{"id":42739,"date":"2016-11-07T14:18:40","date_gmt":"2016-11-07T19:18:40","guid":{"rendered":"https:\/\/staging21.finca.org\/uncategorized-en-ca\/women-mean-business"},"modified":"2023-12-12T06:04:47","modified_gmt":"2023-12-12T11:04:47","slug":"women-mean-business","status":"publish","type":"post","link":"https:\/\/finca.org\/en-ca\/women-mean-business","title":{"rendered":"Women Mean Business"},"content":{"rendered":"<p>In the battle of sexes, men may seem to have the upper hand. More men than women hold positions of leadership. And when both men and women are in the same position at work, men typically earn more.<\/p>\n<p>But there\u2019s one area where women may prove to have an edge \u2013 and it\u2019s probably one you haven\u2019t heard of. When women have the opportunity to run their own businesses, even in the developing world, many of them are more profitable and efficient than those run by men.<\/p>\n<p>This isn\u2019t a surprise to me. For over a decade at FINCA, I\u2019ve seen firsthand how poor women toil day and night to provide for their families and reinvest their remaining profits into their small businesses. At FINCA, we provide financial services to millions of low-income entrepreneurs \u2013 especially women \u2013 so that they can grow their businesses, increase their assets and improve their lives.<\/p>\n<p>By targeting female entrepreneurs, we are not just helping the women themselves, but also their families, communities and economies to flourish. It is a sentiment that has been echoed in <a href=\"http:\/\/www.mckinsey.com\/global-themes\/employment-and-growth\/realizing-gender-equalitys-12-trillion-economic-opportunity\">recent studies<\/a> which have shown that by investing in women and increasing their involvement in the workplace globally, the world\u2019s GDP could grow by $12 trillion.<\/p>\n<p><iframe class=\"lazyload\" data-src=\"https:\/\/www.youtube.com\/embed\/P-yh4tTiwMI?feature=oembed\" title=\"Achieving Financial Inclusion through Agent Banking\" width=\"500\" height=\"281\"  frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>This idea that women are more efficient and profitable business owners was recently tested through a small <a href=\"http:\/\/www.ifc.org\/wps\/wcm\/connect\/region__ext_content\/ifc_external_corporate_site\/sub-saharan+africa\/priorities\/financial+inclusion\/za_ifc_partnership_financial_inclusion_publications\">IFC study on FINCA\u2019s banking agents<\/a>. In 2012, FINCA launched <a href=\"https:\/\/finca.org\/blogs\/agency-banking-drc\">agency banking<\/a> in the Democratic Republic of Congo. Agency banking utilizes a network of local merchants and shopkeepers, in areas where FINCA usually doesn\u2019t have a bank branch, to provide basic banking services. The agents are equipped with POS machines, a portable device that connects to bank accounts through biometric fingerprints. The IFC study sought to determine whether there was any difference between female and male banking agents in two areas: as business owners and as banking agents.<\/p>\n<p>Surveying over 140 women, the researchers found that despite having overall lower cost products and services to sell, the female business owners make higher quantity sales and are able to bring in 16% higher net weekly profits than men.\u00a0 The women were also more likely to be in low-income areas, placing even more significance on the fact that they were able to bring in more profit with a lower income clientele.<\/p>\n<blockquote><p>\u201cWomen seem to be more entrepreneurial,\u201d the report argues, \u201csince they put more money back into their business inventory rather than keeping it on a bank account which yields little interest.\u201d<\/p><\/blockquote>\n<p>As agents, the report writes, \u201cwomen do a better, more efficient job compared to men.\u00a0 Not only do female agents transfer higher volumes per FINCA transaction, they also, on average, report 12% more FINCA transactions per month than male agents.\u201d<\/p>\n<p>These statistical \u201cwins\u201d are crucial to show that women can be trusted to run successful, efficient, productive businesses. But they also underlie an important contradiction with women in business. Despite that fact that women are equally or even more proficient as business owners, we do face greater barriers. In the Democratic Republic of Congo, these challenges are pronounced. Married women, for example, need spousal permission to have a job, sign a contract or open a bank account. When women do become business owners, access to credit can be a major roadblock. In fact, the average credit for men-owned businesses is 29% higher than female-owned businesses.<\/p>\n<p>Opportunity, then, becomes the catalyst for change. The thousands of FINCA female agents on the ground in the DRC not only prove how well women can run businesses well but that they can play a necessary and important role in helping other women gain an upper hand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new study shows that female FINCA banking agents in the Democratic Republic of Congo make more sales and higher profits than their male counterparts.<\/p>\n","protected":false},"author":392,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[151],"tags":[103,28,97],"class_list":["post-42739","post","type-post","status-publish","format-standard","hentry","category-blog-en-ca","tag-fincas-voices-en-ca","tag-fintech","tag-womens-empowerment-en-ca"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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