Why SA's women-owned businesses struggle to survive

Just 4.1% of South African women aged between 18 and 64 run established businesses, compared with 7.9% of men.

South African women are starting businesses at close to the same rate as men, but far fewer are still running established businesses three-and-a-half years later, highlighting a gap between entrepreneurship and the ability to survive and grow.

Just 4.1% of South African women aged between 18 and 64 run established businesses, compared with 7.9% of men, according to the Global Entrepreneurship Monitor South Africa.

The disparity comes despite Africa having the highest rate of female entrepreneurship worldwide, according to AXIAN Group, which says women entrepreneurs on the continent still face an estimated $49 billion financing gap.

Small and medium-sized enterprises are widely recognised as the heart of South Africa's economy. According to industry estimates, SMEs contribute more than 60% of employment and around a third of gross domestic product (GDP), making their success critical to economic growth and job creation.