A third of women in Latin America want to start a business and founded his own business, but finds difficulties in obtaining financingaccording to the latest Women’s Entrepreneurship Report from the Global Entrepreneurship Monitor. (gem)is considered the most prestigious and extensive study of the state of entrepreneurship worldwide.

Latin America and the Caribbean is the most entrepreneurial region in the world. 33% of women with entrepreneurial intentions and, according to the same study, 21% of women start a business.

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Additionally, 40% of these enterprises have high potential for innovation and business development programs but face barriers such as digital and financial divides, the report said.

Latino women want to start a business, despite being more influenced than men by digital literacy and access to funding, advice or time to pursue small ventures or start companies, research shows The World Bank (BM) and Inter-American Development Bank (IDB).

Problems with financing

Countries in Latin America and the Caribbean face important challenges in making it easier for women to start or create a business, as, according to Visa, about 70% medium and small enterprises owned by women, problems with access to finance.

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In this context and in conjunction with International Women’s Month Visa announced that it is advancing initiatives to prioritize equitable funding and resources for midsize and small women-led companies.

In fact, the Visa Foundation announced last year during the APEC summit that it would provide one hundred million dollars to support micro and small businesses for five years in Asia-Pacific Economic Cooperation countries including Peru and Mexico.

Thus, the Visa Foundation project, together with Pro Mujer, an NGO created in 1990 in Bolivia and operating in six countries in the region, was able to support micro and small businesses led by women in Latin America, distributing $3 million last year.

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“He women’s entrepreneurship has transformation potential communities and economies, and help build prosperous societies,” said Maribel Diese, Senior Vice President and Head of Human Resources for Visa Latin America and the Caribbean.

To help expand opportunities for women in science, technology, engineering, arts and math (STEAM) fields, Visa has also promoted initiatives with organizations such as Geek Girls Latam, Laboratoria, BécALAS program in MexicoOrganization for Economic Cooperation and Development (OECD) and the NiñaSTEM initiative in Colombia and Girls in Tech in the Dominican Republic.

(EFE)