There Can Be No Robust Growth Without Gender Equality

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According to Mari Kiviniemi, Organization for Economic Co-operation and Development (OECD) Deputy Secretary-General, investment in women boosts economic development, competitiveness, job creation and GDP — and that’s why we launched WEGG.  Read the latest OECD Yearbook 2015 by OECD and catch Mari’s article on gender equality.

Investing in the Future
People
Planet
Prosperity
OECD Yearbook 2015

Why a push for gender equality makes sound economic sense (turn to Page 20) by Mari Kiviniemi

Mari states: “Governments and businesses have a key role to play in reducing the gender gap, but they cannot act alone. Each and everyone of us is personally responsible as well. Both men and women must engage, commit and embrace this effort.”

Screenshot courtesy:  OECD Yearbook 2015

Attracting and Promoting Women Entrepreneurs in Cross-Border Trade

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Women play a big role in regional, national and international trade, competitiveness and economic growth.  Governments, private sectors and nonprofits such as WEGG can contribute and support women in economic leadership and global trade..

For example, women entrepreneurs in Uganda have asked their government to address the issues of non-tariff barriers (NTB), saying they hinder women’s participation in cross border trade.  NTBs are a form of restrictive trade where barriers to trade are established and take a form other than a tariff.  Non-tariff barriers might include quotas, levies, embargoes, sanctions and other restrictions.

Uganda Women Entrepreneurs Association Ltd. (UWEAL) indicates there is need for concerted efforts to address the challenge of NTBs, to come up with solutions and to attract and promote more women in cross border trade.

Read more:  Non-Tariff Barriers Failing Cross-Border Trade

Screenshot courtesy:  UWEAL

 

Best Resources (Sites) for Women Entrepreneurs in 2015

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We are thrilled, honored and humbled to make the prestigious Top 20 list of resources for women entrepreneurs in 2015.

Here’s what StarterPad said about Women Entrepreneurs GROW Global (WEGG):

As the name suggests, the mission behind Women Entrepreneurs GROW Global is to introduce women-owned businesses all over the world to the global opportunity. They want to empower every woman worldwide to go global. Originally started in 2008, the website …

Learn about the other great resources and sites mentioned for women entrepreneurs in the StarterPad list:  20 Best Sites for Female Entrepreneurs in 2015

We’ll say it for you:  We rock!

Illustration courtesy:  StarterPad

Only 2 Percent of Women-Owned Businesses Export Goods and Services

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According to Pamela Hamamoto, Ambassador and Permanent Representative of the US to the United Nations and other international organizations in Geneva:

… that the majority of WOBs [women-owned businesses] are in fact small and medium-sized enterprises (SMEs), accounting for one-third of SMEs. Yet only 2% of those WOBs actually export goods and services. ‘This is not just a women’s issue,’ she said, ‘men and women must work together to achieve real progress.’

What that tells us is there is a whole heck of a lot of room for improvement to help women get out of their own backyards and conduct business worldwide through platforms like WEGG.  WEGG is on a mission to educate women business owners and entrepreneurs worldwide on how to expand their businesses globally.  Watch for programs to make that happen — coming soon.

Read the entire article:  Women’s empowerment:  good for business, development and men

Screenshot courtesy:  International Trade Centre

Accept and Deal With Challenges: Global Success Will Come Your Way

Screenshot:  Linda Bi, President, Chicago Expert Importers

Screenshot: Linda Bi, President, Chicago Expert Importers

It’s clear that thanks to technology and the Internet, all businesses are becoming global.  That’s what Linda Bi, President of Chicago Expert Importers (CEI) says in the Chicago Sun-Times article (6/28/15).  CEI is a top importer of casting components in the mobile home/RV axle manufacturing industry. Over the years, Bi expanded the business into areas including, but not limited to: sporting goods and forklift- and school-bus components, to importing parts to also providing sourcing, logistics and warehousing and distribution, leading the 17-employee company to $40 million in yearly revenue — a sixfold increase from where it stood when Bi’s husband died 15 years ago.  Bi’s tip for success:  “Accept and deal with the challenges.”

