ABSTRACT

Over the past decades, women have demonstrated significant progress in different fields, including health and education, as well as economics and politics (Global Entrepreneurship Monitor [GEM], 2015). They have not only become more visible in these fields but also achieved successful results in terms of performance outcomes as paid workers, managers and entrepreneurs. These developments have occurred simultaneously with the rise of women-owned businesses worldwide. In 2012 an estimated 126 million women initiated or ran new businesses in 67 economies around the world and 98 million ran established businesses (GEM, 2012). Although female entrepreneurs are growing in importance and making substantial contributions to world economies, their potential is still underutilized, with negative implications for job creation, innovation and wealth generation (Greene, Han, & Marlow, 2013). Moreover, a brief review of the research on women’s entrepreneurship reveals that, even though the number of studies on the topic is increasing, there is a lack of reliable data and inferences on women’s entrepreneurial activity in developing countries and emerging economies (Jamali, 2009).