Systemic barriers hold businesswomen back

Leaders highlight need for inclusive financial solutions

KARACHI:

Women entrepreneurs face systemic barriers to accessing finance, hindering their growth and economic contribution, said women business leaders while calling for innovative solutions and collaborative efforts to empower women and integrate them into mainstream business sectors.

A seminar in connection with the Women Entrepreneurship Day and a campaign to enhance access to finance for women entrepreneurs was organised by the Lahore Chamber of Commerce and Industry (LCCI) in collaboration with United Bank Limited. LCCI President Mian Abuzar Shad emphasised the critical role women entrepreneurs play in Pakistan's economic growth. He said empowering women entrepreneurs is essential for achieving inclusive and sustainable development.

LCCI Executive Committee member Amina Randhawa stressed the importance of addressing systemic barriers that hinder women entrepreneurs from accessing finance. She called for innovative solutions to foster their growth and integration into mainstream business sectors.

Another LCCI Executive Committee member, Firdous Nisar, highlighted the economic potential of women entrepreneurs and urged stakeholders to collaborate in creating a supportive ecosystem.

She added that this initiative is not just about financial access; it's about empowering women to lead and contribute significantly to the economy.

The LCCI president highlighted the chamber's initiatives to advocate for policy reforms that facilitate women's entry into the business world and enhance their access to financial resources. He urged financial institutions to develop women-centric products and called on the government to reduce regulatory hurdles that disproportionately affect women-led businesses.

Representatives from United Bank Limited presented their suite of financial products tailored for women entrepreneurs. They showcased innovative loan schemes, mentorship programmes and digital tools designed to support women-led enterprises and shared inspiring success stories of women transforming their businesses through these solutions.

The seminar featured engaging panel discussions with industry leaders and policymakers, focusing on overcoming cultural and institutional challenges to women entrepreneurship, exploring technology-driven solutions for market access, and strategies for creating sustainable and scalable women-led businesses.

Mian Abuzar Shad concluded the seminar with a strong call to action for all stakeholders. He emphasised the need for deeper collaboration between financial institutions, chambers of commerce and policymakers to support women entrepreneurs, policy reforms aimed at reducing barriers to credit and business operations for women and the importance of fostering innovation and capacity building among women-led businesses.

Participants of the seminar praised the event as a crucial platform for addressing systemic issues and sharing actionable solutions.