Achieving gender parity in entrepreneurship could significantly boost European economies, new research carried out by Frontier Economics and commissioned by Amazon shows. The study looked at 13 European countries and found that reaching gender parity in new business creation—where 50% of startups are founded by women—could increase productivity by 1.6% to 5.5% by 2040, depending on the country, translating into substantial economic gains across the continent.
Currently, only one-third of EU businesses are started by women, representing significant untapped potential. By 2040, the present value of the annual increase in Gross Value Added (GVA) from achieving gender parity would reach approximately €250 billion across the studied countries—larger than the EU’s annual budget.
To further understand the challenges behind this gender gap, the study surveyed approximately 600 business founders across six European countries—Denmark, Finland, France, Germany, Italy, and Poland—revealing specific barriers that disproportionately affect women entrepreneurs.
Key barriers holding back female entrepreneurs
While all entrepreneurs face challenges when starting and growing businesses, female founders reported more significant hurdles for growth and scale in several areas:
- Access to capital: 37% of female-founded businesses cited difficulty accessing investors or venture capital as a moderate or significant barrier, while 39% reported limited access to finance or credit.
- Regulatory obstacles: 40% of female entrepreneurs identified lack of accessible government support (incubators, networks, mentorship programs, courses one-stop-shops for important info and reporting) such as a barrier, with 37% struggling with complex administrative procedures.
These barriers not only affect individual entrepreneurs but also have broader implications for Europe’s economic competitiveness on the global stage.
The EU context: Opportunities to Leverage Existing Frameworks Supporting female entrepreneurship is extremely timely. Mario Draghi’s report on “The future of European competitiveness” highlights that the EU needs increased annual investments and R&D spending by €750-800 billion to unlock its full potential. Meanwhile Atomico points to a €375 billion shortfall in growth-stage funding for European startups over the past decade.
The European Commission’s Competitiveness Compass already contains several encouraging elements that could support entrepreneurial growth, including commitments to:
- Remove Single Market barriers that prevent investment, scaling and technology diffusion.
- Cut red tape by leveraging digital tools such as digital by default solutions for accessing company information, European Digital Identity Wallets, trust services, and tools for simplifying sustainability reporting and the EU taxonomy.
These strategic priorities align well with supporting female entrepreneurship, but more targeted measures are needed. By specifically addressing the barriers faced by women entrepreneurs within its competitiveness strategy, the EU could make significant progress toward closing its productivity gap with global competitors.
Five priority actions for policymakers and the EU
The study found that without additional measures, closing the gender gap among entrepreneurs would take between 6 and 24 years, depending on the country. However, accelerating this timeline to just five years would increase cumulative benefits by 45%.
Based on the research findings, five key priorities emerged for supporting female entrepreneurship, which the European Commission might want to adopt:
- Ensure that EU and national competitiveness strategies support SMEs and female entrepreneurs: Ensuring that policies designed to boost entrepreneurship explicitly address gender-specific barriers.
- Improving access to finance for female founders: Creating targeted funding mechanisms and investor education programmes to address the capital gap.
- Simplifying regulatory processes: Reducing administrative complexity that disproportionately affects women entrepreneurs with fewer resources or established networks
- Supporting digital readiness: Enhancing training and resources to help women-led businesses fully leverage digital marketplaces and tools.
- Addressing structural constraints: Implementing policies that help balance entrepreneurial activities with caregiving responsibilities.
The full report, “From Gender Gap to Competitive Edge: Advancing Female Entrepreneurship in Europe,” provides detailed findings and recommendations for EU and national policymakers, business leaders, and support organisations looking to promote more inclusive entrepreneurial ecosystems across Europe.
Amazon’s European initiatives
Amazon is already implementing programmes across Europe demonstrating practical ways to support women entrepreneurs:
Ruth Díaz, Amazon’s Country Manager for Spain
Gulfem Toygar, Amazon’s Country Manager for Sweden
Katarzyna Ciechanowska- Ciosk, Amazon’s Country Manager for Poland
Lucy C. Cronin, Amazon’s Vice President for EU Public Policy
Mariangela Marseglia, Amazon’s Vice President of Amazon European Stores
Enhancing digital skills and networks
“In Spain, we partner with Womenalia, the world’s largest Spanish-speaking network of professional women, to offer free training events focused on e-commerce, digital marketing, wellness, productivity, and networking. Our ‘Women Breaking Barriers’ initiative, driven by Amazon and Womenalia, has brought together hundreds of businesswomen in different Spanish cities to enhance their digital skills and strengthen their professional networks,” said Ruth Díaz, Amazon’s Country Manager for Spain.
Providing capital and business development support
“We are partners of Feminvest, the Nordic region’s largest hub for female entrepreneurs and investors, and we have recently launched Amazon Expand, a programme that will provide nine selected female entrepreneurs with support over a full year, combining business development expertise with specialised coaching in online marketplace scaling.” said Gulfem Toygar, Amazon’s Country Manager for Sweden.
Creating simplified pathways to market
“Polish women entrepreneurs are increasingly drawn to trusted marketplaces, which streamline the initial stages of their journey and guide them step by step through the e-commerce landscape. We share our know-how with sellers and help them expand their businesses”, explained Katarzyna Ciechanowska- Ciosk, Amazon’s Country Manager for Poland.
A call to action for Europe’s economic future
“Our research clearly shows that digital marketplaces are powerful equalisers for female entrepreneurs. Boosting female entrepreneurship isn’t just about equality—it’s essential for Europe’s competitiveness and economic prosperity. As a former entrepreneur myself, I believe digital tools are key to creating more inclusive economic growth across the continent.” Lucy C. Cronin, Amazon’s Vice President for EU Public Policy.
“This research demonstrates that achieving gender parity in entrepreneurship is not just a social imperative, it’s a tremendous economic opportunity for Europe. With the potential to generate €250 billion in value by 2040, supporting women entrepreneurs is one of the smartest investments we can make in Europe’s future competitiveness. At Amazon, we’re committed to breaking down the barriers women face, particularly in accessing capital and navigating regulatory complexity. By leveraging digital tools and marketplaces, we’re creating pathways for female founders to scale their businesses across borders with fewer obstacles. The data is clear: empowering women entrepreneurs drives innovation, creates jobs, and builds a more resilient European economy.” Mariangela Marseglia, Amazon’s Vice President of Amazon European Stores.
