Addressing the formal launch of the 2016 Small Business Administration SBA national Micro, Small and Medium Sized Enterprise (MSME) conference at the Monrovia City Hall in Monrovia, Addy emphasized that women play a pivotal role in driving the economy towards success.
The conference provides amongst others room for discussions between key stakeholders from the public and private sectors regarding challenges women face in running their businesses and what policy makers, business community and civil society can do to advance their roles in business and society.
“The vital role that women play in driving our economy cannot be overstated. In Liberia, already manage significant share of our SMEs (34%) and are dynamic entrepreneurs and they are more likely than men to start their own businesses (69% of women compared to 56% men), which underlines the importance of enabling them unlock their entrepreneurial potential,” Minister Addy intoned.
He said, “studies have shown that most women owned businesses are found in less productive sectors and remain largely invisible in cooperate and government supply chains. Women are only in charge of one in five exporting companies globally and remain predominantly employed in the informal sector and occupy low skill jobs in Liberia, due to obstacles like education, access to credit and lack of women network”.
“Economically empowered women are known to make more investments in their children’s health and education than their male counterparts, an investment that will benefit our entire society. Support to our women will therefore have a transformative impact on our country as a whole”, he stated.
He commented further, “we must further strengthen the role that women play in moving our country forward, in creating employment, wealth and in reducing poverty”.