Women entrepreneurs

It is always heartwarming when well-meaning individuals go for initiatives that help the plight of the underprivileged. Likewise, it is also noteworthy when benevolent organizations address the concerns of certain demographics that are perceived to be vulnerable, women. 

Undeniably, women are special. So that, to some extent, they are afforded special treatments. For instance, there is a law in the country that, along with kids, protects women from violence. Though there are battered husbands too, legislators aren’t keen on recognizing them.  There must be some wisdom for that. Apparently, some are well demonstrated by several platforms that have been very successful to this day. 

In the past, most women, when they get married, resigned to the idea that they become purely homemakers. It has changed though through the years. In fact, a lot of women are so dominant and are occupying coveted positions in large companies.   

However, it is a fact too that some women are either traditional or so family-oriented that they give up their lucrative jobs once they get married (especially when they already have kids) and embrace homemaking fulltime. To the affluent families, well and good. Their economic needs will be more than addressed by the fathers’ income. To the poor families, however, to make ends meet will be a daily challenge. To some extent, just having one earner in a poor family could spell financial trouble.

So that, if you can recall, the Grameen Bank in Bangladesh came into being in 1974.  Purposely, to help women (mostly, wives) from poor families start their own home-based businesses by granting low-cost loans. Replicated by other countries like ours through credit cooperatives, this is, however, only addressing the need of a certain demographic.

Lest, we must forget, some wives prefer to keep their jobs to maintain or further improve their comfortable lives. To them, an organization recently launched in the country could be the answer. Australian government-backed, this Philippine-based SME-focused private debt investor has launched “SheSecure.” It is a funding program that is “aimed at supporting women entrepreneurs in building sustainable gender-equitable enterprises.”

ARQ SME Business Development Co. (ARQ SME BDC), the firm, said that “SheSecure is a gender lens investment product aimed at financing the working capital needs of women-owned and women-led small businesses in the Philippines.” The program offers “financing of up to P30 million per enterprise together with interest incentives tied to improvements in gender equality practices.” The funds can be used by the enterprise “to fuel expansion, invest in new technologies, or support their working capital requirements,” it added. 

The idea is not new though as Nigeria already had SheSecure in 2017. However, it only focused on cyber security. Probably, this initiative in the country could be several notches better than that of Nigeria’s and the Grameen Bank. The funding support is huge and women can choose whatever businesses that might interest them. 

Initiatives like these though are already proliferating throughout the globe. For instance, right after the pandemic subsided, a digital marketplace called West Tenth was established. This is a digital marketplace that gives “women a platform to start and grow their home-based businesses.” Through its mobile app, “women can promote their businesses to others in the local community, then field inquiries and requests through the app’s integrated messaging platform, as well as, finalize transactions through in-app payments.”   

West Tenth’s goal is to “encourage this sort of entrepreneurship.” Or, “to help women understand that the many of the talents they’ve developed at home are, in fact, potential businesses.” These opportunities include “home-based bakers and cooks, photographers, home organizers or designers, home florists, baby sleep consultants, party planning and event services, crafting classes, fitness training, homemade goods, and more.”

Education is also a key component in this platform. At a certain fee, “business owners will be able to attend bi-monthly events, including classes focused on the fundamentals of setting up home-based businesses, marketing, customer acquisition, and other topics.” With these, they can hear from “guest speakers who have experiences in the home-based business market, and they’ll be able to join mastermind networking groups to exchange ideas with their peers.”

West Tenth is now catching fire in the USA.  In fact, it got seed funding from venture capitalists.  It may take time though to feel their presence here. But why should we wait for it.  The idea is there. Why won’t a local digital entrepreneur go for it?  Is it not a good complement for SheSecure?