PH Market One of the Best in the World for Women Entrepreneurs
When it comes to providing opportunities and conducive conditions for women entrepreneurs, there are only eight countries in the world that are ahead of The Philippines.
The Philippine market placed 9th in the 2018 Mastercard Index of Women Entrepreneurs with a score of 68 out of 100.
New Zealand was the number one country with a score of 74.2, followed by Sweden with 71.3, Canada with 70.9, the United States with 70.8, Singapore with 69.2, Portugal with 69.1, Australia with 68.9 and Belgium with 68.7. UK was in 10th place just behind The Philippines with a score of 67.9.
The report came from global payments giant, Mastercard, who surveyed 57 economies to represent 78.6 percent of the world’s female labor force.
“Women entrepreneurs have made remarkable strides as business owners around the world, even as they work to achieve their full potential. We believe that by drawing attention to their efforts, we can further support and empower women in their drive to run successful businesses and lead richer, more fulfilling lives,” Martina Hund-Mejean, Chief Financial Officer of MasterCard, was quoted as saying.
Despite being the only lower-middle market included in the Top 10, The Philippines has maintained an environment where women can achieve success in entrepreneurship. Getting a high index score is also a sign that there’s a strong representation for women as business leaders, professionals, and technical workers in the country.
According to Mastercard’s report, access to financial services, strong support for small firms, ease of doing business, and quality of governance are all key conditions when it comes to the development of women entrepreneurs while the major hurdles are gender bias, lack of self-belief, and lack of access to venture capital.
via CNN Philippines
