Trade Watch V9 No1 2015

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3 Tradewatch • The Official E-Newsletter of the Caribbean Export Development Agency • Vol.9 No. 1 January - March 2015
EDITORIAL
As a result, most women start companies using more of their own money,
and less capital from outside investors. Also, women can be more reluctant to
apply for loans and are more likely to expect rejection, and research shows that
more than 10% of men seek external equity financing, versus just 2% of women.
Yet when women are the direct beneficiaries of credit, their repayment rates are
higher in all regions of the world.
The empowerment of women entrepreneurs has become the focus of global
governments within the last few decades. In fact, it is posited that helping
women-owned business is a smart investment as data from the World Bank, and
the World Economic Forum demonstrate that women-owned businesses can be
the tipping point for a global economic comeback.
As we celebrate another International Women’s Day, let us commit to
changing our perspective from the inside out and in that transformation of our
minds, achieve the radical shift that we so desperately desire.(TW)
Changing the Status Quo
One morning whilst driving my son to school, he
asked “ Mum, why is it mostly the mums who drop
kids to school in the mornings and do the pick-ups
in the afternoon?” I instinctively responded, “Well
the men work…” and then it hit me…I WORK.
In fact the vast majority of the mothers I know
also work, and do school pick-ups, give lessons,
ferry the kids to extra curriculum activities, do
homework, plan sleep overs and the list goes on.
What struck me, and left me pondering on it
for the past few days, was the automaticity, the
virtual knee-jerk explanation that I proffered in
response to his innocent query. But, I think I have
figured out why.
I too have drunk from the cistern of “what mothers
should do, and their role in the household” and I have
come to the realisation that the tragedy is that it seems
as if there is no amount of higher education, professional
accomplishments, or accolades capable of uprooting this
ingrained acceptance of gender roles in our psyche, and
which is often manifested in reality.
I was having a conversation with a colleague about the
recent appointment of the new Senator, Carol Lady Haynes,
and the striking photo on the cover of the Nation News
Barbados, mid-stride with her family in tow, looking every
inch the powerful, incredibly accomplished, dynamic and
innovative leader that she is. My colleague, having not seen
the photo, upon seeing it, remarked, “Oh, this is Richie’s
wife!” Need I say more?
I believe that it is critical that we as a region urgently
realign perception with reality. And perhaps that is the
difficult part because it also means that we, as women,
are just as much facilitators of a status quo that maintains
traditional roles, while the entire environment in which
we now live has dramatically changed, placing inordinate
demands on women to not only battle it out in the
workplace, but also be “Stepford wives” and “soccer mums”.
Surely this cannot be sustainable.
As we celebrate International Women’s Day 2015 on
March 8, one area that is certainly changing the status quo,
is the growth of Caribbean women in business; a fact that
cannot be ignored. Under the 10th European Development
Fund (EDF), which Caribbean Export is currently
implementing, the Direct Assistance Grants Scheme (DAGS)
provided funding to 282 regional firms totaling some €5.8
million, of which 38% were female owned or led. In fact
between 2012 and 2014, the funding awarded to female-
owned firms increased by 54%.
In addition to the DAGS, the Agency also provides
special funding assistance to priority sectors. In 2014, this
support was provided to agro-processing firms to the tune
of €197,000. A total of 22 firms were awarded funding, of
which 50% were female-owned businesses. This signifies
continuing commitment by Caribbean Export to support
women-led businesses where it matters the most. It
is generally difficult for all small businesses to obtain
financing in the current environment, but women-owned
businesses face greater challenges.
Mrs. Pamela Coke Hamilton, Executive Director,
The Caribbean Export Development Agency