We found these European designed folding umbrellas a few years ago.  They have performed extremely well for our customers and come in a unique selection of designs. They are compact size when closed (about 12-1/2" long), 48" arc when open (full size), auto open and close feature (just push the button), with unbreakable fiberglass ribs.  Small enough to fit in a purse or tote.

$24.50 each.

They make wonderful gifts as well as keeping one to use yourself.