Business Start Ups for Women Empowerment
Every business requires funding, yet women entrepreneurs often receive less of it than men do. This can hinder their growth and expansion potential significantly.
Female entrepreneurs have access to funding, mentoring and other supports through organizations like the Small Business Administration (SBA), Astia Advisor and NAWBO.
Education
Education has long been recognized as a powerful tool in the empowerment of women. It helps them gain acceptance into society, shape their identities, and become self-aware and aware of the world around them.
Women-owned businesses provide them with the opportunity to become successful entrepreneurs, leading them to lead better lives and contribute to society. Many women-run businesses have seen great success in this space.
Women-led financial businesses have emerged to help women regain control over their money. From aiding artists, retirees and the homeless with budgeting to launching an educational platform that uses tech to teach Generation Z about student loans - these ventures show just how popular a business opportunity can be for women.
Basic technical abilities, like how to start a business or calculate production costs, are beneficial in the pursuit of women's empowerment. But in order to truly transform women's lives, policymakers must address psychological and social obstacles that keep them in subordination.
Health
Health is defined as "the state of complete physical, emotional and social wellbeing" (WHO 1946). For humans, health is determined by genetics, lifestyle choices and environment interactions.
Women need access to quality reproductive health services, such as contraception and STI testing and treatment, in order to thrive. Furthermore, they should have affordable primary care available.
Healthcare start ups that promote women's empowerment are an effective way to foster this empowerment. Many organizations and private companies provide funding opportunities for new entrepreneurs so they can get their venture off the ground.
As one example, She Marketplace in the US created a marketplace for women to sell self-care tools and resources they create or own to support their mental, physical, and financial wellbeing. Furthermore, part of their profits go towards supporting sustainability goals such as gender equality and well-being.
Environment
Women-owned businesses are the fastest way for women to eliminate the pay gap and rise into leadership roles. Entrepreneurship also gives them the power to set their own hours and flexible working arrangements, which can help maintain a work-life balance while still working on personal projects.
Furthermore, women entrepreneurs often tackle problems no one else has addressed, making them successful role models for other female entrepreneurs.
Women should seek out a mentor in their area of expertise and take advantage of all available resources. Furthermore, attending conferences and events is beneficial as it will give them an edge over competitors.
Despite all of the progress that has been made over the years, women still face numerous obstacles when trying to break into corporate America. These include lack of funding, feeling invisible in the workplace and gender bias when making business decisions.
Business
Empowerment businesses are an emerging trend in global business. These organizations strive to address the issues women face and alter how society views female roles.
Companies that advocate for women's empowerment often experience tremendous corporate rewards, including an impressive surge in growth. According to a McKinsey Global Institute report, empowering women could add $12 trillion to world GDP by 2025.
Women's economic empowerment can have a major effect on businesses, particularly in developing countries. To be truly effective, an effective women's economic empowerment intervention must consider all aspects of value chain and opportunity creation - not only access to finance but also skills development and access to markets.
BSR and Women Deliver, in collaboration with the Dutch Ministry of Foreign Affairs, held a summit on May 16 to examine the business case for investing in women's empowerment and identify actions companies can take to empower women throughout their value chains. They discussed three roles companies have to play to drive change: enabling, inspiring and communicating.
