This Friday marks International Women’s Day – a milestone in the calendar every year which aims to raise awareness of the challenges faced by women and inspire a global move towards gender parity.
The theme for this year’s event is #InspireInclusion, with the campaign’s website asking people to “imagine a gender equal world. A world free of bias, stereotypes and discrimination”.
To mark the occasion, the Institute of Export & International Trade (IOE&IT) will be hosting a free webinar tomorrow (8 March) at 11am on what needs to be done to break down barriers to trade for female entrepreneurs, which you can sign up to here.
Ahead of International Women’s Day, the Daily Update here rounds up some of the latest news around gender and trade you may have missed.
Expert panel
The IOE&IT webinar tomorrow, titled ‘Breaking down barriers for female entrepreneurs in trade’, will see a panel of policy experts and industry representatives discuss various initiatives and challenges in the area of gender and trade.
This includes:
- Host: Hemita Bhatti, head of trade policy and women in trade champion at IOE&IT
- Professor Sangeeta Khorana, chair of the IOE&IT academic board and professor of international trade at Aston University
- Kate Foster – head of international affairs at the Federation of Small Businesses (FSB)
- Noreen Cesareo, president of the Organization of Women in International Trade (UK Chapter)
- Paula Bellamy – managing director at OL UK
The webinar is taking place at 11am tomorrow and is free to attend, but you will need to register here before 9.30am on the day.
Lords debate
The House of Lords will host a debate tomorrow on “steps taken to promote the economic inclusion of women”.
Baroness Barran, the government’s spokesperson for equalities in the Lords, has put forward the debate, which is expected to include comments from:
- Baroness Gohir (Crossbench) – CEO of Muslim Women's Network UK
- Baroness Helic (Conservative) – advisory board member of the Centre for Women, Peace and Security, at the London School of Economics
- Baroness Hussein-Ece (Liberal Democrat) – former equality and human rights commissioner
- Baroness Thornton (Labour) – Labour spokesperson for equalities and women's issues
An ‘In Focus’ report on economic inclusion for women has also been posted in the House of Lords Library.
High interest rates a barrier
A Female Business Owners Index from challenger bank Tide has found that 74% of female business owners in the UK say high interest rates have negatively impacted their businesses over the last six months.
The index also found that 40% of women are finding it challenging to do long-term planning, with over a third putting growth plans on hold (38%) or saying they’re struggling to manage cash flow (37%).
A third also said that a “lack of self-confidence” was a personal barrier in their business experience, with 26% saying they’re not taken “seriously as a business owner”.
US$50m digital fund
The World Trade Organization (WTO) and International Trade Centre (ITC) recently launched a new fund to help women around the world to “tap into opportunities in international trade and the digital economy”.
The Women Exporters in the Digital Economy (WEIDE) fund was launched in the sidelines of the 13th Ministerial Conference in Abu Dhabi.
“Digital trade, and more specifically digitally delivered services trade, is the fastest growing segment of international trade — growing at 8% on average since 2005,” said WTO director general Ngozi Okonjo-Iweala.
“In the era of digital trade, those who were left behind in the first wave of globalisation have the opportunity to benefit now and do things differently. Digitalisation presents us with unprecedented opportunities to empower women entrepreneurs, level the playing field and foster inclusive growth.”
Gen Z entrepreneurs in India
Another report from Tide has found that 80% of women in the Gen Z and millennial age cohorts are pursuing becoming entrepreneurs.
The study, reported in IBS Intelligence, also found female business owners in smaller cities and towns across the country are adopting digital solutions to increase trade.
However, a report from Indeed, titled ‘Promoting Women for Better Work’ found that unequal pay is a persistent issue in the country, with 56% of women asking for a raise receiving less than requested.
In case you missed it
If you’d like to read more about gender and trade, make sure to read these excellent recent articles on the topic.
· ‘We should never be complacent’ – IOE&IT’s Karen Holden on progress for women in trade – interviewed by Daniell Keen, IOE&IT
· ‘IOE&IT at the WTO Public Forum: promoting indigenous women and MSME participation in global trade’ – Phil Adnett, IOE&IT
· ‘Why the gender gap in international trade needs to close faster’ – Sally Jones, EY
· ‘Trade drives gender equality and development’ – Nadia Rocha and Roberta Piermatini, IMF