The main purpose of this research is to analyze the influence of environmental factors on female entrepreneurial activity, using an institutional approach as a theoretical framework. The empirical research uses regression logistic models and data from Global Entrepreneurship Monitor (GEM). The main findings indicate that informal factors (perceived capabilities to start a business, social networks and family role) are more relevant for female entrepreneurship than formal factors (financing, support policies to entrepreneurship and education). The research contributes both theoretically, with regard to advances in the field of female entrepreneurship and practically, for the design of support policies for female entrepreneurial activity. © 2012 Springer-Verlag Berlin Heidelberg.