In a world where women have yet to gain equality to men in many sectors, women in all countries are turning to entrepreneurship as a way equalize income. However, women still face barriers, even in the US, that hold their businesses back. According to an article from Ernst & Young, 40-50% of businesses in developing countries are women owned, yet they are facing huge obstacles, including:
– Women in Kuwait can not work past 8:00 pm
– In Swaziland, in order to open a bank account or start a business, women need the permission of their father or husband.
– Even in the United States, women start businesses at twice the rate of men, yet only 3% reach the $1 million mark, compared to 6% of men-owned businesses.
To read more from Ernst & Young on the challenges that women entrepreneurs face, click here.