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STUDY: Women’s Entrepreneurial Activity Up 10 Percent, Closing the Gender Gap by 5 Percent Since 2014
Published
9 years agoon
WELLESLEY, Mass., (FNN NEWS) — Over the past year, 163 million women were starting businesses across 74 economies worldwide—this according to the Global Entrepreneurship Monitor (GEM) 2016/17 Women’s Report released today with sponsors Babson College, Smith College, Korea Entrepreneurship Foundation, Tecnológico de Monterrey, Universidad Del Desarrollo, and Universiti Tun Abdul Razak.
“This not only shows the magnitude of impact women entrepreneurs have across the globe, but highlights the contribution they make toward the growth and well-being of their societies,” said Babson College Professor and report co-author Donna Kelley. “Women entrepreneurs provide incomes for their families, employment for those in their communities, and products and services that bring new value to the world around them.”
Among the 63 economies surveyed in both this and the last report, GEM found that Total Entrepreneurial Activity (TEA) among women increased by 10 percent, and the gender gap (ratio of women to men participating in entrepreneurship) narrowed by 5 percent.
These same economies show an 8 percent increase in women’s ownership of established businesses, and a near 10 percent increase in women’s opportunity perceptions across Europe, North America, and Asia.
The 2016/17 GEM Women’s Report also adds a new consideration—that of women as entrepreneurial investors. While participation rates vary, the participation of women as investors suggests a strong resource foundation from which business owners may build.
GEM economies in the 2016/17 survey cover 69 percent of the world’s population and 85 percent of the world’s GDP. In its 18th consecutive year, GEM continues to serve as the largest and most comprehensive single study of entrepreneurship in the world.
According to the Global Entrepreneurship Monitor (GEM) 2016/17 Women’s Report:
Entrepreneurial intentions increased among women by 16 percent from 2014 to 2016 across all economies that participated in both this report and the previous one.
Although intentions increased globally, self-perceptions around opportunity and capability vary significantly between development levels.
- 57 percent of women in factor-driven economies believe there are good opportunities around them for starting a business, while only 39 percent of women in innovation-driven economies hold these same beliefs.
- 67 percent of women in the factor-driven group believe they have the capabilities to start a new venture. Under 35 percent of women in the innovation-driven group feel the same.
- On average, women exhibit a 20 percent or greater likelihood of citing necessity as a motive for starting a new business when compared to men. However, opportunity still accounts for the majority of entrepreneurial motives.
- In the innovation-driven group of economies, women are over three and a half times as likely to cite opportunity versus necessity motives.
Interestingly, GEM found that women entrepreneurs have a 5 percent greater likelihood of innovativeness compared to men. The highest level of innovation occurs in North America, where 38 percent of women report having innovative products and services.
Women in sub-Saharan Africa and Latin America are more likely than men to state they had exited a business in the past year, and around 56 percent cite either unprofitability or lack of finance as a reason. Discontinuance levels among women are lower than men in Asia, Europe, the Middle East, and North America—this is consistent with lower startup levels compared to men in these regions.
Ten percent of all women entrepreneurs operate their businesses solely and have no intentions to add any employees in the next five years. Europe has the highest frequency of one-person female business activity, while North America has the lowest.
Sub-Saharan Africa maintains the highest regional average TEA rate and strong average growth expectations, which translates into a lot of employment by women entrepreneurs in this region.
The MENA region reports the highest average female growth expectations at 37 percent. Over half of the women entrepreneurs in UAE, Qatar, and Tunisia expect to hire six or more employees in the next five years. Moreover, women in Saudi Arabia and Morocco are more likely than men to have these ambitions.
North America shows the highest education rates among women entrepreneurs, with 84 percent having earned a post-secondary or higher education. Europe is notable for having more highly educated women than men entrepreneurs: 22 percent more, on average.
