Women entrepreneurs are increasingly important participants in the new global economy. In many emerging free-market economies and newly democratic countries, women comprise a significant — and sometimes dominant — portion of the business infrastructure, not only in the informal and small business sector, but in corporate ranks as well. Yet their participation on the management of business overall and the making of public policy is still hindered by lack of adequate gender representation, legal, institutional and cultural barriers, and traditional societal practices.
For over 30 years, CIPE has been working to strengthen democracy around the globe through private enterprise and market oriented reform. CIPE’s program for women focus on empowering them as entrepreneurs and encouraging their full participation in civil life and policymaking with the goal of building democracy that delivers for all.
In honor of Women’s Entrepreneurship Day, CIPE hosted a Google Hangout with a distinguished panel of women leaders and entrepreneurs to discuss how women’s economic participation could be advanced globally. The panel featured Selima Ahmad, founder of the Bangladesh Women’s Chamber of Commerce and Industry (BWCCI); Lina Hundaileh, Chair of the Young Entrepreneurs’ Association (YEA) in Jordan; and Lucy Valenti, President of the Network of Nicaraguan Businesswomen (REN). Discussant and moderator were CIPE Program Officer Maiko Nakagaki and Research Coordinator Teodora Mihaylova.
Valenti shared her experiences and dedication to the tourist industry in Nicaragua. Hundaileh spoke about her experience of launching her own business in chocolate production by starting the first chocolate factory in Jordan, eventually exporting 60 percent of her production. Through her work in the Young Entrepreneurs’ Association, Hundaileh has been an active member of Jordanian civil society, helping women start their own businesses and increase their participation in the economy.
One important tool to increasing women’s economic participation in the economy has been a Women’s National Business Agenda. Such has been the experience of the Bangladesh Women’s Chamber of Commerce and Industry (BWCCI) and the Nicaraguan Network of Businesswomen. Valenti shared REN’s work on the launch of the Women’s National Business Agenda that targets all economic sectors and pointed out that this is the first time that women have become involved in advocating for economic issues in Nicaragua. Valenti highlighted the important contribution women’s businesses make to the economy. The economic agenda identified four main topics based on consultations with women business owners — access to credit, capacity building for women entrepreneurs, women’s leadership, and legislation. Women are not familiar with the laws that affect their businesses and the benefits that are available to them, and need leadership training in order to succeed as business owners, Valenti said.
Similarly, BWCCI launched the inaugural Women’s Business Agenda in 2009, which contained 30 concrete policy recommendations. The WNBA increased landing to women business owners, secured space at markets so that women entrepreneurs can sell their goods, and eased the business registration process.
The panelists discussed the importance of establishing women-only chambers of commerce and industry in order to bring attention to the needs of women business owners. The conversation demonstrated the convergence of the barriers as well as opportunities women entrepreneurs and business owners face around the world. Check out the full Google Hangout recording here.
Teodora Mihaylova is Research Coordinator at CIPE.