Study: Female-led SMEs ahead in digital presence
A woman using a laptop - a new study by MasterCard shows that women-owned SSMEs are leading the way in tapping into the power of the digital economy.
What you need to know:
- A new MasterCard Middle East and Africa research shows that 81 per cent of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68 per cent of their male counterparts.
- The study also found that in the Middle East and North Africa, more women entrepreneurs (71 per cent) had a website than a social media presence which stands at 55 per cent.
A new research by MasterCard has revealed that women-owned Small Scale and Medium Enterprises (SMEs) are leading the way in tapping into the power of the digital economy to succeed and grow.
The study shows that women-owned SMEs believe there are huge benefits of a cash-free economy to their businesses.
According to the inaugural MasterCard Middle East and Africa (MEA) research, 81 per cent of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68 per cent of their male counterparts.
Social media leads in digital footprint of the region’s women entrepreneurs at 71 per cent followed by a company website at 57 per cent.
The study also found that in the Middle East and North Africa, more women entrepreneurs (71 per cent) had a website than a social media presence which stands at 55 per cent.
The MasterCard survey adds that confidence levels around digital transactions are high with 30 per cent of women entrepreneurs in MEA experiencing no challenges in accepting digital payments versus cash payments, especially mobile payments (62 per cent), online payments (57 per cent) and card payments (45 per cent).
Multiple channels
In Southern Africa, this confidence is further elevated with two-thirds (67 per cent) accepting more payments digitally.
The women entrepreneurs said the increased efficiency of transactions across multiple channels and the ease of not handling or processing cash was the biggest benefits of a cash-free economy to their businesses.
They also appreciated having a more convenient way of paying suppliers and employees, faster access to revenues, less potential for fraud and access to new business growth opportunities.
“The MasterCard MEA SME Confidence Index revealed that more than 80 per cent of women entrepreneurs have digital readiness for their business compared to their male counterparts, yet so few have access to funding for their business growth. Globally, women-owned businesses are well represented in the entrepreneurship space, yet it is estimated that they only access between two and 10 per cent of commercial bank finance,” said Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa, MasterCard.
MasterCard has pledged $250 million and committed to connect 50 million micro, small and medium-size businesses globally, to the digital economy by the year 2025 using its technology, network, expertise and resources.
This is in support of the company’s goal of building a more sustainable and inclusive digital economy. As part of these efforts, the organisation is focused on connecting 25 million women entrepreneurs.
