The growing importance of today's world economy
and the subsequent balkanization into regional trade regimes have left the world
wondering just where "globalization" will lead. One trend that can
be seen on a truly global level is the increase in businesses owned by women.
In the United States, women are starting businesses at twice the rate of men,
and this trend is being mirrored around the world.
As women gain freer access to education and financial credit, the number of women entrepreneurs increases. Thus, women are now playing a pivotal role in the business community. Women-owned businesses have become an important source of revenue, and national economies are reaping some of the benefits generated by women's successes.
The growing role of women and their importance to the world economy is the reason why the 1998 Global Summit of Women was organized. CIPE's continued commitment to women in business, first expressed at our Strengthening Women's Business Organizations conference in the fall of 1997, was the reason I attended and CIPE supported the forum. I chaired the CIPE-sponsored workshop entitled "Expanding Linkages Among Women's Business Organizations."
I was joined on the panel by: Ms. Rajni Aggarwal, President of the Federation of Indian Women Entrepreneurs; Lucia Quachey, President of the Ghana Association of Women Entrepreneurs; CIPE staff members Margo J. Spencer, Public Liaison Officer, and Bea Celler, NIS Program Officer. Ms. Phyllis Hill Slater, Immediate Past President of the National Association of Women Business Owners (NAWBO), was a special guest on the panel.
Our group discussed the impact of CIPE's 1997 conference, which created an opportunity to reach an international audience of women entrepreneurs and business leaders. CIPE is in the unique position of being able to access knowledgeable sources on how to promote women in economies and democracies that are undergoing transition.
Aggarwal and Quachey both delivered presentations that demonstrated to the audience how women's business organizations can, and have, successfully fostered real businesses and the spirit of free enterprise.
Women are engaging in entrepreneurial activities and are creating organizations that will support their endeavors, which are necessary for their overall success.
CIPE brought a message of action to the Global Summit which was a direct carryover from our 1997 conference. The 1990s have witnessed a global sweep of women creating niches for themselves within mainstream economic activities. Their increased involvement with trade and business policy development is necessary, and over the years it will increase in its necessity.
Ms. Celler delivered a three-step approach for women entering the global market. First, women need to demand a piece of the global pie, and they should put themselves out into the business world. Women need to participate in trade shows and communicate on the Internet. Second, women must also earn a seat at the table where global rules are being made. They need to advocate to their governments to adopt international standards and join multilateral organizations. If there is not an organization that supports these endeavors, then one must be created. Finally, women entrepreneurs need to look into foreign investment: Why is it here, and how can women make their products competitive in global markets? All of these point to where women are already moving - toward an integrated market.
The global summit, and continued CIPE support of women, are expediting what is evolving naturally. Women will, and in some instances already do, play a vital role in the economy. In the future, an economy without women will probably not be able to compete on an international level.
Phyllis Bonanno, Board Member