Up to 26% of women in Baltic States are financially dependent on their partner or spouse. This means they lack the freedom of choice when it comes to independent financial decisions, according to SEB Bank’s survey.
The percentage of men who are financially dependent on their partner is 8%.
29% of women in Latvia say that if they faced financial challenges, they would lose support from their partner. 45% of Latvian women would have to take on all loan commitments in the event of sudden loss of their partner, BNN was told by SEB Bank.
«Stereotypes that go back years in the past and the traditional look and gender roles often put obstacles in women’s way towards their dream career or starting a business, but we want to encourage women to look at available opportunities to ensure a financially secure future. One such opportunity is becoming an employer,» says SEB Bank Small and Medium Enterprises Segment in Baltics Office’s manager Aija Miķelsone.
Data indicates that men in Baltic States are much more active when it comes to founding new enterprises – men own twice as many companies as women do. At the same time, the percentage of companies owned by women in Latvia is slightly higher than it its in Estonia and Lithuania.
«There are only two sectors in which women own more enterprises than men – health and social work sectors and education sector. Fewer women found companies in the finance and insurance sector, as well as construction and energy sector. A similar situation is observed in other Baltic States and Scandinavia, where women are mostly employed in the service sector, as well as social, health and education sectors. Women are less represented in energy, finance, construction and IT sectors. This indicates that gender stereotypes remain in certain sectors,» admits Miķelsone.
Survey results also indicate that 40% of women in Latvia have considered becoming entrepreneurs in the next three years. This is the highest percentage among Baltic States (33% in Lithuania and 32% in Estonia). The most common reason why women fail to become entrepreneurs – a lack of a business idea or because the wish to start a business is not strong enough. Additionally, Baltic residents also say that their business plans are slowed by the unstable situation in the economy, as well as the tax and bureaucratic burden. Fear of failure and lack of stability, as well as lack of knowledge and skills are also contributing factors. Financial support and favourable financial conditions are the two major factors that dictate successful starts of business endeavours.