Women in Latin America lead the intention to start a business with the smallest gender gap globally

Mastercard today presented the study “Empowerment for All: Supporting Women Entrepreneurs”, which positions Latin America and the Caribbean (LAC) as the region with the smallest gender gap in entrepreneurial intent worldwide. The report reveals that, despite sectoral differences, interest in entrepreneurship is practically the same between men and women. 75% of women and 76% of men have considered starting a business, and this trend continues for those who plan to do so in the future (76% women vs. 77% men), reflecting a growing equity in entrepreneurship opportunities.

However, the findings show that, for many women, turning an idea into a sustainable business continues to represent a challenge, with the lack of financing and financial resources being one of the main barriers for those who want to start a business in LAC. For those who already have a business, child care becomes an additional challenge.

In response, Mastercard reinforces its commitment to financial inclusion through initiatives that promote digitalization, financial education and access to strategic tools, thus strengthening the competitiveness of the female entrepreneurial ecosystem in the region.

Among them, the INCAE Virtual Accelerator offers specialized training to strengthen the presence of women entrepreneurs in international trade, while Entrepreneur’s Odyssey provides access to world-class academic and business resources, facilitating the growth and consolidation of small businesses in the digital ecosystem.

In addition, the Strive program, developed by the Mastercard Center for Inclusive Growth, supports women-led small businesses through financial management and digitization tools, enabling them to overcome obstacles and increase their competitiveness in the global marketplace.

Other findings on the advancement of female entrepreneurship in LAC

49% of women in LAC have already started their own business, consolidating their participation in the regional economy. The study identifies the main reasons why women decide to become entrepreneurs:

72% are looking to generate more revenue
39% want to achieve economic independence
37% want to save for a specific goal

In addition, the most relevant sectors for women entrepreneurs in the region are:

Freelancing (28%)
Online sale of own products (27%)

«In Mastercard we are committed to supporting small and medium enterprises, providing innovative services to accelerate their digitalization and strengthen the economy. Since 2020, he has backed more than 50 million businesses, including 37 million led by women, with solutions designed to boost their growth, ”said María Barreiros, product vice president and solutions for small and medium -sized Mastercard companies in Latin America and the Caribbean.Empowering future entrepreneursIn order for more women to venture into strategic sectors, it is essential to strengthen education in science and technology from an early age. Developing these skills expands your job opportunities and accelerates innovation in the region.

In this context, Mastercard leads Girls4Tech™, a global program that has benefited thousands of girls in the last decade. Designed to close the gender gap in STEM (Science, Technology, Engineering and Mathematics), the program addresses topics such as algorithms, encryption, biometrics and Big Data, fostering female leadership in technological disciplines. Since its inception in 2014, Girls4Tech™ has established itself as the world’s largest STEM program for girls ages 8 to 12, according to Euromonitor.

“The success of small and medium-sized enterprises is a shared success, as they play a vital role in communities globally and locally. When they thrive, they benefit everyone around them. No one understands this better than Mastercard, which works to empower every business with reliable, effective and secure solutions, accompanying them at every stage of their growth,” added Luz Gómez, Vice President of Social Impact for LAC at Mastercard’s Inclusive Growth Center.

Through its network of community leaders, banks, technology partners, and merchants, Mastercard continues to develop innovative solutions and inclusive support for small businesses, ensuring women entrepreneurs have the tools they need to grow their businesses and achieve their goals.

Scope and methodology of the research

The study was commissioned by Mastercard, and the fieldwork was carried out by the independent research agency Opinium, between December 16, 2024, and January 3, 2025, an online quantitative survey was conducted in 41 countries across North America, Latin America, Asia-Pacific, Europe, the Middle East, and Africa that included 42,500 people from the general population and 4,300 entrepreneurs/founders. The full list of countries surveyed is: United Kingdom, France, Germany, Italy, Spain, Austria, Ireland, Belgium, Norway, Denmark, Czech Republic, Greece, Poland, Netherlands, Sweden, Portugal, Slovakia, Switzerland, India, Indonesia, Singapore, Australia, China, Thailand, Korea, South Africa, Nigeria, UAE, Saudi Arabia, Turkey, Kenya, Egypt, Ukraine, Morocco, Brazil, Mexico, Colombia, Argentina, Chile, Canada and USA.