Even as Asia, including India, has a higher proportion of entrepreneurs compared to the rest of the world, the number of women business owners is much below the global average and is still trailing levels seen amongst their male counterparts, says a recen
Even as Asia, including India, has a higher proportion of entrepreneurs compared to the rest of the world, the number of women business owners is much below the global average and is still trailing levels seen amongst their male counterparts, says a recent report from Barclays Wealth and Investment Management.
This, it says, is despite Asia having a higher proportion of entrepreneurs (47 per cent) compared to the US (29 per cent) and Europe (30 per cent).
This new report finds that 39 per cent of high net worth (HNW) women in Asia classify themselves as business owners, which is far below the 50 per cent of high net worth men in Asia.
Globally, 44 per cent of HNW women and 49 per cent of HNW men classify themselves as business owners.
It also shows that the gender pay gap is wider for non-entrepreneurs compared to entrepreneurs.
Non-entrepreneur women earn significantly more than non-entrepreneur men, while male entrepreneurs make slightly more than their female counterparts, it shows.
However, this trend is reverse globally, where among the high net worth female entrepreneurs earn 14 per cent more than their male counterparts.
In contrast, the average income of a high net worth woman who does not own her own business is 21 per cent lower than the corresponding average male income, it adds.
For the research, more than 2,000 high net worth individuals were interviewed and in Asia 500 respondents were surveyed, of which over 200 respondents were entrepreneurs.
"Today women are at a threshold where they are moving from being a back door decision maker to board room decision maker. The present generation is supportive of women actively being engaged in family business, starting their own entrepreneurial ventures and acquiring professional education," said Satya Bansal, Wealth and Investment Management Chief Executive (India), Barclays.