November 20th, 2015 -- The UN celebrates as Women globally take center stage on the 19th of November 2015 during Women Entrepreneurship Day (WED), with events and awareness programmes aimed at celebrating and empowering women to start and scale their businesses, and discussions focus on the untapped potential of women in entrepreneurship.
St. Kitts and Nevis is no exception.. Here are some reasons why:
- Gender gap affects economic growth: It is know that women entering the workforce is a prime driver of economic growth. According to a recent Infodev/World Bank Study, only 8% of women in the Caribbean are self-employed as opposed to 19% of Men, this gender gap is significant. This means that in the Caribbean, less than half of women are likely to start a business than their male counterparts. What is more disturbing is that of the 8%, only 1% are growth oriented and have employees. This discrepancy means that we are failing to unleash a wealth of ingenuity and creativity that can spark a new era of entrepreneur-led growth and job creation.
- Women are key in accelerating private sector growth: contrary to the preconceived notion that women have fewer of the skills needed to succeed as entrepreneurs, there are several pieces of research indicating that Women entrepreneurs are equally or more ambitious than men when it comes to starting and scaling-up businesses, despite encountering more barriers and that an increase in the number of women in business leadership positions correlates with increased business returns and payout ratios.
- The strategies to promote women’s entrepreneurship are different than for other demographic groups: beyond stereotypes about their abilities, women face unique challenges that prevent them from becoming successful entrepreneurs, such as a scarcity of mentors. Nearly half of women entrepreneurs state that a challenge facing their business is the lack of available mentors. Mentorship plays an important role in developing successful entrepreneurs, for both men and women. If women are unable to find mentors, they may fail to reach their full entrepreneurial potential.
To celebrate the day, local entrepreneur and the designated St. Kitts and Nevis Women Entrepreneurship Day (WED) Ambassador, Ms. Telly Onu, will be engaged on a number of outreach activities under the theme “InnovateHER:Unite~Ignite~Expedite” to raise awareness on the importance of empowering women and to promote the infoDev/World Bank Group’s "8 month" Peer Mentoring Acceleration Programme which is designed to bridge the gap and help established women-owned businesses scale their businesses, as part of her continued mission to support women entrepreneurs in 2016. These women entrepreneurs will gain access to new insights into best practices and strategies for growth and expansion.
Kittitian and Nevisian women applying for the InfoDev/World Bank and Canadian Government funded Business Acceleration Peer Mentoring programme will also have access to a one (1) month blended Training and Coaching Programme with specialized modules on Fostering International Networking and Strategic Alliances for Growth Oriented Women and Alternative fundraising techniques e.g crowdfunding & investor readiness sponsored by Quintessence Consulting Inc.
Ms. Onu indicated that she is honoured to be selected as one of the seventeen Caribbean WED Ambassadors and has received endorsement from the founder of the WED movement, Ms. Wendy Diamond (see video link- https://vimeo.com/146207994 ) and the Caribbean Regional Leader and Jamaican Ambassador, Ms. Cecile Watson.
As the Country’s Ambassador, Onu's goal will be to raise awareness on WED – its aims, activities and results.
For more details on the World Entrepreneurship Day, Join Us In Support of Women's Entrepreneurship Day/#WomenWOW
Visit our Facebook page at WED St. Kitts & Nevis or Our website at http://womenseday.org and for details on how to participate in the World Bank Funded Peer Mentoring Programme visit www.empowher.biz and http://www.infodev.org/press-releases/caribbean-women-entrepreneurs Or Apply directly here.
*Please Note, Application Deadline ends on the 27th of November, 2015
About WED
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