Women Entrepreneurs: Driving a Sustainable and Inclusive Future
The recent World Entrepreneurs and Investment Forum (WEIF) in Bahrain underscored a pivotal shift in global economic thinking: women aren’t simply beneficiaries of economic growth, they are its architects. The Manama Declaration, issued at the forum, places women at the heart of economic transformation, recognizing their crucial role in fostering inclusive and sustainable development. This isn’t just a matter of equity; it’s a matter of economic imperative.
The Rise of the Green, Blue, and Orange Economies
The Declaration specifically calls for strengthening women’s presence in emerging sectors – the green, blue, and orange economies. These represent significant opportunities for innovation and growth. The green economy focuses on environmental responsibility, the blue economy on sustainable ocean resources, and the orange economy on creativity and cultural industries. Women are increasingly leading the charge in these areas, bringing unique perspectives and solutions.
For example, Sonia Mohamed Janahi, founder of Maya La Chocolaterie in Bahrain, exemplifies this trend. With support from UNIDO, she expanded her business to Côte d’Ivoire, creating jobs and promoting ethical cocoa sourcing – a clear demonstration of impact within both the orange and green economies.
Networking and Collaboration: The Power of Connection
The WEIF served as a powerful platform for networking and forging partnerships. Doris Martin, CEO of DMartin Consultancy in Bahrain, successfully established collaborations with companies in the United Arab Emirates and Morocco through B2B meetings facilitated at the event. This highlights the importance of creating spaces where entrepreneurs can connect, share knowledge, and unlock recent opportunities.
Tosin Arwejulo, CEO of Leadership Excel Consultancy, described the forum as a “powerful networking platform,” connecting her with leaders from across the globe. These connections are vital for scaling businesses and accessing new markets.
Inclusive Entrepreneurship: Empowering Artists with Disabilities
The forum also spotlighted the importance of inclusive entrepreneurship. The “Determined Creative Entrepreneur” exhibition showcased the talents of artists with disabilities, like those supported by Nisreen Samour of Micro Art Center in Bahrain. Samour’s center provides training and development, empowering artists to enter the job market and contribute to the economy.
This focus on inclusivity is crucial. Technology is playing an increasingly important role in leveling the playing field, enabling individuals with disabilities to overcome obstacles and build successful businesses.
The Role of Education and Academia
Preparing the next generation of female entrepreneurs requires a fundamental shift in education. Dr. Nihal Al-Najjar, professor at the Royal University for Women in Bahrain, emphasized the need to integrate entrepreneurship into academic curricula, focusing on experiential learning and practical application. Universities must also connect students with mentorship opportunities and funding networks.
UNIDO’s Commitment to Women’s Economic Empowerment
UNIDO Director General Gerd Müller reaffirmed the organization’s commitment to empowering women, recognizing them as a driving force for sustainable development and global innovation. UNIDO is actively working on recovery programs in crisis-affected countries like Syria, Sudan, and Palestine, prioritizing support for women-led initiatives.
Success Stories from Nigeria and Beyond
The International Women Entrepreneurial Challenge (IWEC) recognized Oluwakelemi, a Nigerian entrepreneur whose gifting and lifestyle retail business supports household incomes and is poised for international expansion. Her story, along with others honored at the WEIF, demonstrates the transformative power of women-owned businesses.
Future Trends in Women’s Entrepreneurship
Increased Access to Funding
While access to finance remains a significant challenge, innovative funding models are emerging, including crowdfunding, angel investing networks specifically focused on women-led ventures, and microfinance initiatives. Expect to see more targeted funding programs designed to address the unique needs of female entrepreneurs.
The Growth of Impact Investing
Impact investing, which prioritizes social and environmental impact alongside financial returns, is gaining momentum. Women entrepreneurs are particularly well-positioned to attract impact investment, as their businesses often address critical social and environmental challenges.
Digitalization and E-commerce
Digital technologies are breaking down barriers to entry for entrepreneurs, particularly in developing countries. E-commerce platforms provide access to global markets, while social media enables targeted marketing and customer engagement. This trend will continue to accelerate, empowering women to build and scale businesses online.
Focus on STEM Fields
Encouraging women to pursue education and careers in science, technology, engineering, and mathematics (STEM) is crucial for driving innovation. Initiatives that provide mentorship, scholarships, and networking opportunities for women in STEM will be essential.
Frequently Asked Questions
- What is the Manama Declaration? It’s a statement issued at the World Entrepreneurs and Investment Forum, outlining key priorities for fostering economic transformation with a focus on empowering women.
- What are the green, blue, and orange economies? These are emerging economic sectors focused on environmental responsibility, sustainable ocean resources, and creativity, respectively.
- What role does UNIDO play in supporting women entrepreneurs? UNIDO provides technical assistance, facilitates networking opportunities, and advocates for policies that promote women’s economic empowerment.
- How can I get involved in supporting women entrepreneurs? You can support women-owned businesses, mentor aspiring entrepreneurs, and advocate for policies that promote gender equality.
Pro Tip: Leverage online platforms and social media to connect with women entrepreneur networks and access resources.
The WEIF and the Manama Declaration signal a growing global recognition of the vital role women play in shaping a more sustainable and inclusive future. By investing in women entrepreneurs, we are investing in a brighter future for all.
Did you know? Women-owned businesses generate significant economic activity and create jobs in communities around the world.
Share your thoughts! What are the biggest challenges facing women entrepreneurs in your region? Abandon a comment below.
