Every year, large corporations and governments spend trillions of dollars on products and services — with all of this money holding the potential to lift and empower those businesses receiving it. Yet only 1% of this money goes to businesses that are owned by women.
Yes — you read that right. Just 1%.
It goes without saying — this is not due to a lack of female entrepreneurs. Around the world, millions of women are poised to enter global value chains — they just need the opportunity to do so.
Giving women an equal chance to be entrepreneurs is key to growing economies, decreasing poverty and promoting gender equality worldwide. The lack of parity in how governments and corporations are currently directing their resources is holding everyone back, and is a key barrier to ending extreme poverty by 2030.
The statistics prove it — women reinvest the majority of their income back into their families and communities. This means that increasing women’s economic opportunity and income directly reduces poverty. But in order for women to enter global supply chains and fully participate in the economy, we need influential global companies to set a precedent.
Call on governments and large corporations around the world to source more products and services from women-owned businesses, especially in developing countries.