Women Leading Over 1,000 Companies with Billions in Turnover in the Country
The number of women-led companies in Hungary with billions in turnover has seen a significant increase in the past two years, according to data from the Opten database. The proportion of women in management positions has also been on the rise, especially as the age of entrepreneurs increases.
Opten reported that the number of businesses with female-only management worth billions has surpassed a thousand, despite a decrease in the overall number of operating companies in Hungary. This trend highlights the success story of women in the business world, showcasing their increasing presence and influence in higher turnover companies.
Csaba Alföldi, a business information expert at Opten, noted that there has been a steady growth in the number of women entrepreneurs. While medium and smaller companies are more likely to be run solely by women, half of companies with a turnover of a billion forints also have some form of female management.
Interestingly, the data reveals that men continue to dominate among young entrepreneurs, while the proportion of women in management positions increases among older age groups. The report from Opten also highlighted a generational trend, with Generation Z having a lower percentage of female business owners compared to the oldest generation.
Looking towards the future, a greater focus on Environmental, Social, and Corporate Governance (ESG) could further increase female participation in management roles. These values align with sustainable business practices and social impact, which women-led firms are more likely to embrace. Women in management bring diverse perspectives, conflict management skills, and empathy to organizations, contributing to their success and sustainability.
Despite the majority of domestic businesses still having a higher proportion of male owners and managers, women’s participation in management roles remains significant. The data also shows a decrease in the number of female owners and directors last year, highlighting the need for continued efforts to support and empower women in business leadership roles.
Overall, the growing presence of women in management positions brings numerous benefits to companies, leading to more sustainable business practices and positive social impact. As the number of women-led businesses continues to rise, the business landscape in Hungary is becoming more diverse and inclusive.
