Mexico City: The new capital of female entrepreneurship

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The capital of the country was the city to have more progress in attracting and supporting women entrepreneurs from 2017 to 2019, according to a study by Dell Technologies.

There are more women in boards of directors, an increase among those with an MBA, and greater presence in the technology sector. These are some of the factors that have led Mexico City to advance among global cities to attract and support women entrepreneurs. According to the study Dell Women Entrepreneur Cities 2019, which is developed by Dell Technologies, the capital of the country is in the 29th position of 50. Although it is not among the top positions, it has become the city that has advanced the most in the table since 2017, thanks to the fact that he climbed 16 positions.

“Mexico City is among the 10 most advanced cities in support of women's empowerment (…) These results provide a favorable panorama for our market, we are climbing not only in the ranking, but it positions us worldwide as a of the main cities that believe in the potential of women,” said Paulina López Noriega, leader of diversity and inclusion for Latin America at Dell Technologies during the presentation of the study.

The spokeswoman said that this city has made significant progress in local policies, improvements in higher education and even in terms of greater pay equity and less discrimination in the workplace.

In terms of the market, the CDMX had a 27% increase in the number of women who belong to boards of directors and is in the fifth place when talking about the cost of starting a business.

In terms of talent, there was a 47% increase in the number of women working in the information technology sector, an 11% increase in the number of women who have an MBA and a 38% increase in terms How many women have higher education.

CDMX climbed 16 positions and was the second best city in progress from 2017 to 2019. Guadalajara is another of the cities analyzed by Dell, which was ranked 46th in the ranking.

This study has been carried out with the IHS Market consultancy since 2010 and evaluates each city in five categories: equal access to financing and capital, business management through emerging technologies, size and market operation, ease of finding the right and experienced talent and finally, the culture, laws and custom of each city. The rating has 71 indicators, of which 45 have a gender-based component.

On capital, there was a 48% increase in investment companies that have at least one woman.

Speaking of technology, Mexico City is in position 10 in terms of access to it.

In culture, the inclusion of more women in the government after the 2018 elections and the improvements in the reduction of gender discrimination in hiring, as well as the equity of remuneration drove the city to climb the ranking.

According to the 2018/19 World Labor Organization (ILO) Global Report on Wages, the wage gap in Mexico ranges from 16.7% to 20.2%, placing it below that existing in Argentina, Uruguay, Chile, Peru and Brazil .

For its part, the Global Entrepreneurship Monitor (GEM) indicates that for every 10 enterprises developed by men in Mexico there were 6 developed by women, according to the latest data available in 2017.

In addition, Mexico City improved in 43 indicators, with the highest progress in the ranking, followed by the Bay Area in San Francisco, Houston and London, which improved in 42 indicators.

San Francisco, New York, London, Boston, Los Angeles, Washington D.C, Seattle, Paris, Toronto and Stockholm are ranked as the 10 cities with the best conditions for women entrepreneurs according to the study.

The spokeswoman for Dell said that although progress has been made there is still a challenge because “women business owners continue to struggle to access capital, to create networks that help them advance their business and take them to the next level.”

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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