27 August 2016
If you’re a female entrepreneur, New York is the place to be, so says the World Economic Forum (WEF).
In a report authored by Joe Myers, WEF’s Formative Content writer, Nigeria placed 23rd out of 31 countries polled for the study.
Nigeria scored 38 points, beating Turkey (36), Uganda (36), Tunisia (29), Egypt (24), India (17), Pakistan (14) and Bangladesh (12).
The U.S. came tops with 71 points, while Canada and Australia scored 69 points each to berth at the second position.
The Big Apple came out on top of a list of 25 cities in research conducted by Dell and data analysis firm, IHS Markit.
Based on the cities in Dell’s own Future Ready Economies research, the report looks at female entrepreneurship at the local level.
Although only based on a limited pool of 50 cities, a clear pattern emerged. European and North American cities dominated the top 10, with just two outside these regions – Singapore and Sydney.
The rating is based on five pillars with over 70 indicators. New York comes on top in two of these and first overall.
Second place goes to the Bay Area, which comprises the San Francisco and San Jose metro areas. It ranked first for talent and second in capital and markets. London takes third place.
The top 25 cities do have a more international feel, featuring cities such as Beijing and Sao Paulo.
The strength of Europe and North America was reflected in previous Dell Research, looking at the best countries for female entrepreneurship.
As the World Economic Forum’s Global Gender Gap report has highlighted, significant gaps remains between men and women in the workplace.
Women continue to earn less than men, while they hold just 28 per cent of leadership roles.
The Forum report highlights the correlation between gender equality and economic performance and competitiveness.
Research suggests that closing the gender gap could boost U.S. GDP by up to 9 per cent and Eurozone GDP by 13 per cent.
Encouraging female entrepreneurship – the “untapped potential” as the Dell report puts it – isn’t just the right thing to do. It also makes economic sense.