WW x WL: Top 3 Countries for Female Entrepreneurs in Latin America
Written by Maria Herrera (C’28); Edited By Valeri Guevarra (W’26)
Latin America and the Caribbean are brimming with entrepreneurial energy, and women are at the forefront of this trend. The top three countries for female entrepreneurs are Peru, Brazil, and Colombia. Here's why:
Peru: A thriving entrepreneurial ecosystem
Peru has one of the highest percentages of female entrepreneurship in Latin America, with 36% of enterprises run by women. Women in Peru are stepping up to embrace economic possibilities, sometimes out of necessity but increasingly by choice. The government and numerous non-profit organizations have helped to create a favorable atmosphere for female entrepreneurs by providing financing programs and business training courses. This assistance has enabled many women to start and grow their own enterprises, contributing to the country's thriving economy. Furthermore, women own 29.5% of enterprises in Peru, the highest figure in the area, and are especially active in textiles, handicrafts, and small-scale agriculture industries.
Brazil: Innovation and Diversity
Renowned for its size, economic acumen, and creative energy, Brazil is a giant in Latin America Brazilian women entrepreneurs are creating waves in social initiatives, fashion, and technology as well as other sectors. Particularly helping female-led businesses is the country's robust startup scene, which features several incubators and accelerators. Comparable to men, Brazil's female entrepreneurial activity rate is 23.1%; women run 10.1 million businesses in the nation, or about 23% of all businesses. Moreover, programs like EY's "Winning Women" and "Mulheres Empreendedoras" provide money just for women, mentoring, and networking opportunities, enhancing their entrepreneurial success.
Colombia: Resilience and Growth
Particularly in the years following conflict, Colombia has made great strides in supporting female entrepreneurs. Often turning challenges into opportunities, women in Colombia are bringing innovation and progress. Women starting and growing businesses find it easier since the government emphasizes improving the business environment and reducing bureaucratic obstacles. Among all the countries, Colombia boasts among the highest female entrepreneurial activity rate of 26%. Though barely 13% of enterprises, women own 47.6% of single proprietorships in Colombia. Female entrepreneurs benefit much from organizations like WeConnect International and Inter-American Development Bank (IDB) projects, which help to supply tools and capital. Colombian women operate in retail, services, and small-scale manufacturing among other sectors.
Regional Impact
Latin America and the Caribbean have the greatest percentage of female-founded firms in the world, at 21.2%. Women's entrepreneurial energy not only boosts local economies, but it also contributes to regional social and economic development. Peru, Brazil, and Colombia are setting a good example for other countries to follow by creating an open and welcoming environment for female entrepreneurs.