DNVN - The entrepreneurial spirit of women, especially the younger generation, is spreading strongly around the world as they pursue their dreams, achieve financial independence, increasingly balance work and life, and create positive values for society. However, women also face many challenges when starting a business.
New research from Mastercard has found that half (51%) of women surveyed worldwide have considered starting a business, with the rate particularly high among younger generations. Gen Z women (71%) and Millennials (65%) expressed significantly more interest than Gen X (49%) and Baby Boomers (34%), reflecting a generational shift in the entrepreneurial conversation. Notably, nearly half (48%) of Gen Z women believe their generation has a stronger entrepreneurial spirit than previous generations.
In addition to formal business activities, up to four in ten women want to start a side job to increase their income outside of their main job, this rate continues to be significantly higher among Gen Z women (61%).
For many women, entrepreneurship is driven by the desire to increase income (59%), achieve financial independence (54%) and improve work-life balance (37%). However, these motivations differ across generations.
20% of Gen Z women want to start a business to create a positive impact on society, higher than Millennials (16%), Gen X (15%) and Baby Boomers (17%).
Among those who have started a business, nearly half (49%) of Gen Z women said they did so to pursue a dream, significantly higher than Gen X (36%) and Baby Boomers (35%).
25% of Gen Z female business founders believe their business can change lives for the better, exceeding the global average of women (20%).
Education and childcare are two of the top industries that Gen Z women want to start a business in. The most popular business is still cosmetics and beauty - influenced by the rise of beauty influencers on social media, with beauty content on TikTok increasing 22% compared to last year.*
Top startup sectors for Gen Z women: cosmetics (25%, compared to 7% of women globally); food (18% compared to 16% of women globally); online sales (17%, compared to 16% of women globally); education, such as tutoring (14%, compared to 8% of women globally); childcare (11%, compared to 9% of women globally).
Despite the growing popularity of entrepreneurship, research shows that many women, including those who have started businesses, still face many challenges.
Women tend to be less confident in business skills in general – particularly financial decision-making (30% of women feel confident, compared to 41% of men), public speaking (26% vs. 34%), networking (23% vs. 34%), and identifying new business opportunities (13% vs. 24%).
Lack of confidence also impacts the running of a business. While lack of capital (34%) and financial constraints (33%) are considered the biggest challenges for women starting a business, they are more likely to cite lack of confidence as a barrier (26% compared to 22% for men).
Women entrepreneurs who have started their own businesses also report having more difficulty balancing family and work responsibilities. Women entrepreneurs are twice as likely as men to report challenges with childcare arrangements (12% vs. 6%). Compared to men entrepreneurs, women entrepreneurs are more likely to have difficulty disconnecting from work (46% vs. 42%), have more difficulty balancing work and childcare (37% vs. 31%), and are more likely to miss vacations due to work (36% vs. 31%).
To boost women’s confidence in starting their own businesses, the study found that business planning skills training (28%) and accessible financial funding (24%) were important enablers.
Younger women, especially Gen Z, value the benefits of a support network more than previous generations. 31% of Gen Z women said that having a business partner would help them feel more confident about starting a business, while 29% said that mentorship was essential. In particular, Gen Z values the need for business partners and mentors more than access to funding (25%).
“This study demonstrates the strong entrepreneurial spirit among women around the world, especially among the younger generation,” said Winnie Wong, Mastercard Country Manager for Vietnam, Laos and Cambodia. “While women entrepreneurs have made significant strides, the study also highlights the challenges that remain. These barriers underscore the need for rapid and effective change to create an environment where all entrepreneurs can thrive.”
Mastercard is committed to building an inclusive digital economy where small businesses are empowered with the solutions and support they need to grow and succeed."
Hoang Phuong
Source: https://doanhnghiepvn.vn/doanh-nhan/nu-doanh-nhan/nu-doanh-nhan-va-nhung-thach-thuc-khi-khoi-nghiep/20250309102836413
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