Women Entrepreneurs Lead Local Markets While Men Dominate Global Ventures

The Women’s Entrepreneurship Report from Global Entrepreneurship Monitor highlights that while women are catching up globally in entrepreneurship, they are more likely than men to focus on local markets. However, Central and East Asia present a unique trend: internationally focused startups in the region are equally led by men and women, while men dominate locally focused businesses 57% of the time.

Globally, men still lead international startups by a significant margin. In 2023, men led 64% of internationally focused businesses in the Middle East and Africa, 66% in North America, and 60% in Europe and Latin America. By contrast, China and Iran show an inverse trend, with women leading 73% and 61% of international startups, respectively. Sectors like clothing and cosmetics in China have particularly seen women excel, with small startups contributing to the rise of self-made female billionaires.

Both men and women cited job scarcity and wealth-building as primary reasons to start businesses. However, women are overrepresented in wholesale retail, government, and social services, while men are more likely to hire larger teams. Women also remain 50% more likely to exit their startups for family or personal reasons.

Since 2001, women’s participation in entrepreneurial activities has grown, increasing from 6.1% to 10.4% in 30 countries continuously studied by GEM. In regions like Greece, Venezuela, and Israel, women have outpaced men in international startups, although these numbers remain exceptions rather than the norm.