Reimagining Entrepreneurship: A Systems Approach to Women’s Economic Inclusion

The report "EWP-814: Female Entrepreneurship Systems", produced jointly by the World Bank, the International Development Research Centre (IDRC), and the Global Entrepreneurship Research Association (GERA), reframes the global understanding of women's entrepreneurship. It moves beyond the conventional notion that women entrepreneurs simply need more training or financial aid, instead highlighting how institutions, policies, social norms, and markets collectively shape their opportunities. The study argues that while many programs aim to "empower" women, most fail to address the underlying structures that exclude them from high-growth sectors. True empowerment, it insists, comes not from fixing women but from fixing the systems that determine access, visibility, and value in the entrepreneurial landscape.

Finance and Policy: The Structural Foundation

The report reveals how systemic biases in finance and policy create formidable barriers for women entrepreneurs. Women-led businesses receive only a tiny fraction of global venture capital funding, reflecting deep-rooted perceptions that male-led ventures are more profitable or innovative. Financial institutions often demand collateral or credit histories that women, particularly in developing economies, are less likely to possess. To correct this, the study calls for gender-lens investing and inclusive credit programs that recognize women's potential as wealth creators. It also critiques gender-blind policies that fail to consider barriers such as limited property rights, inheritance restrictions, and bureaucratic red tape. Examples from Rwanda and Nordic countries show how targeted legal reforms, like joint property titling and gender quotas in business associations, can dramatically increase women's access to finance and formal markets.

Cultural Barriers and the Invisible Walls

Beyond the numbers, the report dives into the cultural and social expectations that shape women's entrepreneurial journeys. Deeply embedded gender norms around family duties, risk-taking, and leadership continue to restrict women's ambitions and define what kinds of businesses they are "allowed" to run. These cultural constraints act as invisible walls that no policy can overcome without broader societal change. The report advocates for media visibility campaigns, gender-inclusive leadership training, and community mentorship models that normalize women's participation in business leadership. Changing mindsets, it argues, is as important as changing laws. Societies must redefine success and innovation in ways that value women's contributions equally and encourage them to take leadership roles in sectors traditionally dominated by men.

Education, Networks, and the Power of Connection

Education and networks emerge as powerful enablers of women's entrepreneurship. Although women's educational attainment has improved worldwide, they remain underrepresented in STEM fields and innovation-driven enterprises, which often offer the highest growth potential. The report calls for a new kind of entrepreneurial education, one that blends technical expertise with digital literacy, strategic thinking, and creative problem-solving. Networks and mentorships are equally crucial. Women often have smaller or more homogeneous professional circles, limiting access to investors, collaborators, and markets. The study recommends inclusive business incubators and mentorship programs that connect women with both local and global networks. It presents a Gender-Sensitive Entrepreneurship Ecosystem Framework, illustrating how progress in education, networking, and finance must occur simultaneously to achieve meaningful and lasting inclusion.

Global Lessons and New Models of Inclusion

Drawing from a range of global case studies, the report demonstrates how system-level reforms can transform women's entrepreneurial participation. In Rwanda, the integration of women's business associations into policymaking processes has enhanced representation and accountability. India's Self-Employed Women's Association (SEWA) offers a model that merges collective empowerment, cooperative enterprise, and labor rights advocacy. Countries like Sweden and Chile showcase how institutionalized equality policies and gender-responsive innovation systems sustain women's participation in high-value industries. In Nigeria and Kenya, women entrepreneurs are leveraging digital technologies to access markets and funding directly, bypassing traditional barriers. However, the report cautions that digital inequality remains a challenge, as women continue to face limited access to devices, connectivity, and digital skills training.

Data, Diagnostics, and the Road Ahead

One of the report's strongest contributions lies in its call for data-driven policymaking. It highlights the absence of reliable, gender-disaggregated data that could capture women's contributions to the economy and diagnose systemic weaknesses. The authors propose developing ecosystem maturity indicators to measure progress in areas such as financial inclusion, representation, and cultural perception. The report concludes with a roadmap for reform on three interconnected levels: institutional, organizational, and societal. At the institutional level, governments must eliminate discriminatory laws and embed gender assessments into entrepreneurship policies. At the organizational level, banks, accelerators, and venture firms should integrate gender-sensitive evaluation systems. At the societal level, education and media must reshape narratives around women's entrepreneurship to celebrate ambition, resilience, and innovation. The report ends with a resonant message: "Women's entrepreneurship is not a niche, it is a mirror of the economy itself." By building ecosystems that value inclusivity and equality, nations can unlock vast economic and creative potential, driving sustainable and shared prosperity.