Ivanka to stress on women-led entrepreneurship and its impact on global GDP

Posted By: PTI
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Hyderabad, Nov 28: US President Donald Trump's daughter Ivanka Trump, who arrived in Hyderabad on Tuesday, is likely to stress on fuelling the growth of women-led businesses in her address at the 8th annual Global Entrepreneurship Summit.

Ivanka Trump

In her key note later today, Ivanka is likely to stress on ensuring women entrepreneurs have access to capital, access to networks and mentors, and access to equitable laws. According to excerpts of her speech obtained by PTI, she would state that despite the soaring rate of female entrepreneurs, women still face steep obstacles to starting, owning, and growing their businesses.

"Fuelling the growth of women-led businesses isn’t simply good for our society – it's good for our economy. One study estimates that closing the gender entrepreneurship gap world- wide could grow our global GDP by as much as 2 per cent," she would state.

Ivanka, who is a successful businesswoman, fashion designer and advisor to the US President, was invited by Prime Minister Narendra Modi during his visit to the White House in June to speak at the Summit. She is leading the US contingent at the Summit themed 'Women First, Prosperity for All'.

She would open her speech by stressing how all over the world entrepreneurs are revolutionising our economies, and improving our societies.

"You are rewriting the rules," she would state. She will then talk about this year's GES theme.

"This year's Summit is focused on a theme that is key to our future: Women First, Prosperity For All. I am proud that for the first time ever, women make up the majority of the 1,500 entrepreneurs selected to attend," she would say.

Women, according to her, can help lead the way to closing this gap and ushering in a new age of greater prosperity. "We must ensure women entrepreneurs have access to capital, access to networks and mentors, and access to equitable laws."

Trump would go on to highlight what the US is doing to reverse the trend. "The US Small Business Administration, for example, increased its lending to women by over 500 million dollars this year alone."

The US administration is fostering mentorship through programmes such as SCORE – a nationwide initiative where successful men and women coach those who want to become their own CEOs.

"Our Administration is striving to promote greater opportunity for women around the world, both through our domestic reforms and our international initiatives," she would say.

At the G20 conference, the United States was a founding member of a bold, new initiative with the World Bank – the Women Entrepreneurs Finance Initiative, or WeFi. This facility provides access to capital, networks, and mentorship for women in developing countries.

"At home, our administration is committed to empowering women entrepreneurs through domestic reforms. In the past 11 months, we have expanded apprenticeship programmes and prioritised STEM education to ensure that women – and men – have more opportunities to master the skills that drive progress in the 21st century," she would state.

The US has dramatically reduced job-crushing regulations, which disproportionately hurt entrepreneurs and small business owners.

"And we are laser-focused on passing long over-due tax cuts. This will provide much needed relief to working families and businesses of all sizes," she would say, adding that this year the President's Budget included a proposal to establish a nationwide programme for paid family leave.

"We are committed to supporting women, and men, who work, inside and outside of the home," she would say.

In the last decade, USAID has promoted women entrepreneurship through a number of programmes, including providing micro-finance loans to women in Afghanistan, and bringing Internet access to women in Nigeria and Kenya. She will conclude by highlighting the inspirational stories of some of the entrepreneurs in attendance.

Trump will be greeted in Hyderabad by Modi who will host a gala dinner at the Falaknuma Palace, a luxury hotel once owned by one of the Nizams who ruled the city before India's independence.

PTI

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