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womenx 
Unleashing the Exponential Power 
of Women Entrepreneurs
2 
Meet Mariam 
Mariam operates a small catering business with 2 
employees. She wants to expand her business but she 
is unsure how to proceed to take it to the next level. 
Her limited contact with the business community forces 
her to rely on family for advice and support. 
Mariam does not have a bank account, and she cannot 
legally open one in her own name without her husband’s 
permission. She thinks that borrowing even a small sum 
to expand her business is too risky and she doubts that a bank 
would seriously consider her for a loan. 
Unequal economic participation by 
women remains an impediment to growth 
Hundreds of millions of people don’t have jobs today-- and so 
they miss out on the most important pathway out of poverty. 
Entrepreneurs can start Small and Medium-Sized Enterprises 
(SMEs) that create jobs, but they often face limited access 
to capital, a lack of skill-building opportunities, and a hostile 
climate for investment. Women entrepreneurs are at a greater 
disadvantage than men, because gender-biased obstacles 
against start-up companies threaten their success. Female-owned 
firms are as much as 10 percent smaller and 6 percent 
less productive than firms owned by men. 
Women-led businesses face severe obstacles: 
ƒƒFor every woman entrepreneur in the Middle East and 
North Africa, there are six women who want to 
start a business but do 
not. 
ƒƒ 80 percent 
of women 
entrepreneurs 
in sub- 
Saharan 
Africa 
operate 
in low-product-ivity 
sectors. 
ƒƒFemale-owned firms are 7 percent to 10 percent 
smaller and their workers are about 6 percent less 
productive than businesses owned by men.1 
ƒƒWomen managers have fewer years of 
experience running a business and they are more 
likely to engage in home-based enterprises. 
ƒƒWomen globally have smaller and less-diverse 
networks and they are less likely to seek advice 
and broaden their networks. 
ƒƒWomen worldwide have a greater fear of failure 
and lower confidence in their entrepreneurial abilities 
than men.2 
ƒƒMore than 200 million women live in countries where 
they need their husband’s permission to start 
a business.3 
ƒƒ70 percent of women do not have a bank account 
in their own name and less than 5 percent of SME loans 
go to women-owned businesses. 
womenx: Empowering Women’s 
Entrepreneurial Ecosystems 
The World Bank is launching an innovative program to support 
women entrepreneurs. The program will provide practical 
business education to address knowledge gaps. It will help 
women entrepreneurs strengthen their networks to connect 
1 Enterprising Women: Expanding Economic Opportunities in Africa, 
Hallward-Driemeier, Mary, World Bank, 2013 
2 Global Entrepreneurship Monitor Report, 2013 
3 Women Business and the Law 2014 
813 
million women 
in developing countries 
are just like Mariam. 
They have the potential to 
contribute more fully 
to their countries’ 
economies.
3 
to supply chains and new markets. It will match women with 
mentors to build their confidence, and it will help them take 
advantage of financial services to get the capital they need 
to expand their firms. 
womenx graduates will increase their businesses’ 
productivity and revenue; will create jobs (especially for other 
women); and will have greater confidence, stronger support 
networks, and a healthier appetite to take risks and seek new 
opportunities for growth. 
womenx: How it works 
womenx works with local institutions to provide practical 
business education. Knowledge gaps in enterprise 
management and growth are tackled and tested through 
innovative delivery mechanisms. womenx is already 
evaluating the potential contribution of distance learning in 
reaching women entrepreneurs in Nigeria. 
womenx offers networking and mentoring to give 
women entrepreneurs the confidence and guidance to pursue 
enterprise growth. For example, womenx is providing 
access to new markets through linkages, along with access to 
global supply chains and networking with large corporations 
and SMEs. 
By focusing on access to finance, womenx creates 
linkages between financial institutions and women 
entrepreneurs. In Pakistan, the womenx program is 
working with the country’s Central Bank to ensure that a 
woman does not need her husband’s permission to take 
out a loan from a bank or microfinance institution, and with 
commercial banks to 
develop strategic 
outreach 
programs for 
women. 
In addition, 
womenx 
works with 
governments 
to foster legal 
and policy 
reforms and 
innovative public policy 
approaches to bring new 
entrants into the market and level the legal playing 
field for women-owned businesses using tools like the 
Women Business and the Law report. For example, in the 
Democratic Republic of Congo, the World Bank is 
working with the government to ensure that a woman does 
not need her husband’s permission to sign a contract, 
open a bank account, register a business, or initiate court 
proceedings. 
womenx is also helping to identify reforms in public 
procurement regulations and processes that would encourage 
more women to compete for government contracts. 
womenx: Achieving Tangible Results 
womenx seeks to expand the reach of the World Bank 
Group’s support to women entrepreneurs to generate stronger 
economic growth. The key criteria of success include the 
number of women entrepreneurs who are reached through 
advice and financing, as well as the growth of their businesses 
as measured by profitability and job creation. 
