Female Entrepreneurship and its Challenges in the Developing World

Female-owned enterprises play a crucial role in the economic development of a country. Female entrepreneurs employ more women, which in its turn increases the female labor force participation rates, helps in fighting against trafficking, results in increased innovative capacities and private sector development. Successful female entrepreneurs pave the way for the future generations of young, aspiring women and shape more equitable and inclusive societies as a result.

Despite their importance, the numbers of female entrepreneurs in developing countries are disproportionately low. The development of female entrepreneurship highly depends on the cultural, religious, and social norms of a given country. Some of the main challenges of female entrepreneurs in developing nations are highlighted in this article.

Gender Roles and Cultural barriers

Women entrepreneurs in most developing countries have extra responsibilities at home, which their male counterparts are deprived of. The household chores are unevenly distributed, with the main burden falling on the female, despite her status, education, background, and ability to generate income. This unfair “division” of labor is more often than not the result of the gender stereotypes that are imposed by the male-dominated, traditional…