Who run the world? Female entrepreneurs in Singapore more successful than global peers, says HSBC

Over 3 out of 10 entrepreneurs here are women.

Women in Singapore and Asia are more aggressive in creating and running businesses compared to their peers in the West, according to HSBC.

In Singapore, a sizeable 36% of entrepreneurs surveyed were female, with 40% of them still under the age of 35. Comparatively, 40% surveyed in Asia were female, with the proportion falling to 31% in the West.

There is also a greater proportion of women who are higher up on the wealth scale in Singapore and Asia than in the West. 

According to the research, 50% of the Singapore entrepreneurs surveyed with a net worth of over US$15 million were female. This was mirrored by a 51% finding for Asia, compared to just 33% in the West. 

“Today, Asian women in general have become more empowered and independent due to supportive government policies, industry support and collaboration networks, and also receive greater recognition for their successes. They now play a vital role in forming the backbone of economic activity and their contribution is expected to increase in the coming years,” Sandeep Sharma, Co-Head for Southeast Asia at HSBC Private Bank.