Breaking Barriers: Empowering Women Entrepreneurs in Pakistan

Women entrepreneurs in Pakistan continue to face systemic barriers that hinder their access to finance, limiting their growth and contribution to the economy. A recent seminar organized by the Lahore Chamber of Commerce and Industry (LCCI) in collaboration with United Bank Limited (UBL) shed light on these challenges while presenting actionable solutions.

The Role of Women Entrepreneurs in Economic Growth

LCCI President Mian Abuzar Shad underscored the vital role women entrepreneurs play in driving Pakistan’s economic development.

“Empowering women entrepreneurs is essential for achieving inclusive and sustainable growth,” he remarked.

From small home-based enterprises to scalable startups, women-led businesses hold immense potential to transform Pakistan’s economic landscape. However, the lack of financial access remains a critical roadblock.

Key Insights from the Seminar

1. Addressing Financial Barriers

LCCI Executive Committee members, including Amina Randhawa and Firdous Nisar, emphasized the importance of addressing systemic barriers that prevent women from accessing loans and financial resources. They called for:

• Innovative, women-centric financial products.
• Simplified regulatory frameworks for women-led businesses.
• Tailored mentorship programs to build entrepreneurial capacity.

2. Collaborative Efforts

The seminar highlighted the need for collaboration among stakeholders, including:

• Financial institutions: To create products specifically for women entrepreneurs.
• Policymakers: To implement reforms that reduce regulatory burdens.
• Business chambers: To advocate for women’s inclusion in mainstream economic activities.

3. Technology and Innovation

Panel discussions also focused on leveraging technology to overcome cultural and institutional challenges. These include:

• Digital tools for improving market access.
• Online platforms to streamline access to finance.
• Technology-driven mentorship programs.

Innovative Solutions from United Bank Limited

Representatives from UBL showcased tailored financial products for women, such as:

• Low-interest loan schemes for women entrepreneurs.
• Digital tools to manage and grow their businesses.
• Mentorship initiatives that equip women with the skills to navigate competitive markets.

Inspirational stories of women successfully growing their businesses through UBL’s programs were shared, motivating participants to explore similar opportunities.

A Call to Action for Stakeholders

The seminar concluded with a resounding call for action by Mian Abuzar Shad:

1. Deeper collaboration among financial institutions, chambers of commerce, and policymakers to support women entrepreneurs.
2. Policy reforms to remove barriers to credit and business operations for women.
3. Capacity building programs to enhance the skills and innovation of women entrepreneurs.

Participants lauded the seminar as a critical platform for addressing long-standing challenges and offering actionable solutions to empower women entrepreneurs in Pakistan.