New Standard Bank Survey on Women’s Entrepreneurship in South Africa Published

Access to new markets and funding are the biggest barriers to developing or taking female-owned businesses to the next level, according to a South African Entrepreneurship survey by Standard Bank. Jobs and growth in Africa will be dependent on innovation and entrepreneurship, but the survey of 130 South African female entrepreneurs found that most women are still pressured to pursue a traditional career. Yet, if they do, they are then pressured to be the “perfect business woman and homemaker”. According to the survey, which was conducted in October to coincide with the inaugural Lionesses of Africa Annual Conference in Johannesburg, female entrepreneurs are seeking more resources (31%), support (24%) and networking (22%). Interestingly, infrastructure, training and technology were not seen as barriers by this group of women entrepreneurs, but this may be attributed to the sizes of their businesses. Almost all of the respondents had relatively small to medium-sized businesses with less than 20 employees (95%), and of those surveyed 44% had children (40% married with children, while 38% were single with no children and 6% single with children). The Standard Bank survey found that being a female entrepreneur takes courage, with those who have fear choosing to overcome it. In the survey, 82% of the respondents agreed that they are “fearless” when it comes to being female entrepreneurs in Africa - and they are fearless because the fear of not succeeding is greater than that of not acting. The specific challenges highlighted in the survey need to be addressed as we build the businesses of the future that will take Africa and female entrepreneurs forward. To read the overview of the survey results here.