The pandemic has been anything but business as usual for women entrepreneurs. review of new data by World Bank economists shows. This has raised concerns that COVID-19 could undo years of progress for women entrepreneurs. Setbacks from COVID-19 for women entrepreneurs in low- and middle-income countries have been severe.Unsurprisingly, this uneven support and uneven share of care have gone hand in hand with a greater risk of women-led businesses closing down, a
In every country, women and men alike need access to finance so that they can invest in their families and businesses. But today, 42% of women worldwide – about 1.1 billion – remain outside of the formal financial system, without a bank account or other basic tools to manage their money.
Poor financial access makes it harder for these women to get ahead, but it also holds back development in many countries. This is because women tend to invest more of their money in education, health care and children’s welfare. These priorities not only strengthen their families but also underpin a society’s long-term strength.
Walk around a major city in Sub-Saharan Africa and you will quickly realize that women are a highly visible part of the economy, selling all manner of products and services. In some ways, women are powering the economies of the continent to a greater degree than anywhere else in the world; Sub-Saharan Africa is the only region where women make up the majority of self-employed individuals.