Advancing gender parity in entrepreneurship: strategies for a more equitable future

Gender parity in entrepreneurship is a critical lever for economic and social transformation. Image: Christina @ wocintechchat.com/Unsplash
- Gender parity in entrepreneurship is not just a moral imperative but a crucial driver of economic growth and innovation. Closing the gender gap in employment and entrepreneurship could boost global GDP by 20%, according to the World Bank.
- Women-led businesses bring diverse perspectives, foster inclusive leadership, and often develop solutions to address social and environmental challenges.
- Here are 5 strategies to advance gender parity in entrepreneurship, from improving access to capital for female entrepreneurs to challenging cultural norms and biases.
Gender parity in entrepreneurship is not just a moral imperative but a crucial driver of economic growth and innovation. Yet, despite significant progress in promoting gender equality globally, women remain underrepresented in entrepreneurial ecosystems. According to the Global Gender Gap Report 2024 by the World Economic Forum, closing gender gaps in economic participation and opportunity will take over 134 years if current trends persist. Bridging these gaps is essential to fostering inclusive economies and unlocking the untapped potential of half the world's population.
Why gender parity in entrepreneurship matters
Gender parity in entrepreneurship is a critical lever for economic and social transformation. McKinsey estimates that advancing gender equality could add $12 trillion to global GDP by 2025. The World Bank calculates that by closing the gender gap in employment and entrepreneurship, global GDP could increase by 20%. According to the Global Entrepreneurship Monitor (GEM) if there is a sustained and concerted effort to help women start and grow businesses at the same rates as men, $5 to 6 trillion of new global economic output could be added.
Women entrepreneurs bring diverse perspectives, foster inclusive leadership, and often develop solutions addressing social and environmental challenges. Aspen Network of Development Entrepreneurs (ANDE) highlights that, in developing economies, they act as catalysts for change, innovation, job creation, and economic prosperity within the communities they serve. For instance, women-led businesses are more likely to create sustainable products and services, contributing to long-term societal benefits, and are six times more likely to employ women.
However, women face systemic barriers such as limited access to capital, restricted networks, and entrenched cultural biases. Addressing these barriers is essential to level the playing field and ensure that entrepreneurship becomes a viable pathway for all, regardless of gender.
Strategies to advance gender parity in entrepreneurship
1. Improving access to capital for women entrepreneurs
Access to capital remains one of the most significant challenges for women entrepreneurs. PitchBook data shows that women-led startups in Europe and the United States received 2% or less of the global venture capital funding invested, similar to Latin America region with only 2.3% according to Crunchbase. Addressing this disparity requires innovative funding mechanisms such as gender-lens investing, which channels resources into businesses advancing gender equality.
Initiatives like the Women Entrepreneurs Finance Initiative (We-Fi) have demonstrated the power of targeted funding. By mobilizing over $350 million in commitments, We-Fi has supported thousands of women entrepreneurs across emerging markets, catalyzing economic growth and job creation.
2. Expanding access to networks and mentorship programs
Entrepreneurial success often hinges on access to robust networks and mentorship. Women entrepreneurs, however, frequently encounter challenges in gaining entry to influential networks that are critical for scaling their businesses. Programs such as the Cherie Blair Foundation for Women provide mentorship and resources, enabling women to build connections, gain business acumen, and overcome structural barriers.
Promoting platforms where women can share experiences, access industry insights, and connect with investors can accelerate their entrepreneurial journeys. Creating women-centric networking spaces—both virtual and in-person—is an essential step toward inclusion.
3. Creating inclusive policies and regulatory frameworks
Governments play a pivotal role in fostering an enabling environment for women entrepreneurs. Inclusive policies that address legal and systemic barriers—such as discriminatory inheritance laws or lack of childcare support—are critical for empowering women to pursue entrepreneurial ventures.
For example, Rwanda’s gender-sensitive policies prioritize women’s ownership rights and access to finance, propelling the country’s women entrepreneurs to the forefront of its economic transformation. Policymakers must also prioritize gender-responsive procurement policies that create opportunities for women-led businesses to access public contracts.
4. Enhancing training and digital literacy for women
Skill-building programs tailored to women entrepreneurs are essential for bridging knowledge gaps, particularly in technology and finance. With the rise of digital economies, equipping women with digital skills and literacy is paramount to their success. Programs like SheTrades, spearheaded by the International Trade Centre, empower women to leverage e-commerce platforms and expand their market reach globally.
Additionally, vocational training and business development services should focus on emerging industries such as renewable energy and fintech, where women remain underrepresented but have significant growth potential.
5. Challenging cultural norms and biases
Cultural norms and gender biases often undermine women’s entrepreneurial aspirations. To shift these narratives, society must champion campaigns that highlight the successes of women entrepreneurs and dismantle stereotypes. Men also have a crucial role as allies in advocating for gender equality and promoting inclusive work environments.
Public awareness initiatives, such as the UN Women’s #HeForShe campaign, demonstrate how collective efforts can challenge traditional norms and create a more equitable society. Encouraging more women to step into leadership roles—and celebrating their successes—creates a ripple effect that inspires future generations.
Case Studies
The impact and transformative potential of gender parity and inclusive entrepreneurship initiatives can be seen through inspiring case studies. For instance, Kenya’s women-led fintech company, Tala, has revolutionized micro-lending, providing credit access to underserved communities. Similarly, Brazil’s Afro-Brazilian startup, PretaLab, promotes diversity in technology by empowering women of color to pursue careers in STEM fields. Technovation Girls have trained 150,000 young women over the last 15 years to be technology entrepreneurs & innovators, empowering them to solve real-world problems in their communities. And with The Artificial Intelligence Forward Alliance (TAIFA) are providing 25 million girls with AI proficiency and entrepreneurial mindsets to strengthen and accelerate their countries’ economies and well-being.
What's the World Economic Forum doing about the gender gap?
Advancing gender parity in entrepreneurship is not just a pathway to economic prosperity but a fundamental step toward a fairer and more inclusive world. Governments, private sector actors, and international organizations must collaborate to dismantle systemic barriers, foster inclusive ecosystems, and champion women entrepreneurs.
By implementing strategies that improve access to capital, expand networks, promote inclusive policies, enhance skills, and challenge cultural norms, we can create a future where entrepreneurship thrives as a platform for gender equality. Together, we can bridge the gap and unlock the limitless potential of women entrepreneurs worldwide.
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