Eurochambres Women Network Survey 2023: A Picture of Female Entrepreneurship

The current economic environment is particularly challenging for all entrepreneurs. The different crisis of the recent years (Covid-19 pandemic, war in Ukraine and the subsequent increase on energy prices) are taking a toll on European businesses. The Eurochambres Women Network Survey 2023: A Picture of Female Entrepreneurship takes a look on how women entrepreneurs in particular are reacting to the current challenges, while also considering the issues that are more specifically pertaining to female-led businesses.

The results shown that not only women entrepreneurs demonstrate resilience in facing adversities, but also that they have a long-term vision and welcome changes and challenges in a prompt and forward-looking manner. It suffices to cite their commitment in sustainably and digitally transforming their businesses activities, which they started well before the current economic situation. Unquestionably, women entrepreneurs need more support from public institutions and the creation of target measures. The chamber network is already active at local level with initiatives to back up female-led businesses, to prepare women to fulfil managerial roles in already existing companies.

Eurochambres Women Network Survey 2023: A Picture of Female Entrepreneurship survey touches upon different subjects, from skills to work-life balance, from financing to digitalisation and it aims at giving a glance into business environment for a woman. The main objective is provide a help to decision makers to develop more targeted initiatives to support women entrepreneurs across Europe.

From December 2002 until March 2023, 823 replies were collected from women entrepreneurs on 24 countries (EU and neighbouring countries). Although the survey is mainly aimed at women entrepreneurs and self-employed women, a certain number of replies have been obtained by women who do not own a business, but still play a managerial role in the company they work for.

The main results are the following:

• Bureaucracy and liquidity/access to finance are the main obstacles encountered by women entrepreneurs. Procedures linked to initiatives to support female entrepreneurs must be simplified, particularly at national level. With regard to access to finance, it is still necessary to ensure that women have facilitate access, without being discriminated because of their sex or because of their fields of activity.
• Same chances and equal pay: many women entrepreneurs complained about the lack of time for training and professional qualification. Promoting role models in male-dominated sectors and a focus on education must be ensured. Remuneration must become uniform and women need real chance in accessing managerial positions.
• Women entrepreneurs are at the forefront of digital and sustainable transformation. Most are investing in digital and sustainable transformation, and many started before the pandemic and energy crisis. However, decision-makers must guarantee access to information on measures and funding initiatives to support these transformations.

The full report can be downloaded here.