Infographic: BOLD By Veuve Clicquot Women's Entrepreneurship Barometer 2023 49,000 male and female entrepreneurs and aspiring entrepreneurs from 25 countries were chosen to take part in this study.
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BOLD by Veuve Clicquot, an international program for female entrepreneurs by French beverage company Veuve Clicquot, has released a study on the current state of female entrepreneurship across 25 countries, including the UAE.
Titled BOLD by Veuve Clicquot Women's Entrepreneurship Barometer, the study puts a spotlight on some of the most common prejudices, as well as the mental and structural barriers that female entrepreneurs face.
Since the BOLD by Veuve Clicquot program's launch in 2019, this has been the first time the UAE has been included in the barometer study. 49,000 male and female entrepreneurs and aspiring entrepreneurs from 25 countries were chosen to take part in this study.
Source: BOLD by Veuve Clicquot
The findings of the research show a healthy balance of financial incomes between genders, and also pinpoints that female entrepreneurs now have a growing number of female role models to look up to in the country. However, when it comes to the challenges faced, one major finding was that negative perceptions on how women balance female entrepreneurship with family life still remain.
Among the key statistics the report shows, it is shown that 60% of women say that they avoid being in a situation where they could fail, while 29% of aspiring female entrepreneurs value entrepreneurship for its role in helping to develop their own values and beliefs. In a display of a promising shift in gender bias globally, BOLD by Veuve Clicquot Women's Entrepreneurship Barometer shows 50% of female and male respondents agreeing that women assess themselves to be just as professionally risk tolerant as men.
In a clear conclusion that female entrepreneurs are becoming increasingly confident in their roles, the study showed that only 22% of women feel undeserving of their professional position. However, 40% of aspiring female entrepreneurs still feel that building a business is riskier for women than for men, with 48% also believing that the risks of building a business outweigh the potential benefits. That said, 26% of budding female entrepreneurs expressed the value in being their own bosses, while 25% of women stated that being an entrepreneur was a good way to make money.
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