How Many Female Entrepreneurs Are There Worldwide

How Many Female Entrepreneurs Are There Worldwide in 2024?

Published on: December 16, 2023
Last Updated: December 16, 2023

How Many Female Entrepreneurs Are There Worldwide in 2024?

Published on: December 16, 2023
Last Updated: December 16, 2023

The role of women in society has significantly changed over recent decades. 

Many female figures take the helm as founders of their own companies, bossing up their way to offer a fresh take in the field of entrepreneurship.

How many female entrepreneurs are there worldwide?

Which countries have the most number of women business owners?

And what age do women start their own enterprises? Let’s find out. 

Key Statistics

  • There are more than 400 million women entrepreneurs worldwide
  • 1 in 3 businesses worldwide are woman-owned
  • 47% of small, medium, and large businesses in the East Asia and the Pacific region has a woman among its principal owners
  • Guatemala has the highest share of female adult population engaged in entrepreneurial activity in 2022, occupying 28.2% of the total
  • The majority women entrepreneurs established their own business at the age between 20 to 25 years old
  • GenX have the most number of women entrepreneurs in 2023
  • 78.4% of female entrepreneurs are White or Caucasian while only 1.0% are Middle Eastern and North African
  • The United States is the most supportive country in terms of supporting female entrepreneurship in 2021

How Many Female Entrepreneurs Are There Worldwide?

1. More than 400 Million Women in The World Are Entrepreneurs

Women Entrepreneurs 817

To answer the question, a study from Legal Jobs revealed that there are currently 252 million women globally who are considered as entrepreneurs. 

In addition, the study found that another 153 million women are operating their own well-established businesses.

These impressive statistics represent a more than 100% growth in the number of women in the business space over the past two decades. 

(Legal Jobs)

2. Women started nearly half of the businesses established in 2021 (US)

Women in the United States started 49% of new businesses established in 2021, representing a significant hike from the data’s 28% settlement pre-pandemic. 

An estimated 5.4 million new businesses have been established during the year, showing that the pandemic presented new opportunities for women with the new dynamics of work and leisure.

During the year, 48% of women noted that ‘pursuing one’s passion’ is a main motivator for starting their own enterprise.

Meanwhile, 43% said they aim to achieve financial independence through business and 41% presented flexibility of the nature of work as the reason.

(World Economic Forum)

2. 1 in 3 Businesses Worldwide Is Woman-Owned 

With the changed dynamics of business during the pandemic, 1 in 3 businesses worldwide are now owned by women.

Take a look at this data detailing the share of businesses of all sizes that has a woman among its principal owners in every region of the world:

  • East Asia and the Pacific – 47% of small, medium, and large businesses in the region has a woman among its principal owners 
  • Europe and Central Asia – 33% of small, medium, and large businesses in the region has a woman among its principal owners
  • Latin America and Caribbean – 50% of small, medium, and large businesses in the region has a woman among its principal owners
  • Middle East and North Africa – 23% of small, medium, and large businesses in the region has a woman among its principal owners
  • South Asia – 18% of small, medium, and large businesses in the region has a woman among its principal owners
  • Sub-Saharan Africa – 29% of small, medium, and large businesses in the region has a woman among its principal owners

Nearly half of all businesses in East Asia in the Pacific have a female figure in the ownership table while the figure came at only 18% in the South Asian region.

(Statista)

3. 9 million people work for women-owned companies 

An estimated 9 million people, representing 8% of the entire private workforce, are employed under women-owned companies.

This number has increased from 6% in 2007, with the revenue share following the uptrend from 4.0% to 4.3% over the same period. 

(Legal Jobs)

4. Guatemala Has the Highest Share of Female Adult Population Engaged in Entrepreneurial Activity in 2022

Guatemala topped the list of countries with the highest share of female adults engaged in some form of entrepreneurial activity last year.

28.2% of the country’s female adults participated in the activity during the year.

Here is a full-list list of countries that topped the category, as per a data from Global Entrepreneurship Monitor which examined 49 countries and territories on business establishment over the last 3 and a half years.

