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The Gender Gap in Financing
Literature Item
Author Information:
Name: Stella Kasdagli & Pinelopi Theodorakakou (Women On Top)
Email: None
Website: https://www.linkedin.com/in/stellakasdagli/?originalSubdomain=gr
Abstract:
This study analyzes gender financing gap in Greece and worldwide, addressing it’s causes and proposing recommendations and good practices for bridging the gap – thus relating to the domain of economic power. In Greece, 62% of women start their businesses using their own funds and use lending at a much lower percentage than men. Greek start-ups with at least one woman in their founding teams have received a mere 6% of the total 6.125 billion dollars in funding that has been directed into the Greek start-up ecosystem. The perpetuation of the financing gap is mostly attributed to the low participation of women in entrepreneurship, the characteristics of female-run businesses and women as entrepreneurs, the shortage of information, the attitude of women entrepreneurs towards funding, the biases of the funding organisations, and the low numbers of female investors. These causes vary depending on the type of the business ecosystem. Increased representation of women entrepreneurs is positively associated with the collection and use of data by gender throughout all phases of interaction with beneficiary companies; structured procedures for the application process; concrete and quantifiable criteria to assess the candidates; equal representation of women in the candidate assessment process, and sensitivity of funding and other support organisations to the social (aside from the economical) impact of investments. The systematic adoption of measures and policies that confront the gender financing gap is necessary to support the recovery of female-run businesses in the post-COVID-19 era, and to build a sustainable and inclusive business ecosystem in Greece.
Keywords:
gender gap, financing gap, business financing, start-ups, funding
Dates:
Jan. 1, 2021 - None
Source Specificity:
Public Policy Document
Website:
https://womenontop.gr/wp-content/uploads/2022/07/FinancingGapSurvey_WoT_ENG.pdf
Power Domains:
Economic
Methods Tools:
Awareness-raising, Monitoring
Country:
GR
City:
Athens
Implementation Scale:
national
Language:
English
Other Links:
https://womenontop.gr/wp-content/uploads/2022/07/FinancingGapSurvey_WoT_ENG.pdf
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