One of the best ways to jump-start
a sluggish economy is to empower women. Numerous studies done by the
World Bank, the investment bank Goldman Sachs, the World Economic Forum,
universities, think tanks and corporations, have concluded that investing in
women is enormously profitable.
As Secretary of State Hillary
Rodham Clinton put it:
"The evidence should be clear to everyone by now:
countries that include women are more economically competitive. Businesses
owned by women make considerable contributions to their national economies. But
too often, their growth is limited by unfair, unequal barriers."
All too frequently, businesswomen
face barriers that undermine their ability to start or to expand their
business. Some women can’t inherit property or businesses owned by their
fathers or husbands. Some don’t have the power to confer citizenship on their
children, making it difficult to find housing and work, and schools for their
children. Some are even subject to different taxes than men, and are denied
access to banking services such as credit, bank accounts, signing contracts,
purchasing property, incorporating a business, or filing lawsuits without a
male guardian.
Many women entrepreneurs also find
it difficult to access markets, training, mentors, and technology. They
struggle with discriminatory laws and regulations or practices structured
specifically to hinder women.
The laws and practices that
propagate gender inequality also hinder prosperity. In Sub-Saharan
Africa, closing gender inequality between 1960 and 1992 could have doubled
economic growth over that time period. By limiting women's ability
to join the workforce, southeast Asia is losing approximately $42 to $47
billion annually, and another $16 to $30 billion as a result of gender gaps in
education.
Simply put, gender inequality is
hurting world economies. The United States believes that any country that
desires to diminish its financial woes should empower its women and girls, and
help female entrepreneurs flourish.
"The United States is committed to
advancing opportunities for women as entrepreneurs and business leaders,"
said Secretary of State Clinton. "We view it as both a moral
and strategic imperative for the 21st century. That’s why we are helping women
entrepreneurs with business training and mentoring; and support policies that
improve women’s access to finance, technology, and networks."
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