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(C) Building Business Capability of Female Entrepreneurs

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Problem Statement Information

Category
Others, SME Finance, Trust Banking

Problem statement tags
2021alliancehack alliancehack financialeducation education nonfinancialservices edtech fintech healthtech training mentoring accesstoeducation accesstomarkets accesstonetworks

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 those from minority groups, in growing their small businesses, access to finance must be complemented with business and financial education (40 percent 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 that’s 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 e-commerce platforms, networking on social media platforms, etc.) and women are looking for one-stop shops that improve their skills, build their networks (including exports) and 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.

For more info, download the "Non-financial Services: The Key to Unlocking the Growth Potential of Women-led Small and Medium Enterprises for Banks"

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