This document is a presentation on women in entrepreneurship in Europe. It contains statistics showing that currently only 23-26% of business owners with employees in Europe are women, though this proportion has been slowly increasing. It also notes that women are less confident than men about entrepreneurial opportunities and capabilities, and that women entrepreneurs tend to work 17% less hours and earn 34% less than male entrepreneurs. The presentation outlines initiatives that have been successful in some countries to further prepare women with entrepreneurial skills, ensure their access to credit, and provide support networks and solutions to enable women to sustain businesses during pregnancy and motherhood.

1. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
BEAUTY AND THE BEAST: DON’T UNDERESTIMATE THE
POWER OF THE TALENTS
Melanie Seier Larsen, President of Section of Women
Managers at Manager Association of Slovenia &
Principal at THE BOSTON CONSULTING GROUP
– Ljubljana, February 2015 –

2. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
entr ep r eneu r s hip
ATTRACTIVE CAREER
for {women}
C H O I C E
A M O R E
Making

3. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
In Europe, what is the share of women within the business
owners with employees?
25 %
75 %
35 %
65 %
45 %
55 %
DISTRIBUTION OF BUSINESS OWNERS HAVING >1 EMPLOYEE
- QUESTION #1 -
A B C
Women
M e n
Women
M e n
Women
M e n
ENGAGE THE FUTURE

4. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
1. Selection of developed countries in region
Source: Global Entrepreneurship Monitor (2012)
In Europe, what is the share of women
within the business owners with employees?
- ANSWER #1 -
DISTRIBUTION OF BUSINESS OWNERS HAVING >1 EMPLOYEE
ENGAGE THE FUTURE
25 %
75 %
C
Women
M e n

5. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
26% FEMALE ENTREPRENEURS IN YEAR 2011, COMING FROM ... % IN YEAR 2000
?
How did the proportion of female entrepreneurs evolve
in Europe?
- QUESTION #2 -
2011201020082006200420022000
16%A
B
C
19%
23%
ENGAGE THE FUTURE

6. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
23% 23% 24% 26%
77% 76% 75%
201120052000
+1pp
SHARE OF BUSINESS OWNERS BY GENDER,
2000-2011
Source: OECD report Women Entrepreneurs in the OECD, 2013
How did the proportion of female entrepreneurs
evolve in Europe?
- ANSWER #2 -
C
Women
M e n
ENGAGE THE FUTURE

7. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
Canada: ... %
Austria: ... %
Korea: ... %
0%
17%
23%
What share of Venture-capital investors are women
in these 3 countries?
- QUESTION #3 -
C
B
A
ENGAGE THE FUTURE

8. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
71% 73% 75% 79% 81% 81% 82% 83% 84% 85% 85% 87% 90% 91% 98%
29% 27% 25% 21% 19% 19% 18% 17% 16% 15% 15% 13% 10% 9%
Korea
100%
0%
Japan
2%
India
Spain
China
Netherlands
Switzerland
UK
Canada
USA
Ireland
Norway
Germany
France
Sweden
Austria
PERCENTAGE OF MEN AND WOMEN AMONG TOP MANAGERS OF VC INVESTMENT FIRMS
Source: OECD 2012
Canada: 17 %Austria: 29 % Korea: 0 %
What share of Venture-capital investors are women?
- ANSWER #3 -
Women
M e n
ENGAGE THE FUTURE

9. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- QUESTION #4 -
ENGAGE THE FUTURE
27A
B
C
11
5
How many of the 42 female newcomers
in the 2014 FORBES list of billionaires built
their own fortunes, as opposed to inheriting them from
their parents or husband ?

10. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- ANSWER #4 -
ENGAGE THE FUTURE
C
How many of the 42 female newcomers
in the 2014 FORBES list of billionaires built
their own fortunes, as opposed to inheriting them from
their parents or husband ?
5
THERE ARE 268 NEWCOMERS IN THE 2014 FORBES
LIST OF THE WORLD BILLIONAIRES:
42 are women,
of which 5 only built their own fortunes
226 are men, most of which
(>60%) built their own fortunes

11. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
entr ep r eneu r s hip
ATTRACTIVE CAREER
for {women}
C H O I C E
A M O R E
Making

12. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- THING TO KNOW #1 -
1. Self employed with employees.
Source:OECD report Women Entrepreneurs in the OECD, 2013
In developed countries, women remain largely under-
represented among entrepreneurs
ENGAGE THE FUTURE
SHARE OF EMPLOYERS1 WHO ARE
WOMEN IN EU27 COUNTRIES
A significant untapped
value,
as entrepreneurship is
synonym for job
creation
23% 24% 26%
77% 76% 75% Men
20112000
Women
2005
+1pp

13. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- THING TO KNOW #2 -
1. Selection of developed countries in region
Source: Global Entrepreneurship Monitor (2012)
Women are less confident than men
when envisaging entrepreneurship
ENGAGE THE FUTURE
37%31%
47%
40%
33%
47% 50%
65%
45%
35% 35%30%
MenWomen
Opportunity
perceptions
Capability perceptions
Fear of failure
for those seeing
opportunities
US Europe1 US Europe1 US Europe1

14. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- THING TO KNOW #3 -
Most women who become entrepreneurs
have different motives than men
ENGAGE THE FUTURE
49%
57%
47%53%
41%39%
Combining work and
private life
Avoid
unemployment
Realising an idea
for a new product
or service
Women Men Women Men Women Men
KEY MOTIVES FOR STARTING A BUSINESS, 2012
Source: OECD

15. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- THING TO KNOW #4 -
Women entrepreneurs generally work 17% less
and earn 34% less
ENGAGE THE FUTURE
100
66
-34%
Women averageMen average
(100 basis)
-17%
Women average
39 hrs/wk
Men average
47 hrs/wk
MEDIAN HOURS WORKED IN SELF-
EMPLOYMENT PER WEEK IN OECD
COUNTRIES
MEDIAN EARNINGS OF SELF-
EMPLOYED PEOPLE IN OECD
COUNTRIES
Note: 2008 data; High variability of women average time and earnings across
countries: from 25 to 45 hrs/wk and from 38% to 85% of average men earnings
Source: OECD report "Closing the Gender Gap", 2012

16. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
- THING TO KNOW #5 -
3 types of initiatives that have proven to work in some of
the gender mature markets
Human capital Financial capital Social capital
FURTHER PREPARE WOMEN
TO ENTREPRENEURSHIP
- specific trainings in finance, business
and consulting skills, at all educational
levels
ENSURE GOOD ACCESS TO
CREDIT TO WOMEN WHEN
STARTING THEIR BUSINESS
- through specific women funds
PROVIDE SUPPORT TO
ENABLE SUSTAINABILITY OF
BUSINESS DURING
PREGNANCY AND
MATERNITY
DEVELOP MENTORSHIP AND
ENTREPRENEUR NETWORKS
- through women entrepreneurship
associations
- specific networking events in
order to increase the visibility
ENSURE ADAPTED
SOLUTIONS ARE IN PLACE
FOR ENTREPRENEUR-
MOTHERS
- adapted family care solutions

17. Copyright © 2013 by The Boston Consulting Group, Inc. All rights reserved.
Making entrepreneurship
AT T R A C T I V E C A R E E R
for {women}
ENGAGE THE FUTURE
CHOICE
A MORE