Women entrepreneurs face financing hurdles

Staff Correspondent

3 September, 2020 12:00 AM printer

Women entrepreneurs face financing hurdles

Almost 99 percent of women-led small, medium enterprises (SMEs) face huge barrier in access to adequate finance, speakers at a dialogue said on Wednesday.

They made the remark at a virtual dialogue on ‘Investing in Women-Led Businesses’ organised by United Nations Development Programme (UNDP). 

Speaking on the occasion, David Soukhasing, Managing Director of ANGIN, said that there is a gradual change in the women entrepreneurs’ mentality where they want to be treated fairly and receive special treatment.

This applies to 1 percent of the developed technology-driven businesses, he said.

“Investing in women entrepreneurs is such a broad topic, and we have to create different types of segments of women entrepreneurs. As a result, majority of these SMEs face challenges in availing funding,” he added.

While addressing the dialogue, Caroline McLaughlin, Chief Partnership Officer of AVPN, said that communicating with the investors is a significant challenge for the women entrepreneur because investees are not familiar with the convincing language to persuade the investors.

“It is important to build a proper bridge between suppliers and capital seeker and create a pipeline to ease the funding process,” said Caroline.

Women-led businesses need to fulfill the investors' criteria, and the best way to achieve this goal is to consult with the investees and help them understand the set requirements to avail the funds available for them, said the Chief Partnership Officer of AVPN.

Brook Horowitz, Business Integrity Advisor, UNDP, presided over the dialogue.

Ruenvadee Suwanmongkol, Secretary General of Securities and Exchange Commission (SEC), Thailand, and Christabel Randolph, Director of Legal and Corporate Affairs of Marico Bangladesh Limited, among others, also spoke at the dialogue.