According to the Global Entrepreneurship Monitor 2019/2020 Global Report, North Macedonia is highlighted as a country with a significantly low rate of female entrepreneurship. With male rates for the early-stage entrepreneurial activity of 9.0% and female rates of 3.3%, this places North Macedonia as one of the countries with the highest levels of gender-based levels of entrepreneurship discrepancies. Emergence and development of female entrepreneurship over the last years are closely linked to the process of achieving gender equality, and the overall democratization of Macedonian society. Unlocking this potential is essential for economic growth. The analysis showed that the legal framework in North Macedonia in terms of the entrepreneurial ecosystem needs further improvement, especially since legislation is a key tool of a sound policy that is conducive for the sustainable development and promotion of innovation. The legal provisions for starting a business and resolving insolvency are encouraging. However, Macedonian female entrepreneurs are still faced with a lack of access to finance, gender-related problems, and social and cultural commitments. With a critical review of the existing literature and evaluation of the current situation of this segment, this thesis identified the challenges female entrepreneurs face in North Macedonia and how development programs can address these issues, empowering female entrepreneurs through the use of social innovation.
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