Gender inequalities also affect women who are at the top of companies. This is what emerges from a research published by HSBC on the occasion of the International Day against Violence against Women: more than a third of women entrepreneurs face prejudice of gender during the phase of raising capital for their own activities. The bias becomes evident already during the investment evaluation process, when questions are asked about their family situation, their credibility as entrepreneurs and loss prevention.
The research found large differences between markets, with the highest levels of gender inequality in mature, western markets such as the UK and the US (54% and 46% respectively), while those in mainland China had the lowest levels ( 17%). Additionally, nearly two-thirds (61%) of female entrepreneurs are faced with an assessment team in the process of launching new financing almost exclusively composed of male investors. And this means that often these loans are not disbursed, especially in Hong Kong (68% of cases) and Singapore (59%), while American (65%) and French (62%) women have a better chance of success .
And that's not all: the research shows that, globally, all other things being equal, on average female entrepreneurs raise 5% less capital than their male counterparts. The greatest differences are seen in the United States (8%), France (7%) and the United Kingdom (6%). Consequently, 58% of the women entrepreneurs interviewed fear that gender differences could compromise the capital raising phases. The second major concern is business plan preparation (58%) and lack of support (41%).
HSBC commissioned the report “She's the Business” to understand what are the challenges that women entrepreneurs have to face when they are looking for investments. The research, in which over 1.200 entrepreneurs in Europe, Asia, the Middle East and the United States took part, is part of the ongoing work that HSBC carries out to overcome the barriers to doing business, especially for women and the obstacles they encounter on the their journey during the fundraising process.
“What clearly emerges from this research on a global scale – he commented Anna Tavano, Head of Global Banking of HSBC Italy – is that there is inequality even when women are entrepreneurs, and find it more difficult to raise capital. More can and must be done to support women in entrepreneurship. HSBC works with entrepreneurs around the world and we want to help women grow their businesses through fundraising, networking and mentorship opportunities. Our partnership with AllBright makes us very proud, as it allows us to support women's networks".
