MANILA, Philippines — A survey of women entrepreneurs in 65 countries last year showed the Philippines led in terms of advancement results, but ranked 26th globally in the global rankings.
The Mastercard Index of Women Entrepreneurs survey has tracked the actions taken by and for women in the private sector as they move up or down over the past five years.
The survey looked at three main components: outcomes for women’s advancement; their knowledge and financial access; and the conditions for supporting entrepreneurship.
The survey, which marked its fifth edition last year, uses 12 indicators and 27 sub-indicators for its main components.
These are based on data from a variety of sources, including the World Bank and the International Labor Organization. This latest survey covered 65 economies, representing 82% of the global female workforce.
However, he did not specify whether the women entrepreneurs interviewed belonged to micro, small, medium or large companies.
“[The] The Philippines emerged as the top-ranked economy in Component A (women’s advancement results) for the third year in a row,” according to the survey report seen by the Inquirer on Friday.
“This was driven by a high ranking in ‘women entrepreneurs’ at 52.8%, ‘women professionals’ at 58.4% and broad gender parity in entrepreneurial activity, although it is held back in the overall ranking by low scores in other areas such as “government”. [small and medium-sized enterprise] support” and “access to finance,” the report says.
Help for small businesses
The country also ranked 26th in the 2020 Mastercard survey, rising from 20th place in 2019.
The Mastercard ranking is based on socio-economic factors that help or hinder women’s ability to thrive in the private sector.
He placed the United States at the top of the overall standings, followed by New Zealand and Canada.
Taiwan ranks first among Asian countries in sixth place overall, far ahead of China (27) and Japan (40).
Among the Philippines’ partners in the Association of Southeast Asian Nations, Singapore ranks 18th, followed by Thailand (19th) and Indonesia (25th). Those that ranked lower than the Philippines were Malaysia (28) and Vietnam (38).
In a statement on the findings, Simon Calasanz, country manager of Mastercard in the Philippines, said women-led small businesses need to be assisted in a variety of ways to help them grow their businesses.
“Women entrepreneurs in the Philippines are a vital part of the country’s economic recovery. Therefore, there is a need to ensure that women entrepreneurs, especially small business owners, have access to the knowledge, resources and tools they need to thrive and scale,” Calasanz said.
In the case of Mastercard, he said the company is working with its public and private sector partners to provide “payments technologies and access to initiatives like the company’s digital acceleration program” at 25 million female entrepreneurs.
These will help them “participate in the digital economy and become more resilient”, he said.
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