In 2019, Veuve Clicquot created its Bold International Barometer, a groundbreaking study that provides a detailed and insightful picture of the state of female entrepreneurship around the world. For the third edition of the study in 2023, over 49,000 people were surveyed in 25 countries across five continents to gauge their vision of entrepreneurship by women.
The Bold by Veuve Clicquot barometer paints a unique multicultural and intergenerational picture. By creating this study, Veuve Clicquot seeks to encourage and inspire women entrepreneurs and help them break the glass ceiling.
“In surveying 25 countries, we realized that not everyone is equal in terms of entrepreneurship, and that we must learn from each other. At Veuve Clicquot, we are convinced that this international vision will produce concrete tools and best practices. Together, we need to find inspiration and listen to one another to drive change,” said Jean-Marc Gallot, President and CEO of Veuve Clicquot.
Key findings of the 2023 survey
- “Where are the women?”
There are still more male than female entrepreneurs. At the same time, numerous women want to become entrepreneurs, especially in the under 30 age bracket. In Nigeria, for example, 91% of women under 30 view becoming an entrepreneur as an attractive career goal.
- “If I were a man…”
Across the world, the majority of women think that women entrepreneurs must act like men to succeed. Women are also convinced that they receive greater criticism than men and that there is a lack of female role models to encourage them to “go for it”. In France, 93% of women avid to become entrepreneurs find inspiration in women entrepreneurs, but only 18% can name a local role model. In South Africa, however, among the 97% of the women who want to be entrepreneurs, 72% can name a local source of entrepreneurial inspiration, an example that other countries can follow.
- “Money, money, money”. We never speak (too much) about money.
The 2023 survey reached the same conclusions as the 2021 edition, namely that raising money is still an impediment to women’s entrepreneurial ambitions. In Japan, 55% of women believe that financing is more likely to be accorded to men rather than women entrepreneurs. And in the United Kingdom, 69% of the women interviewed say that financing, investment and fund raising are and will be more difficult to obtain for women in 2023.
- “Did you say lack of ambition?!” (fear of failure)
Women are keenly aware of the risks involved in entrepreneurial ventures, and this in no way lessens their motivation. Quite to the contrary, in fact. Nevertheless, as the barometer shows, they must be given sufficient resources. Only 24% of the women entrepreneurs in France say they are less likely to take risks professionally because they have already experienced failure.
Lastly, the Veuve Clicquot Bold Barometer emphasizes that the main reason women around the world – 48% in France – want to become entrepreneurs is “to be my own boss”. Veuve Clicquot concludes its study with a call for collective action: “If women want to become their own bosses and change the world, let’s help them! Let’s support them and build this new world, a world that is gender equal for a healthier economy, politics and society as a whole.”
The complete study is available online at Veuve Clicquot.