Mexico City ranks 45 of 50 in promoting female entrepreneurship

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Shutterstock 344852273This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Mexico City, promoter of female entrepreneurship? Not so much, according to a report made by DellEMC.

This study, which analyzed cities according to their ability to attract and encourage high-impact women entrepreneurs, ranked 45th out of 50 cities in the Mexican capital.

"Yes we are low, but we also have to do with what cities we are comparing ourselves," Juan Francisco Aguilar, General Director and Vice President of DellEMC, said in an interview.

Although the ranking includes cities such as New York, which occupies the first position, there are others such as Johannesburg and Nairobi in Africa that, despite being smaller in number of inhabitants or having a lower Gross Domestic Product (GDP), occupy better positions that Mexico City.

The study was commissioned to analyze at least five parameters and how much women have access to them to define the score. These pillars were: Capital, Markets, Talents, Culture and Technology.

The country's capital obtained 31.8 out of a possible 100 points. In comparison, New York achieved a score of 62.9.

The weaknesses of the CDMX

One of the points in which Mexico City ranked lower was in the value and frequency of financing.

For example, the report points out that one of the factors to improve is the financing available for women entrepreneurs. In this regard, he pointed out that only 25% of companies run by women have accessed venture capital.

"The amount collected by women in financing sites is still very low," the report said.

On the other hand, Mexico City also scored low on the pillar of culture and talent. "For example, violence against women in the workplace, sexual abuse, harassment and lack of opportunities for promotional assistance could help explain the small number of women participating in leadership positions," said DellEMC.

According to recent figures from the National Institute of Statistics and Geography (Inegi), 35% of murders of women or 8,065 were perpetrated in the central region of the country, including the CDMX.

However, within the elements in which the Mexican city obtained a good score are policies, access, cost and size of the market.

One of the cases highlighted by the executive of DellEMC is the equal remuneration policy regardless of the gender promoted in the country or greater access to technology by women.

Other agencies and studies, including the Global Entrepreneurship Monitor (GEM), points out that Mexico as a country is one of the four in the world and the only one in the region where there are more women entrepreneurs than men. The report says that three out of every five small and medium businesses that open in Mexico are run by women.

"More than the ranking and where we are, it is really understanding what we do well and understanding the areas of opportunity to promote the development of women entrepreneurs in the country," Aguilar concluded.

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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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.