Women entrepreneurship in Romania, still far away from top performer countries in the region

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In Romania, women are a minority in the business community, even though they account for 51 percent of the population.

According to Mastercard Index of Women Entrepreneur 2017 carried out in 54 countries around the world, Romania is ranked 28th with only 25.3 percent of the total number of businesses owned by women, compared to 30.8 percent in Spain, 29.6 percent in Poland and 27.8 percent in Hungary, quoted by Valoria Business Solutions in a press release.

Not only that the number women in entrepreneurship is significantly lower than that of men, also the areas that they choose for business development are different.

Women preferred industries are trade, education and services, which often are perceived as less important for economic growth and development than, for example, the IT&C industry or production.

Moreover, the regulatory framework and programs in place to support entrepreneurship seem not to take into account the specific needs of women in general and women entrepreneurs specifically – the difficulty to combine family with professional life, discouragement, distrust, and the sexist stereotypes which demonstrates that collective mentality on women in business in Romania is still in development.

Academic studies argue that, in Romania, women are more motivated to open a business because their need for independence and professional fulfillment that they could not fulfil in the workplace, while men are driven by the need to control and overcome challenges.

Also, sociological studies show that businesses run or owned by women are 14 percent more oriented opportunities and initiatives, 10 percent focused on ethics and integrity, 9 percent more oriented towards efficiency and effectiveness, and 8 percent more active in employee development.

To adjust this situation, specialists suggest that it’s important to create a government department responsible for supporting female entrepreneurship, by creating business centers for women, organizing seminars and business meetings, providing relevant information for women entrepreneurs and helping improve conditions for the development of businesses held by women.

At the same time, undertaking an impact study of the role women play in developing the business environment is needed, thus integrating the aspects of women entrepreneurship in policies concerning SMEs, taking into account in the design phase of these policies the impact thereof on female entrepreneurship.

 

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