Archive for the 'Micro-enterprises' Category

Women Entrepreneurship in the EU: The Numbers

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On a global scale, women are less likely than men to start their own businesses. This is evident from the above graph, taken from the “Policy Brief on Women’s Entrepreneurship.” The data shows that in every EU country, from 2010-14, there were significantly less female owners of new businesses, than male.

Why is this the reality?

The OECD SME and Entrepreneurship analysis proposes that a:

“…key factor in explaining the gender gap is the social and institutional context [of the countries]. Paradoxically, national-level gender equality is negatively associated with women’s self-employment choice compared to men’s (Klyver et. al., 2013), suggesting that gender equality policies in the labour market may cause women to prefer employment over self-employment (Nielsen et. al., 2010). Similarly, more supportive work-family institutions are associated with larger gender gaps in terms of business size, growth aspirations, innovativeness and use of technology. This appears to indicate that it is important to look beyond simple proportions of women and men entrepreneurs to the motivations and quality of the business, with the hypothesis that greater gender equality may improve good quality businesses and business creation based on positive choices by women, while reducing poorer quality business creation based on lack of choice.”

One of the economic reasons that women might choose employment over the entrepreneurial self-employed path, is that self-employed women make less money than self employed men, on average. This finding is displayed in the graphic below:

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Other factors, such as lack of resources and training for women in business, are consistently cited as justification for the lack of women entrepreneurs in the global . market. This apparent neglect of a business education for women is highlighted in the graph below:

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As displayed by the image, at least thirteen out of the twenty-two countries in the EU showed a significant gender gap in perceived accessibility to business training. This is where wegg™ can help. Our mission is to educate, inspire and nurture 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.

We provide monthly resources for women entrepreneurs to become educated on current business strategies in order to go global. If you are interested in entering business, or growing the business you already have, wegg™ can help you. Please check out our website, to discover possibilities you did not even know existed.

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JOIN us for our morning wegg™ workshop on September 12th and hosted by Bank of America (135 S. LaSalle Street, 44th Floor).  Julie Smolyansky, President and CEO, Lifeway Foods, will present “Follow Your Gut,” covering:

  • How global factors influence company values and mission
  • Why we should empower women entrepreneurs around the world
  • How to channel inspiration from travel experiences into marketing initiatives

Tickets $40 ($20 for students); includes Continental Breakfast.  To learn more and to register, visit:  https://www.eventbrite.com/e/weggtm-workshop-follow-your-gut-presented-by-julie-smolyansky-tickets-48655708534
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How Mastercard is Investing in Women Entrepreneurs in Developing Nations

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In Michelle Martin’s recent Forbes article, “How Mastercard Could Close A $300 Billion Credit Gap For Women Entrepreneurs,” she reports,

“As of 2017, 70% of women-owned MSMEs [micro, small and medium-sized enterprises] in the developing world lack access to adequate financing, representing a $300 billion credit gap each year.”

This major finance inequality stems from MSMEs not having access to a digital record of transactions or the resources required by banks to obtain credit. Because of these issues, women entrepreneurs, in places such as Nairobi Kenya, are not able to gain the capital needed to purchase inventory in order to expand their enterprises. Expanding a business is critical to the success of a business, and makes it possible for the entrepreneur to potentially achieve success on a global level.

Thanks to Mastercard, this $300 billion credit breach is about to change. The corporation is launching technology, through the Mastercard Center for Inclusive Growth, to aide women owned MSMEs in these countries. Martin explains,

“In partnership with Unilever, Mastercard recently launched the Jaza Duka program in Kenya, where they created a first-of-its-kind digital lending platform. The unique platform tracks how much Unilever product a store owner has purchased over time and combines that data with an analysis by Mastercard. The results are used to provide a micro-credit eligibility recommendation to Kenya Commercial Bank, who can then provide an interest-free credit line.”

