Female Entrepreneurs and Global Economic Development

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There is a way to double the global economy, although it is underestimated by companies around the world. This surefire method is the development of female entrepreneurship which can help to raise the economy. Venture capital funds, civil society organizations, and large companies should play a key role in this process (Cornish, 2017). Their joint efforts should be aimed at solving a critical and at the same time underestimated problem: the lack of communities in which women entrepreneurs are provided with support and professional assistance.

What difficulties and issues does women’s entrepreneurship face in the modern world? One of the main problems is the low availability of funding, as well as the weak viability of female startups, and the lack of growth (Alecchi, 2020). The key to solving these issues, according to researchers, is high-quality networking and the ease of access to the business community. Countries with easier access to the entrepreneurial community have smaller gender gaps in the performance and vitality of startups.

Although many of the barriers that entrepreneurs face are common, women find it more difficult to overcome them. The main obstacles remain a lack of information, limited access to finance for starting a business, unfavorable tax policies, and difficult administrative procedures. Therefore, state policies should increase the economic opportunities of women by supporting those who start, formalize, or develop their businesses, as well as by integrating gender equality issues in the development of enterprises.