Switzerland ranks at number 3 in the ‘Mastercard Index of women entrepreneurs’

DIVERSITY

The fourth edition of the Mastercard Index of Women Entrepreneurs indicated that Switzerland has risen to the podium of the best framework conditions in the world for the first time after Israel and the United States

 Switzerland ranks at number 3 in the ‘Mastercard Index of women entrepreneurs’
Switzerland offers good conditions for female managers

Switzerland ranks at number 3 in the ‘Mastercard Index of women entrepreneurs’

Switzerland offers good conditions for female managers

 Switzerland ranks at number 3 in the ‘Mastercard Index of women entrepreneurs’

Switzerland ranks at number 3 in the ‘Mastercard Index of women entrepreneurs’

For a female entrepreneur who wants to get ahead, Switzerland is rising and offers the best conditions in the world after Israel and the United States. The coronavirus has hit hard, but it is also offering more opportunities for female managers.

The indications emerge from the fourth edition of the Mastercard Index of Women Entrepreneurs (MIWE), an index that documents the situation and progress in 58 countries, representing 80% of the planet's population.

In the ranking drawn up by the researchers, the Confederation obtained a score of 71.5 and for the first time landed a spot on the rankings, taking third place. In 2019 it was still 11th, with 65.2 points. The increase is mainly due to the strengthening of support measures for small and medium-sized enterprises (SMEs), as well as to the change in the social perception of entrepreneurs. Furthermore, Switzerland is considered one of the most successful economies in the world (it ranks sixth) in the allocation of aid packages linked to Covid-19 to companies.

"The results of MIWE 2020 confirm that female entrepreneurship thrives above all in high-income and developed economies such as Switzerland, Israel, USA, New Zealand and Poland, where the level of prejudice towards women entrepreneurs is low, access to 'education and financial support is high and business conditions are good,' say the authors of the research.

However, women have been particularly affected by the pandemic: in high-income economies, 70% of female entrepreneurs said they had suffered disadvantages due to the coronavirus crisis. Being very active in the sectors most affected by the economic crisis and the difficulties in caring for children are just two of the factors that have put women in a particularly difficult position.

At the same time, however, the study sees signs that the pandemic may prove to be a catalyst that can encourage decision makers to take gender-specific measures. Women politicians, in particular, have proven to be leaders in crisis management around the world and have improved the reputation of female leaders. Furthermore, the crisis has shown that women have a high degree of adaptability: 42% of the interviewed entrepreneurs switched to a digital business model and 34% identified new business opportunities.

"A crisis always reveals the weaknesses of the system and Covid-19 has done it to the highest degree," said Daniela Massaro, director for Switzerland of Mastercard, quoted in a statement. “We see the magnitude of inequality, but we also see positive impulses and progress. The question to ask is: are we brave enough to seize the opportunities? Or will we cling to a dysfunctional system that is strengthening as a result of the pandemic? '

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