Gugu Mjadu, spokesperson for of the 2015 Sanlam / Business Partners Entrepreneur of the Year® competition says that this year’s global International Women’s Day theme, ‘Make It Happen’, is very fitting for the role that South African female entrepreneurs play in the local economy. She says that the entrepreneurial competition has witnessed a definite increase in the number of female entrants, as well as in quality and entrepreneurial talent over the past few years. “The female winners who have taken their future into their own hands, and have successfully carved out a niche for themselves in their industries, and made a significant impact on their local communities.”
Now in its 27th year, the history of the Sanlam / Business Partners Entrepreneur of the Year® competition showcases the rise of female entrepreneurs in the country. Since 1988, the competition has produced 51 winners across various categories, of which over 30% (16) were female winners.
Mjadu adds that it is interesting to notice the shift in sectors that South African female entrepreneurs are now operating in. “We are increasingly seeing a shift from ‘traditional’ markets, such as hospitality and retail, to female entrants operating within the medical and transport industry, sectors which may have been traditionally male dominated in the past.”
Mjadu points to some example of the past female winners that followed their dreams to start a business and develop it into the successful operation it is today.
The 2014 Gender Global Entrepreneurship and Development Index (GEDI) reported that the African region is characterised by a high level of female entrepreneurial drive, with an average of 69% of the female population identifying opportunities to start a business. Mjadu says that while the rising number of female winners in the competition is encouraging, much more needs to be done to promote female entrepreneurship in the country. She points to the 2014 Global Entrepreneurship Monitor, which revealed that Total female early-stage Entrepreneurial Activity (TEA) in South Africa – those in the process of starting a venture and or have been running a new business for less than 3.5 years – is only 6.29% of the total local female population, down from 9% the previous year (2013).
Mjadu says that it is imperative that the country continues to promote and recognise female entrepreneurial leaders in South Africa and profile them as role model. “South Africa is home to many successful female entrepreneurs, and in order to continue encouraging entrepreneurship, it is vital for the country to regularly recognise, celebrate and reward the women making a difference,” concludes Mjadu.