Tag Archives: entrepreneurship

Exploring Frontiers of Entrepreneurship at GEC Milan

Milan with JehanAra_GEC_Mar2015

The author, Kim Bettcher, with Jehan Ara, President of the Pakistan Software Houses Association (P@SHA) in Milan.

 

What I love best about the Global Entrepreneurship Congress, most recently the GEC 2015 in Milan, is the diversity of approaches, organizations, and countries that I encounter under the big tent. At this carnival of entrepreneurship, one meets founders and policymakers, leaders from innovation economies and emerging markets, people who have already made it and others who are shaping the future.

Out of this medley, I try to stitch together, what do we actually know about advancing entrepreneurship? And where might promising new directions lie? For me, the theme of this year’s congress was moving the frontiers of entrepreneurship. We are currently pushing against several big frontiers, which include geographic, demographic, and policy frontiers.

Emerging markets are the first frontier. While commonly described as factor-driven or efficiency-driven economies, emerging markets contain pockets of innovation and entrepreneurial ambition. For instance, entrepreneur stories from the Middle East captured in Christopher Schroeder’s Startup Rising have created considerable excitement, as has the Cinderella story of Medellín, Colombia, the site of GEC 2016. In Milan, I was honored to have on my panel Jehan Ara, President of the Pakistan Software Houses Association (P@SHA), who recently founded the Nest i/o incubator. Ara described a growing entrepreneurial community in Karachi and a feeling among entrepreneurs of “wanting to give back” (not unlike the community spirit described by Brad Feld in Boulder). I was ecstatic to see our friends from Nepal, the Samriddhi Foundation, take the limelight as winners of the Rookie of the Year award.

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HeForShe: Engaging Men in Women’s Economic Empowerment

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By Spogmay Ahmed

On September 20, 2014 the United Nations launched the HeForShe campaign, a worldwide effort to engage men in the promotion of women’s rights. Over 200,000 men and boys have since signed the pledge to support gender equality, and the social media movement has reached more than 1.2 billion people.

The HeForShe campaign’s most recent initiative, IMPACT 10x10x10, calls upon governments, businesses, and universities to take a more active role in promoting gender equality. The World Economic Forum’s Global Gender Gap Report 2014 reveals a large discrepancy between men and women in their access to politics and economic empowerment.

In line with the theme for 2015 International Women’s Day – “Make it Happen” – IMPACT 10x10x10 offers those three key sectors guiding recommendations on how to enhance women’s roles in each respective community.

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Newsflash: Businesswomen Lead in Nicaragua

Mesa presidium

The draft Nicaraguan Businesswomen Agenda was presented during REN’s International Women’s Day forum on March 6, 2015. Speakers included Nicaraguan Minister of Industry and Commerce Orlando Solórzano and U.S. Ambassador to Nicaragua Phyllis Powers.

Empowered Businesswomen.” “Businesswomen Influence the Destinies of Other Women.” These two headlines ran in the March 7, 2015 editions of Nicaragua’s two leading newspapers, La Prensa and El Nuevo Diario.

It is not unusual for Nicaraguan media to publish articles related to women’s empowerment on International Women’s Day. Women are prominent in the Nicaraguan political sphere, thanks in part to gender quotas encompassed in the Gender Equality Law and the revised Electoral Law. Nicaragua now ranks 11th in the world in the proportion of women in parliament, 40 percent – far above most other Latin American countries (and the United States, with 18 percent). International Women’s Day provides an opportunity to highlight these advances.

What’s unusual in the case of the two articles linked above is the inclusion of one word: “Businesswomen.” Here is why.

Unfortunately the trend towards greater participation of women in the political sphere has been slow to spread to private sector organizations, which are key actors in advocating for policies that improve the business climate. A 2014 review conducted by the Network of Nicaraguan Businesswomen (REN) of the 19 business organizations that form the umbrella private sector association the Superior Council for Private Enterprise (COSEP) found that an average of 16 percent of board members are women. This is the same figure found by a similar study by the International Labor Organization in 2009.

Private sector organizations rarely incentivize women’s participation or provide equal access to information that can lead them to access leadership positions. As a result, there are very few private sector leaders promoting the specific interests and needs of women entrepreneurs in a substantial way.

On top of that, organizations of women entrepreneurs have historically operated based on incipient alliances and limited coordination with one another, resulting in disperse efforts to advocate for public policies that can improve the business environment for women entrepreneurs.

If this is the reality, are La Prensa and El Nuevo Diario’s articles simply fluff pieces scheduled to coincide with International Women’s Day?

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Building a Network of Change-Makers in South Asia

South Asia regional economic network members

In late January, CIPE held its sixth in a series of capacity building and networking workshops in Colombo for its South Asia regional network of women’s business associations, which includes organizations from Pakistan, Bangladesh, Nepal, Sri Lanka and India. When CIPE began to work with this group of women business leaders two years ago, the sessions focused primarily on issues such as board governance, strategic planning, staff and financial management, membership development, and services for members.

