Grant Money For Female Business Owners
“The creation of businesses by women is a vector of growth and a lever for employment andco-entrepreneurship is a vital part of creating activity. “Many studies show that women’s involvement in entrepreneurship is an elementexplain a significant proportion of the growth differential between countries. A countrynot making the most of its entrepreneurial potential would not realize all its potentialof growth.. “In the current economic situation, it is of utmost importance to mobilizeall the talents and he is not about to waste skills and economic potentialbecause of outdated perceptions of the role of women and men and their capacity to lead “.
The demographic prospects of population aging should encourage businesses to drawin this talent pool too little exploited. “The demographic shock (aging, reservereduced assets) expected it more than ever necessary, for reasons of economic growth,women’s work. ” Hervé Novelli, French Secretary of State déclararait aboutfemale entrepreneurship it is a tremendous growth potential. “Today, women46% of the workforce while they represent only 28% on averageentrepreneurs in the SOHO / SME.
In the United States, they are 48%. We must catch up and supportwomen in their entrepreneurial approach. Advancing their number is to contribute the growth and job creation. ” Female entrepreneurship is developing everywhere, but with disparities from one country to another:Over the last twenty years, female entrepreneurship has taken a more important large in most industrialized countries but also developing countries and also specific characteristics (micro- enterprises). Women entrepreneurs create jobs for themselves and for others, sometimes in an attempt toanswer questions which would not meet employee status (schedules, vis-à-availability vis their family) while bringing to society, due to their specificity, different solutions for the management, organization and processing of business problems.They generally turn to small structures and usually to the said sectors services such as education, retail, personal services and, in a fairly pregnant to social entrepreneurship.
Now these sectors are often considered lessessential to the development and economic growth as high-tech or activities processing, and therefore less valued.Furthermore, studies show that with equal business opportunities, women have more difficulty obtaining financing than men and thus more difficult to develop their projects.The one hand, policy makers, and private financial institutions on the other must remedy these malfunctions. Designers Women also need training adequate, tutoring and expand their networks.
Place of female entrepreneurship , the reflection of a society?
Place and success of women entrepreneurs depend on cultural and environmental factors The expertise and resources required to create and manage a new business are anchored in the culture and history of the country (Granovetter, 1985; Sorensen and Audia, 2000; Uzzi, 1997) 18. Thus, the entities created vary depending on the availability of knowledge and resources to established entities in a context characterized by a high general level of business creation and resources abundant will be different from those within a context marked by a low level of business creation and scarce resources
19. We can therefore hypothesize that if entrepreneurship of women is different from men is that the history, culture and allocated resources have led to different roles in society. A few specific context encouraging has a powerful and profound impact on female entrepreneurial
20. process and explain delays. These data make possible to hope catching if we act on the elements of background and if you create a more favorable framework (affirmative action).
Entrepreneurship: a human activity?
Many studies indicate that people generally consider entrepreneurship as a male activity and perceive it as a male domain. As entrepreneurship itself and its description (managerial skills, strong commitment, decision risk orientation on performance and results, independence, flexibility, and adventurous spirit offensive) do not define this activity as “feminine.” Career models remain strongly associated with traditional social roles of men and women. “We do them [women] not forgive the slightest deviation. “Yet according to many studies, women have professional ambitions altogether Similar to men, especially in terms of business creation projects. According to Mary Riebe 25 study, women have managerial qualities similar to those traditionally attributed to men in terms of commitment, motivation and growth.For the vast majority of women heads of companies surveyed, their business is the center of theirlife and their investment and total involvement.
Their willingness to conduct their business with stylemore understanding of different management, collaborative and more responsive to employees would preventno success and growth of their businesses, on the contrary. Support for women’s entrepreneurship : a case of democratic development .The quality of the development of female entrepreneurship seems to be correlated with the level reachedMore generally in the field of gender diversity . Thus, in countries where women are present in politics and / or in the corporate world to leadership positions , entrepreneurship is more developed .
Thus, the question of balanced participation man / woman in the life professional , about democracy , has a clear impact on this enjeu ( scandinaves27 countries).The following five countries : Iceland, Norway, Finland, Sweden and New Zealand have fivefirst World Economic Forum ranking places ; they offer the widest prospects terms of educational opportunities , political and professionnelles.
Grant Money For Female Business Owners: Women’s Entrepreneurship Financing methods
1. The personal and family savings
For thirty years, the micro financing companies , held by women or not, has not changed. Over 90 % of these businesses are funded by personal savings and family , most of the entrepreneurs having problems finding the initial funds . Help yourself and heaven will help you ! This is the maxim of the micro entrepreneur who is in two thirds of cases find only the financing of its business before hoping to complete its implementation by a family contribution, or possibly tontine MFI.
