Transforming opportunities for women entrepreneurs

Countries at all stages of development have recognized that small and medium enterprises (SMEs) are a dynamic engine for economic growth, and SME competitiveness programs are the centerpieces of many economic development initiatives. Studies show that women entrepreneurs are vital to economic growth in general and SME development in particular; they constitute more than 40% of the economically active population worldwide (Tran-Nguyen & Zampetti, 2004, p. 18). Analyses of several countries have even argued that each country’s economic development is “as much female-led as it is export-led” (Tran-Nguyen & Zampetti, p. 33). Yet despite the importance of women workers and entrepreneurs to economic growth, women employees receive lower pay than do men, even for the same work, and women entrepreneurs are often marginalized in the informal sector. Although activities to promote women-owned enterprises help provide women with crucial sources of income, they rarely generate the large income increases that are necessary to carry women—and their families—out of poverty. This article discusses three of the most common approaches to assisting women entrepreneurs and analyzes a new approach conducted by the e-BIZ project in Macedonia.