CIM Finance in collaboration with the Mauritian Association of Women Entrepreneurs, organised a workshop on 28 August. The program will propose solutions for the professionalization of women entrepreneurs. These should enable Mauritian women to better develop and manage their business.
The financial organization presented its solutions to women entrepreneurs at Greenwich University in Ebene. These include factoring and leasing. The 60 or so participants are among the many female entrepreneurs. They have invested in or manage, alone or jointly, an SME in the manufacturing, service or retail sectors. Thus, this CIM Finance workshop allowed them to discover the opportunities they can benefit from to develop their business.
Factoring and leasing services for women entrepreneurs
One of the solutions mentioned was Factoring. This technique consists of obtaining advance financing and subcontracting this management to a specialized credit institution. In concrete terms, CIM Finance is responsible for collecting the customer receivables it has purchased (verification of payments, follow-up and reminders to customers). In addition, the credit professional wishes to “give women entrepreneurs a little boost towards growth”. For this purpose, it offered its leasing and credit card solutions for professional use.
” Women entrepreneurs bring income to their families, generate jobs in their communities and create products and services that benefit society as a whole.”
Aborted projects due to lack of financial support
While entrepreneurship is on the rise, the need for financing is increasing. In fact, according to Nadine Catherine, president of the National Women Entrepreneur Council, “they face difficulties, sometimes, even before they start. And among these difficulties, finance takes the lion’s share.
Unfavourable conditions, or even a categorical refusal, make it difficult for these women to find a financing solution. A NWEC study shows that 65% of them would use their own savings to start their business. It is with this in mind that CIM Finance organised this workshop for women entrepreneurs, in collaboration with the Mauritian Association of Women Entrepreneurs.
Entrepreneurship is increasingly a woman’s game
The latest Global Entrepreneurship Monitor (GEM) report shows an overall increase in women’s entrepreneurship. Out of 74 countries surveyed, 163 million women have started a business. In the Indian Ocean, a network of women entrepreneurs,EFOI, has been created. The purpose of the latter is to encourage the participation of women in economic development. With over 100,000 women entrepreneurs across five continents, their motto is “Alone we are invisible, together we are a force”.