Southeast Asia, with its dynamic economies and diverse cultures, is rapidly becoming a global hub for investment and innovation. The region’s growing middle class and population of over 600 million people have attracted the attention of investors and entrepreneurs worldwide. What stands out, is the remarkable rise of women entrepreneurs who are not only navigating traditional obstacles but also reshaping the economic landscape. According to DealStreetAsia, startups in Southeast Asia with at least one female founder raised $1.41 billion in equity funding in 2023, accounting for 18.3% of total private capital secured that year. These trailblazers are pushing boundaries, sparking innovation, and driving Southeast Asia towards a more inclusive and prosperous future. 

In 2022, Kindred, a femtech startup founded by a group of passionate women, launched the Philippines’ first-ever hybrid women’s health clinic. Initially established as a virtual clinic during the pandemic, it has swiftly expanded into a physical space, providing consultations with highly trained and experienced professionals across various fields, including gynaecology, urology, dermatology, psychiatry, psychology, and nutrition. Committed to delivering high-quality, holistic care, Kindred’s rapid growth underscores the influence of women entrepreneurs in Southeast Asia, who are not only overcoming obstacles but also driving innovation that transforms the healthcare industry and beyond. The success of Kindred stands as a testament to how women-led businesses are addressing unmet needs, creating meaningful change, and reshaping the business landscape.

This article explores the transformative role of women entrepreneurs in the region, the challenges they face, and the critical importance of empowering them to fuel both social and economic progress.

Factors behind growing role of women entrepreneurs in Southeast Asia

Women are increasingly taking charge in Southeast Asia’s business world. Women-owned businesses, particularly microenterprises, make up a significant part of the economy in countries like Indonesia, Vietnam, Thailand, Malaysia, and the Philippines. While women own a substantial share of microbusinesses in the region, they face unique challenges compared to their male counterparts.

In many parts of Southeast Asia, starting a business is often a necessity for women due to limited job opportunities. On the other hand, in more developed countries like Malaysia and Indonesia, women are increasingly pursuing entrepreneurship as a way to capitalise on business opportunities. This distinction is important because women who start businesses to take advantage of market opportunities tend to see higher financial returns and experience business growth.

Women are not just starting businesses out of necessity; they are creating valuable market solutions, especially in sectors like technology, retail, and services. As Southeast Asia’s digital economy expands, women entrepreneurs are playing a vital role in its development. However, challenges around financing, networking, and growth opportunities persist across multiple industries.

Challenges for women entrepreneurs in Southeast Asia

Women entrepreneurs in Southeast Asia face multiple challenges rooted in societal, cultural, and economic norms. In many countries, traditional gender roles dictate that women should focus on household and caregiving duties. As a result, women often struggle to balance these responsibilities with running a business, which is known as the “motherhood penalty.” This societal expectation makes it harder for women to progress in their careers or scale their businesses, limiting opportunities for growth and expansion.

Another major barrier for women entrepreneurs is access to capital. The gender gap in access to finance is one of the biggest challenges faced by women in business. Many women lack the essential networks and connections that are critical for securing investments and loans, which means their businesses often remain small and struggle to compete with the growing market. This lack of financial resources limits their ability to hire more employees, scale operations, or expand into new markets.

Additionally, many women entrepreneurs lack the support and guidance required to grow and expand their businesses. One effective way to overcome this challenge is through seeking guidance from a mentor who has walked the similar path. However, investing time into finding the right mentor through networking events, industry forums, or online platforms can be difficult to prioritise while managing daily operations.

Measures to support women entrepreneurs in Southeast Asia

To overcome these barriers, both governments and private companies in Southeast Asia need to provide the necessary support for women entrepreneurs. This includes access to financing, mentorship and policies that help balance work and family responsibilities.

Financial institutions and investors must take meaningful steps to address the gender disparities in access to finance. Providing women-led enterprises with fairer access to loans and investment opportunities which is essential for women-led startups. This is to not only support business growth but to enable women to fully realise their entrepreneurial potential.

