Latin America and the Caribbean is the region where there are more women entrepreneurs.
Despite the difficulties that the COVID-19 pandemic has implied and adverse conditions such as the gender gap, in America, especially in Latin America, 24% of women are entrepreneurs.
Women entrepreneurship in Mexico.
With 4 million 600,000 women who are self-employed and create companies that create jobs, Mexico ranks 4 among the countries with the most women entrepreneurs, according to the 2020-2021 study by the Global Entrepreneurship Monitor, which considered 43 countries worldwide, 10 of them from the American continent.
Until the IMCO count in March 2021, Mexican female employer entrepreneurs were mainly concentrated in the restaurant, accommodation and commerce sectors. By comparison, male employers are concentrated in the construction, agriculture and livestock sectors.
One of the main motivations of Mexican women to undertake is the lack of flexibility in traditional jobs, so that in this way their ventures allow them to generate an income without abandoning their activities at home.
The Mexican Institute for Competitiveness (IMCO) found that an average Mexican entrepreneur is between 25 and 44 years old, is married, has one or two children, earns 3,707 pesos a month, studied until high school and operates informally.
According to data from the National Survey of Occupation and Employment (ENOE), entrepreneurship in formality brings multiple benefits such as average income 2.5 times higher than those who undertake in informality. The reality is that in Mexico 8 out of 10 women undertake informally, so they cannot have access to these benefits and that it becomes a factor to undertake and maintain such enterprises over time.
This lack of formality in ventures is mainly due to 3 factors: the high cost in time and money of administrative procedures, the lack of access to financing and the lack of training in finance, accounting, business development and other skills. .
The increase in informality in women's businesses became more evident from the start of the pandemic in 2020, due to the elimination of jobs and the definitive closure of businesses.
Coupled with informality, there is the fact that the number of women who manage to grow their business through the recruitment of personnel is considerably less than that of men.
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The gender gap between entrepreneurs, which is 37%, is another factor that complicates female entrepreneurship in Mexico: at the end of 2021, self-employed women earned an average of 4,008 pesos, while self-employed men earned 6,338 pesos per month.
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