The venture is already being met with success. In one instance, a Kenyan entrepreneur named Lucy Njoki, has been able to increase her sales at her shop by twenty-percent, thanks to the Jaza Duka program.

To read Martin’s full piece, and an interview she conducted with one of the executives of this Mastercard program, Shamina Singh, click here.

This support of global women entrepreneurs is the kind of change that we here at wegg™ are proud to watch. If you or a woman entrepreneur you know is trying to “go global,” we would love to help you, too.

_______________________________________________________

JOIN us for our morning wegg™ workshop on September 12th and hosted by Bank of America (135 S. LaSalle Street, 44th Floor).  Julie Smolyansky, President and CEO, Lifeway Foods, will present “Follow Your Gut,” covering:

  • How global factors influence company values and mission
  • Why we should empower women entrepreneurs around the world
  • How to channel inspiration from travel experiences into marketing initiatives

Tickets $40 ($20 for students); includes Continental Breakfast.  To learn more and to register, visit:  https://www.eventbrite.com/e/weggtm-workshop-follow-your-gut-presented-by-julie-smolyansky-tickets-48655708534
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Stepping Stones to Prosperity for Kenya Women

Empower Kenyan women.

Empowering Kenyan women.

It goes like this.  A New York-based social enterprise Bird & Stone sells jewelry and sends 15 percent of its profits to the SiSi Fund.  SiSi Fund:

A micro-finance fund in Kitale, Kenya run by a nonprofit, it helps women, especially widows, get loans of anywhere from about $100 to $450 and learn business skills to start micro-enterprises ranging from fruit and vegetable stands to hair salons.

Why do Kenyan women need money moreso than others in Kenya?

Women, particularly widows, in Kenya, face a hard road.  When a woman is widowed, she traditionally doesn’t inherit her husband’s land.  Instead, the land,  along with all of his possessions, go to his brothers or other family members.

So the funding provides a three-pronged solution for women who need to get back on their feet to make a living, take care of their family and start a micro-enterprise.

Learn more:  Jewelry Startup Funds Micro-Loans in Kenya

Photo Credit: CGIAR Climate

Posted by:  Laurel Delaney

Kiva Fellows Make a Difference in Our World

Fellow at Kiva.org

Fellow at Kiva.org

Twenty-six Fellows are traveling to Kiva partner organizations in 31 countries on five continents around the world.  Twelve Fellows from previous classes are heading to new assignments to keep Kiva running smoothly.  What will they be doing?

For the next four months, they’ll work closely with Kiva’s partners to support their operations, improve the Kiva lending experience, and help them reach more borrowers. They’re truly on the frontier of Kiva to innovate, expand, develop and deepen Kiva’s connections to the field.

Learn more about how these Fellows are out to change the world, one step at a time.

Read:  38 Kiva Fellows head out around the world!

Photo courtesy:  Kiva.org

Note:  Applications for the next class of Kiva Fellows are now being accepted and are due tomorrow, January 27th. Apply here.

Posted by:  Laurel Delaney

Africa’s Untapped Resource: Women

Ella Peinovich (pictured lower right) is one of the three founders of Kenyan-based SasaAfrica, a women owned and operated social enterprise — offering an innovative e-commerce platform for female artisans, vendors and entrepreneurs in Africa to create sustainable micro-enterprises using mobile phones.

How We Made It in Africa talks with Ella about social entrepreneurship and Africa’s untapped resource:  women.

How did the idea for SasaAfrica come about?

I had been working within the informal settlements around Kenya over the past three years and saw the amazing cultural capital of the goods produced by the artisan community there and the disproportionately low economic value placed on their work. I was determined to create the tools and services that could enable these women to expand their access to consumers in a lasting and sustainable manner.

Read:  Social entrepreneur connects African women to global e-commerce

Illustration credit:  SasaAfrica Facebook Page

Also review Dell Social Innovation Challenge || ella

Posted by:  Laurel Delaney


WEGG Mission

Our mission is to educate, inspire and nurture 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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