On the 17th of July, 2023, a momentous event took place at Syon House, London, where the Cherie Blair Foundation celebrated the astounding success of its “100,000 Women Campaign.” This incredible initiative, which ran from 2019 to 2022 in collaboration with partners, raised over £10 million and directly supported 100,274 women entrepreneurs in 90 low and middle-income countries, including Nigeria, South Africa, and Kenya. The remarkable achievement showcased the transformative power of empowering women through entrepreneurship.
At this momentous gathering, I had the honour of addressing the audience, having personally experienced the benefits of the foundation’s Road-To-Growth Programme and now serving as a mentor. In my passionate call to action, I urged attendees to support more women entrepreneurs, particularly through the Cherie Blair Foundation.
Witnessing the remarkable work the foundation does, I reminded everyone that with the right knowledge, tools, and mindset, financial empowerment is within everyone’s grasp, a message strongly emphasised by our financial literacy organisation, Smart Stewards, and not-for-profit, FRUIT Foundation.
The significance of supporting women entrepreneurs cannot be overstated. A 2020 McKinsey’s research revealed a staggering statistic: despite constituting 50 percent of the global working-age population, women generated only 37 percent of global GDP. However, another McKinsey report also indicated that achieving progress towards gender equality could add a staggering $12 trillion annually to the global GDP by 2025. This indicates that investing in women-led businesses can not only drive economic growth but also unleash unprecedented potential for societal development.
Entrepreneurship provides a platform for women to unleash their creativity, innovation, and leadership skills. By nurturing their entrepreneurial ambitions, we empower women to become change-makers in their communities and beyond. When women entrepreneurs succeed, they reinvest in their families, create jobs, and contribute to the economic upliftment of their societies, breaking the cycle of poverty and fostering sustainable development.
Moreover, supporting women entrepreneurs aligns with the United Nations Sustainable Development Goals (SDGs), particularly Goal 5, which aims to achieve gender equality and empower all women and girls. By levelling the playing field for women in business, we can progress towards a more equitable society where talents are recognised, opportunities are accessible, and diversity drives progress.
The Cherie Blair Foundation’s success exemplifies the potential unleashed when women are provided with the necessary resources, mentorship, and guidance. It is incumbent upon governments, organisations, and individuals to rally behind such initiatives and actively contribute to the cause. By investing in women’s entrepreneurship, we sow the seeds of prosperity and uplift entire communities, helping to create a world where gender equality and economic growth go hand in hand.
HERE ARE 5 TIPS TO HELP WOMEN ENTREPRENEURS SUCCEED:
1. Build a Supportive Network: Surround yourself with like-minded individuals who understand and support your entrepreneurial journey. Seek out mentors, join business networks, attend industry events, and connect with other women entrepreneurs. A supportive network can provide valuable advice, feedback, and encouragement during challenging times.
2. Invest in Continuous Learning: Stay updated with industry trends, business strategies, and technological advancements. Continuous learning and skill development will not only enhance your expertise but also boost your confidence as an entrepreneur. Consider enrolling in workshops, online courses, or conferences to expand your knowledge base.
3. Embrace resiliency because there are often ups and downs in entrepreneurship. It is crucial to develop resilience and the ability to bounce back from setbacks. Use challenges as learning opportunities, stay flexible, and adapt to changing circumstances. A resilient mindset will help you persevere and achieve long-term success.
4. Seek and utilise Financial Resources: Access to capital is essential for any business to thrive. Research available funding options such as grants, loans, or investment opportunities tailored for women entrepreneurs. Create a solid business plan that outlines your financial needs and projections to attract potential investors or lenders.
5. Prioritise Work-Life Balance: Balancing personal and professional responsibilities is crucial for sustainable success. Establish clear boundaries between work and personal life, and make time for self-care and relaxation. Remember that maintaining a healthy work-life balance not only benefits your well-being but also enhances your productivity and creativity as an entrepreneur.
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By following these tips and leveraging their unique strengths and perspectives, women entrepreneurs can unlock their full potential and achieve remarkable success in their ventures.
As I look back on that evening and the encouragement I received from the esteemed attendees, including Sir Tony Blair and Mrs. Cherie Blair, I am further inspired to share this message of empowerment and transformation on a national stage. The success of the “100,000 Women Campaign” serves as a beacon of hope and a testament to what can be achieved when we unite to support women’s entrepreneurship.
Let us seize this momentum and work tirelessly towards a future where the full potential of women entrepreneurs is realised, propelling us towards a more inclusive and prosperous world for all.
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