Only 39% of employed high net worth (HNW) females in Asia are businesses owners or entrepreneurs compared to 50% of men, reveals a new Barclays report on female entrepreneurship.
39% of HNW women in Asia classify themselves as business owners; far below the 50% of high net worth men in Asia who describe themselves in this way. Globally, 44% of HNW women and 49% of HNW men classify themselves as business owners.
The report entitled ‘Unlocking the Female Economy: The Path to Entrepreneurial Success’, finds that Globally, 44% of HNW women and 49% of HNW men classify themselves as business owners.
The report also shows that the gender pay gap is wider for non-entrepreneurs compared to entrepreneurs. Non-entrepreneur women (£259,420) earn significantly more than non-entrepreneur men (£233,390), while male entrepreneurs (£264,828) make slightly more than their female counterparts (£260,227).
Around the world, women are becoming increasingly affluent and influential. Women globally earn GBP£8 trillion in annual income, a figure that is forecast to reach GBP£11 trillion by 2014.
Women are also getting acess to funds through microfinance institutions. Gita Patel, FCA Founder Stargate Capital said “Over the past decade, microfinance has achieved considerable success in giving women in emerging markets access to financial services. A 2009 report from the United Nations found that microfinance organisations provided financial services to 145 million people, of whom 107 million were among the poorest microfinance clients when they first received their loan. Women comprised 83.4% of the latter group. Microfinance has had an incredible reach in emerging markets and women in particular have been beneficiaries of this model.”
