Across the world, women entrepreneurs are disproving the prevailing myth that there is a confidence gap holding them back from achieving their business goals.
New research from CARE Women’s Entrepreneurship reveals that 96% of women business owners are confident in their ability to manage and run their operations, and 87% of them have ambitions to grow their businesses. Women entrepreneurs are not just surviving or necessity-driven; they are strategically expanding their client base, selecting suppliers, and making critical business decisions – on their terms.
Women entrepreneurs also take many different approaches to decision-making. While past interventions may have focused on increasing women’s sole decision-making power, this research finds that support is an enabling factor for their businesses. Around 60% make decisions jointly with a spouse or family member, and 40% make decisions alone, and most would not change this distribution of responsibility.
While confidence is high and decision-making is made on her terms, these same entrepreneurs report barriers to business growth related to access to external resources and technology. One in three women are not confident they have access to the necessary financial resources to grow and operate their business, 34% are unable to identify a network that they can rely on for non-financial business support, and 33% are not confident in their ability to use digital tools for business purposes. These external barriers hamper women entrepreneurs’ ability to thrive, further develop confidence, and grow their businesses.
This research underscores that women entrepreneurs are ready for systems to change and for market actors to offer meaningful investment, and access to more relevant tools, services, and business opportunities.
