The disadvantages of not having a bank account, as a mexican female entrepreneur

The disadvantages of not having a bank account, as a mexican female entrepreneur

Nearly 80% of women in Mexico do not have access to financial services, which is a critical disadvantage when it comes to entrepreneurship, according to the The Gender Global Entrepreneurship and Development Index (GEDI), sponsored by Dell.

The study, which analyzed a sampling of 30 economies, identified Mexico as one of six countries with the highest gender gap in terms of access to financial services. In Brazil, women have 10% less access to those services; in Mexico and Uganda, the difference is 11%; in Pakistan, 14%; in India, 17%; and in Morocco, 25%.

“Access to a formal bank account is critical for high potential female entrepreneurs, especially since it is a necessary precursor to financing — bank loans, credit lines, etc. — that fuels business growth,” the study says.

Despite the lack of access to financial services among the majority of women and gender inequality, Mexico ranks No. 10 in the evaluation with an overall score of 43 out of 100, which places it in the “moderate performer” range. The highest places on the ranking, considered to be “top performers,” are held by the United States, Australia, Sweden, France and Germany.

Mexico ranks second in Latin America among the top countries to be an entrepreneur, behind only Chile, which has an overall score of 55. Peru is the third-highest evaluated country, with 40 points, followed by Panama, with 39, and Brazil, with 35.

Mexico, however, fell one spot from the 2013 index. The study did not elaborate on why it fell. Malaysia, Morocco and Egypt also fell in the rankings.

Another pillar where Mexico could improve its performance is in female leadership. According to the study results, nearly 32% of Mexican executive, management and decision-making positions are held by women. Jamaica, at 59%, is the top evaluated country in this area, even above the United States, with just over 40%.

Mexico ranks well in Entrepreneurial Aspirations, even though the entrepreneurial environment needs to be further developed.


The study method includes 15 pillars grouped into three categories:

  • Entrepreneurial Eco-system: Opportunity recognition, skills for entrepreneurship, willingness and risks, networking and the culture of support for women.
  • Entrepreneurial Environment: Business opportunities, technology development, quality of human resources, skills and gender gap.
  • Entrepreneurial Aspirations: The ability to create new products, process innovation, leadership, globalization and external financing.

“Our goal with this research is to provide a diagnostic tool that will point the way for leaders, policymakers and lawmakers to identify strategies to incrementally improve conditions in their country and enable businesses founded by women to thrive,” said Charlotte Deal, director of Dell’s Women’s Initiatives.

The GEDI recommends that public policymakers improve access to education, technology development, access to capital and promote networking.

“While there are bright spots and room for optimism, the overall picture points to an urgent need for change,” the study adds.

Adolfo Ortega

Adolfo Ortega

Es periodista desde 1996. Trabajó en Reforma, El Universal,, El Independiente y Entrepreneur. Co fundó una empresa de inteligencia de mercado. Fue editor general de la revista Expansión y Publisher de Chilango y QUO. Es editor en jefe de Ventura México.