Networking is another area where women entrepreneurs need more support. Many women struggle to build professional networks due to social and cultural factors. Creating networks through industry events, mentorship programmes, and online platforms can help women gain the connections and resources they need to succeed in business.

The economic case for empowering women entrepreneurs

Empowering women entrepreneurs in Southeast Asia has enormous economic potential. According to the World Bank and the International Finance Corporation (IFC), achieving gender equality in entrepreneurship could contribute an additional US$5-6 trillion to the global economy. Women-led businesses are also more likely to hire other women, creating a ripple effect of job creation and economic growth.

Women entrepreneurs in Southeast Asia are helping the region become more resilient in the face of global challenges like economic downturns and supply chain disruptions. Their focus on inclusivity and community development means their businesses often perform better during times of economic uncertainty. Their ability to innovate and adapt makes them a critical part of Southeast Asia’s economic growth.

A few women-owned businesses in Southeast Asia

Several companies in Southeast Asia are led by inspiring female entrepreneurs who are making a significant impact. Here are some notable examples:

• Geniebook

Geniebook, cofounded by Neo Zhizhong and Alicia Cheong in 2017, is a digital learning platform that supports students across Southeast Asia. The company’s founder believes that leadership is about empowering the team to shine, recognising the achievements of each individual, and promoting a collaborative environment where everyone can excel. By prioritising teamwork and collective success, Geniebook has grown as a powerful educational tool in the region. 

• Studio CKP

CKP Studio, founded in Phuket in 2016 by architect and designer Ckori Pena, is a boutique architectural firm specializing in sustainable design. With a diverse international team, the studio integrates eco-friendly materials and innovative processes to create inspiring spaces. Pena, with 15+ years of experience, advocates green technology and excels in residential, commercial, and master planning projects.

• BilaBila Mart

Founded in 2020 by Malaysian entrepreneur Lee Hui Jing, BilaBila Mart has grown into one of the country’s fastest-rising convenience grocer chains, with over 48 outlets to date. More than just a store, it bridges the gap between convenience and grocery retail, championing local, homegrown brands by giving small businesses free shelf space in a competitive market.

• Pili Ani

Pili Ani, founded by Rosalina Tan and her daughter Mary Jane, emerged from a desire to support Filipino farmers. Initially buying Pili Oil to help farmers, Rosalina discovered its skincare potential. In 2012, they invested in clinical tests, leading to the brand’s launch in 2016. Pili Ani combines two precious oils from the Pili Tree, promoting sustainable farming practices and providing fair wages to local communities.

• Asia Dragon Capital Joint Stock Company (ADC)

Ms. Hoa Thi Viet Nguyen started Asia Dragon Capital Joint Stock Company in 2006 after seeing an opportunity in the rope and twine industry. Based in Vietnam, the company now supplies high-quality polymer products to markets around the world, including the US, Europe, and Australia.

• PT Nippon Indosari Corpindo Tbk

In 1995, Mrs. Wendy Yap co-founded PT Nippon Indosari Corpindo Tbk, introducing mass-produced Japanese-style bread to Indonesia. Under her leadership, the company expanded its product range and became the first bread company to list on the Indonesia Stock Exchange in 2010. Today, PT Nippon Indosari operates 14 strategically located factories nationwide, with a distribution network exceeding 88,000 sales points, solidifying its position as a leader in Indonesia’s food industry.

The rise of women entrepreneurs in Southeast Asia is a powerful driver of economic growth and innovation. By investing in women entrepreneurs and supporting gender inclusivity, governments and businesses can unlock tremendous economic potential for the region. Empowering women leads to stronger, more equitable societies, where women can contribute their talents to every area of life—business, politics, arts, and beyond.

As the region continues to support women entrepreneurs, Southeast Asia will witness a new wave of growth, innovation, and prosperity. With the right support, women will continue to play a central role in driving the region’s future success. 

We need women at all levels, including the top, to change the dynamic, reshape the conversation, to make sure women’s voices are heard and heeded.

– Sheryl Sandberg