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Intro: Why Women Empowering Women?

Updated: Jun 24, 2020

Women empowerment is critical to improving a nation’s economy and eventually, boosting global prosperity.

Several case studies have proven how companies can benefit from investing in women as employees, entrepreneurs, customers, and community partners, from broadening the talent pool to increasing productivity and reaching new markets. Governments around the world has also realized the benefits of women’s empowerment. For instance, Australian Government catalyzes inclusive economic growth through women’s economic empowerment as it is not only a fundamental aspect of promoting gender equality, but also vital to enhance business competitiveness, fuel inclusive economic growth and build equitable societies.

In Malaysia, the female labor force participation stands at only 55.2% while the male participation is at 80.4%. In terms of SMEs ownership, only 20.6% are women-owned. This indicates that women represent a large untapped resource for Malaysia, and if all economic barriers are removed for women, the World Bank predicts that Malaysia’s income per capita could grow by 26.2%.

Challenges towards women-owned businesses

Several studies have shown that women-owned businesses are more likely to fail than men due to gender inequality that contributes to the following challenges:

· Weak social support

· Limited access to financial networks

· Lack of confidence

· Inadequate business and legal knowledge

· Limitations from having to combine household and family care responsibilities

Malaysian women entrepreneurs are recognized to play a significant role in the growth of SMEs in Malaysia, and ultimately Malaysia’s economy. With the current change in economic landscape, it is predicted that women’s involvement in entrepreneurship will continue to grow. Thus, Malaysian Women Empowering Women (MyWeW) is formed by a group of empowered women in Malaysia to empower other women by facilitating to overcome these challenges using innovative approaches, to improve women’s economic participation and to influence the enabling environment to promote women’s empowerment in Malaysia.


Sources:

  1. IFC, “Investing in Women: New Evidence for the Business Case,” 2017, 1–74.

  2. “Impact Investing | Investing in Women,” accessed June 14, 2020.

  3. “Malaysia Benefits by Investing in Women | The Star,”.

  4. “Department of Statistics Malaysia Official Portal,”.

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