But between training modules, discussion often turned to the challenges facing women entrepreneurs in their countries, including policy barriers that tend to create a business environment unfriendly to women. Thus, CIPE always knew that eventually, the focus of the program must turn to advocacy for policy reform.

As a result, CIPE increasingly began to raise issues of policy – and policy advocacy – in the context of the training sessions. Then, last summer, CIPE awarded four women’s associations in three countries small grants by CIPE to carry out pilot, four-month advocacy projects.

One point that had frequently arisen in the training program was a lack of understanding of the complexities of policy advocacy, such as: identifying issues of concern to members; developing concrete policy proposals and specific recommendations to tackle those issues; the hard work involved in reaching out to policymakers; the need to broadly engage the media, association members, and the general public; and the need to track results and assess the impact of advocacy initiatives.

Moreover, the countries where the advocacy initiatives took place – Pakistan, Sri Lanka, and Nepal – are challenging environments. During the four months that these organizations were implementing their small grants, each country faced political turbulence that may have shaken the resolve of less dedicated change-makers.

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How Mentorships Support Women Entrepreneurs

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Children’s book and toys that were developed as a result of Association of Business Women in Serbia’s mentorship program.

 

Fear of failure. Lack of confidence. Aversion to risk. These are some of the biggest hurdles that one faces when starting a business. Around the world, these challenges are often far more pronounced for women entrepreneurs. The Global Entrepreneurship Monitor 2012 Women’s Report noted that one of the top reasons why there are significantly fewer female entrepreneurs than male entrepreneurs is because women simply believe they are incapable of launching their own businesses.

What can be done to reverse such beliefs?

One answer is fostering a network among women in business through mentorships.

The Association of Business Women in Serbia (ABW) and Red de Empresarias de Nicaragua (REN) both saw a pattern in their countries: women are reluctant to start businesses because they lack role models and the right skillsets to pursue entrepreneurship. To fill this gap, CIPE is supporting both organizations to empower and support aspiring or new women entrepreneurs in Serbia and Nicaragua.

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How Can Societies Support Women in the Economy?

Women entrepreneurs around the world face a myriad of challenges. Balancing obligations between at home and work, lack of networks, and limited access to finance are just few of the universal problems faced by women in the private sector. Such challenges hinder women’s full economic potential and thus hurt the overall economy.

This is especially true in developing countries where a large percentage of small and medium enterprises are owned by women.  Moreover, when women are not fully participating in an economy, they are marginalized and thus not represented equally in a society.

Overcoming these challenges require women to have a voice – and this can be done through women’s associations.  Women’s chambers of commerce and business organizations can help address issues faced by women in the economy by bringing them together to advocate for their economic rights.

In this month’s Economic Reform Feature Service article, CIPE summarizes a panel discussion that was held on Women’s Entrepreneurship Day. The three guest speakers – Lucy Valenti, the president of Red de Empresarias de Nicaragua; Lina Hundaileh, the chair of the Young Entrepreneur’s Association in Jordan; and Selima Ahmad, the President of the Bangladesh Women Chamber of Commerce and Industry – shared their stories about women’s leadership and importance of advocating for women entrepreneurs around the world.

The key, they all agreed, is for women to engage male stakeholders to challenge cultural, social, and economic norms that limit women’s full economic potential. Achieving these points would produce more enriching democracies that benefit all members of society.

Read the full story here.

Entrepreneurship and Women’s Economic Empowerment in Ecuador

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Fellows participating in the Emprendedores Ecuatorianos (Ecuadorian Entrepreneurs) program work on the details of their business plans at session in November 2014.

Ecuador, the land of the eternal spring, the Middle of the World, and the Galapagos Islands, is also a land where nearly 26 percent of the population lives below the poverty line. Seven of every ten people are employed informally — meaning they lack official contracts and may not be subject to worker protections — and over half are employed by businesses that are not legally registered. The entrepreneurial context in Ecuador is characterized by young entrepreneurs (73 percent are younger than 44 years old) with a variety of motivations: increasing their income, seeking independence, necessity, among others.

As of 2010, Ecuadorian women surpassed men in number of entrepreneurs (54 versus 46 percent). Entrepreneurship has long been recognized as a key source of empowerment and economic independence for women around the world, and particularly in Latin America.

The Emprendedores Ecuatorianos program, organized by CIPE partner the Ecuadorian Institute of Political Economy (IEEP), works to foster democratically and free-market minded entrepreneurs from the rural areas of Ecuador. To date, 45 women have completed the Emprendedores Ecuatorianos program. One of the 2013 graduates, Brenda Sumba, shared some of her thoughts on women as entrepreneurs.

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