• About Us
  • Write for Us
  • Paid Content Solutions
  • Contact Us
ExpertHub
  • HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
    • All
    • Company Posts
    • ExpertHub Today
    Transunion Global Capability Centres Boom

    Global Capability Centres Boom As They Move Up The Value Chain

    Global Tech companies

    Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

    Innovation Summit

    Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

    Three customer experience strategies you’re missing-23Sep21

    Three Customer Experience Strategies You’re Missing

    Embracing digital 1st world, SMBs confid. to thrive-23Sep21

    Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

    SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

    Applications for SAB Foundation Are Now Open

    Trending Tags

    • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
    No Result
    View All Result
    • HOME
    • LAUNCH
    • BUSINESS
    • LEADERSHIP
    • MONEY
    • SUCCESS
    • NEWS
      • All
      • Company Posts
      • ExpertHub Today
      Transunion Global Capability Centres Boom

      Global Capability Centres Boom As They Move Up The Value Chain

      Global Tech companies

      Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

      Innovation Summit

      Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

      Three customer experience strategies you’re missing-23Sep21

      Three Customer Experience Strategies You’re Missing

      Embracing digital 1st world, SMBs confid. to thrive-23Sep21

      Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

      SAB Foundation Calling All Entrepreneurs Tholoana Entps. Prog.

      Applications for SAB Foundation Are Now Open

      Trending Tags

      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      No Result
      View All Result
      ExpertHub
      No Result
      View All Result
      Home NEWS ExpertHub Today

      South African Women Entrepreneurs Bridge the Digital Divide

      ExpertHub Staff by ExpertHub Staff
      Aug 30, 2021
      in ExpertHub Today
      78
      South African Women Entrepreneurs Bridge the Digital Divide
      Share on FacebookShare on TwitterShare on LinkedIn

      RelatedTopics

      Global Capability Centres Boom As They Move Up The Value Chain

      Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

      Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

      • Latest research by Mastercard shows high digitalization among women-owned businesses as opportunity for broader SME recovery and digital economy growth
      • 79% of the South African women entrepreneurs have an online payment method in place according to the Mastercard MEA SME Confidence Index

      Despite having to contend with gender disparities, women entrepreneurs in South Africa are bridging the digital divide and have adopted and integrated digital solutions into their businesses on a scale comparable to their male counterparts. In new research by Mastercard, women-owned small and medium enterprises (SMEs) believe there are huge benefits of a cash-free economy to their businesses.

      According to the inaugural Mastercard MEA SME Confidence Index, 79% of women entrepreneurs have an online payment method in place, which is on par with their male counterparts. In terms of a digital footprint of South Africa’s women entrepreneurs, social media (94%) leads the way, followed by a company website (91%).

      From presence to payments, digital and cash-free economy leads

      According to the Mastercard survey, confidence levels around digital transactions are high with two-thirds (67%) seeing no challenges to accepting more payments digitally – especially card payments (45%) and mobile payments (41%).

      Growing confidence levels in digital as a business imperative, is tied to a deeper understanding and wider recognition among SMEs of the advantages that result from a growing digital economy. When asked about the biggest benefits of a cash-free economy to their businesses, women entrepreneurs highlighted the increased efficiency of transactions across multiple channels (90%).

      They also appreciated having a more convenient way of paying suppliers and employees (89%), faster access to revenues (83%), the ease of not handling cash (79%), credibility with banks and government (79%) and less potential for fraud (76%).

      For many small businesses, reducing their dependence on cash through digital payments acceptance has played a major role in being able to get paid and maintain revenues. Eighty nine percent of women SMEs agreed that digital and online payments are important in helping them grow their business, 86% lauded the safety and convenience of contactless payment technology, while 77% conceded that their customers prefer to pay through digital methods since the outbreak of the pandemic.

      “Women small business owners are showing resilience and incredible adaptability, despite having to navigate lockdowns, and restricted supply chains due to the Covid-19 pandemic. While several challenges remain, it is encouraging to see how women-owned SMEs are transforming the way they do business to benefit from the digital tools including safe and convenient electronic payments solutions that are currently shaping commerce,” says Suzanne Morel, Country Manager for Mastercard, South Africa.

      Women-owned SMEs optimistic about the future

      While the majority (85%) of South African women-owned SMEs say that the pandemic has negatively impacted their revenue, looking forward however, 82% are projecting that their earnings will either hold steady or grow in the next year.

      Women SMEs in South Africa identified ‘better data, analytics and insights‘ (54%) as the top area that offers the highest growth potential for their businesses, closely followed by ‘upskilling staff for the future’ (51%) and ‘access to training and development support’ (49%).

      When asked about what keeps them up at night, 43% of women SMEs in South Africa mentioned being ‘able to maintain and grow their business’, while 24% are worried about staying in business or going bankrupt. Looking ahead at the next year, more than three-quarters (77%) identified the rising cost of doing business, 61% cited red tape and regulations, and 50% mentioned getting access to capital as their biggest business concern.

      “At Mastercard, we want to help as many women-owned businesses to reach their full potential as possible. Last year, we made a global commitment to connect 25 million women entrepreneurs to the digital economy by 2025 by providing them with the tools, training and solutions they need to survive and thrive now, and in the future,” says Morel.

      In addition to empowering women-led businesses everywhere with digital payments acceptance tools, Mastercard is also advancing social progress through financial literacy and training to encourage the growth of entrepreneurship among women. Through its partnership with Junior Achievement South Africa, Mastercard has empowered over 3,000 women to gain entrepreneurial skills, start their own ventures and create new jobs.

      ExpertHub Staff

      ExpertHub Staff

      ExpertHub’s award-winning team of Staff Writers deliver unique, insightful and curated content from successful business leaders, authors and subject matter experts. This highly-experienced team understands the information that business readers are looking for, what’s unique and impactful, and how to distil key ideas into actionable insights.

      Quick Links

      • Business Plan Advice
      • Business Plan Format Guide
      • Business Plan Format
      • Sample Business Plans

      NEWSLETTER SIGN-UP

      Sign-up for Weekly ExpertHub Updates

      * indicates required




      EXPERT INSIGHTS

      Startup Content Marketing: 3 Things To Do Right Now

      Startup Content Marketing: 3 Things To Do Right Now

      by Frank Hamilton

      Content marketing has become so popular that brands both big and small eagerly use it in almost every marketing campaign....

      Work Life Balance - Morning Mindset Practices

      Morning Mindset Practices Are Key To Maintaining Balance

      by Sheila Vaske

      Work / Life balance is a huge topic these days, and one that really needs some attention. I hear it...

      Must-Have Mindset for Business and Leadership Success

      Must-Have Mindset For Business and Leadership Success

      by Laura Di Franco

      Business and leadership success start with a discipline of mindset moves, including having fun with your fear.

      Improve Customer experience

      7 Methods Merchants Can Use To Transform the Customer Experience

      by Frank Hamilton

      How You Can Transform Your Customer Experience And Why It Is Important

      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us
      • About Us
      • Write for Us
      • Paid Content Services
      • Contact Us
      • Terms & Conditions
      • Data Privacy Policy
      • Privacy Policy
      • Sitemap

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      No Result
      View All Result
      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS
      • About Us
        • Write for Us
        • Paid Content Services
        • Contact Us

      Copyright © 2022 ExpertHub.info
      Revenue Growth Experts

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In