DUBLIN, Ireland - According to a new study carried out by Mastercard, just one of five of Ireland's entrepreneurs are women.
According to the study, women entrepreneurs make up just 20.1 percent of all of Ireland’s entrepreneurs.
It further found that only 10 percent of Irish women are motivated enough to start and run a business in the next three years.
The findings of the study showed that while Ireland has all the right conditions for businesses owned and led by women to thrive, the country has a problem with motivation and self-belief.
According to Mastercard, a lack of self-belief can be especially potent in deterring women from starting their own businesses.
Mastercard’s Index of Women Entrepreneurs noted that Ireland scores highly for having the right conditions for businesses to thrive, being ranked tenth overall, yet, the number of women-owned businesses is low.
In the index, Ireland was ranked tenth and achieved a score of 63.7.
The country rose two places in ranking since last year, but is still behind the U.K., which scored 67.9.
New Zealand, achieving a score of 74.2 led the rankings, and was followed by Sweden at 71.3, Canada at 70.9, the U.S. at 70.8 and Singapore at 69.2.
The company said that its index tracked the progress and achievement of women entrepreneurs and business owners across 57 markets spanning five geographic regions including Asia Pacific, Europe, Latin America, the Middle East and Africa, and North America.
Martina Hund-Mejean, CFO, Mastercard said in the report, “Women entrepreneurs have made remarkable strides as business owners around the world; however, we cannot ignore the deeply entrenched gender bias continuing to hamper their progress.”
Hund-Mejean added, “The index serves as an informative mouthpiece to inspire changes at the economic, political and social levels, and empower women to run successful businesses and lead richer, more fulfilling lives.”