Empowering Women Entrepreneurs: A New Era of Optimism

The Women Entrepreneurship Optimism Index (WEOI), launched by Standard Chartered Bank and Dun & Bradstreet, highlights growing confidence among women entrepreneurs. The index shows an increase in optimism for Q4 2024, driven by digital adoption, skill development, and favorable market conditions, but continues to highlight financial access challenges.

The inaugural Women Entrepreneurship Optimism Index (WEOI) released by Standard Chartered Bank and Dun & Bradstreet reflects an upswing in optimism among women entrepreneurs for Q4 2024. The index climbed to 68.93, up by 97 basis points, showcasing heightened positivity in the business outlook of women-led enterprises.

Key findings from the survey of over 200 women entrepreneurs reveal that the flourishing confidence stems from expected increases in domestic orders and a notable push towards digital transformation. In Tier 1 cities, optimism is notably higher regarding digital adoption and skill enhancement compared to those in Tier 2 cities.

While enthusiasm is on the rise, women-led businesses continue to face hurdles, particularly in accessing finance. The report emphasizes the need for policy and resource support to bolster growth, as 71% of respondents express challenges in obtaining financial resources, underlining a crucial area for improvement.

(With inputs from agencies.)