Australia ranks second in the world as the best place for female entrepreneurship, according to a recent global study.
The 2015 Global Women Entrepreneur Leaders scorecard identified the obstacles to high-impact female entrepreneurship across 31 countries.
The United States came out on top (71), followed closely by Canada (69) and Australia (69) in equal second place.
The index is based on five categories: business environment, gendered access, leadership and rights, pipeline for entrepreneurship and potential entrepreneur Leaders.
Australia was found to be the top scorer for potential entrepreneur leaders with over half of Australia’s female entrepreneurs having a college background, which provides networks to leverage and grow their businesses.
Australia’s top 30 female entrepreneurs have a combined revenue of over $25 million a year.
While Australia was among the nine top-ranking countries with a score of 50+ out of 100, the study found 17 countries received scores that fell in the mid-range, between 30 and 50, suggesting there is still room for improvement.
“Without women participating equally and innovating and creating and scaling businesses, countries are going to miss out,” says Ruta Aidis, project director of the Global Women Entrepreneur Leaders Scorecard.
Here are the rankings: