Business

Report: PH working moms aspire to become entrepreneurs but lack opportunities

The recent findings of LinkedIn Opportunity Index 2020 found that Filipino working mothers desire to own businesses as they believe it gives them more security than being employed. The report also saw that 22% — second highest in the world next to Brazil with 23% — of these working moms are single parents.

However, the respondents whose ages range from 18 to 65 years old, find it difficult to find opportunities citing a lack of resources and time.

The study, which professional network LinkedIn conducted across 22 countries, including Australia, China, India, Indonesia, Japan, Malaysia, the Philippines, Singapore in the Asia Pacific (APAC) region through online interviews, learned that 25% of Filipino working mothers see more opportunities if they become business owners. About 16% of those surveyed aim at having job security.

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“Across APAC, women feel that they face higher barriers to opportunities than men, such as a lack of work experience, confidence and a fear of failure,” said Feon Ang, vice president, LinkedIn Talent and Learning Solutions, Asia Pacific. Working mothers also struggle more with too many family commitments and a lack of support.”

While there may be obstacles for working moms to find opportunities, many of them are open to accepting offers that come their way.

Female workforce

A study by the National Economic and Development Authority reveals that the Philippines “has the lowest female workforce participation in Southeast Asia at 46%.” Filipino women are also more likely to quit work during their childbearing years.

“As industries face the global shortage of talent and skills gaps, it becomes more important for businesses to do more to encourage women to be a part of the workforce and help them reach their full potential,” Ang said.

“A diverse and inclusive workforce can be a huge advantage for businesses as employees can share and learn from one another’s perspectives, experiences and ways of solving problems.”