In the United States, women-owned businesses are growing at more than twice the rate of other enterprises, contributing approximately $3 trillion to the economy and employing over 23 million people. Various causes are driving this tendency globally, according to study. Belonging to a group is mostly a matter of necessity in developing countries. Belonging to a merry-go-round becomes the only realistic option when other viable alternatives to pay for or supplement household incomes are

more »

... e. Furthermore, female-owned businesses have low capital requirements, low entry barriers, and low income (World Bank, 2015). Women-owned projects are typically informal and home-based due to socio-cultural restrictions. While working in a traditional sector requires less experience and start-up capital, the downside is that these sectors offer lower returns. Working from home allows women to satisfy competing demands for time caused by misappropriated share of housework and childcare responsibilities, while working in a traditional sector requires less experience and start-up capital. Social standards are the most frequently cited constraint to physical mobility, followed by public safety, according to a study on gender and economic choice published in the 2015 World Development Report on Gender and Development. Chamas, or merry-go-rounds, are women's investment organizations that have proven a sure path to financial freedom for a long time. Many of them, on the other hand, have burned out before making any significant gains, while others have grown to become financial institutions with significant power, influence, and money. These women's organizations have faced a number of challenges, notably in terms of their success and long-term viability. Externally sponsored organizations, for example, are frequently short-lived and tend to split the local community. They lack adequate mechanisms to ensure that everyone has access, and they are frequently hampered by poor leadership and management skills, a lack of technical and business skills, limited access to finance and capital, and competing demands for time between market and household work due to family obligations (Anderson & Jean-Marie, 2012).