Kicking off Women’s History Month, Visa has announced two new partnerships - Hand In Hand International and IFundWomen - to bolster the company’s commitment to women’s economic empowerment. 

 

IFundWomen is a funding and education platform that provides access to capital through grants and crowdfunding, expert business coaching and a network of women business owners, while Hand in Hand International is a global non-profit organization that focuses on developing economies in Africa, South Asia and the Middle East. 

 

The duo will join Visa to provide both educational resources and funding for women entrepreneurs around the globe to help them build and grow their businesses. 

 

The global rate of female entrepreneurship has been increasing more quickly than that of male entrepreneurs, with more than 250 million women around the world engaged in entrepreneurship, said a top official.

 

“Women power economies around the world and increasingly are a driving force in the creation of new businesses,” remarked Al Kelly, chief executive officer and chairman, Visa. 

 

“Visa is committed to using the full power of our network, brand and financial resources to put a spotlight on this growing economic force and help female entrepreneurs achieve their dreams,” he stated.

 

Visa said its new global partnership with IFundWomen is specifically designed to help entrepreneurs secure the funding they need through a series of grant contests. 

 

As part of the company’s mission to enable individuals, businesses and economies to thrive, the digital payments leader is launching a $2.4-million, three-year partnership with Hand in Hand International. 

 

Visa’s partnership with Hand in Hand International will focus on providing business education and broadened financial services access to 10,000 micro businesses in Kenya – at least 75% of which are owned by women. 

 

The partnership will further women’s economic empowerment, which has a multiplier effect3, boosting economic growth and leading to greater development outcomes, it stated.

 

In conjunction with the partnerships, Visa today unveiled initial findings from the second annual “State of Female Entrepreneurship” report. 

 

The annual study seeks to understand the goals, aspirations and challenges facing women business owners today. 

 

Key findings included that funding remains a top challenge: 79% of women entrepreneurs in the United States feel more empowered now than they did five years ago, yet 66% report difficulty in obtaining the funding they need.

 

“In an increasingly digital world, businesses need to constantly adapt to shifting consumer preferences. But keeping up is challenging, especially for a small business. The women entrepreneurs I have met echo a need for more access to capital to fund, run and grow their businesses,“ remarked Suzan Kereere, global head of merchant sales and acquiring, Visa. 

 

“We are excited to help level the playing field through more access to tools and grants this year, and will continue to champion women in all facets of life in the pursuit of an inclusive digital society,” she added.-TradeArabia News Service