Why access to markets for women entrepreneurs is a global challenge

A new report from the National Women’s Business Council in Washington suggests that the challenge for women entrepreneurs to access key markets is not just a problem facing Africa’s women business builders. It’s a global problem. The report’s findings suggest that women-owned businesses are a major component of the U.S. economy, accounting for around 20 percent of all businesses with paid employees and a combined payroll of $293.1 billion. Yet, the obstacles they face in accessing financial capital and customer markets is a real barrier to growth - this will definitely ring a bell with Africa’s women entrepreneurs. So what’s the problem and how does change happen to improve the situation? Jen Earle, CEO of the National Association of Women Business Owners points to the fact that more research is needed on the economic variables that affect this access, such as the effect of export credit insurance on women-owned businesses’ ability to access foreign markets, or a lack of confidence or practical knowledge of doing business in new markets, or dearth of information on companies’ supplier diversity programs in relation to women-owned businesses. By highlighting the challenges and backing this up by solid research, the right supportive environment can be created to address this access issue.