19th November marks Women’s Entrepreneurship Day (WED), calling for us to celebrate the leadership and contributions of women in entrepreneurship globally. It is also an apt moment to reflect on the growth of women’s entrepreneurship over the years, take stock of the challenges and barriers that stand in their way, and present solutions to further the cause of gender equity in the business world. Championed by the Women’s Entrepreneurship Day Organisation, this day serves as a reminder of the critical role women play in shaping economies and communities around the world.
According to the latest available data, women-owned businesses globally account for 33% of the world’s private companies as of 2023. It is often claimed that these numbers could be significantly higher, as women-owned enterprises remain among the most underutilised drivers of innovation and job creation across advanced and emerging economies. Global data also highlights the rising influence of women in high-potential sectors. The GEM 2024/2025 Women’s Entrepreneurship Report shows that in innovation-driven industries, women are leading at parity with men or at a higher rate in 18 of 51 surveyed countries. This signals a significant shift: women are increasingly steering some of the most dynamic segments of economic transformation.
The United States is ranked as one of the leading countries in terms of women-owned businesses, and is reported to have a favourable environment for women in entrepreneurship. According to 2024 projections, women-owned businesses represent 39.2% of all enterprises in the US, employ 12.9 million people, and generate USD 3.3 trillion in annual revenue. Between 2019 and 2024, the sector recorded robust gains: the number of women-owned firms rose by 17.1%, employment grew by 19.5%, and revenue surged by 53.8%. New business formation is also shifting sharply. Women started 49% of all new businesses last year, indicating a 69% rise since 2019. This is also the highest rate recorded in the last five years. These figures suggest not only resilience after the pandemic but a deepening appetite among women to lead, innovate, and build.
However, global economic potential remains heavily constrained by gender gaps. Analyses across the globe have recorded persistent barriers in access to finance, networks, and opportunities. The numbers present a mixed picture of rapid growth and untapped potential. The World Bank estimates that closing gender disparities in entrepreneurship and employment could raise global GDP by more than 20%, while the IMF warns that the underuse of women’s talent constitutes a major drag on productivity.
To close this gap and harness the full economic potential of global economies, digital inclusion has emerged as a powerful enabler of women’s economic advancement. Research shows that internet development directly boosts entrepreneurship, improving access to resources, networks, and markets. UN Women estimates that closing the global gender digital divide could benefit 343.5 million women and girls, lift 30 million out of poverty by 2050, and contribute USD 1.5 trillion to global GDP by 2030. As Women’s Entrepreneurship Day is marked worldwide, the data is clear: women are driving some of the most dynamic areas of economic growth. Yet the gains remain fragile without deeper investment, stronger digital inclusion, and more equitable access to global markets. The opportunity is immense, and the world stands to benefit when women’s entrepreneurial potential is fully unlocked.
