Imagine a world where women have equal access to opportunities, where their contributions drive economies forward, and their leadership shapes more inclusive societies. This vision isn’t just aspirational -- it’s essential.
Achieving gender equity in skills, resources and networks isn’t merely a human rights issue; it’s an economic necessity. The McKinsey Global Institute estimates that closing the gender gap in entrepreneurship could contribute an astounding $12 trillion to the global GDP by 2025.
Yet, the journey to equality and equity remains fraught with barriers.
A 2022 UN Women report paints a grim picture: Globally, women’s startup activity stands at only 10.1 percentile, and their rate of established businesses falls even lower, at 5.5%. The challenges grow sharper as women advance through the entrepreneurial cycle. According to the Women’s Empowerment Index (WEI) and the Global Gender Parity Index (GGPI), women achieve only 60% of their full potential and 72% of what men achieve, reflecting a troubling 28% gender gap. This persistent inequity in upskilling isn’t just a gender issue -- it’s an economic one, stifling human development and impeding global innovation.
Bangladesh mirrors these global disparities with sobering statistics. The latest Household Income and Expenditure Survey (HIES) by the Bangladesh Bureau of Statistics (BBS), supported by the World Bank, reveals that women face significantly higher unemployment rates than men (5.9% vs 2.8%), with urban women experiencing the brunt of it at 9.6%. The wage gap compounds the problem, as men earn 35.8% more per hour on average.
Without targeted interventions like effective upskilling and resource empowerment, more than 340 million women and girls worldwide, particularly in developing regions such as Bangladesh, may remain trapped in extreme poverty by 2030. Women face systemic barriers that stifle their potential, from wage gaps to limited entrepreneurial opportunities. These inequities are not only unjust -- they hold us all back. These figures highlight the urgent need for transformative change.
But where challenges exist, so do opportunities. Empowering women is the key to unlocking a future of innovation, growth, and shared prosperity. Investing in women has proven to yield immense societal benefits, from stronger communities to more resilient economies.
With transformative upskilling programs such as Uddami Ami,the Women Empowerment Cell (WEC) of Brac Business School, Brac University aims to break down gender-based barriers. Offering practical courses and mentorship from academics and industry leaders, it equips women to navigate the complexities of starting and scaling a business. The program ensures participants groom an initial level of skill-sets in a fast-evolving market and provides networking opportunities by connecting participants with peers, industry leaders, and potential customers, while funding options, including cash prizes and bank loans, address key financial gaps.
Initiatives like Uddami Ami strive for more than economic empowerment, they aim for societal transformation, as they create a network of empowered women entrepreneurs who can innovate, collaborate, and inspire change.
Empowering women is a shared responsibility. Whether through funding skill development workshops, sponsoring flagship programs, or enabling new initiatives, every contribution plays a critical role in shaping a better tomorrow. In a world where gender equity remains elusive, such initiatives have been striving to reshape the entrepreneurial landscape. With more and more women being empowered through entrepreneurship, the entire nation gets to unlock new opportunities and drive innovative yet sustainable growth.
Dr Nusrat Hafiz is Assistant Professor and Director of WEC, Brac Business School, Brac University. Email: [email protected]
