Supporting women-owned businesses makes all those dreams a reality for the owner and the community in which they serve, especially when considering the many obstacles women face in the workforce, like access to affordable child care and fair access to capital. At Ntende Finance, we pride ourselves in supporting Women-Owned business and here are some of the reasons;
Empower Mothers and Underprivileged Women
Part-time entrepreneurship offers women with unpaid caregiving or other family responsibilities the flexibility of setting their own hours. Underprivileged women may supplement their incomes if they face employment discrimination. Don’t overlook local part-time entrepreneurs when considering how to support local business owners. Income from these micro-enterprises directly supports families in the different communities they serve.
Women excel at soft skills needed for businesses to thrive
While technical skilsl and knowledge are fundamental to career success, CEOs consistently cite soft skills as the most desirable professional attributes. Although characteristics like effective communication, empathy, and self-awareness are difficult to measure, they are highly valued and can make a real difference to the bottom line.
Soft skills and emotional intelligence may prove a key competitive advantage for women in business. A 2016 study found that women outperform men in 11 of 12 key emotional intelligence competencies. These competencies included emotional self-awareness, empathy, conflict management, adaptability, and teamwork—all essential skills for effective leadership in the workplace
Improve Women’s Financial Position
In 2017, women were 38 times more likely to live in poverty than men, and over a third of families headed by unmarried mothers lived in poverty. Thriving companies improve the financial position of women owners and pay the wages of employees. These are local women who spend this money in the community to improve their lives and the lives of their families. They can spend their money on nutritious meals, education and extracurriculars, and on supporting other local business owners.
Fund Business Growth
Women have less access to funding and investment for their businesses and they also face challenges in accessing business training and counseling. Supporting local women entrepreneurs allows them to reinvest in their businesses and training. Women entrepreneurs and small businesses use this money to expand their businesses which in turn promises further financial security, community involvement, and economic impact. We hope you will join us in shopping local and supporting women-owned small businesses this month and after.