World Bank Group president David Malpass and Melinda Gates of Bill and Melinda Gates Foundation said governments should remove barriers to women’s full inclusion in the economy, whether as entrepreneurs or employees.
They said, “In economies with the strictest pandemic lockdowns, women-owned companies were 10 percentage points more likely to close than those owned by men. That’s not surprising as most women-owned businesses tend to be smaller.”
Malpass and Gates also argued that closing gender gaps in entrepreneurship would help reduce poverty, create jobs and spur growth and innovation.
They added, “Governments should target lines of credit and other forms of finance to women-owned businesses, boost the creation of e-commerce platforms to enable female entrepreneurs to access markets and help business incubators to overcome biases when it comes to investing in women-owned businesses.”