Business Wire India
In advance of International Women’s Day, Visa unveils grant programs with Hand in Hand International and IFundWomen
New study commissioned by Visa shows 66% of female entrepreneurs report difficulty funding businesses
Kicking off Women’s History Month, Visa (NYSE:V) today announced two new partnerships bolstering the company’s commitment to women’s economic empowerment. Hand In Hand International and IFundWomen will join Visa to help provide both educational resources and funding for women entrepreneurs around the globe to help them build and grow their businesses. The global rate of female entrepreneurship has been increasing more quickly than that of male entrepreneurs, with more than 250 million women around the world engaged in entrepreneurship.
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“Women power economies around the world and increasingly are a driving force in the creation of new businesses,” said Al Kelly, chief executive officer and chairman, Visa. “Visa is committed to using the full power of our network, brand and financial resources to put a spotlight on this growing economic force and help female entrepreneurs achieve their dreams.”
About the Partnerships:
- IFundWomen: IFundWomen is a funding and education platform that provides access to capital through grants and crowdfunding, expert business coaching and a network of women business owners. Visa’s new global partnership with IFundWomen is specifically designed to help entrepreneurs secure the funding they need through a series of grant contests. To find out more and apply for a grant, entrepreneurs can visit IFundWomen.com/Visa.
- Hand in Hand International: As part of the company’s mission to enable individuals, businesses and economies to thrive, Visa is launching a $2.4 million, three-year partnership with Hand in Hand International, a global non-profit organization that focuses on developing economies in Africa, South Asia and the Middle East. Visa’s partnership with Hand in Hand International will focus on providing business education and broadened financial services access to 10,000 micro businesses in Kenya – at least 75% of which are owned by women. The partnership will further women’s economic empowerment, which has a multiplier effect, boosting economic growth and leading to greater development outcomes.
In conjunction with the partnerships, Visa today unveiled initial findings from the second annual “State of Female Entrepreneurship” report. The annual study seeks to understand the goals, aspirations and challenges facing women business owners today. Key findings included that funding remains a top challenge: 79% of women entrepreneurs in the United States feel more empowered now than they did five years ago, yet 66% report difficulty in obtaining the funding they need.
“In an increasingly digital world, businesses need to constantly adapt to shifting consumer preferences. But keeping up is challenging, especially for a small business. The women entrepreneurs I have met echo a need for more access to capital to fund, run and grow their businesses,“ said Suzan Kereere, global head of merchant sales and acquiring, Visa. “We are excited to help level the playing field through more access to tools and grants this year, and will continue to champion women in all facets of life in the pursuit of an inclusive digital society.”
Visa has demonstrated a longstanding commitment to empower women through partnerships, programs and sponsorships. The company’s more recent efforts include:
- Women in Business:
- Women in Sport:
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
Gem 2016/2017 Women's Entrepreneurship Report Gem 2018/2019 Women's Entrepreneurship Report International Monetary Fund’s Pursuing Women's Economic Empowerment Visa 2020 State of Female Entrepreneurship Report, conducted by Logica Research on behalf of Visa to 400 adult, female small business owners in February 2020
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Source: Businesswire