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Asian women lead the way in entrepreneurship

Staff writer |
Women are more likely to become successful entrepreneurs in Asia than in Western Europe or North America, according to a research from HSBC Private Bank.

The study, conducted by market research company Scorpio Partnership on behalf of HSBC, found that 51 percent of female entrepreneurs surveyed in Asia have a net worth of more than $15 million, compared with 33 percent surveyed in the west.

The research is based on interviews with more than 2,800 business owners with a personal wealth of more than $1 million. It found that 40 percent of entrepreneurs in Asia are women, compared with an average of 31 percent in Western Europe and the U.S. In Hong Kong, this figure rises to 48 percent. In Germany, it is just 21 percent.

The survey also highlights other key differences between the new generation of entrepreneurs in Hong Kong, Singapore and mainland China and their counterparts in the UK, the US, France and Germany.

Family plays a big role for both male and female entrepreneurs in Asia: 49 per cent said they relied on family money to start their first business and 54 per cent come from families that already own a business.

Entrepreneurs in Asia also start their businesses earlier than in Western Europe and the U.S., at 29 versus 34 years old.

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