By Luiz D'Elboux – Country Manager Brazil – GoDaddy
Sao Paulo, November 2024- Companies created and led by women 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. The GoDaddy Global Entrepreneurship Survey 2024 showed that 56% of the Brazilians surveyed identified as women entrepreneurs.
With this in mind, theWomen's Entrepreneurship Day, celebrated on November 19, provides an opportunity to recognize the impact of women in 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 out of ten (29%) of the women entrepreneurs surveyed are under 30 years old, compared to only 21% of men. Furthermore, more than half (56%) of entrepreneurial women in Brazil said they did not complete university, dispelling a commonly perceived requirement for starting a business.
This data highlights that women entrepreneurs from diverse backgrounds and at different stages of life are more empowered than ever to take their business idea online due to available digital technologies.
In Brazil, they also show more optimism. In the next three to five years, 46% of women surveyed said they expect their businesses to grow rapidly (defined as at least 50% growth), compared to 33% of male entrepreneurs in Brazil who foresee the same growth.
With a new year fast approaching, the optimism of these interviewees encourages aspiring entrepreneurs in Brazil and around the world to consider taking the leap to becoming business owners.
AI technologies can help level the playing field, but more support is needed
Artificial intelligence (AI) has the potential to play a pivotal role in supporting women entrepreneurs, helping to level the playing field and making it easier for them to start their own business.
Not only are Brazilian women more embracing of AI technologies, they are also more confident in their ability to navigate and leverage them in their businesses (92% of women vs. 90% of men), demonstrating a confidence and resilience that is useful for thriving against larger, more resourceful companies ahead of the all-important holiday shopping season.
However, while AI can provide support in a variety of business-critical tasks, guidance and advice is another important topic for female entrepreneurs in Brazil.
More than three in five (63%) Brazilian women have shared that they sought guidance or mentorship in their entrepreneurial journey so far, compared to men (48%).This desire for guidance from entrepreneurial women highlights an opportunity for leaders, policymakers, and other organizations to engage in promoting business growth for those interested in starting their own ventures.
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 their annual revenue from online sales channels, women-owned companies 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 on online sales channels of companies of all sizes. Additionally, platforms like Instagram and TikTok have launched integrated shopping features, allowing businesses to sell across a variety of channels within their digital presence to help engage more customers and grow their business.
Brazilian entrepreneurial women are proactively acting in this area to leverage AI resources and, in turn, are recognizing their benefits to continue thriving. When asked which areas of their businesses they believe would benefit most from AI, marketing was the most common response among 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 not only to establish an online business but also to feel optimistic about their entrepreneurial journey and to thrive by competing with larger, more resourceful companies. GoDaddy continues to support this new wave of women entrepreneurs and small business owners with its range of readily available products and resources.
