By Luiz D’Elboux & Country Manager Brazil & GoDaddy
Sao Paulo, November 2024 ''Women-led and created businesses contribute to local economies, create new jobs and support families, making it essential to support women in digital entrepreneurship and work to ensure that opportunities are inclusive for all. GoDaddy's 2024 Global Entrepreneurship Survey showed that 56% of surveyed Brazilians ranked as women entrepreneurs.
With that in mind, the Women's Entrepreneurship Day19 November offers an opportunity to recognize the impact of women on entrepreneurship, assess the current landscape they face, and share insights into the ways in which they continue to thrive.
Women can start an online business with a digital device at any time
A new era of opportunities and accessibility for women entrepreneurs is underway. Women entrepreneurs in Brazil are more likely to be younger than men; nearly three in 10 (29%) of women entrepreneurs surveyed are under 30, compared to only 21% of men.In addition, more than half (56%) of women entrepreneurs in Brazil said they have not completed university, belying a commonly perceived requirement to start a business.
These data highlight that women entrepreneurs from diverse backgrounds and at different stages of life are more empowered than ever to take their business idea to the online world due to the digital technologies available.
In Brazil, they also show more optimism.In the next three to five years, 46% of the women surveyed said they expect their business to grow rapidly (defined as a growth of at least 50%), more than the 33% of male entrepreneurs in Brazil who predict the same growth.
With the rapid approach of a new year, the optimism of these interviewees encourages aspiring entrepreneurs in Brazil and around the world to consider taking the leap to become owners of a company.
AI technologies can help level the playing field, but more support is needed
Artificial intelligence (AI) has the potential to play a key role in supporting women entrepreneurs, helping level the playing field by facilitating the start of their own venture.
Not only do Brazilian women embrace AI technologies more, but they also show more confidence in their ability to navigate and leverage them in their business (92% for women vs. 90% for men), demonstrating a confidence and resilience that are useful for thriving against larger, more resourced companies ahead of the important holiday shopping season.
However, while AI can provide support on a variety of business-critical tasks, mentoring and counseling is another important topic for female entrepreneurs in Brazil.
More than three in five (63%) of Brazilian women shared that they have sought guidance or mentoring in their entrepreneurial journey to date, more than men (48%). This desire for guidance from women entrepreneurs highlights an opportunity for leaders, policymakers and other organizations to engage in promoting business growth for those interested in starting their own venture.
Women-owned businesses are leveraging AI to maximize online sales channels
Another interesting finding from GoDaddy's research was the importance of online sales channels for women-owned businesses.Among companies that generate at least 26% of annual revenue from online sales channels, women-owned businesses rely more on these platforms to help reach customers and sell products and services to them than men.
In today's digital environment, customers expect to find dynamic multimedia marketing in online sales channels of businesses of all sizes. Additionally, platforms such as Instagram and TikTok have launched integrated shopping capabilities, allowing businesses to sell on a variety of channels within their digital presence to help engage with more customers and grow their business.
Brazilian women entrepreneurs are proactively acting on this front to harness AI capabilities, and in turn are realizing its benefits to continue thriving.When asked which areas of their business they think would benefit most from AI, marketing was the most common response from Brazilian women by a significant margin: 81%.
In conclusion, advances in digital technologies are empowering women entrepreneurs from diverse backgrounds and at different stages of life to not only put a business online, but to feel optimistic about their entrepreneurial journey and thrive by competing with larger, more resourced companies.Godaddy continues to support this new wave of women entrepreneurs and small business owners with its range of products and resources readily available.
