Women make a significant contribution to the entrepreneurial advantage of nations and women-owned businesses are critical to economic prosperity. A higher level of participation by women in the economic arena is associated with higher standards of living (Reynolds et al., 2004). Nonetheless, since the inception of the GEM project in 1999, data have shown that women's participation in entrepreneurship is only about two-thirds that of men (Minniti and Arenius, 2003). In New Zealand it was expected that the entrepreneurial gender gap would be closing, possibly more quickly than in other countries, however the research results indicated the opposite.