UN celebrates Women’s Entrepreneurship Day

Yesterday, November 19th, was celebrated as Women’s Entrepreneurship Day across the world. The United Nations declared Women's Entrepreneurship Day as a global movement to empower women in business and to encourage countries to advance more women and push them towards higher economic participation.

In developing countries like India, taking initiatives to encourage women to be economically independent is highly important. With higher economic participation of women, the nation will see better education, less poverty and an improvement in the national sex-ratio.

It is believed that over the next five years, female-owned businesses to will grow by 90% through initiatives like Women's Entrepreneurship Day. The UN has encouraged countries to take a pledge to "empower, celebrate and support women in business and build a strong network for change worldwide". A report by the organization states that currently, only 58-70% women have a share in the economic and political resources as compared to those available to men.

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According to a report by Thomson-Reuters,  WED CEO, Wendy Diamond stated:"Since 1999, I've been a female entrepreneur and woman spearheading in small businesses. I personally encountered the many challenges that women deal with daily in the business world.”

She added, “When women are provided economic empowerment they outspend men on their family's health, nutrition, and education by threefold. Investing in women promotes economic and social development as women reinvest in their communities and homes." Global Entrepreneurship Week (GEW) has taken this opportunity to promote events that focus on encouraging female entrepreneurship.