South African women are exiting their businesses at a higher rate than they are starting and running businesses, indicating they need more support in growing start-ups to the established stage of more than 3.5 years.
Global Entrepreneurship Monitor South Africa Report 2023/24
‘Moreover, supporting women entrepreneurship potentially has a significant impact on development, as women entrepreneurs tend to allocate more of their funds towards the improvement of health, education and overall welfare of their families and communities. Women are also more motivated to go into business to make a social impact.
Women face not only unequal access to business finance and support resources but also gender stereotypes and prejudice. As women bear the majority share of caregiving and family responsibilities, they face a greater burden of managing conflicting demands on their time as they juggle business and family needs.
The GEM SA research also found a notable gender gap in business growth, with 11.8% of men’s business ventures reaching the threshold of employing 20 or more people, while only 4.9% of women-owned businesses had done so. Meanwhile, women were more likely to be ‘solo-preneurs’, at 4.9% compared to 1% of men.
‘The results of this survey highlight the importance of improving the supporting environment for entrepreneurship for both women and men in order to reduce high unemployment.’Co-author and research fellow at Stellenbosch Business School, Angus Bowmaker Falkoner, says the involvement of young women in entrepreneurship was low, at 11.3% and that with half of South Africa’s youth unemployed , it was essential to improve exposure to entrepreneurship education at school level.
‘This highlights the positive effect that engaging in entrepreneurship has on women’s entrepreneurial mindset and business confidence.’ ‘Government policies promoting women entrepreneurship should prioritise a gender-neutral legal framework, reduce bureaucratic obstacles and increase access to finance for women entrepreneurs,’ says the report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘You women are cheap’: Manaka takes a swipe at South African women selling identities to foreigners'You women are cheap. This is very disappointing because now we are trying to fix the country, but you people are bad,' Manaka Ranaka said.
Read more »
Paris 2024: South African Sprinter Qualifies for Women’s 100m Hurdles SemisTeam South Africa's sprinter has booked a place in the semi-finals of the Women's 100-metre hurdles at the ongoing 2024 Olympic Games in Paris, France.
Read more »
Celebrating South African women through televisionAs we celebrate National Women’s Day, the spotlight is on the impactful stories of South African women depicted on television.
Read more »
Siya Kolisi's urgent plea to South African men this Women's DaySpringbok captain Siya Kolisi emphasised the need for South African men to be more vocal and hold each other accountable in the fight against gender-based violence at Friday’s captains media conference, reports Cape {town} Etc.
Read more »
‘Prisoners of patriarchy’ – South African women are still in shacklesTwo leading gender experts say South African women are still imprisoned by patriarchy amid Women’s Day commemoration.
Read more »
South African women lead property market as buyers outnumber menThe latest data from Lightstone has revealed that South African women outnumber men when it comes to buying property, Cape {town} Etc reports. Lightstone’s managing executive for real estate, says women-only buyers account for 2 154 000 (38%) of stock owned and 1 883 000 (33%) of co-owned properties.
Read more »