  • Guatemala – 28.2% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Togo – 25.4% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Chile – 25.2% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • United States – 18.1% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Saudi Arabia – 16.1% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • India – 11.4% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Germany – 7.1% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • China – 5.0% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Japan – 3.6% of the country’s female adult population engaged in entrepreneurial activity in 2022
  • Poland – 1.6% of the country’s female adult population engaged in entrepreneurial activity in 2022

(Global Entrepreneurship Monitor)

5. Most Women Establish Their Own Business at The Age Between 20 to 25 Years Old

Women Entrepreneurs 818

According to a paper published on ResearchGate, the age between 20 to 25 years old has the highest percentage of women establishing their own businesses.

In a more detailed look, take a peep at this data:

  • 20 to 25 years old – 25.20% of women entrepreneurs established their business during this age range
  • 26 to 30 years old – 22.40% of women entrepreneurs established their business during this age range
  • 31 to 35 years old – 22.70% of women entrepreneurs established their business during this age range
  • 36 to 40 years old – 15.30% of women entrepreneurs established their business during this age range
  • 41 years old and above – 14.40% of women entrepreneurs established their business during this age range

(ResearchGate)

6. In Terms of Generation, GenX Have the Most Number of Women Entrepreneurs in 2023

A separate study from Guidant which categorized women according to their generation revealed that 55.7% women entrepreneurs are from the Generation X, while only 29.9% are Boomers. 

Meanwhile, Millennials are an emerging driving force in the sector, with 14.4% of women entrepreneurs coming from this generation in 2023.

(Guidant)

7. In Terms of Race, White or Caucasian Women Are at The Helm of Female Entrepreneurship

78.4% of female entrepreneurs are White or Caucasian while 11.3% are Black or African American.

Hispanics, Latino, or those with Spanish origin and Asian or Asian Americans tied at 4.6%, while Middle Easterns and North Africans lagged behind at 1.0%. 

(Guidant)

8. The Majority of Women Entrepreneurs Consider Themselves “Very Happy”

Take a look at this data which studied female entrepreneurs in terms of happiness level.

  • 6% of respondents said they are “very unhappy” as women business owners in 2023
  • 14% of respondents said they are “somewhat unhappy” as women business owners in 2023
  • 16% of respondents said they feel “neutral” in terms of happiness level as women business owners in 2023
  • 30% of respondents said they are “somewhat happy” as women business owners in 2023
  • 34% of respondents said they are “very happy” as women business owners in 2023

(Guidant)

9. The United States Is the Most Supportive Country in Terms of Supporting Female Entrepreneurship in 2021

Women Entrepreneurs 819

According to a study published on Statista, the United States is the top country in the world in terms of supporting female entrepreneurship, scoring nearly 7 in the Mastercard Index of Women Entrepreneurs (MIWE) during the year. 

The Mastercard Index of Women Entrepreneurs (MIWE) assesses the status of women in entrepreneurship by considering three key factors including outcomes related to women’s progress, assets in terms of knowledge and financial access, and the supporting conditions for entrepreneurship.

  • United States – the country scored 69.9 in the index during the year
  • New Zealand –  the country scored 69.8 in the index during the year
  • Canada –  the country scored 68.6 in the index during the year
  • Australia –  the country scored 67.2 in the index during the year
  • Switzerland –  the country scored 66.7 in the index during the year
  • Taiwan –  the country scored 66.3 in the index during the year
  • Germany –  the country scored 66.2 in the index during the year
  • Israel –  the country scored 65.3 in the index during the year
  • United Kingdom –  the country scored 64.9 in the index during the year
  • Sweden –  the country scored 64.9 in the index during the year

Conclusion

The landscape of female entrepreneurship is dynamic and evolving, with over 400 million women worldwide actively engaged in entrepreneurial activities. 

Notably, the United States emerges as a leader in supporting women in business, as reflected in its high score on the Mastercard Index of Women Entrepreneurs. 

As the number of women entrepreneurs continues to grow, the sector proves to be a source of empowerment, happiness, and economic impact globally.

Thanks for reading our article on how many female entrepreneurs are there worldwide in 2023.

Sources

StatistaAssets.Guidant FinancialInvestopedia
ScoreElleLuisa Zhou
Legal JobsProfessional BeautyCeo World
StatistaWeforumGuidant Financial
Research Gate

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Written by Kelly Indah

I’m a statistics researcher here at EarthWeb with a special interest in privacy, tech, diversity, equality and human rights. I have a master’s degree in Computer Science and I have my Certified Information Systems Security Professional (CISSP) certification.