Makes economic sense to empower businesswomen
THE CASE for giving womenowned businesses a greater slice of the economic pie goes beyond issues of gender equality and other populist notions.
The reality is that women business owners generally bring a different skills set to the management of their enterprises that more often than not results in their early success, growth and sustainability.
These include empathy, a more innovative problem solving approach, the ability to stretch their limited capital resources and novel negotiating tactics.
The emergence of women owned enterprises (WO-Es) as a catalytic force to enhance transformation and accelerate growth in local economies in particular cannot be ignored.
The adage that “behind every successful man is a woman” is being pushed aside: increasingly women are emerging from the shadow of a husband/CEO/HOD to take the lead confidently and competently.
Chambers are well placed to support and amplify this trend to the benefit of their local economies by:
Explicitly including the promotion and support of WO-Es in their broader economic transformation goals.
Fostering and forging partnerships with stakeholders that provide support and funding.
Actively promote the breakdown of barriers between “established business interests” and WO-Es.
Sourcing and sharing information that can benefit this sector.
Diversifying their membership base by targeting WO-Es.
Encourage participation by WO-Es in chamber structures
Establishing linkages with Businesswoman Organisations. Similarly, local and district municipalities can, and should contribute by: Ensuring their procurement policies and SCM processes actively encourage and promote the participation of WO-Es.
Building strong relationships with provincial and national departments that focus on women's issues to leverage funding and support opportunities.
Developing business support incentives that favour and encourage WO-Es.
It must be acknowledged that some laudable initiatives are emerging to underpin and support this trend: I was privileged to attend the launch of SEDA’s Woman Enterprise Coaching Programme (WECP) in the Ugu District recently. This is an intensive 10 module business development course that will cover all areas of business management. Some startling statistics were shared with us about the achievements of the programme in other districts, and we look forward to the replication of those success stories in our region.
Naidoo is president of the South Coast Chamber of Commerce and Industry. Contact him at 039 682 0235 or e-mail at president@sccci.org.