The Global Entrepreneurship Monitor (GEM) shows that, worldwide, entrepreneurial success is affected by the gender of the business owner as well as cultural factors. By eliminating gender disparity, governments could jump start their economies.
Impact of the Pandemic
In many low-income countries, the extended family helps care for young children, so childcare options didn't disappear during the pandemic. Women in low-income countries were less likely than men to report business closures: 35.6% compared to 38.5%."Policies and interventions vary considerably from country to country and so do our findings," said Elam. Women entrepreneurs in low- and moderate-income countries were more likely to see government response as effective.
Cultural factors also influence startup activity. Rates for men and women are about the same in these cultural factors:That new business ownership is a high-status job.Startup rates tend to be highest in low-income countries, especially in Central and East Asia, the Middle East, and Africa.To be undeterred by fear.High-growth entrepreneurship is responsible for much of the economic impact, innovation, and job creation that spur economic growth.