Monitor report, “women are nearly one-third more likely to start businesses out of necessity than men.” Because women are overtaking their male peers in the level of education obtained, having higher education degrees is one of the significant characteristics that many successful female entrepreneurs have in common. The average self-employment rate for women under 25 years old in OECD countries is 7.2%. The number of self-employed women has steadily increased over the past three decades, putting them at an approximate thirty-three per cent increase. Many female-owned businesses continue to be home-based operations. These types of businesses usually have limited revenue with about eighty per cent of them making less than $50,000 in 2002. This group made up about six per cent of total women-owned businesses. Children of these female entrepreneurs are expected to boost that number as they contribute to the growing number of female entrepreneurs. Most women-owned businesses are in wholesale, retail trade, and manufacturing. Female entrepreneurs have also made a name for themselves in professional, scientific, and technical services, as well as in healthcare and social assistance. In the majority of OECD countries, female entrepreneurs are more likely to work in the services industry than their male counterparts. In 1972, women-owned businesses accounted for 4.6 per cent of all U.S. businesses—that was about 1.5 million self-employed women. That number increased to 2.1 million in 1979 and 3.5 million in 1984. In 1997, there were about 5.4 million women-owned businesses and in 2007, that number increased to 7.8 million. The participation of females in entrepreneurial activities does of course vary in different levels around the world. For example, in Pakistan, female entrepreneurs account for only 1% of this gender's population, while in Zambia 40% of women are engaged in this activity. The highest number of females involved in entrepreneurial activities can be seen in Sub-Saharan Africa, with 27% of the female population. Latin America/Caribbean economies show comparatively high percentages as well (15%). The lower numbers are seen in the MENA/Mid-Asia region with entrepreneurial activities registering at 4%. Developed Europe and Asia, as well as Israel, also show low rates of 5%. International implications A recent international study found that women from low to middle income countries (such as Russia and the Philippines) are more likely to enter early-stage entrepreneurship when compared to those of higher-income countries (such as Belgium, Sweden, and Australia). A significant factor that may play a