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Tuesday, August 9, 2022
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Women in Business: The Global Rise of Female Entrepreneurs

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The business has always been a male-dominated industry, but recently we have started seeing the rise of gender equality in business, with female entrepreneurs taking the reigns.

Since 2006, female entrepreneurs have risen 30 percent in the US. And in 2017, more than 163 million women were starting businesses across the globe, and 111 million already had established businesses that they were running.

But why should we care about female entrepreneurship? Working is not a norm for women in lower-income countries. According to the World Bank, only 7 percent of females aged 15 and up work. This is not because women don’t want to work but rather because they are often denied the opportunities they need to thrive in the business world. Even successful women in developed countries like the US are denied equal pay in many industries, getting paid less than their male counterparts. In situations like this, becoming a female entrepreneur will not only guarantee that you earn some type of wage, but you will also be able to manage every single aspect of your business. Thus having a female-owned business gives rise to female empowerment and has become an important symbol for women worldwide who are struggling to make a place for themselves in the workforce.

What Do The Stats Look Like Around The World?

The global enterprise monitor (GEM) studied reported that between 2015 and 2017, the Total Entrepreneurial Activity (TEA) among women increased over 10 percent in 63 economies and the gap between genders decreased by 5 percent. The TEA rates differ all around the world, with just 3 percent in France, Germany, Jordan, and Italy to 37 percent in Senegal. In Indonesia, the Philippines, Mexico, Vietnam, and Brazil, women participated in entrepreneurial at higher or equal rates as men. 

Statistics suggest that the number of female entrepreneurs has also increased in the United States as 3 in 10 entrepreneurs are women, becoming one of the only industries where gender inequality is lower than 1.7 percent. It is reported that 26 percent of women-owned businesses are wholesale and retail, 21 percent of businesses fall under education, health, social services, and government, 18 percent are administrative businesses, and 9 percent are manufacturing. 

Even though the stats prove that female entrepreneur is on the rise, it is still hard to put it into context when we don’t have good examples. So, let’s look at some of the amazing women entrepreneurs around the world who have not only made a name for themselves but also served as an inspiration for women around the globe. 

  •  Kiran Mazumdar-Shaw

Kiran Shaw is one of the richest self-made women in India. She started a company called Biocon which was a biopharma company based in India. At the time, she worked out of a rented shed, and now it has become the biggest biopharma company in terms of revenue. Her company has sold over 3 billion doses of insulin, and now her net worth is a startling 3.7 billion dollars.  

  • Huda Kutton

Huda found a lack in the market when she couldn’t find any high-quality lashes while she was working as a freelance makeup artist, so she started making her own. What started as a hack to fill the gaps in the industry soon became one of the biggest names in the makeup market. Her company dabbles not only in makeup but has expanded to include skincare. Huda is now worth 490 million dollars, and she is only in her 30’s!

  • Zhang Xin 

Soho China is a real estate development company founded by Zhang Xin and her husband, Pan Shiyi. She originally worked in a factory and graduated from Cambridge University, and now she is known as the woman who built china. She and her husband are now worth 3 billion dollars

  • Debbie Fields 

Mrs. Fields Bakeries was founded in 1977 by Debbie, and since then, she has opened 650 bakeries just in the US. She also managed to expand into 11 other countries. She now has a net worth of 65 million dollars and has become the largest retailer of fresh cookies in the United States.

  • Oprah Winfrey 

Oprah is a very popular household name. She has been running her interview talk show for 25 years. She co-founded a TV station called Oxygen and continued to work there until 2011, when she created her OWN, Oprah Winfrey Network. The company is worth about 70 million dollars. She also has a deal with Apple which will help her develop unique content in the form of books, TV shows, and documentaries. According to Forbes, she now has a net worth of 2.6 billion dollars. 

  • Sarah Blakely 

Sarah founded her spandex company with only 5,000 dollars in her pocket. Today the company caters to more than 50 countries around the world. She also runs a foundation that helps women and supports young women entrepreneurs; she paired up with GlobalGiving during 2020 and gave more than a thousand 5,000 dollars as an award to female-owned businesses. Today her net worth is 1.6 billion dollars. 

Learn More about Powerful Women around The World In The Best Entrepreneur Magazine

Hustle Mama Magazine is dedicated to providing content for all types of female audiences and is the best magazine subscription available for women. Not only that, but we cater to ambitious women all around the world, offering tips for women entrepreneurs.

So if you want a subscription to one of the best online magazines, contact us

About The Author 

As an entrepreneur herself, the author wants to share how women have and are changing the world. She is passionate about celebrating other women and she does it through her writing. She wants to use powerful women as an inspiration to encourage other aspiring females to start their businesses. 

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