Are Women Going to Run Global Business?

Melisa Marzett

October 29, 2018

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Over the course of many years, it was thought that men are uppermost in business. However, in the 80s, female business became a powerful economic force in the United States and Western European countries.

This movement is scientific and technological progress, and moves toward postindustrial society caused a structural change of economy and mushroom growth of service industries. Women built up a small business on the market for services: snack bars, trade shops, and mini-markets.

A Dress on the USA

According to the Global Entrepreneurship Monitor, in 2015, women in the United States needed twice less money to run a business of their own while men needed on average $10,000. Donna Kelli, Babson University professor, and research co-author noted that businesswomen are more energetic on the stage of a company start-up.

According to the United States Census Bureau, more than 50% of businesswomen had capital less than $10,000 to start with. Such women rely on family members twice as often when starting businesses. Ladies tend to build up customer-oriented businesses, trades, and service enterprises.

Etsy online platform, having handmade goods for sale, announced that 86% of shop assistants are women whose average age is 39 years old.
Population count statistics data confirms this: women begin to run a business of their own more often than not in the period between 35 and 44 years old, while men are from 25 to 34 years of age.

Today, the number of women engaged in professional and technical spheres is bigger than the number of men.

A Place in the Sun

In June 2016, Dell and IHS Research Company published a rating of the best cities for business women—The Dell Women Entrepreneur Cities Index. The authors pointed out which business criteria are the most important in one city or another.

For example in Stockholm, information technologies are valued, while culture is valued in Toronto. It is worth it to place stakes on finances in New York and trusting one's talent and creative side is valued in San Francisco.

Top 25 Cities for Business Women:

1. New York
2. San Francisco (Bay)
3. London
4. Stockholm
5. Singapore
6. Toronto
7. Washington
8. Sidney
9. Paris
10. Seattle
11. Munich
12. Austin
13. Beijing
14. Hong Kong
15. Таibei
16. Shanghai
17. Тоkyo
18. Меxico
19. San Paulo
20. Seoul
21. Milano
22. Deli
23. Johannesburg
24. Djakarta
25. Istanbul

The Reverse of the Medal

While gender inequality is common for patriarchal societies and prevents women from starting a business, oftentimes, low self-esteem also gets in the way. Women are less likely to evaluate their abilities as enough for a business start-up.

Women, more than men, are afraid of failure. This trend is observed in psychologist-conducted research among students. Results of the tests of focus groups from Harvard and Massachusetts universities showed that men, as a rule, exaggerate their professional abilities while women underestimate them. It spirals into gender inequality, which remains on an essential level even in developed countries. Change of one's own perception is the key to entrepreneurship torque.

Gates will Help Us

"Lean in!"—Sheryl Sandberg, Facebook operation director.

If deciding to run a business, the success of an enterprise is going to depend upon the belief in oneself before anything else. In addition, it is important to note the economic stability of the country where the business is located, but due to the internet, the boundaries between countries are fuzzy.

Anyone can run a business online. For instance, items can be sold on Etsy, social networking websites, or an online store can be opened with an international or thematic domain name.

In May 2016, Bill and Melinda Gates' fund granted $80 million for studying gender inequality in the world. Prospects are hopeful: preliminary calculations show that the growth of gender inequality in a professional sphere may increase income 20% per person by the year 2030.

Melisa Marzett strongly believes that running a business is not only about men. Women have worn trousers just as well for many years now, while men began using makeup and wearing heels . . . . but that is another story. Melisa is a writer who works for Pen Essays assignment writing company, hoping to contribute and leave a large footprint in the sands of time.

Opinions expressed by the author are not necessarily those of WITI.

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