Building Business Capability of Female Entrepreneurs

Proposal submission date
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Problem Statement Information

Personal finance, Robo-advisor, All

Problem statement tags
women finance accesstofinance business womeninbusiness womenfounders smes womensmes accesstocredit b2b b2c banking fintech technology insurance payment wealth womeninclusion 2023alliancehack alliancehack africa asia latam america mea

Short Description

Create solutions that would improve women business owners’ access to education and networks. (B2B, B2B2C or B2C)

Detailed Description

Women-owned enterprises are an untapped growth opportunity for financial institutions; women are half of the population and own around a third of small businesses in developing countries. Better addressing their needs can unlock tremendous growth potential. Women-owned enterprises need more than just finance. Training, mentoring, networking, and other non-financial services can give entrepreneurs a vital leg up.  Create solutions that would improve women business owners’ access to education and networks. (B2B, B2B2C or B2C)

To support women, including women from minority groups, grow their small businesses, access to finance must  be complemented with  business and financial education (40% + of women going to a bank for a loan do not have a projected cashflow), access to networks and markets (women have smaller networks than men and yet size of network is correlated with business success), relevant information (timely and efficient--women are avid consumers of information) and some form of recognition (too few role models, require increased visibility). This holistic value proposition is what women need to succeed. 

Traditional approaches (classroom training, mentoring, trade fairs etc.) are being supplanted by digital platforms (PFM platforms, upskilling on eCommerce platforms, networking on social media platforms etc.) and women customers are looking for one-stop shops that improve their skills, build their networks (including exports), enable access to financing (at whatever stage of business lifecycle). Banks in the Financial Alliance for Women network offer this holistic value proposition but need to do so more cost effectively and at scale through use of innovative technology—fintech, edtech, healthtech—availing of real and financial sector stakeholders, to solve for business growth needs.


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