Women's Business - The potential of the Montenegrin economy
In cooperation with the Montenegrin Employers Federation ( MEF ), De Facto Consultancy in the period from August 1 to August 31, conducted research on barriers that entrepreneurs face in Montenegro when it comes to business. The research was conducted within the framework of the project supported by UN Women , which, under the title " Women's Business - The potential of the Montenegrin economy " implements MEF .
Montenegrin Employers Federation , as the ordering party , provided insight in its database and statistical indicators by which the total number of members of the MEF ( 1,043 economic entities) , 18 % are businesses that are owned by women . However , previous research work founding stated that the actual number of entrepreneurs - members of the MEF is even smaller , 12%.
The following graph gives an overview of the basic motives for entering their own business . Note that respondents could give multiple answers , so that the sum of totals exceed 100 % . Frequently mentioned motives are ensuring the financial stability of the family and an entrepreneurial spirit . shows that women are less motivated to enter into a business that would provide the primary funding for family ( 34.3 % of women stated that as a reason compared to 77 % of men ) , but more often than men as a reason cited : secondary income families , desire for personal proving , possessing an entrepreneurial spirit and lack of progress or dissatisfaction with conditions in previous work.
The following graph presents the data on how the respondent come up with the funds to start their own business. We see that the majority of respondents invested their own money , while a significant number of respondents funds provided through the support of family ( 32.9 % ) or raising commercial loan ( 17.1 % ) . From Table 10 , we see that women are more likely to invest their own money or borrowed from friends ie . that their commercial loans were less available . Men were even more likely than women to raise funds provide loans. Members of both sexes had the support of her family at a similar level. From this we can conclude that women are largely driven by companies using a variety of state- supported programs such as the program of the Employment Department or for small and medium-sized enterprises, while men are more accessible to commercial loans. The state should allocate more resources and to make them bigger and more accessible to women , in order to rely less on borrowing and were emboldened to start a business because they obviously classic routes to the initial capital less available .
The next question was about the whereabouts of the business premises of the company. We see that most of the companies located in the area that is owner-occupied respondents / ca. In the table below we see that women are somewhat less likely than men undertaking their business activities in their home.
From the graph we see that a little more than a third of respondents advised regarding business decisions with an accountant or a business partner.