This past week, members from around the business world gathered for the first ICSB Global Women Entrepreneurship (WE) Conference, a space designed for women that dare to pursue creative solutions for greater global impact. This conference comes at a crucial juncture, as MSMEs and entrepreneurs navigate an emerging and constantly changing business ecosystem. As we come together to reconsider and reimagine our world, it is clear that women play an increased and vital role in creating new, sustainable business practices.
The Need for a New Focus
Some of the themes we have stressed this year at ICSB have included sustainability, humane entrepreneurship and investment, flexibility, and resilience. Women have consistently been at the forefront of progress in all of these fields, and they have largely done so without significant investment from traditional business actors. Women have been working and innovating throughout history, even as the market has traditionally under-valued their labor. They have experience in investing frugally to maximize services in the face of economic pressures.Economic Impact
The benefits of including women in leadership are clear. Companies that hire and promote women executives have seen consistently between a 15% and 69% increase in profits (Kathy Frey, WE Conference, 2020). Simply put, women are one of the top growth economies in an ecosystem looking for new growth opportunities.Moving Toward Equity
With the dual challenges of the COVID-19 crisis and the looming instability of climate change, we must change how we carry out humane entrepreneurship and sustainable investment. Steps to empower women in the business ecosystem include:* Self-Determination: Allowing women to decide for women.
* Recognition: Acknowledging that women are often left out of stimulus and support packages.
* Empowerment: Positioning women to influence and direct activity in the business ecosystem.
As Cecilia Tham declared at the WE conference, “Success is not defined by others, it’s how we want to be.”
Acknowledgments
ICSB congratulates and warmly thanks the WE Conference Chairs:* Shoroke Zedan, Partner, Envisage Consulting, Egypt
* María Fernanda Andrés, C-Level Executive / Chief Business Developer at Aceleradora Litoral, Argentina
* Inés Gabarret, Associate Dean at ESSCA School of Management, France
* Diah Yusuf, Founder at Indonesia Prima, Indonesia
* Analia Pastran, Founder and Executive Director of Smartly Social Entrepreneurship on the SDGs, USA
* Vicki Stylianou, Head of championing and policy at Institute of Public Accountants, Australia