Observing International Women’s Day, March 8th: Pamela Coke-Hamilton, Executive Director of the Caribbean Export Development Agency
One morning this week while driving my son to school, he asked “Mum, why is it mostly the mums who drop kids to school in the mornings and do the pick-ups in the afternoon?” I instinctively responded, “Well the men work…” and then it hit me… I WORK. In fact the vast majority of the mothers I know also work, and do school pick-ups, give lessons, ferry the kids to extra curriculum activities, do homework, plan sleep overs and the list goes on.
What struck me, and left me pondering on it for the past few days, was the automaticity, the virtual knee-jerk explanation that I proffered in response to his innocent query. But, I think I have figured out why.
I was having a conversation with a colleague about the recent appointment of the new Senator, Carol Lady Haynes, and the striking photo in the newspaper, mid-stride with her family in tow, looking every inch the powerful, incredibly accomplished, dynamic and innovative leader that she is. My colleague, having not seen the photo, upon seeing it, remarked, “Oh, this is Richie’s wife!” Need I say more?
I believe that it is critical that we as a region urgently realign perception with reality. And perhaps that is the difficult part because it also means that we, as women, are just as much facilitators of a status quo that maintains traditional roles, while the entire environment in which we now live has dramatically changed, placing inordinate demands on women to not only battle it out in the workplace, but also be “Stepford wives” and “soccer mums“. Surely this cannot be sustainable?
As we celebrate International Women’s Day 2015 on March 8, one area that is certainly changing the status quo, is the growth of Caribbean women in business; a fact that cannot be ignored. Under the 10th European Development Fund (EDF), which Caribbean Export is currently implementing, the Direct Assistance Grants Scheme (DAGS) provided funding to 282 regional firms totaling some €5.8 million, of which 38% were female owned or led. In fact between 2012 and 2014, the funding awarded to female-owned firms increased by 54%.
In addition to the DAGS, the Agency also provides special funding assistance to priority sectors. In 2014, this support was provided to agro-processing firms to the tune of €197,000. A total of 22 firms were awarded funding, of which 50% were female-owned businesses. This signifies continuing commitment by Caribbean Export to support women-led businesses where it matters the most. It is generally difficult for all small businesses to obtain financing in the current environment, but women-owned businesses face greater challenges. As a result, most women start companies using more of their own money, and less capital from outside investors.
Also, women can be more reluctant to apply for loans and are more likely to expect rejection, and research shows that more than 10% of men seek external equity financing, versus just 2% of women. Yet when women are the direct beneficiaries of credit, their repayment rates are higher in all regions of the world.
The empowerment of women entrepreneurs has become the focus of global governments within the last few decades. In fact, it is posited that helping women-owned business is a smart investment as data from the World Bank, and the World Economic Forum demonstrate that women-owned businesses can be the tipping point for a global economic comeback.
As we celebrate another International Women’s Day, let us commit to changing our perspective from the inside out and in that transformation of our minds, achieve the radical shift that we so desperately desire.
(EDITOR’s NOTE – As a step-grandfather who collects HIS step-grandson from school as my workload allows as a work from home male who does sundry chores, inclusive of dishes and laundry in addition to my self-appointed job, I find the generalisation rather disturbing. I also don’t complain when my wife’s colleagues refer me to as her spouse instead of my own identity… But then this website makes it its business to respect all viewpoints, even those which may be incorrect or biased)