According to new research commissioned by Mastercard’ Ukraine, women in ’ are the most willing to start their own business compared to the rest of Europe’.
Two-thirds of Ukrainian women living in war zones and facing very difficult conditions () says he plans to start his own business. Among those who think the same, this rate is even higher in the younger generation; More than four-fifths of Gen Z () wants to make this leap of faith.
Mastercard stated that women entrepreneurs play a critical role in economic development, resilience and recovery, adding that they also act by supporting a positive change in the world.
Payal Dalal, Vice President of Global Programs at Mastercard, told Euronews Business’a: “Entrepreneur and mother, for example, Inna Bozhko, owner of Barbershop Inclusive’in Kharkiv, Ukraine’. Using our support through the Mastercard Inclusive Growth Center, he opened his own barbershop with a special soundproof space for children with voice-affected disabilities (his eight-year-old daughter suffers from cerebral palsy).”
Ukrainians, both men and women, cite a lack of funds as the main reason why they have not yet started a business (the men's ’i and women %It is 76 ’. Women also suffer from a lack of experience (), lack of knowledge () and lack of self-confidence () stated that there were key factors that prevented them from starting a business.
Ukrainian women sell the most online (), including private tuition (), agriculture () and food and drink () They are interested in opening businesses in their fields.
Where else in AB’ are women most interested in entrepreneurship?
Driven by the highly entrepreneurial spirit of GenZ’, more and more women in AB’ are turning to starting their own business to gain financial independence, improve work-life flexibility and make a difference in the world.
According to the report, carried out in 41 countries around the world, four out of ten European her women are considering starting their own business, compared to Generation Z () and millennial women () at the highest level.
Within the EU, Portuguese women are the most willing to start their own business, and also the average European woman in basic financial skills, such as dealing with savings and budgets () They are twice as comfortable.
Dalal, Euronews Business’a said: “Our data, Portuguese (), Polish () and Greek () the average European of women () found that they were more likely to consider starting their own business.”
According to the report, the number of people who are planning to start their own businesses in these countries, as well as those who are planning to start them, is quite high: Portugal in ’ ; Poland in ’ ; Greece in ’ .
Doing a little good in the world is the main driving force for Gen Z
The report shows that behind the growing appetite for entrepreneurship, Generation Z women in Europe’ most likely tend to start businesses with the goal of making ‘ a good thing for the world ( against ’. millennials, th Generation and baby boomers.
As a reflection of this, education and child care are among the top three sectors in which European Z generation women would like to start a business. But the cosmetics sector, by far the most popular sector of this generation, takes the top place (the European average among women against ’. ).
What obstacles do women face when starting their own business in Europe’?
According to the report, the risk of failure (), lack of financial resources () and lack of experience (%Concerns about 28) stand out as the biggest barriers for women who have not yet started their own business.
Confidence is also a significant challenge for women who say they have disproportionate difficulty in their care commitments (both for children and older family members).
How can technology increase women's entrepreneurship?
Mastercard and Amazon Web Services leaders agree that digital technologies have great potential to transform the setup and operation of small businesses, and that female entrepreneurs can particularly benefit from them.
In the next few years, I hope to see the barriers to female entrepreneurs overcome with the increasing use of digital technologies that small businesses still need to adapt to meet their diverse needs and capabilities.“
Payal, “From increasing operational efficiency to expanding market access, digital tools offer unprecedented opportunities for increased scalability, resilience and growth, ” said.
Tanuja Randery, EMEA Vice President and General Manager of Amazon Web Services’ and founder of PowerWomen Network’, said: “The latest advances in technology open up huge opportunities for female entrepreneurs by reducing entry barriers with Gen AI, automating tasks to increase productivity, and providing smarter insights to scale businesses.”
He also emphasized that: To accelerate women's entrepreneurship and make the next unicorns possible in Europe“, we need to give women access to the right sponsors, networks and venture/government funding to help them confidently navigate these opportunities.’
Randery told Euronews Business’a India about his experience growing up in ’, where he was inspired by his father to work in the technology industry. Today, it represents one of the world's five largest technology companies, Amazon’u, through its Web Services branch. She shared her thoughts on what could inspire the next generation of female entrepreneurs with Euronews Business.
“Three pieces of advice I can give to women pursuing their careers: a) Make a plan “AliceRemember what ’ said, if you don't know where you're going, every path leads you there; b) Find your sponsors, “women are over-mentored and under-sponsored, and c) Play to win to fit in, take risks, be mobile (change countries, industries, functions) and get feedback, but in the end you must remember who you are, what makes you happy and what you do best.”
