World Women Trade & Investment Forum WWTIF Malaysia 2020 is an unprecedented Forum centred on businesses all across Asia. Attracting women entrepreneurs, Investors who are expanding their investment portfolio and official dignitaries from more than 10 countries.
The three-day forum will highlight on the challenges that women entrepreneurs face in the start-up world, particularly when it comes to attracting funding and explore strategies for women entrepreneurs to secure funding.
The good news is that the ecosystem for female entrepreneurs is growing rapidly, with networks, collectives and support groups popping.
The "2018 State of Women-Owned Businesses Report" commissioned by American Express and reported in Forbes found that between the year 2017 and 2018, women started an average of 1,821 new businesses per day in the U.S. With women now making up a whopping 40% of growing entrepreneurs, it’s clear that more women are starting a business more than ever.
Working for yourself means you are in the driver’s seat and will have control over your business activities such as whom you work with including clients and business partners. Not surprisingly, many women are leaving corporate life to advance their careers more quickly.
With the right support, we believe that women have the power to change the economic landscape of their home, country and the world.
WWTIF for the first time in Asia brings a community of aspiring women entrepreneurs and investors under one roof to explore funding opportunities.
The road to being a successful entrepreneur is certainly not easy and might be filled with many challenges for both men and women. But, considering past worldwide scenarios, especially in the Asia, women are breaking these barriers and createing an equal space in the world of business and entrepreneurship. This is more visible in ASEAN countries which is the fastest growing economy and the 4th largest market in the world!
Major part of Asia especially, it has been a patriarchal notion for a long time that women should be relegated to domestic and household chores. This especially stands true for the rural segment and smaller towns.
Asia has a flourishing start-up ecosystem, but there are only a handful of female investors who have successfully achieved such a status to invest in start-ups and upcoming businesses. Only a few women entrepreneurs have completed the lifecycle of entrepreneurship that includes starting a venture, raising money, exiting it and giving in to healthy returns. The main reason there are very few angel investors who are women.
It has been proven in studies that female entrepreneurship is hindered more by social and cultural constraints rather than access to finance, particularly in Asia. In some cultures, a woman is required to look after family, especially the kids and juggling entrepreneurship with balancing life at home can be challenging for many. Not all women aspiring to be entrepreneurs have domestic assistance and so multitasking might serve as a hindrance towards the entrepreneurial aspirations of a woman.
Beside education or the right knowledge to initiate a business, many other factors must be considered, particularly for SME’s. The lack of mentorship, guidance, funding awareness and opportunities are some reasons that may pose hinder women to initiate and move ahead in their entrepreneurial ventures.
Funding is the cornerstone of any business, be it capital investment, operational, business expansion in domestic or international market. It is essential for entrepreneurs to understand how, why, when, what and where to seek funding as the need arises.
Entrepreneurs expanding their businesses have financing needs that may exceed micro-credit ceilings. Many of these SME entrepreneurs seek capital funding from personal networks, family and friends. Many shy away from the traditional banking and financial institutions due to high financing costs.