EMPOWERING WOMEN IN SMALL BUSINESS DEVELOPMENT: A PATHWAY TO ECONOMIC GROWTH AND GENDER EQUALITY

Abstract

Women represent a substantial and often untapped potential within the global small business sector. Empowering women in small business development can lead to enhanced economic growth, poverty alleviation, and the promotion of gender equality. This paper explores the key barriers women face in establishing and scaling small businesses, the significance of empowerment through access to education, finance, mentorship, and networks, and the broader socio-economic benefits of supporting women entrepreneurs. Additionally, the paper discusses the role of government policies, non-governmental organizations (NGOs), and private-sector initiatives in fostering an ecosystem conducive to female entrepreneurship. By examining current initiatives and providing recommendations for future action, this study emphasizes that empowering women in small business development is not only a moral imperative but a strategic economic investment.