Women entrepreneurs make up perhaps one of the most untapped resources to reduce poverty. They are touted to lead the so-called “third billion,” a burgeoning group of individuals expected to make a significant impact on the global economy, similar to the billion-plus people in China and India.
In Latin America and Caribbean — where research has shown that income growth among women helped shrink extreme poverty by 30 percent between 2000 and 2010 — more and more women are starting businesses. But most of these enterprises struggle to grow from microbusinesses or exit the informal sector, thus decreasing their revenue potential, according to Women’s Entrepreneurial Venture Scope 2013.
That said, certain countries in the region are standouts in supporting female entrepreneurs, providing women with economic, regulatory, financial, educational and family support they require to open and expand businesses.
WEVentureScope 2013 is a study commissioned by the Multilateral Investment Fund, a member of the Inter-American Development Bank that offers technical assistance for the private sector in Latin America and the Caribbean to boost access to finance, markets and capabilities, and basic services. It ranks countries in the region based on risks and support to female entrepreneurs and aims to create “a standardized framework to help the public and private sectors empower women business owners.”
So which country supports women entrepreneurs the most? Check out this slide show, which ranks countries in Latin America and the Caribbean from best to worst.
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About the author
Eliza Villarino
Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.