According to Mr. LELART35 (*), it is difficult to define the African tontine as there are several variants. The best known in the Democratic Republic of Congo is the “likelemba”. Originally, it was an ancient practice that once was to entrust the clan treasure in the hands of “lemba” by imposing perform the necessary expenditures. This has become especially in the cities in which the association members share all or part of their “wages” and have their entrust to one of them, in turn. This practice, especially seen in women, has a number of characteristics. Above all, this phenomenon has tontine informal.
African tontine are based on the personal relationship between the members. This customization allows members to better situate informal finance in relation to institutional finance. Informal finance and has the following characteristics:
– Absence of the conditions: no authorization to request, not the steps to take, not to give guarantees, not formalities, no time limits;
– Lack of management fees: the administration is minimized, a notebook in which are inscribed the names and amounts paid and made enough;
– No set framework: the tontine can group a few members or a few hundred to last a few weeks or several years;
– Lack of control by the Central Bank.
The tontine phenomenon also has a financial nature. Although mutual tontine be carry no interest, the member who has paid his share in part against a claim equivalent which will increase at every turn. Receivables and payables that perfectly offset throughout the cycle cancel the final round. In commercial tontine the contrary, the customer who puts his money safe in the hands of tontine sees its debt increase each time. The tontine seen its debt grow accordingly. These commercial tontine is thus accompanied by an interest. Tontine debt and the debt of its clients are progressing in parallel until repayment
3. The micro loans granted by MFI
The conditions for granting micro credit required by various Micro Finance Institutions (MFIs) can be classified in descending order of importance as follows: membership in the cooperative, have a deposit (savings in the MFIs) ownership of land, part of a solidarity group, be good producer and have a seniority d`au least six months in a revenue generating activity. As we can see, these conditions already exclude a number of micro entrepreneurs who can not fulfill this or that condition. As often internal l`objectif of microfinance institutions is to have a good rate of return, they would rather make sure the lender is potentially solvable. In doing so they leave out an entire class of applicants who could be prove efficient in the management of the loan. This is why women in particular resort to tontine.
4. Other sources of funding Other micro and small business financing sources can be classified into the following categories : extended family, associative savings , corporate savings , lenders and usurers
Women now run a third of all businesses in the formal economy worldwide. However, the majority of those operating in economies development and transition are very small or micro-businesses to the potentiallimited growth. Beyond the under-representation of women in companies all sizes, the larger the company, the less likely it is to be headed by a woman.Societal attitudes and social norms prevent some women as well consider starting a business, while systemic barriers that are Many women entrepreneurs are confined to very small companies operating in the informal economy.
This not only limits their ability earn an income for themselves and their families, but also restricts their real potential to contribute to socio-economic development, job creation andthe protection of the environment. The removal of barriers such as discriminatory laws on property and inheritance, customary laws, lack of access to formal financial institutions, and time constraints due to family and domestic responsibilities, mayprovide more opportunities for sustainable growth led businesses women.
This would contribute to the empowerment of women and gender equality and the creation of jobs.Investing in women is one of the most effective ways to increase equality and promote inclusive and sustainable economic growth. The investments in specific programs for women can have a significant impact on development, since women generally spend more of their income to health, education and well-being of their families and their communities than men. While targeted measures can bridge the parallel gap for women, it is also essential to eliminate aspects discriminatory, political, economic and social programs and practicesmay hinder the full participation of women in the economy and society.
The International program of work for the development of female entrepreneurship workin collaboration with partners to expand economic opportunities for women supporting entrepreneurs in starting, consolidating and expanding their businesses. This is accomplished through:
• the creation of optimal conditions to grow the entrepreneurship of women;
• strengthening the institutional capacity of financial service providers and non-financial to better meet the needs of women entrepreneurs;
• providing tools and tailored approaches to strengthen women’s ability to assemble and consolidate sustainable businesses. The program develops knowledge on women’s entrepreneurship and serves as a platform for the voice of women entrepreneurs and contribute to policy development. The International program of work program builds on gender equality policies are integrated into all the international program of work1 actions for the company’s development. The International program of work works for the development of female entrepreneurship in more than 25 countries covering Africa , Arab States , Asia and the Pacific , Central Asia and the Caucasus as well as America Latin .
Examples of achievements :
• In Laos, a 2010 assessment found that after the training and support provided by theprogram, monthly profits of businesses run by women increased by 50% (from 180-270 US dollars ) and sales have quadrupled ( from 490 to 2150 dollars the United States). These companies are also more likely to keep accounts official (38% against 22 % previously ) and to provide full-time jobs . Lesotho has integrated aspects gender, disability and HIV / AIDS in its policy on micro, small and medium enterprises to make it more inclusive. In Tanzania, memberships to associations of women entrepreneurs has increased 60% after participation in the International program of work program .• In nine African countries, local authorities and other stakeholders launched events around the ” Month of Women Entrepreneurs ” , organized each the years.
• Since its launch, The international program of work has reached over 125,000 beneficiaries, mainlyin East Africa, Southern Africa and East Asia .