Empowering women has had tremendous effects on economic development and social prosperity. Studies have found that women invest 90% of their income in their families1. This encouraged many non-profit organizations like the Cherie Blair Foundation for Women (CBFW) to focus on helping women join the workforce.
The hardest part of starting a business is to find the right network, capital and the necessary skills. Unfortunately, women in underdeveloped parts of the world usually lack all of the three. Women’s social capital (network) is limited due to the restrictions that the society imposes on women. Financial capital is also hard to access mainly because the economy doesn’t support a strong structure that women can utilize to get loans for their businesses. Lastly, women have a hard time acquiring the necessary technical and business skills because of the scarcity of educational institutions and support for women.
Through CBFW, women entrepreneurs in developing countries can utilize the support system that addresses the issues listed above. CBFW uses organizational partnerships to solicit women entrepreneurs who have a track record of success, but lack the resources to sustainably grow their businesses. These women participate in the Enterprise Development Program to get tailored business training and access to financial capital. Women entrepreneurs become financially independent while creating jobs for the community and supporting their families – a win-win for the women and the economy.
CBFW asks everyone who can contribute in any way to get involved in CBFW projects and help women entrepreneurs in underdeveloped countries become independent. For more information, visit http://www.cherieblairfoundation.org/get-involved/.
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