08 Apr The importance of women in business

Today, the role of women in business is becoming more and more prominent.  It should be noted that although there are still many obstacles to overcome, today there are many more women entrepreneurs or managers of large companies.

On the other hand, it is not only important to point out female leadership, but also the causes of it happening.  It is not only about involving women in the professional field, but also about providing challenges in the same way as men. This has allowed us to know their ability to lead different activities.

We will show you 5 data that confirm that the participation of women in business has had a positive impact worldwide:

1. According to the Inter-American Development Bank (IDB), the increase in female participation in the business world impacts on the growth of per capita income and poverty reduction. This has been reflected in a study conducted in Latin America and the Caribbean. “Gender equality contributes to poverty reduction, results in higher levels of human capital for future generations, and improves the development effectiveness of public investments.” (Inter-American Development Bank, 2020).

2. When there is a greater presence of women in the projects, it increases the equal participation of the members, innovation and also creates motivation for other women who also have great ideas, but who are still afraid to show their talent. This has been proven by a study of the Patent Cooperation Treaty (PCT). In addition, according to this organization, in its registry there were 24,184 patents of women inventors, while by 2016 the number grew to 70,857, demonstrating the growth of them. “29% of international patent applications filed in 2015 have at least one female inventor’s involvement.” (World Intellectual Property Organization (WIPO), Patent Cooperation Treaty (PCT), 2015).

3. In a study conducted by the Global Entrepreneurship Monitor to 74 nations around the world, it is noted that by 2020 there were 163 million women who decided to start a business. “This not only demonstrates the magnitude of the impact women entrepreneurs have around the world, but highlights the contribution they make to the growth and well-being of their societies” (Donna Kelley, co-author of the report, 2020)

4. According to the Peterson Institute for International Economics, which is responsible for researching the impact of gender diversity on companies, they indicate that there are more and more women in strategic positions. In addition, this study was conducted in 980 companies in 91 countries, where it was found that in businesses with at least 30% female leadership, they have a 15% increase in their profitability. “The correlation relationship between the presence of women in senior management and profitability in companies is very strong. Regardless of how we twist the data, we always get the same result: women in senior management are associated with higher profitability” (Peterson Institute for International Economics, 2016).

5. Like the Inter-American Development Bank (IDB), the World Economic Forum with its study of the Global Gender Gap Index affirms that women are the key to improving the economy. Since recent estimates indicate that economic gender parity could add an additional $250 billion to the Gross Domestic Product (GDP) of the United Kingdom; $1.75 billion to the United States and $2.5 million to China. “Overcoming the prejudices, invisible or not, that prevent us from closing the gender gap represents an overwhelming economic and moral imperative.” (Klaus Schwab, 2020)

In conclusion, it can be said that the role of women in business is extremely important, even more in these times, where there is an increasing struggle to find equality. In addition, as mentioned above, there are many data that prove that women’s work achieved and continues to give positive results, not only for the economy, but also for social development.

Reference:

Iza Business Centers. La importancia de la mujer en los negocios. Extracted from https://blog.izabc.com.mx/la-importancia-de-la-mujer-en-los-negocios [Consulted: April 5, 2022]

Sage Advice. (2020). El papel de las mujeres en la actividad empresarial, un pilar de presente y de futuro. Extracted from https://www.sage.com/es-es/blog/papel-de-las-mujeres-en-actividad-empresarial-pilar-de-presente-y-futuro/#:~:text=El%20avance%20laboral%20de%20la,van%20presentando%20por%20el%20camino. [Consulted: April 5, 2022]