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Women-led enterprises make great contributions to economic recovery
Women-led enterprises make great contributions to economic recovery
Domestic enterprises, especially those led by women, have contributed greatly to the completion of the twin targets set by the Government amidst the adverse impact of the COVID-19 pandemic, head of the Management and Sustainable Development Institute (MSD) Pham Khanh Linh has said.
Addressing a workshop in Hanoi on November 6 on business transforming and the empowerment of women in engaging in business activities for economic recovery and development, Linh noted that there are about 200,000 women-led companies among the about 800,000 businesses in Vietnam, or 25 percent.
Besides, about 30 percent of the total small- and medium-sized enterprises (SME) in the country also have their leaders being women, Linh added.
Regarding the rights of children in business principle, Ines Kaempfer, Executive Director of the Center for Child Rights and Corporate Social Responsibility (CCR CSR) in Asia, said that pregnant and nursing women have high demand for nutrition and resting, therefore businesses should give them optimal conditions in the period.
Meanwhile, Ted Lopez, Executive Director of Alter Trade Foundation, said that the empowerment of women in business activities and ensuring the rights of women in working places are vital in the successful implementation of the Agenda 2030 on Sustainable Development Goals and the Convention on the Elimination of All Forms of Discrimination Against Women that Vietnam has committed to implement.
In order to speed up the national target on gender equality in labour and employment, it is necessary to review policies and programmes related to the economic power and ownership rights of women as well as equality in work place in both official and unofficial sectors, he said.
He also stressed the need to define the role of the government as well as international organisations and the private sector in shaping and impacting the employment market and the women empowerment process.
At the conference, participants discussed and sought solutions to enhance the role and power of women in economic sector, promoting women’s access and equal opportunities to enjoy benefits in employment, enhancing their capacity and promotion chances as well as involvement in the supply chain, thus contributing to prosperity and sustainable growth of enterprises and countries./.
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All comments [ 20 ]
The impacts of crises are never gender-neutral, and COVID-19 is no exception.
The pandemic has meant no job and no unemployment benefits or other protection.
For countless women in economies of every size, along with losing income, unpaid care and domestic work burden has exploded.
Through our Women Mean Business campaign, we highlight the multiple reasons why more investment in women entrepreneurs is needed. We also share our specific recommendations.
As we navigate through the COVID-19 pandemic, we call on decision makers to support women-led micro and small enterprises as an explicit part of international COVID-19 responses.
with the right support, women entrepreneurs living in poverty can contribute to community resilience and economic recovery during and after this crisis.
Women mean business. This is particularly the case in low-income countries. 37.8% of women in low-income countries intend to start a business within three years
Women are committed to their businesses
Women represent the biggest opportunity for economic growth. Research finds that, in a full-potential scenario in which women play an identical role in labour markets to men.
Women increase their income and savings. Globally in the Women in Enterprise programme, daily enterprise earnings increased by 91%. Bank account ownership more than doubled globally
Over 92% of women entrepreneurs said the training helped improve their businesses.
Groups and networks build women’s agency, providing them with increased access to finance, knowledge and skills.
Across 59 countries, the average global rate for business discontinuance is about 10% lower for women than for men. Women entrepreneurs are generally known for strong survival skills in business compared to men, which could be explained by a more carefully planned approach to business strategy.
Entrepreneurship is empowering. Running a business and having an income helped women gain a stronger position at home and in the community.
The case for investing in women entrepreneurs is even stronger when considering the multitude of barriers they face. These include, but are not limited to: harmful gender norms; limited access to finance; lack of business assets; unpaid care; lack of education and skills; an inaccessible business environment; and a global pandemic, resulting in an economic crash.
When funding or supporting women’s enterprise development, ensure this includes women in low-income communities. Enterprise development in these communities provides a pathway to ending (extreme) poverty, advances gender equality and improves women’s economic justice and rights.
The COVID-19 crisis risks losing decades of progress on women’s economic justice and rights. It creates an even greater urgency for investing in women entrepreneurs.
The women that we work with across the globe women have shown themselves to be astute in business, with their success meaning they are able to support their families and even elevate whole communities out of poverty.
Pre COVID-19 the World Economic Forum predicted that it would take 257 years before there was economic parity between men and women. This will no doubt be pushed even further back as a result of the global pandemic. We cannot and will not wait. More investment in women entrepreneurs is urgently needed, now more than ever.
Integrate a gender lens throughout the economic response to ensure relief packages reach women and meet their needs.
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