Screenshot:  Shea Soucie, co-owner of Soucie Horner, Ltd. (Chicago)

Screenshot: Shea Soucie, co-owner of Soucie Horner, Ltd. (Chicago)

Shea Soucie is another prime example of women leading the charge in global trade.  Soucie is co-owner of the custom residential design firm Soucie Horner, Ltd., at 208 W. Kinzie St. in River North (Chicago), started a new business, SHIIR to import fine rugs and decorative carpets and sell them across the country and worldwide.  The company started exporting in 2013 to specific clients, such as a hotel in Delhi, India, and a super-yacht that travels the world.  Soucie’s tip for success:  “Look for female mentors in groups like the Women Presidents’ Organization — womenpresidentsorg.com.”

In the same Chicago Sun-Times article, WEGG is mentioned:

Only 12 percent of businesses that export are owned by women, which shows there’s room for growth, says Laurel Delaney, Executive Director of Women Entrepreneurs GROW Global, a new nonprofit organization that aims to boost the number of women business owners in exporting.

Read the entire article:  Women At Work:  ‘All Business Becoming Global,’ Chicago Importer Says

Promoting the Spirit of Enterprise and Women Entrepreneurs

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Saudi Arabia-based King Khalid Foundation and TRACCS signed a strategic partnership agreement to launch the Jeddah Entrepreneurship Meet and Competition. The competition opens doors for all budding entrepreneurs to present their ideas or existing business modules to be eligible for its mentorship and funding program.

The Jeddah Entrepreneurs Meet and Competition is an entrepreneurial development and sustainability promoting platform open for women across the Kingdom of Saudi Arabia to present innovative business ideas or existing businesses within three categories: social entrepreneurship, manufacturing and production and educational and lifestyle development.

Apply online here.  Learn more here.

Women Entrepreneurs: Be Bold, Be Brave, Fail Fast and Move On

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In Australia’s startup ecosystem, only 4.3% of startups are owned by women. Despite the fact that companies owned by women bring in 12% higher revenue on average, only 3-5% of female owned businesses receive venture capital.

What’s the reason for Aussie women not pursuing high-growth companies at an equal rate as their male counterparts?  StartUp Victoria’s (Twitter handle here) Female Founders’ committee member Richenda Vermeulen shares her take on the most popular reasons below.

Her first is to be bold and brave but I added fail fast and move on because without failure, you most likely are not taking risks or innovating.  When you trip up, you recover, learn your lesson and move on without missing a beat.

Are Female Entrepreneurs Set Up to Fail?

Women and Global Trade

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The Obama Administration is committed to boosting global trade for women entrepreneurs and business owners.  They also want to create new export opportunities for them.  Here’s why:

  • Pay more. Average pay at women-owned exporters is approximately 1.6 times higher than average pay at non-exporting female-owned businesses. This “exporter premium”—the amount by which exporters pay more than non-exporters—is larger than the equivalent premium for male-owned businesses, suggesting that increasing export participation by women-owned businesses may be one route to higher middle-class incomes.
  • More productive. Women-owned businesses that export are, on average, over 3.5 times more productive than women-owned businesses that do not export. In addition, women-owned exporters are also about 1.2 times more productive on average than male-owned exporters.
  • Hire more. Women-owned businesses that export employ an average of 42 people, compared to just 8 employees on average at their non-exporting counterparts.
  • Earn more. Women-owned businesses that export report average sales of $16.3 million, compared to $816,000 in average sales for women-owned businesses that do not export.

WEGG will play a major role in raising the number of women exporters.

To learn more about the Obama Administration’s mission to encourage women to participate in the U.S. and global economy, visit:  Women and Trade


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Our mission is to educate women business owners and entrepreneurs worldwide on how to go global so they can run healthier businesses and create a new future for themselves, their families and their community.

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