The index of female entrepreneurial activity in Russia reached a maximum

The Women Business Index (WBI) in Russia reached 73.7 percentage points in 2023, the highest value since the beginning of measurements. This was told by the executive director of the NAFI analytical center Lyudmila Spiridonova at the summer meeting of the closed club “Kommersant” “Women in Business”.

The WBI index shows the level of favorable business and social environment for the development of women’s entrepreneurship in Russia. It has been measured by the Opora Rossii Committee for the Development of Women’s Entrepreneurship since 2015 through a survey, which is operated by the NAFI analytical center. This year, 800 women aged 18 to 60 took part in the study, 300 of whom are managers or business owners in the medium and small business segment.

According to the data presented by Ms. Spiridonova, in 2015–2017 the index was at the level of 56–59 p.p., in 2017–2019 it exceeded 69 p.p. p.p., and in 2021 a rebound to 71.1 p.p. Finally, last year the WBI was at 69.8 p.p.

“Unexpectedly, in the first half of 2023, we found that the index has grown: many women began to say that they see good prospects for business development in connection with the opening of new niches in the market, they feel strong in themselves and assess the situation rather optimistically than pessimistic,” explained Lyudmila Spiridonova.

She also listed the main trends in the development of women’s entrepreneurship in Russia: focus on social projects and solving urgent social problems and tasks; request for a horizontal format of cooperation; support of partners, contractors; humanitarian role within your company, democratic management style; request for business training.