For every one 
woman entrepreneur 
in the Middle East and 
North Africa, there are 
six women who 
want to start a 
business 
but do not.
4 
The design of womenx incorporates rigorous monitoring and 
evaluation (M&E) mechanisms to maintain detailed data on 
participants and service delivery. Data is collected before the 
start of each program and data collection continues at regular 
intervals throughout the life of the program. Feedback from 
participants on the relevance, quality and usefulness of all the 
components of the initiative is also solicited and fed back into 
the program design. 
In addition, womenx evaluates the innovative approach 
of bundling services for women entrepreneurs, aiming to 
identify precisely the mechanisms and instruments that have 
the greatest impact on the enterprise performance of women 
entrepreneurs. 
womenx: Global Multi-donor Trust 
Fund 
womenx is setting up a $100 million multi-donor trust fund. 
Resources will support country projects, with a particular focus 
on the potential for scaling up businesses and linking to global 
supply chains. Selection criteria will include strong links to 
lending projects around access to finance, entrepreneureship or 
competitive industries. 
Strategic guidance and vision for womenx is provided by an 
Advisory Board composed of World Bank management, trust 
fund donors and program partners. 
A Secretariat composed of regional and technical experts 
manages the program and maintains oversight of the funding. 
What does success look like? 
ƒƒProvide 100,000 women with valuable business education 
ƒƒ Improve productivity in women-led enterprises, aiming to 
achieve a 10 percent increase in productivity and revenue 
ƒƒCatalyze and leverage over 600 million in bank lending for 
women entrepreneurs 
ƒƒBuild a pipeline of high-potential women entrepreneurs 
who are qualified to gain access to formal financing – 
aiming to make participants three times more likely than 
non-participants to use financial services 
ƒƒGenerate jobs created by and for women - aiming for a ten 
percent increase in the number of jobs created 
ƒƒBuild sustainable, global communities of women 
entrepreneurs who can provide mentoring and networking 
opportunities 
ƒƒOvercome legal, regulatory and policy barriers that hold 
back women in 
business 
womenx partners with Women 
Business and the Law: 
Women, Business and the Law analyzes 
legal differences on the basis of gender 
in 143 economies, covering seven 
areas: gaining access to institutions, 
using property, getting a job, providing 
incentives to work, building credit, 
going to court, and protecting women 
from violence. 
The latest edition of Women, Business 
and the Law measured 48 legal changes 
in 44 economies to increase women’s 
economic opportunities. 
For more information, 
please contact 
Mehnaz Safavian 
Program Lead 
msafavian@worldbank.org 
+1 202 473 1619

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Women x entrepreneurs-power-feb2014-final

  • 1. womenx Unleashing the Exponential Power of Women Entrepreneurs
  • 2. 2 Meet Mariam Mariam operates a small catering business with 2 employees. She wants to expand her business but she is unsure how to proceed to take it to the next level. Her limited contact with the business community forces her to rely on family for advice and support. Mariam does not have a bank account, and she cannot legally open one in her own name without her husband’s permission. She thinks that borrowing even a small sum to expand her business is too risky and she doubts that a bank would seriously consider her for a loan. Unequal economic participation by women remains an impediment to growth Hundreds of millions of people don’t have jobs today-- and so they miss out on the most important pathway out of poverty. Entrepreneurs can start Small and Medium-Sized Enterprises (SMEs) that create jobs, but they often face limited access to capital, a lack of skill-building opportunities, and a hostile climate for investment. Women entrepreneurs are at a greater disadvantage than men, because gender-biased obstacles against start-up companies threaten their success. Female-owned firms are as much as 10 percent smaller and 6 percent less productive than firms owned by men. Women-led businesses face severe obstacles: ƒƒFor every woman entrepreneur in the Middle East and North Africa, there are six women who want to start a business but do not. ƒƒ 80 percent of women entrepreneurs in sub- Saharan Africa operate in low-product-ivity sectors. ƒƒFemale-owned firms are 7 percent to 10 percent smaller and their workers are about 6 percent less productive than businesses owned by men.1 ƒƒWomen managers have fewer years of experience running a business and they are more likely to engage in home-based enterprises. ƒƒWomen globally have smaller and less-diverse networks and they are less likely to seek advice and broaden their networks. ƒƒWomen worldwide have a greater fear of failure and lower confidence in their entrepreneurial abilities than men.2 ƒƒMore than 200 million women live in countries where they need their husband’s permission to start a business.3 ƒƒ70 percent of women do not have a bank account in their own name and less than 5 percent of SME loans go to women-owned businesses. womenx: Empowering Women’s Entrepreneurial Ecosystems The World Bank is launching an innovative program to support women entrepreneurs. The program will provide practical business education to address knowledge gaps. It will help women entrepreneurs strengthen their networks to connect 1 Enterprising Women: Expanding Economic Opportunities in Africa, Hallward-Driemeier, Mary, World Bank, 2013 2 Global Entrepreneurship Monitor Report, 2013 3 Women Business and the Law 2014 813 million women in developing countries are just like Mariam. They have the potential to contribute more fully to their countries’ economies.
