Three ways banks can attract more women customers
Three ways banks can attract more women customers

Narrowing the global gender gap could add $12 trillion in annual global gross domestic product by 2025. In Latin America and the Caribbean, access to finance for women-led companies is a key driver of this gap. Two out of five small and medium-sized businesses in the region are owned or managed by women, yet 70% of them still have unserved or underserved credit needs. Despite this discrepancy, there is an overwhelming sense of optimism: more than two thirds of active, early-stage women entrepreneurs are opening businesses because they see clear opportunities, not out of necessity.

Women’s Entrepreneurship Day: Smart companies, pay attention
Women’s Entrepreneurship Day: Smart companies, pay attention

On November 19, 2014, the United Nations launched Women’s Entrepreneurship Day. This day reminds me of a newspaper article I read eight years ago that changed my life. It stated that, although more Jamaican women (70 percent) than men were graduating from higher education institutions, they had a significantly higher unemployment rate -15.6percent and 5.7 percent respectively-. As a Jamaican woman then working her way through university, it marked my professional path forever.

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Financing for Women Entrepreneurs, Key for Economic Recovery

Support for the sizeable number of women entrepreneurs in Latin America and the Caribbean must include a gender perspective to achieve economic recovery. This implies either specific funding or collateral programs to lower risks for financial institutions.