In honour of Women’s History Month, we had the privilege of conducting an interview with Paula Cucalón, Deputy Program Director of Building Markets, to discuss the impactful efforts being made to empower women entrepreneurs and cultivate more inclusive economic ecosystems. The “Women Entrepreneurs to Market” project, a collaboration between Building Markets and Nasdaq, aims to promote economic empowerment, gender equality, and sustainable development by addressing systemic barriers and fostering a conducive environment for women-led businesses.
The central objective of the “Women Entrepreneurs to Market” project is to cultivate diverse supply chains and inclusive business models, with the intention of contributing to the development of more equitable and sustainable economic ecosystems, and driving innovation, resilience, and long-term growth. This initiative holds particular significance in Colombia, where women lead over 59% of registered businesses, underscoring the substantial presence of women entrepreneurs in the business landscape.
Despite the notable presence of women entrepreneurs, they encounter obstacles that hinder their growth and restrict their access to markets. The project aims to surmount these challenges by offering training programmes, e-learning courses, one-on-one mentorship sessions, and opportunities to engage with buyers through the BuMa Match platform. The goal is to empower women entrepreneurs from marginalized communities in Colombia, equipping them with the requisite skills, resources, and networks to prosper in the marketplace.
Paula Cucalón underscored the significance of advocating for equity and allyship, particularly for women in entrepreneurship. She emphasized the need for establishing a more inclusive and flourishing entrepreneurial ecosystem, where women can lead with confidence, integrity, and purpose. By fostering a culture of leadership and empowerment, the project aims to inspire women to realise their full potential and contribute their talents for the greater good.
When discussing the impact of the project, Paula drew inspiration from the narrative of Madam C.J. Walker, a pioneering entrepreneur who overcame adversity to achieve success. She expressed her conviction that Colombia is home to women entrepreneurs who possess remarkable talent, passion, and entrepreneurial vision, awaiting the opportunity to shine, echoing the sentiment that the partnership between Building Markets and Nasdaq plays a pivotal role in enabling these women to thrive.
Looking ahead, the “Women Entrepreneurs to Market” project has ambitious plans for 2024. The focus will be on expanding outreach efforts to engage more women entrepreneurs in Colombia and across Latin America, as well as supporting women-led small businesses in enhancing their sustainability practices. Additionally, the project aims to invest in innovative methods to deliver services digitally and establish a working capital fund to provide financial support to small businesses, with a 50% target for women-led businesses in Colombia. These initiatives are designed to cultivate a more resilient and inclusive business ecosystem in Colombia, Latin America, and beyond.
In summary, the efforts to empower women entrepreneurs are not solely about conducting business; it is about empowering dreams, nurturing aspirations, and illuminating the path towards a brighter, more inclusive future for all. The “Women Entrepreneurs to Market” project is a testament to the remarkable potential and resilience of women entrepreneurs, and through initiatives like this, we can create opportunities for women to succeed, prosper, and make history in the business world.