Mastercard’s latest study, unveiled ahead of International Women’s Day 2025, highlights an invigorating trend: an ever-growing entrepreneurial spirit among European women. The research shows that 40% of women across the continent have toyed with the idea of launching their own venture, with standout interest in countries such as Portugal (62%), Poland (47%), and Greece (46%).
A Rising Tide of Ambition
Across Europe, women are increasingly looking beyond traditional employment. Many see entrepreneurship as a pathway to financial independence, better work-life balance, and the realization of personal dreams. Nearly one in three (30%) women intend to kick off a side business within the next three years, with enthusiasm especially high among Gen Z (52%) and millennial women (41%). Already, 26% have taken the plunge with a side hustle, showcasing their commitment to carving out new income streams.
Generational Shifts in Motivation
The study reveals that while financial gains and enhanced autonomy drive many, the reasons for pursuing entrepreneurship differ by generation. Gen Z women, for instance, are uniquely inspired by the desire to create a positive societal impact. Approximately 19% of them want to start a business that contributes to the greater good—a figure that exceeds the interest seen among millennials (13%), Gen X (14%), and Baby Boomers (16%). Furthermore, half of the Gen Z entrepreneurs cited following a personal dream as their primary motivation, underscoring their commitment to purpose-driven work.
Preferred Sectors: A Glimpse into the Future
When it comes to industry preferences, young women are charting new territory. For Gen Z female entrepreneurs, the cosmetics industry tops the list, attracting 26% of interest compared to a European average of just 10%. Childcare and education, including tutoring, also rank high—with 14% and 13% respectively—highlighting a keen interest in sectors that blend profitability with social impact. Other areas such as online retail, food and beverage, and hospitality further illustrate the diversified ambitions of today’s young female founders.
Facing the Hurdles Head-On
Despite this surge in entrepreneurial zeal, challenges remain. Women across Europe tend to rate their business skills lower than men, particularly in areas such as financial decision-making (25% vs. 37%), public speaking (25% vs. 32%), and networking (15% vs. 23%). For aspiring business owners, the most significant concerns include the risk of failure (31%), lack of sufficient financial resources (29%), and limited experience (28%). The confidence gap is notably wider among younger generations, with 25% of Gen Z and 26% of millennials citing self-doubt as a barrier, compared to their male peers.
Even those who have already embarked on their entrepreneurial journey are not immune to challenges. Balancing caregiving responsibilities with business demands remains a key issue. Women founders report higher struggles with managing childcare (35% vs. 33%), disconnecting during holidays (48% vs. 42%), and sacrificing personal time for business needs (36% vs. 29%). Additionally, 15% of women acknowledge that caregiving duties significantly hindered their startup efforts, as opposed to 11% of men.
Empowering the Next Generation
The research underscores the need for targeted support to bolster women’s confidence in entrepreneurship. A significant 21% of respondents believe that comprehensive business planning training would be immensely beneficial, while easier access to small business grants could pave the way for more ventures. For younger entrepreneurs, building a supportive network is crucial: 30% of Gen Z women feel that partnering with someone would increase their confidence, and 24% see mentorship as a key factor—surpassing even the value placed on additional grants.
In essence, Mastercard’s findings illustrate a dynamic shift in the entrepreneurial landscape in Europe. With the right support and resources, the burgeoning wave of female entrepreneurs—especially among younger generations—has the potential to redefine business innovation and contribute meaningfully to society.
Beatrice Cornacchia, Executive Vice President of Marketing and Communications for Asia Pacific, Middle East & Africa, Europe at Mastercard, said: “This research highlights the remarkable entrepreneurial spirit among women across Europe, particularly within younger generations.
“Despite the progress made by women entrepreneurs, the findings also underscore the challenges that still exist. These barriers emphasize the need to provide them with the support they need to succeed. At Mastercard, we are committed to building an inclusive digital economy and equipping small businesses with the tools and opportunities they need to grow and thrive.”
Across Europe, Mastercard is actively championing initiatives designed to empower entrepreneurs and their enterprises. Among these is Strive EU, a program that has provided grants of up to €500k to innovative organizations dedicated to fostering the growth of micro and small businesses across the region. Meanwhile, Strive UK has engaged with over one million small businesses throughout the United Kingdom, with more than half of them led by women.
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