Making Financial Success Accessible To Women

  • Save

According to tech publication IT-Online, the latest OfferZen 2023 State of the South Africa Software Developer Nation report found that the gender pay gap in local tech continues to widen: Among entry-level developers, the gender pay gap has increased to 13,2%, up from 6,4% in 2022. At senior levels, the gap has widened from 16,3% to 25,7%.

As we continue to celebrate Women’s Month, we must ask ourselves why this disparity continues and what every business – small and large – can do to deal with the issue, given its impact on entire economies.

A quick online search brings an astounding fact: “We posed a question to Google and ChatGPT: ‘In what business sector do women earn the same as their male counterparts?’ “and the answer should shock everyone:”

‘As of September 2021, there were no business sectors where women consistently earned the same as their male counterparts across all positions. The gender pay gap, which is the difference in average earnings between men and women, existed in most industries and occupations worldwide.’

Women are underrepresented in senior and executive roles, which typically come with higher salaries and bonuses. The dearth of women in leadership positions contributes to the overall pay gap. Several factors still hamper women’s progress in business, but they are not insurmountable.“A key area for growth and business success for women in particular is the entrepreneurial sector, where women are finding their feet and their strength as SMME leaders.

The Mastercard Index of Women Entrepreneurs

The most recent Mastercard Index of Women Entrepreneurs from March 2022 showed that although women’s entrepreneurial activity rate dropped in most economies during the pandemic, South Africa is one of only 12 economies where women’s entrepreneurial activity rates increased, with 11.1% of working-age women engaged in early-stage entrepreneurial activities (up from 10.2% in 2020), compared to 11.7% for men (up from 11.4% in 2020).

Women entrepreneurs are playing a vital and growing role in the South African economy and, as with their male counterparts and the tenacity and innovation it takes to start businesses, and the value each new business brings to our economy in the form of financial inclusivity and – importantly – job creation.

By offering entrepreneurs and start-ups the opportunity to access capital online with ease and minimal requirements. We understand what it takes for all entrepreneurs to make it big, and there is nothing that drives us harder than seeing women taking opportunities to succeed.

Opportunities have no idea whether you’re male or female. It’s the human being who sees value and grabs it with both hands that change lives. For more information, visit the ProfitShare Partners Website or follow ProfitShare Partners on Instagram, LinkedIn, Twitter, and Facebook