When we picture engines of economic growth and job creation, we tend to think of large multinational companies and global brands. Yet, in emerging and developing economies, it is primarily micro, small, and medium-sized businesses that play this critical role. Small and medium-sized businesses represent around 90 percent of all businesses worldwide, and account for more than half of global employment. In developing countries, these businesses are critical to economic diversity and poverty reduction, creating jobs that provide not just incomes but also purpose and dignity for people within their local communities. Yet many small businesses in developing countries remain cash deprived and undeveloped – especially those led by women. Too many women are excluded from traditional financial channels, limiting their ability to hire and innovate. The financing gap for women-led businesses globally remains in the trillions of dollars. But even when they can access ...
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