Africa is a hotbed of female entrepreneurship. Women make up
58% of small and medium-sized business (SMB) entrepreneurs
on the continent. Despite those high rates of entrepreneurship, women-run
businesses have, on average, 34% lower profits than those run by their male
counterparts. They’re also less likely to receive funding and investment, to
say nothing of the digital gender divide in access to internet connectivity,
and a lack of financial security.
Just as closing the gender pay gap among the labour force
leads to economic growth, so can closing the gap among entrepreneurs. As Africa looks to recover from
the economic effects of COVID-19, fostering and supporting women entrepreneurs
will thus be more important than ever.
Google has long been a supporter of women's entrepreneurship in Africa, and
this is still a priority for us. As part of our celebration of International
Women's Month in March, today we're launching an integrated campaign called
#LookMeUp to
spotlight and celebrate female entrepreneurs through their stories.
Overcoming obstacles
For many women in Africa, the
lack of financial stability is one of the biggest roadblocks to starting and sustaining a successful
business. A 2021
research from the World Bank
shows that only 3% of African VC funding has gone to all-female teams since
2013. That’s despite the fact that all-female teams make up 11% of the firms
studied. One reason for this is that many small and medium-sized businesses
lack the necessary skills to adequately pitch their businesses for financing
or to discover potential sources of financial help. Recognising this, we
have made skills development a major part of the
#LookMeUp campaign
through our
Google Hustle Academy
bootcamp series.
Throughout March, Hustle Academy will feature a women-only cohort to support
women-owned small businesses grow by increasing revenue, positioning for
investment, and building a sustainable business for the future. We will also
be introducing new Primer mini-courses for women-led small and medium-sized
businesses (SMBs).
Both of these initiatives are in addition to our ongoing efforts towards
improving skills development for African female entrepreneurs.
In addition to skills development, we will also be helping
to improve the visibility of women-led African businesses through the
#LookMeUp campaign. As part of this, we will be launching a drive for women to
register their businesses on
Google Business Profile. With
consumers now also able to specifically search for women-led businesses around
them, using the women-led attribute (for example, “women-led restaurants near
me”), these businesses should be in a better place than ever when it comes to
being found.
Waking up major potential#LookMeUp is Google's latest initiative to support female
entrepreneurs in Africa. Economic development and job creation are crucial,
but so is decreasing gender disparity. Every piece of assistance we provide
women-owned businesses builds on the previous one, and we will keep doing our
bit to help women get equitable access to entrepreneurial opportunities.
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