JULY 26 — Women entrepreneurs are not just agents of change. They are the architects of a sustainable future. Women have great potential to shape the entrepreneurial ecosystem.
However, they have to cross various hurdles and barricades like gender biases, limited funding access and a lack of inclusive environment to become entrepreneurs
In Malaysia, the glaring reality is that our gender ranking has dismally slipped to the bottom of the Global Gender Gap Index in 2023 where we were ranked 102nd out of 146 countries, behind the Philippines (16th), Singapore (49th), Thailand (74th) and Indonesia (87th).
We cannot dismiss these numbers that reflect deep-seated market inequalities that are limiting business opportunities in Malaysia.
Against this backdrop of despair, women entrepreneurs gather strength from their own tenacity, resilience, and creative skills to navigate the prejudices of the business world.
Presently, women represent around 20 per cent of entrepreneurs in Malaysia’s small and medium enterprise (SME) sector, with a majority of them owning small businesses like childcare centres, restaurants, tuition centres, beauty parlours, tailoring, and retail shops.
The main issue here is that there are allocations of various resources in most of the government’s departments but yet they have not been accessible to a major segment of businesswomen.
Why is this so?
Right from the onset, aspiring entrepreneurs are clueless as to where and how to get the specific resources. Even if they were aware, they may face either arbitrary selective processes or an unfriendly online application process.
What they need is a simplified set of tools to access any resources.
And the biggest blow for marginalised Malaysian women is that some of these resources may be channelled through representatives who have no experience or understanding of empowering women.
Nor do they have the interest.
In most of these cases, there is no comprehensive framework outlining eligibility criteria, training or a structured approach to delivering the promised support.
For instance, Nigeria and Rwanda are cited as simple and direct models for successfully disseminating funds effectively. Budding businesses have flourished with the “life-saving” government resources, skills and knowledge.
Some of the popular, largest and established development global partnerships which have elevated women entrepreneurship in low economic communities with microfinance, education and mentoring — are Vita Voices, Kiva, Grameen Bank and BRAC.
What sets these successes apart from other organisations is the provision of meticulous training and mentoring that goes with the financing.
To this end, Tan Sri Shahrizat Abdul Jalil, with a voice of experience and determination, has brought together multiple stakeholders — the government, private sector, successful entrepreneurs, gender experts, and related NGOs under one roof — Hawa’s recently launched Women in the Ministry of Investment, Trade and Industry (Witi).
The initiative will be in collaboration with the Ministry of Investment, Trade and Industry (Miti) to connect women entrepreneurs and startups to funding, mentorship and other resources.
Datuk Seri Tengku Zafrul Abdul Aziz, the minister of Miti said Hawa’s initiative is “in line with what we (Malaysia) plan to do as Asean chair next year in promoting women’s economic participation at the Asean level.”
He said that a steering committee, to be chaired by Miti secretary-general, will be formed to ensure a better structured workflow.
“Securing funding is a significant hurdle for all entrepreneurs, but it is often amplified for women. Advocating gender-responsive initiatives in access to resources is essential for dismantling systemic barriers and promoting gender equality in the technology sector.”
“Investors and financial institutions should actively support and fund women-led startups, recognising their potential for growth and innovation,” she said.
This is not new for Shahrizat.
Shahrizat held the unprecedented role of Minister of Women, Family, and Community Development and as an adviser on women’s issues from 2001 to 2018. Her tenure saw increased public awareness on gender equality in women’s participation in business.
Today, as Women and Family Affairs Council (Hawa) chairman, Shahrizat has once again involved various stakeholders who can create an environment where robust women-led businesses can flourish unhindered.
“From governmental bodies and financial institutions to educational establishments and community groups, every player has a significant role in shaping the entrepreneurial ecosystem to be more inclusive and equitable.
“Hawa Malaysia will strive to disseminate information regarding resources and try to connect women to resources and information from other agencies.
In an era when human skills are increasingly important and complementary to technology, the world cannot afford to deprive itself of women’s talent in sectors where talent is already scarce.
The crushing toll on women who have family obligations as well as bread and butter issues will further impede their business development. In this context, apart from entrepreneurial support programmes, they also need subsidised daycare centres for their children.
The prevailing wisdom and consensus is that women empowered through entrepreneurship, can bring additional income to the family and economic growth to the community and nation.
It is nothing new.
Nonetheless, we have to keep pounding and pedalling the same diagnosis — to recognise the diversity and value of women’s contributions to unlock a new era of innovation to make a better socio-economic impact to the nation.
Malaysia is blessed to offer so much in resources and women are entitled to enjoy all of it as well. Hopefully, Malaysia will be able to swing the pendulum higher up in the next Global rating.
* This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
