How to Empower Global Female Entrepreneurs
Approximately 70% of female entrepreneurs are unable to access the financial services they require to help their businesses survive and grow. According to a Goldman Sachs study, improving funding for female entrepreneurs would “increase per capita income in emerging markets by an average of 12% by 2030.” in some countries, like Brazil and Vietnam, this could reach 25-28%.
Goldman Sachs and the International Finance Corporation recently developed a financing facility for female-owned SMEs called ”10,000 Women,” which aims to offer $600 million with its partners for 100,000 women’s entrepreneurial endeavors.
One Brazilian woman, Gircilene Gilca de Castro, shares her success after completing the program. She owns a flood service company and was able to receive two loans for equipment, rent a better facility, and expand her staff, many of whom are also women. Her revenue increased by 900%.
Furthermore, the Women Entrepreneurs Opportunity Facility, helps improve lending for female-owned businesses in nine countries.
Visit the initiative’s website for more information.
Source: Jin-Yong Cai, World Economic Forum