The next November 19 commemorates the International Women’s Entrepreneur Day which aims to empower and recognize the work of all women entrepreneurs in the world. With Mexican entrepreneurs, according to data from the National Institute of Statistics and Geography (INEGI), the economic activity of 4.5 million MSMEs is concentrated, which represent 99.8% of all businesses, 72% of employment in the country and a contribution of 52% to GDP.
X-ray of Mexican entrepreneurs
Women are still a minority
According to a study by Alegra.com, women represent 41.4% of entrepreneurs in Mexicowhile men the remaining 58.6%, that is, 4 out of 10 companies are founded by women, who employ 2.9 million people. This figure shows that there is still gender inequality in the entrepreneurial ecosystem, a situation that differs from what happens in other Latin American countries where women lead the ventures, such as Peru, the Dominican Republic, Argentina, and Costa Rica, among others. Likewise, in the country there is a certain tendency towards young entrepreneurship, where people between 18 and 34 represent almost 50% of the ecosystem.
Search for better opportunities
The Global Entrepreneurship Monitor (GEM) declares that one of the main reasons for female entrepreneurship in Latin America lies in the lack of opportunities in the traditional labor market and the existing wage gaps. According to a report by Aequales, the salary difference between men and women in Latin America is 10.6% in senior management or executive positions. While in Mexico, despite the fact that the wage gap has decreased in the last 3 years, it still reaches 12.2%, where women reported an income of 49.40 pesos per hour and men 54.10 pesos per hour. These figures lead Mexican women to pursue the dream of their own business.
Women’s entrepreneurships lead the commerce sector
According to data from the administrative software, more than 50% of the enterprises led by women belong to the trade sectoramong other sectors, services also stood out with 36.9% and, to a lesser extent, they undertake manufacturing, with only 10.8% representation.
More than half of them do not have an accounting and administrative system
According to INEGI figures, 59.1% of women entrepreneurs do not use an accounting and administrative system to keep track of their expenses and income.
This situation makes it difficult for many enterprises to have sustained and long-term growth. Accounting and administration software helps the business grow because it reduces the amount of time spent on these processes by automating them and allowing the entrepreneur’s focus to focus on making strategic decisions.
Angelica Castaneda Expert in digital marketing issues, with more than 8 years of experience in the area. Strategic Leader of Alegra.com in Mexico.