SPOTLIGHT

Innovations for Poverty Action SME Initiative Conference

On November 30, 2011, MIF General Manager Nancy Lee delivered opening remarks at the Innovations for Poverty Action SME Initiative Conference, co-hosted by IPA and the MIF and held at the IDB Headquarters in Washington, D.C. This annual event brings together a broad stakeholder group of researchers, practitioners, and policymakers to discuss the latest research on entrepreneurship and SME development in emerging markets.

Dr. Lee provided a comprehensive overview of the MIF’s diverse portfolio of interventions related to SME development in Latin America and the Caribbean, which includes increasing entrepreneur access to lending, establishing business incubator and accelerator programs, supporting value chain and local economic development networks, designing entrepreneurship training for youth and young adults, and fostering the venture capital and impact investment sectors in the region. She also described the MIF’s innovative projects in new areas, including savings accounts targeting micro and small entrepreneurs, entrepreneurship training for women, microfranchising, microinsurance, and online solutions platforms that will allow entrepreneurs to access valuable information from past MIF projects.

Highlighting the MIF’s increased emphasis on conducting impact evaluations of its projects, she said: “We want to understand a project’s impact down to the individual, household or firm level.” By conducting rigorous and thorough evaluations of its projects, through their entire lifecycle from design to post-conclusion, the MIF will be better able both to identify important lessons learned and success factors that will benefit its future projects, and to communicate these results with others.

To read the entire presentation, click here

 

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Women in Latin America and the Caribbean have dramatically increased their role in the workforce. Currently, about half of women in the region are economically active, more than double the level in the 1970s. They have been elected presidents of several Latin American countries and often dominate the microenterprise and microfinance sector, providing an important contribution to regional economies.

Still, women are severely underrepresented among small and medium-sized business owners. Globally, they own more than half of microenterprises but account for a quarter of small businesses and only 8 percent of medium-sized firms. Too frequently, women’s businesses do not grow beyond the micro stage. Their ventures tend to be small, informal, concentrated in the commerce sector, where profits and margins are low, and they often use less credit.

This is why overcoming the challenges faced by women entrepreneurs will be at the centre of this year's XIV Inter-American Microenterprise Forum (Foromic 2011), together with successful experiences to increase financial services in rural areas. Read the whole story: Women entrepreneurs: too often trapped in the microenterprise ghetto.

Learn more about MIF's work on women entrepreneurship and gender.

Get to know successful women in the region:

Luiza Trajano,
Magazine Luiza
Isabel Cruz, Director General of the Mexican Credit Union Association (AMUCSS)

Iriny Lopes, Minister at the Department of Women's Policies

 
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