About Strive Women entrepreneurs
Women-led micro and small enterprises are critical contributors to economies, communities, and households worldwide. But for these entrepreneurs to thrive, it takes more than access to finance.
Strive Women, a four-year program led by CARE and supported by the Mastercard Center for Inclusive Growth, focuses on growth-oriented entrepreneurs who have been in business for at least two years and have at least one employee. While there is variation among participants, the typical entrepreneur is a married woman in her late 30s to early 40s with a secondary school education. Her business is most often urban-based, unregistered, and operates in the retail sector. This report summary presents insights from the baseline evaluation of Strive Women program participants.
What is financial health, and why measure it?
To better support women entrepreneurs, programs need to start by truly understanding the challenges they face in running and growing their businesses – and how those challenges impact their financial health.
In many developing countries, women business owners encounter unique barriers – including limited access to finance, greater vulnerability to financial shocks, and restrictive social norms – while also juggling household responsibilities alongside their businesses.
To accurately assess the state of their businesses and overall wellbeing, it’s essential to look beyond profits and take a more holistic view of their financial health – one that considers their financial, personal, and business lives together.
Key findings
- Women entrepreneurs need stronger safety nets to withstand shocks.
- Entrepreneurs have a strong foundation in business and financial management, but these practices can be strengthened to promote growth.
- Entrepreneurs are confident in their own abilities, but less sure about accessing external resources.
- Achievement often comes with stress and mental health strain, but family and community support can help.