By | Mercado Libre
Latin America is the region with the most women-led startups in the world, according to the Global Entrepreneurship Monitor. There are over 7 million MSMEs in the region and over 50% of them are businesses run by women.
But, despite being essential economic drivers and job creators, Latin American women entrepreneurs face the most hurdles when it comes to gaining access to financial management services and tools, key enablers for formalizing and expanding their businesses. 73% of Latin SMEs led by women either fail to obtain sufficient economic resources to boost growth or are completely excluded from financial institutions.
There are other factors that limit the creation of an equitable entrepreneurial and financial ecosystem for women in the region, such as gender-role perceptions, a lack of entrepreneurial training, discrimination based on sex, socioeconomic level, or race, as well as a shortage of products and services with a gender perspective.
We know that education is a key factor in enabling other dimensions of financial inclusion, such as financial well-being and productive development.
With this in mind, we at Mercado Pago are joining forces with Pro Mujer in Spanish America and Aliança Empreendedora and Barkus in Brazil to promote financial education for women entrepreneurs in the region.
The initiative is focused on boosting women’s capacity to generate income and helping them plan a sustainable future for their businesses. This way, they can access educational content for each stage of their business, acquiring financial, digital and leadership skills.
Since the start of the program in 2022, over 5,400 women entrepreneurs were certified, and the results are encouraging: 64% improved their financial skills, 86% adopted the use of budgeting in their businesses, 85% claim to have incorporated digital channels and online payment solutions, and 87% feel empowered in their roles as entrepreneurs.
This joint effort not only seeks to encourage women in the development of their businesses, but also in the search to generate a network of women entrepreneurs in Latin America.
The talent and transformative potential of women entrepreneurs is immense. Therefore, we are redoubling our commitment to the agenda for gender in the region, so we can provide tools that build societies committed to equal opportunity.
