Women in the Western Cape are dominating the SME industry. According to the article, “women-owned businesses experienced 50 percent more growth than businesses owned by men in the Western Cape.” This boost can be contributed to women making smarter investment decisions, according to a survey conducted by Retail Capital. Key points revealed in the survey regarding women entrepreneurs were:
- 70 percent increase in turnover in women-owned businesses in the Western Cape versus an 18 percent increase in businesses owned by men in the first five months after taking funding.
- Women saw a 27 percent credit turnover compared to just 8 percent achieved by businesses run by men.
- Women were seen to be 60 percent less likely to default on payments than men.
Chief Brand Officer for Retail Capital, Erin Louw noted, “In the Western Cape, we are seeing more and more women taking funding to grow their businesses and they are seeing significant returns. This, in turn, shows more women that they can succeed in business with the right tools and support.”