“Although the gender gap in education and labor force participation decreases at higher stages of economic development, we find that the entrepreneurial gender gap not only persists but increases,” says Smith Economics Professor and report co-author, Mahnaz Mahdavi. “By providing entrepreneurial education, colleges and universities can improve women’s competencies and increase their rate of business startup to more closely match that of men.”
Women participate in entrepreneurship at equal or higher levels than men in Indonesia, Philippines, Vietnam, Mexico, and Brazil.
SOURCE | Babson College
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Business
Addition Financial, Rosen Preschools Partner to Expand Financial Literacy for Central Florida Children
Published
2 weeks agoon
September 22, 2026Now in its fourth year, ADDing FUNdamentals introduces children as young as 4 to saving, needs versus wants and other basic money concepts through classroom activities and take-home resources.
ORLANDO, Fla. (FNN) — Addition Financial Credit Union is expanding its ADDing FUNdamentals community impact program through a new partnership with Rosen Preschools, bringing financial literacy education to children as young as 4 while providing resources designed to extend those lessons into their homes.
Now in its fourth year, ADDing FUNdamentals introduces preschool-aged children to basic money-management concepts through interactive, age-appropriate learning experiences.
Developed through a partnership with Junior Achievement of Central Florida and the Early Learning Coalition of Orange County, the program uses Junior Achievement’s JA Ourselves curriculum to teach children foundational concepts including making choices, distinguishing needs from wants and saving money.
Rosen Preschools is participating in the program for the first time, expanding the initiative’s reach to more children and families in Central Florida.
Addition Financial Credit Union, Rosen Preschools and community partners celebrate the expansion of the ADDing FUNdamentals financial literacy program, which introduces preschool-aged children to basic money-management concepts through hands-on learning and imaginative play.
Financial Lessons Extend Beyond the Classroom
As part of the initiative, volunteers from Addition Financial, Junior Achievement and Rosen Hotels & Resorts assembled backpacks filled with educational resources designed to help children follow along with classroom lessons and continue learning at home with their families.
A portion of the backpacks will be distributed to Rosen Tangelo Park Preschool and Rosen Preschool in Parramore.
Addition Financial is also providing playhouses modeled after miniature credit unions, giving students an opportunity to practice basic money-management concepts through imaginative play.
The combination of classroom instruction, hands-on activities and take-home materials is designed to reinforce financial concepts while encouraging families to continue conversations about money outside the classroom.
Rosen CEO: Financial Literacy Is a Critical Life Skill
Frank Santos, president and CEO of Rosen Hotels & Resorts, said his professional background in finance has made financial literacy an issue he strongly supports.
“We are very proud to partner with Addition Financial to bring the ADDing FUNdamentals program to the Rosen Preschools,” Santos said. “Having spent a majority of my career in finance, I am a big advocate for financial literacy.”
Santos called financial literacy a critical life skill and said introducing foundational lessons early, while also sending educational materials home to families, can help prepare children for long-term success.
Addition Financial Focuses on Starting Financial Education Early
Kevin Dougherty, chief operations officer at Addition Financial Credit Union, said the partnership with Rosen expands the program’s ability to introduce financial concepts during children’s formative years.
“We are incredibly grateful to have an organization of Rosen’s caliber become a part of the ADDing FUNdamentals program,” Dougherty said. “The students at Rosen Preschools will now get a jump start on developing key skills many of us take for granted — understanding and managing money.”
Dougherty said the response to the program since its launch demonstrates interest in providing financial education at an early age.
“The positive response and success we’ve seen since launching the program speaks to the need of fostering financial education at an early age,” Dougherty said.

Building Financial Skills Through Community Partnerships
The collaboration brings together a credit union, hospitality organization and education-focused community partners around a shared effort to introduce financial concepts to children early in life.
Rather than limiting the experience to classroom instruction, ADDing FUNdamentals combines curriculum, interactive play and educational materials that children can take home and share with their families.
