Women’s Entrepreneurship 2016/2017 Report

Global Entrepreneurship Monitor

Women's Entrepreneurship 2016/2017 Report

Donna J. Kelley, Benjamin S. Baumer, Candida Brush, Patrica G. Greene, Mahnaz Mahdavi, Mahdi Majbouri Marcia Cole, Monica Dean, Ren? Heavlow

Global Entrepreneurship Monitor 2016/2017 Report on Women's Entrepreneurship

GLOBAL ENTREPRENEURSHIP RESEARCH ASSOCIATION BABSON COLLEGE

Founding and Lead Sponsoring Institution

SMITH COLLEGE Sponsor for GEM 2016/2017 Report on Women's Entrepreneurship

TECNOL?GICO DE MONTERREY Sponsoring Institution

UNIVERSITI TUN ABDUL RAZAK Sponsoring Institution

KOREA ENTREPRENEURSHIP FOUNDATION Sponsoring Institution

UNIVERSIDAD DEL DESARROLLO Sponsoring Institution

Thank you to the GEM National Teams Seventy-four economies are profiled in this report: 65 that participated in the 2016 GEM cycle, and nine that participated in 2015, but not in 2016. Thank you to Martha Lanning for her editing work. ?2017 Donna J. Kelley, Benjamin S. Baumer, Candida Brush, Patrica G. Greene, Mahnaz Mahdavi, Mahdi Majbouri Marcia Cole, Monica Dean, Ren? Heavlow, Babson College, Smith College and the Global Entrepreneurship Research Association (GERA).

Table of Contents

Executive Summary6

Introduction 12 Table 1: Economies Featured in the 2016/2017 GEM Women's Report13

Total Entrepreneurial Activity (TEA) and Motivation16

Total Entrepreneurial Activity Rates16 Changes in Total Entrepreneurial Activity19 Necessity-Driven Entrepreneurship19 Changes in Necessity-Based Entrepreneurship 21

Demographics of Entrepreneurs23 Age 23 Education 24 Profile of Women Entrepreneurs by Stage of Economic Development27 Factor-Driven Economy27 Efficiency-Driven Economy27 Innovation-Driven Economy27

Phases of the Entrepreneurial Process29 Entrepreneurial Intentions29 Time Lags: Intentions to Total Entrepreneurial . Activity 29 Changes in Intentions30 Established Business Activity30 Changes in Established Business Activity31 Business Discontinuance31

Impact of Entrepreneurs34 Self-Employment 34 Growth Expectations35 Innovation 38 Internationalization 39 Industry 40

Entrepreneurial Attitudes and Affiliations43 Opportunity Perceptions43 Capability Perceptions43 Fear of Failure44 Personal Affiliations with Entrepreneurs44

Entrepreneurial Investors47 Entrepreneurial Investment Rates47 Median Investment Amounts48 Investor Relationship to Entrepreneur48

Conclusions and Implications51 Progress 51 Problems 51 Paradoxes 52 Implications 52

List of Women's Programs Cherie Blair Foundation for Women, Women's . Economic Empowerment in Lebanon15 The S Factory22 Coca-Cola 5by20 Sari-Sari Store Training and . Access to Resources Program28 Womenx 33 ACORNS ? Accelerating the Creation of Rural . Nascent Start-Ups42 Goldman Sachs 10,000 Women46 Lebanese League for Women in Business50

Research Papers Government Size and Women's Freedom The Effect of Women's Political Empowerment and Rule of Law on Women's Entrepreneurship Rates Work-Family Policies and the Entrepreneurship Gender Gap Entrepreneurship and World Development Indicators Societal Support for Women Entrepreneurs

Sponsors 53

About the Authors56

Appendix Tables58

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LIST OF FIGURES AND TABLES

LIST OF FIGURES

Figure 1 The Entrepreneurship Process and GEM Measures13

Figure 2 World Map Showing Levels of Female Entrepreneurship across 74 Economies, GEM 2015?201616

Figure 3 Total Entrepreneurial Activity Rates by Gender, Grouped into Three Economic Development Levels, GEM 2015?201617

Figure 4 Plot of Female vs Male Total Entrepreneurial Activity Rates, GEM 2015?201618

Figure 5 Regional Averages for Female Total Entrepreneurial Activity in % of Female Population Aged 18 to 64, GEM 2015?201618

Figure 6 Necessity and Opportunity Driven Total Entrepreneurial Activity Around the World in % of Female Population Aged 18 to 6420

Figure 7 Female Participation in Total Entrepreneurial Activity by Age, the Philippines, Thailand, Slovakia and Estonia, GEM 2015?201623

Figure 8 Percentage of Female Entrepreneurs with Post?Secondary Degree or Higher by Economic Development Level, GEM 2015?201624

Figure 9 Educational Attainment of Men and Women Entrepreneurs by Economic Development Level, GEM 2015?201625

Figure 10 Female TEA Levels by Region, Showing Proportions with Post?Secondary Degrees and Higher, vs Lower Education Levels in % of Female Population Aged 18 to 64, GEM 2015?201626

Figure 11 Percentage of Opportunity and Necessity Motives among Female Entrepreneurs by Education Level, for Those with Secondary Education and above, GEM 2015?201626

Figure 12 Entrepreneurial Intentions vs Total Entrepreneurial Activity Rate by Region in % of Female Poulation Aged 18 to 64, GEM 2015?201629

Figure 13 Regional Averages for Female Established Business Ownership Rates in % of Female Population Aged 18 to 64, GEM 2015?201631

Figure 14 Percentage of the Female Population Discontinuing a Business in the Past Year by Region, Showing Reasons for Discontinuation in % of Female Population Aged 18 to 64, by Region, GEM 2015?201632

Figure 15 Percent of Female Entrepreneurs Who Are Self?Employed and Do Not Expect to Hire Any Employee in the Next Five Years, GEM 2015?201635

Figure 16 Total Female Entrepreneurial Activity Levels Indicating Percentage Who Plan to Hire more than Six Employees by Region in % of Female Population Aged 18 to 64, GEM 2015?201637

Figure 17 Total Female Entrepreneurial Activity Levels Indicating Innovation Proportion by Region in % of Female Population Aged 18 to 64, GEM 2015?201638

Figure 18 Total Entrepreneurial Activity Levels Indicating Percentage with Sales of 25% or More to International Customers by Region in % of Female Population Aged 18 to 64, GEM 2015?201639

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