About 59.3% of SMEs, or small and medium enterprises, in Latin America are managed by women, showed a recent study as the world marks International Women’s Day.

Citing the study of, an accounting solutions company for SMEs, Entrepreneur on Monday reported that Costa Rica has the highest number of women who lead the management of an SME with 65.9%.

It is followed by Colombia with 62.1% and Argentina with 58.9%, according to the data.

“The participation of women ceased to be a gender gap issue and began to make an issue of the importance of women in the different sectors of MSMEs,” Patricia Rios, administrative leader of Alegra, said in a statement, referring to micro, small, and medium enterprises by MSME.

Rios emphasized that “the figures indicate that more than 50% of the administrative management is led by women is an achievement that helps to understand the feminine position in Latin American entrepreneurship.”

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