  • 3. 3 to supply chains and new markets. It will match women with mentors to build their confidence, and it will help them take advantage of financial services to get the capital they need to expand their firms. womenx graduates will increase their businesses’ productivity and revenue; will create jobs (especially for other women); and will have greater confidence, stronger support networks, and a healthier appetite to take risks and seek new opportunities for growth. womenx: How it works womenx works with local institutions to provide practical business education. Knowledge gaps in enterprise management and growth are tackled and tested through innovative delivery mechanisms. womenx is already evaluating the potential contribution of distance learning in reaching women entrepreneurs in Nigeria. womenx offers networking and mentoring to give women entrepreneurs the confidence and guidance to pursue enterprise growth. For example, womenx is providing access to new markets through linkages, along with access to global supply chains and networking with large corporations and SMEs. By focusing on access to finance, womenx creates linkages between financial institutions and women entrepreneurs. In Pakistan, the womenx program is working with the country’s Central Bank to ensure that a woman does not need her husband’s permission to take out a loan from a bank or microfinance institution, and with commercial banks to develop strategic outreach programs for women. In addition, womenx works with governments to foster legal and policy reforms and innovative public policy approaches to bring new entrants into the market and level the legal playing field for women-owned businesses using tools like the Women Business and the Law report. For example, in the Democratic Republic of Congo, the World Bank is working with the government to ensure that a woman does not need her husband’s permission to sign a contract, open a bank account, register a business, or initiate court proceedings. womenx is also helping to identify reforms in public procurement regulations and processes that would encourage more women to compete for government contracts. womenx: Achieving Tangible Results womenx seeks to expand the reach of the World Bank Group’s support to women entrepreneurs to generate stronger economic growth. The key criteria of success include the number of women entrepreneurs who are reached through advice and financing, as well as the growth of their businesses as measured by profitability and job creation. For every one woman entrepreneur in the Middle East and North Africa, there are six women who want to start a business but do not.
  • 4. 4 The design of womenx incorporates rigorous monitoring and evaluation (M&E) mechanisms to maintain detailed data on participants and service delivery. Data is collected before the start of each program and data collection continues at regular intervals throughout the life of the program. Feedback from participants on the relevance, quality and usefulness of all the components of the initiative is also solicited and fed back into the program design. In addition, womenx evaluates the innovative approach of bundling services for women entrepreneurs, aiming to identify precisely the mechanisms and instruments that have the greatest impact on the enterprise performance of women entrepreneurs. womenx: Global Multi-donor Trust Fund womenx is setting up a $100 million multi-donor trust fund. Resources will support country projects, with a particular focus on the potential for scaling up businesses and linking to global supply chains. Selection criteria will include strong links to lending projects around access to finance, entrepreneureship or competitive industries. Strategic guidance and vision for womenx is provided by an Advisory Board composed of World Bank management, trust fund donors and program partners. A Secretariat composed of regional and technical experts manages the program and maintains oversight of the funding. What does success look like? ƒƒProvide 100,000 women with valuable business education ƒƒ Improve productivity in women-led enterprises, aiming to achieve a 10 percent increase in productivity and revenue ƒƒCatalyze and leverage over 600 million in bank lending for women entrepreneurs ƒƒBuild a pipeline of high-potential women entrepreneurs who are qualified to gain access to formal financing – aiming to make participants three times more likely than non-participants to use financial services ƒƒGenerate jobs created by and for women - aiming for a ten percent increase in the number of jobs created ƒƒBuild sustainable, global communities of women entrepreneurs who can provide mentoring and networking opportunities ƒƒOvercome legal, regulatory and policy barriers that hold back women in business womenx partners with Women Business and the Law: Women, Business and the Law analyzes legal differences on the basis of gender in 143 economies, covering seven areas: gaining access to institutions, using property, getting a job, providing incentives to work, building credit, going to court, and protecting women from violence. The latest edition of Women, Business and the Law measured 48 legal changes in 44 economies to increase women’s economic opportunities. For more information, please contact Mehnaz Safavian Program Lead msafavian@worldbank.org +1 202 473 1619