Asia was a leader of gender equality with female entrepreneurs claiming to experience less bias and greater success in fundraising when compared to global counterparts.

Female entrepreneurs in mainland China led the pack with just 17 percent claiming to face gender bias compared to the worst markets, U.K. and U.S. at 54 and 46 percent, respectively, according to a recent survey by HSBC Private Banking. In Hong Kong and Singapore, 31 percent and 41 percent of female entrepreneurs, respectively, claimed to have experienced gender bias.

Fundraising outcomes also reflect this perception with female entrepreneurs raising more capital in mainland China (48 percent), Singapore (6 percent) and Hong Kong (5 percent). This marks a sizeable gap with western counterparts where female business owners struggled to fundraise at the same levels most notably in the U.S. (-8 percent), France (-7 percent) and the U.K. (-6 percent).

Whilst there is optimism about female fundraising in Asia, other areas of gender bias remain a global issue. The time required to raise capital, for example, remains longer for all females globally. In Singapore, it takes women an average of 9.1 months to secure funding compared to 8.1 months for men. In Hong Kong, it takes 9.7 months for women compared to 8.8 months for men.

Three Factors

In light of the challenges, respondents to the survey highlighted three factors that could improve the investment process for female entrepreneurs: greater access to a network of peers and mentors; more regular review of investments choices by investor panels with greater gender mix; and greater clarity on the specific criteria required by investors.

«This study makes it clear that more must be done to give female entrepreneurs the same chances as their male counterparts,» said Siew Meng Tan, regional head of HSBC Private Banking, Asia Pacific. «While we’re committed to helping all entrepreneurs succeed, we particularly want to help women grow their businesses through fundraising, networking groups and mentoring opportunities.» 

HSBC Private Banking commissioned the «She’s the Business» and surveyed more than 1,200 entrepreneurs in Asia, Europe, the Middle East and the U.S.