Young Women: Trailblazers in the Business World

By Loov Eesti

In today’s world, women refuse to be confined – especially in the realm of business. The impact of female entrepreneurs in Estonia is undeniably noticeable and intriguingly distinct. How so? Studies reveal that women tend to take on entrepreneurial roles, particularly during challenging times when the economy faces setbacks. The GEM (Global Entrepreneurship Monitor) study, conducted a few years ago, highlighted that women in Estonia are more active in entrepreneurship compared to our neighboring countries. For instance, the study revealed that in Estonia, 12 percent of women have taken steps to engage in entrepreneurship or have been involved in business for up to 3.5 years. In contrast, the figures were 9.6 percent in Latvia, 5.6 percent in Finland, and only 3.1 percent of women in Germany.

Freedom of Self-Leadership

In Estonia, the journey into entrepreneurship often begins at a younger age, but as age increases, the level of entrepreneurial activity tends to decline. A recent study conducted by the Visa program She’s Next uncovers fascinating aspects of the world of Estonian female entrepreneurs. The primary motivator for becoming an entrepreneur is the desire to be one’s own boss – a sentiment expressed by every second respondent. This freedom of self-leadership serves as the driving force propelling women into the world of entrepreneurship.

Emerging Motivators

The study highlights several intriguing motivators that encourage women to become entrepreneurs. They see a market for their product or service (44%), seek higher earnings (38%), desire more personal time (22%), or have lost traditional employment (13%). The social aspect doesn’t take precedence, as only 5% mentioned encouragement from friends and a mere 3% aimed to expand their social networks.

Support for Female Entrepreneurs

As a result of the study, a need for more female entrepreneurs becomes evident. While it’s generally easier for men to enter the business world, women still aspire to see equal representation. Although half of the female respondents express this need, only a third of male respondents share the same sentiment.

Conclusion

The impact of female entrepreneurs in Estonia is both palpable and inspiring. Women refuse to be relegated to the background; instead, they inject the business world with bold ideas and innovation. Their aspiration to be their own bosses and participate in entrepreneurship showcases their ability to shape not only the business landscape but also contribute to the development of the tourism industry as well.