The addition of Rosen Preschools in the program’s fourth year further expands its presence in Central Florida and brings the financial literacy initiative into the Tangelo Park and Parramore communities.
Through lessons on saving, choices and needs versus wants, participating children receive an early introduction to concepts they will encounter throughout their lives.
Central Florida News
Mario Andretti Headlines First 15 Drivers Named to Sebring’s Historic ‘Class of 75’
Published
3 weeks agoon
September 15, 2026By
FNN SPORTSSebring International Raceway begins honoring 75 of the event’s most successful drivers ahead of the historic 75th running of the Mobil 1 Twelve Hours of Sebring on March 20, 2027
SEBRING, Fla. (FNN SPORTS) — Racing legend Mario Andretti headlines the first group of drivers selected for Sebring International Raceway’s “Class of 75,” recognizing 75 of the most successful drivers in the history of the Mobil 1 Twelve Hours of Sebring.
The recognition comes ahead of the 75th running of the Mobil 1 Twelve Hours of Sebring on March 20, 2027.
A 10-person panel of sports car racing experts debated and voted on the 75 drivers. The selections have been divided into five groups of 15, with additional names scheduled to be announced monthly through January.
The first Twelve Hours of Sebring was held March 15, 1952. Since then, the endurance race has been canceled only once, in 1974 amid the global energy crisis.
First 15 Drivers Named to ‘Class of 75’
The inaugural group includes Bob Akin, Mario Andretti, Joao Barbosa, Geoff Brabham, Derek Daly, Phil Hill, Bruce Jennings, Sascha Maassen, John Morton, Jim Pace, Hans Stuck, Nick Tandy, Richard Thompson, Fermin Velez and Andy Wallace.
Together, the drivers represent generations of Sebring history, from the race’s formative years to the modern IMSA era.
Andretti’s Place in Sebring History
Andretti made six starts at Sebring, earning three overall victories and one additional class win.
His overall victories came in 1967, 1970 and 1972. His 1970 triumph remains one of the race’s most celebrated finishes.
Andretti started that race from the pole in Ferrari’s No. 19 entry but retired the car with gearbox problems. Ferrari later moved him into the No. 21 Ferrari 512S for the closing stages.
Andretti ultimately defeated Peter Revson by 23.8 seconds, which at the time represented the closest finish in Sebring history.
Champions Across Generations
The Class of 75 also includes Phil Hill, a three-time overall Sebring winner who competed 13 times between 1953 and 1966. Hill won overall in 1958, 1959 and 1961 and added three class victories.
Hans Stuck also earned three overall victories, beginning with BMW’s landmark 1975 win. He returned to Victory Lane with Porsche in 1986 and 1988 and added two class victories during his Sebring career.
Geoff Brabham won overall in 1989 and 1991 during Nissan’s GTP era, while Derek Daly recorded two victories in three Sebring starts.
Fermin Velez captured consecutive overall victories in 1995 and 1996 driving a Ferrari 333SP, while Andy Wallace won back-to-back overall titles in 1992 and 1993 in the Toyota Eagle Mk III.
Tandy Represents Sebring’s Modern Era
Among the modern-era selections is Nick Tandy, who has accumulated one overall victory, three class wins and five podium finishes in 12 Sebring starts.
After class victories with Porsche in 2018, 2019 and 2020, Tandy joined Porsche Penske Motorsport’s prototype program.
His long-awaited overall Sebring victory came in 2025, when he teamed with Felipe Nasr and Laurens Vanthoor in a Porsche 963. The trio defeated the sister Penske entry by just 2.2 seconds.
Privateers and Sebring Mainstays Recognized
The selections extend beyond overall winners.
Bruce Jennings made 18 Sebring appearances and became one of the event’s notable privateer competitors. His 1962 debut produced a class victory and third-place overall finish.
Richard Thompson, known as the “Flying Dentist,” competed in the inaugural 1952 race. Thompson reportedly drove his MG-TD from Washington to Sebring, finished eighth and then drove the car home. He ultimately made 14 Sebring starts and earned two class victories.
