“REN-CIPE is [about] teamwork, working together with a person who is blazing a trail for me to follow,” said Noeilin Escobar, mentee and owner of Velas Amazonia, “so that my journey is clearer and easier.”
Dismal statistics state that 90 percent of start-ups will fail. But mentorship can help turn such potential points for failure into opportunities for success. By identifying the toughest moments faced by aspiring and starting entrepreneurs – particularly those who are women – support can be better targeted so that such barriers can be overcome.
In a partnership with Red de Empresarias de Nicaragua (REN), CIPE accounted for the particularly difficult stages in the journey to becoming a successful women entrepreneur: transitioning from the classroom to practical experience in the workforce, moving from the informal to formal economy, getting through the first few years of operating your business, and then continuing to develop and grow your enterprise.
Through connecting a mentor with a successful business to a mentee who is just beginning her venture and a female university student studying business, CIPE and REN created a value chain of knowledge sharing.
In a world saturated with media, the power of a single, compelling image can cut through the clutter. CIPE’s 2015 Global Photo Competition seeks to highlight creative and inspiring visual answers to this crucial question:
How can individuals be empowered to improve their lives and contribute to the democratic development of their communities and countries through entrepreneurship?
We received over 100 entries from dozens of countries, and our judging committee selected 10 as semi-finalists. Now, we want YOU to vote on the winners!
Syria now has one of the lowest education rates in the world. A 2015 Save the Children report estimates that 2.8 million Syrian children are not attending school and a quarter of school buildings have been damaged or destroyed. Many youth must forego education and work to help their families survive. Yet what often gets lost in this picture is the resilience shown by many young Syrians and their determination to play a role in building a better Syria.
Shamama Arbab, Vice President of the Peshawar Women’s Chamber of Commerce (PWCCI) in Pakistan, is both a director of her own business and a tireless advocate for economic inclusion for women in Pakistan. Peshawar is a city where it is often difficult for women to even leave the home alone, so launching and growing a business can seem like a journey too dangerous to consider. Yet given her own success, she strives to provide similar opportunities to other women. She is focused on fostering women’s economic, social and political inclusion, addressing inequality, building an ecosystem in which women entrepreneurs are empowered, and where women can contribute to the country.
Across South Asia, there are women like Arbab who are both inspirational and transformational. They are changing their countries from the inside out by changing the role that women play as citizens. With this blog series, “Exploring the Connections Between Women’s Economic Empowerment and Democracy,” based on a panel at a March 2015 National Endowment for Democracy conference in Delhi, CIPE is highlighting the work of several such women leaders of chambers of commerce and business associations in the region. Having broken through various glass ceilings themselves, these women are now sharing their success by building institutions and mechanisms to support women across the economy, from all walks of life.
Lebanon, it’s that country in the Middle East that you sometimes miss while going through a map. Despite its small size, Lebanon enjoyed quite a reputation in the 1960s and early 1970s as being the Switzerland of the Middle East, and Beirut, its capital, was known as the Paris of the Middle East due to the number of tourists it attracted and its role as a financial and trade hub for the region.
In recent years, however, Lebanon has been suffering from various social, political, economic problems. To discuss all these issues and possible solutions for them would require volumes so we’ll stick to economics this time with a little twist of politics. But before getting into that, how about we take a look at the numbers first.
Forbes estimates that 90 percent of startup businesses will fail. However, the entrepreneurship ecosystem – that is the enabling environment that is more or less conducive for startups – varies drastically throughout the world.
This year the World Bank Group’s Ease of Doing Business report rated Serbia and Nicaragua as the 91st and 119th easiest countries for doing business out of 189 countries, respectively. The Global Entrepreneurship Index ranked Serbia as the 78th and Nicaragua as the 87th most entrepreneurial countries out of 130 according to their index. These rankings highlight the progress albeit continued uphill battle entrepreneurs face in operating a business in these countries.
More accurately, the 2015 Female Entrepreneurship Index (FEI) elucidates the unique institutions impacting women in starting and operating a business: a provision for childcare services, work-family conflicts, limitations to freedom to work and travel due to traditional family and religious norms, and equal legal rights, in addition to meeting expectations and gaining access to education, capital, and networks.
In a unique mentorship structure aimed at maximizing the number of beneficiaries of the project, CIPE partners the Association of Business Women in Serbia (ABW) and Red de Empresarias de Nicaragua (REN) linked successful women entrepreneurs with emerging micro-entrepreneurs for one-year mentorship programs. Though FEI reports a nine percent increase in the number of female entrepreneurs who have participated in some form of post-secondary education, factors such as lack of confidence or practical know-how still prevent young women from actually acting on their business ideas and subsequently making it through the first few years of operation. To account for this in Nicaragua, REN linked each mentor-mentee pair with a female university student studying business at the top universities in Managua. Seeing first-hand how a real business operates and a microenterprise can scale allowed interns to apply the skills learned in their coursework.
This month’s Economic Reform Feature Service articles on the case studies of Serbia and Nicaragua outline the mentorship structure of each respective program and bring to light the power of women-to-women mentorship in building leadership and confidence, considering long term career goals, and creating a nurturing and supportive network to rely on when navigating difficult professional and even personal decisions. Women’s business associations like ABW and REN aren’t waiting for an enabling environment for women entrepreneurs but rather are creating their own.
Stephanie Bandyk is the Program Assistant for Global Programs at CIPE.
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“When women come together in Nicaragua, we usually talk about families and communities. We never discuss about our businesses. That’s why a community like Red de Empresarias de Nicaragua (REN) is important, where women are encouraged to talk about their businesses without offending someone or thinking it’s a taboo.”
Marla Reyes Rojas, the owner of Techno Commerce Group, told me this over a cup of coffee during my recent trip to Managua. I was glad to hear first-hand how a CIPE partner is fostering a community where businesswomen, like Marla, can openly talk and build networks with other women in business.
In such an environment, it’s crucial for women in business to come together and motivate one another. That’s why for the past year, REN led a mentorship program to develop leadership and entrepreneurship skills among women in Nicaragua. The program linked successful women entrepreneurs to female university students with business degrees (who served as interns) and emerging women micro-entrepreneurs (who were the mentees). REN matched ten teams — a team consisted of a mentee, mentor, and an intern — and each group worked to improve the mentee’s business.
The CIPE Development Blog provides coverage of the Center for International Private Enterprise and its partner network at work -- highlighting successes, drawing out lessons from failure, and exploring the broader issues of political and economic development. For more information visit CIPE.org.