It’s one thing to encourage more women to start their own entrepreneurial ventures, but what are the elements that can ensure their future growth and success? And what countries are doing a good (and not so good) job of providing a “womenabling” environment for growth-oriented women entrepreneurs? These are the questions asked – and answered – in the new Global Women Entrepreneur Leaders Scorecard, a data-powered diagnostic tool developed by ACG Inc. with support from Dell.
The research team (of which Womenable is a member) considered the elements necessary for supporting growth-oriented, high-impact women entrepreneurs – AND what data are currently available on a regular basis – gathering and combining 21 data variables into an analytical framework comprised of five main elements:
- Business environment;
- Gendered access to resources;
- Women’s leadership and legal rights;
- A gendered entrepreneurial pipeline; and
- Potential female entrepreneurial leaders.
The resulting analysis, conducted among 31 economies that collectively account for 76% of global GDP, finds that the following countries provide the environment most conducive to supporting high-impact women’s entrepreneurship:
- United States
- United Kingdom
At the other end of the list are countries that are not so supportive:
One important conclusion of the analysis is that even among highly-ranked countries there is much room for improvement, as the scores – calculated on a 0-100 scale – only reach 71 even in the top-ranked U.S.
And what can all of us do to help the cause? Several recommendations for action offered include:
- Narrow the gender data gap by measuring progress of women entrepreneur-focused initiatives;
- Prioritize female-owned businesses in public and private supply chains;
- Promote and empower women in the workplace;
- Raise the visibility of female role models in business; and
- Build entrepreneurship skills for girls by investing in STEM education.
Learn more and download the GWEL Scorecard executive report and methodology at THIS WEB PAGE.