Sascha Maassen recorded five Sebring victories, including four consecutive class wins from 2001 through 2004 with Alex Job Racing.
The group also recognizes the achievements of Bob Akin, Joao Barbosa, John Morton and Jim Pace, each of whom earned overall Sebring victories during their careers.
Four More Groups Coming
Sebring will unveil the remaining 60 members of its Class of 75 in four installments.
The next 15 drivers will be announced Oct. 13, followed by additional groups on Nov. 10, Dec. 15 and Jan. 12.
The complete list will ultimately recognize 75 drivers representing the history of America’s oldest major endurance race.
75th Twelve Hours of Sebring Tickets
Tickets, hospitality packages, car corral parking and reserved RV locations are currently in a renewal period through Sept. 16.
General admission tickets and parking passes are scheduled to go on sale Oct. 1. Highlands County resident tickets will also become available Oct. 1 with proof of residency and must be purchased in person at the raceway ticket office.
Fans can find ticket information and join waiting lists for hospitality, car corrals and trackside RV parking through Sebring International Raceway.
The 75th Mobil 1 Twelve Hours of Sebring is scheduled for March 20, 2027.
Business
Addition Financial Foundation Awards $175,000 to 10 Central Florida Nonprofits
Published
4 weeks agoon
September 10, 2026Fifth annual Community Giving Celebration recognizes organizations serving families, students and communities across the region
ORLANDO, Fla. (FNN) — The Addition Financial Foundation honored 10 Central Florida nonprofit organizations Wednesday during its fifth annual Community Giving Celebration, awarding $175,000 in unrestricted grants and providing recipients with year-round organizational support.
The breakfast and awards ceremony was held at Addition Financial Arena on the University of Central Florida campus, bringing together representatives from the nonprofit, government, education and business communities.
Established in 2021, the foundation is the philanthropic arm of Lake Mary-based Addition Financial Credit Union. Each organization selected for the 2026 Community Giving Class was nominated by an Addition Financial team member based on its work in communities served by the credit union.
10 NONPROFITS RECEIVE COMMUNITY GIVING GRANTS
Three organizations — Central Florida Community Arts, Children’s Safety Village and Embrace Health — each received $20,000 grants. Seven additional nonprofits received $15,000 each: Empowered Girls Inc., First Tee Central Florida, Foundation for Foster Children, Gentian Creek Preserve, Prospera, Save a Life Pet Rescue and Tech Sassy Girlz.
The grants are unrestricted, allowing the organizations to direct the funding toward areas they determine will have the greatest impact.
“The Community Giving Celebration gives us an opportunity to shine a light on nonprofit organizations that are addressing important needs and creating meaningful change across our community,” said Cristina Lehman, executive director of the Addition Financial Foundation.
Lehman said the foundation’s involvement extends beyond the grants, including connecting organizations with volunteers, resources and opportunities throughout the year.
ADDITIONAL $5,000 AWARDS PRESENTED
Two additional $5,000 awards were presented during the celebration.
The Greatest Investment Girls Empowerment Program, a previous Community Giving Class participant, received one award. Save a Life Pet Rescue received another following a vote by Addition Financial team members who contribute to the foundation.
In addition to financial support, the 2026 class will receive volunteer assistance from Addition Financial employees, complimentary use of the organization’s community room and workshops on topics including media relations, fundraising and grant writing.
YEAR-ROUND COMMUNITY INVESTMENT
The Community Giving program is designed to build relationships between Addition Financial and nonprofit organizations beyond a single grant cycle.
This year’s recipients work across a range of areas, including arts and culture, child safety, health, youth development, education, foster care, environmental conservation, entrepreneurship, animal rescue and technology education.
Through unrestricted grants and continuing support, the foundation said the program is intended to help nonprofits strengthen their operations while expanding their impact throughout Central Florida.
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