#29Untoldstoriesin29Days Advance women as business leaders Opportunity vs Necessity driven entrepreneurship

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Opportunity versus necessity driven entrepreneurship according to the Mastercard Index of Women Entrepreneurs 2019.

Opportunities, passion or financial independence? Familiar words before initiating your business idea or business venture? Well, lets have a very brief discussion about opportunities versus necessity driven entrepreneurship.

Businesses are not only initiated on opportunistic grounds. Business ownership markets in MEA

(Uganda, Ghana, Botswana, Malawi and Angola) and Europe (Russia and Belgium) women tend to start businesses out of necessity especially in Ghana, Botswana, Malawi, Russia, Angola and Brazil.

In contrast, in more developed markets such as Australia, Hungary, UK, Switzerland, Canada, Belgium and US experience a higher fear of failing rates however it does not deter women from wanting to improve their income or financial situations. 7 out of every 10 entrepreneurs are driven by opportunities.

Entrepreneurial conditions (cultural perceptions of entrepreneurs)

  • Ghana 63.1%
  • Botswana 51.9%
  • Uganda 67.2%
  • Malawi 48.3%
  • United states 76.5%

LinkedIn poll analysis:

Question posed: Why did you choose entrepreneurship?

  • Financial freedom 19%
  • Passion 33%
  • Both 48%

Countries contributed: Ghana,

  • South Africa
  • Botswana
  • Nigeria
  • Ethiopia
  • United States

Gender: more women ranked at starting businesses for financial freedom.

The empowerment of women in business remains essential and requires joint efforts universally. 

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Source for image: iCharts

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