Female entrepreneurship vital for economic growth, concludes European forum
Increasing the rate of new business creation by women is essential in stimulating innovation and employment in Europe, concluded the European forum on female entrepreneurship on 28 March. Women entrepreneurs are a rapidly growing sector of the business population, working not only in industries where they were traditionally active, but also in less traditional sectors such as manufacturing, construction and transportation. Nevertheless, the percentage of self-employed women is still relatively low, accounting for only 28 per cent of in Europe as opposed to 35 per cent in the USA. In his message to the forum, Enterprise and Information Society Commissioner Erkki Liikanen said that 'Europe needs more dynamic women-owned enterprises. [...] All of us, European institutions, Member States, the private sector, professional organisations, financial institutions and education authorities must collaborate in order to promote female entrepreneurship.' The forum presented the results of the Best project, launched in 2001, on 'promoting entrepreneurship amongst women'. While Member States have implemented specific actions or measures to support female entrepreneurship, the project is the first attempt to create a process of exchange of information or good practice between Member States. The project provides an overview of some 132 measures adopted by national administrations in the EU and the countries from the European Free Trade Association (EFTA) participating in the European Economic Area (EEA). The measures promote female entrepreneurship, particularly in the fields of start-up, funding, training, mentoring, information, advice and consultancy, and networking. Of the 132 measures, a project publication promotes 15 cases of good practice from Europe as well as other countries from the organisation for economic cooperation and development (OECD). It showcases a variety of actions including agencies specifically set up to support potential women entrepreneurs in marketing and accountancy e-training; different methods of providing financial support and the organisation of awareness-raising events.