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Female entrepreneurs aspire to drive new businesses

March 12,2018

   
   

Women entrepreneurs have been increasingly leading innovation to drive global economic transformation and job creation, according to a survey by EY.

The women entrepreneur participants in Asia Pacific region generated a combined revenue of over US$687 million in 2017.

“What we’re seeing in the market today is that innovation is a critical driver of economic growth and job creation. And it’s clear that women entrepreneurs, when empowered with right support and resources, are leading the way,” said Annette Kimmitt, EY Global Growth Markets Leader.

EY has just announced winners of a women leadership program. Five Chinese women entrepreneurs, among a total of  23 participants from 11 countries and regions, were selected to the EY Entrepreneurial Winning Women Asia-Pacific program.

In 2018, 75 percent of corporate executive teams have at least one woman, compared with the 66 percent last year, according to a latest report of Grant Thornton China, an independent accounting member firm of Grant Thornton International Ltd.

This proportion is 71 percent in the Asia Pacific region, 81 percent in developed countries in Northern America and 89 percent in Africa this year.

However, female executives account for only 24 percent among all corporate executives globally, down from 25 percent in 2017. The proportion in emerging economies are getting higher, while that in APAC dipped to 23 percent this year.

"Women executives can be seen in more and more companies, which is inspiring, yet the proportion still needs to be improved," said Xu Hua, partner of Grant Thornton China.

Xu said under current global economic fluctuations, technological innovation and disruption, the importance of gender balance in the workplace is increasing significantly.