Women-owned businesses are receiving a lot of attention around
the world as potential catalysts of growth, job creation and
economic development. In the United States, where data is more
readily available, there are 8.3 million women-owned businesses
which employ 6% of the country’s workforce and account for 29%
of all enterprises.
Over a ten-year period (from 2002-2012), these businesses grew
by 28.6% which outpaced the growth of all small businesses
nationwide. In emerging markets, a mapping exercise conducted
by the International Finance Corporation (IFC) and McKinsey in 2011
found that there are approximately 8 to 10 million formal womenowned
small and medium enterprises (SMEs), which represent 31
to 38 percent of all small businesses. In Sub-Saharan Africa, the
dynamism of SMEs as signifi cant contributors to GDP is evident in
many countries and the proportion of male-owned businesses to
female-owned businesses is almost the same with women showing
high rates of entrepreneurial activity.