Skills Improvement Foundation (SIF), recognizes the pressing need to address the gender disparity in entrepreneurship in Pakistan. Currently, women constitute a mere 1% of entrepreneurs compared to 22% of men. To tackle this issue, SIF is committed to establishing a Women-led Enterprise program that aims to empower and develop women-led microenterprises in both urban and rural areas.
The economic benefits of increasing women’s participation in microenterprises are significant. By providing women with skill-building opportunities, financial inclusion, digital literacy, access to safe spaces, mentors, markets, and financing, we can not only stimulate job growth but also combat the decreased participation of women in the workforce. It is essential to tap into the potential of women, who make up nearly half of the population, to contribute to economic activity and drive the country’s development.
According to the Pakistan Microfinance Network, the low access to formal credit and financial services is a significant obstacle for women entrepreneurs. Only 5% of women in Pakistan have access to formal credit, limiting their business growth prospects. By providing financial security and tailored microfinance options, SIF aims to bridge this gap and enable women to start and expand their small businesses. This aligns with the World Bank’s findings that women-owned micro, small, and medium-sized enterprises face a credit gap of $1.5 trillion globally.
Moreover, SIF recognizes the importance of technology in promoting women-led enterprises. Access to digital platforms and digital literacy are crucial for women entrepreneurs to compete in the modern business landscape. In Pakistan, where internet access remains limited, especially for women, efforts must be made to bridge this digital divide. By providing technology-based training and resources, SIF aims to empower women with the necessary skills to leverage digital platforms for business growth.
Through our Women-led Enterprise program, SIF aims to not only create job opportunities but also empower women to become leaders in their communities. By fostering entrepreneurship, we can unlock the potential of women, uplift communities, and contribute to the country’s overall development.