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Mary Kay Highlights Efforts to Advance Girls Entrepreneurship Improvement Across the World By means of Impression Partnerships

DALLAS–(BUSINESS WIRE)–Mary Kay Inc., an ardent advocate of girls’s financial empowerment and gender equality, marks Girls’s Entrepreneurship Day in the present day by reaffirming its world dedication to ladies entrepreneurs by means of exterior efforts and partnerships targeted on elevating and advancing ladies entrepreneurship.

An entrepreneurship improvement firm working in practically 35 nations, Mary Kay has empowered ladies and supported their entrepreneurial aspirations for nearly 60 years. The corporate has collaborated with change makers by means of impact-focused partnerships world wide to assist dismantle limitations to ladies’s financial empowerment and speed up ladies’s inclusion within the entrepreneurship eco-system.

POTENTIAL VALUE AND CHALLENGES TO WOMEN ENTREPRENEURSHIP:

Increasing ladies’s financial inclusion lifts households up, strengthens communities, and makes societies extra resilient. Information reveals that girls are inclined to reinvest as much as 90% of their earnings of their households and native communities.1 Analysis additionally reveals that women-owned companies, whereas disproportionately impacted by financial downturns, are resilient, agile, and sustainable.two Girls-owned companies typically reply to crises by means of innovation tackling essentially the most pressing world challenges together with local weather change and biodiversity loss.

Regardless of the proof of the multiplier impact of girls’s entrepreneurship, ladies in enterprise proceed to face obstacles worldwide ensuing from unequal entry to capital, skilled schooling, inclusion within the world worth chain, and entry to markets for his or her services and products. Compounding these limitations are unequal legal guidelines. The 2022 Girls, Enterprise and Legislation Report discovered that just about 2.4 billion ladies of working age nonetheless don’t take pleasure in the identical financial rights as males.3

The challenges are so nice that the 2022 World Gender Hole Report indicated that it’ll take a staggering 151 years to shut the financial participation and alternative gender hole.4

When ladies are excluded from the entrepreneurship eco-system, it means firms and traders are lacking out on an enormous funding alternative. In Europe, for instance, research present that despite the fact that ladies get half the funding capital in comparison with males, their firms ship twice as a lot income for every greenback invested.5

Aligned with its mission to counterpoint ladies’s lives, Mary Kay and its companions are targeted on advancing ladies entrepreneurship and supporting established or aspiring ladies entrepreneurs wherever they dwell.

Recognizing that girls’s empowerment and gender equality are vital enablers and accelerators in attaining the Sustainable Improvement Objectives (SDGs), Mary Kay’s 10-year sustainability technique, launched in 2021 – Enriching Lives Immediately for a Sustainable Tomorrow – is underpinned by a powerful gender equality lens and a key dedication to empower 5 million ladies worldwide by 2030 by means of key initiatives and partnerships. Advancing ladies’s financial participation is just not solely good for sustainable development but additionally ensures that no-one is left behind – a key precept of the 2030 Agenda for Sustainable Improvement.

Impressed by our mission as an entrepreneurship improvement firm based by a girl for ladies, we consider we should spend money on and empower ladies to understand the total advantages of their financial participation not solely on the economic system however on society at massive. We’re remodeling the panorama for ladies entrepreneurs by addressing the limitations they face by means of key partnerships geared toward disrupting the established order,” mentioned Deborah Gibbins, Chief Working Officer at Mary Kay Inc.

NOTABLE ONGOING PARTNERSHIPS TO ADVANCE WOMEN ENTREPRENEURSHIP AROUND THE WORLD INCLUDE:

  • The SDG Pilot Village Venture in China – A Girls-focused Poverty Discount Improvement Venture

    • Recognizing that enhancing the lives of rural ladies is essential to preventing poverty and attaining sustainable improvement, UNDP China and Mary Kay, in collaboration with the Chinese language authorities, the general public sector and NGO companions, launched the SDG Pilot Village Venture in Waipula, Yunnan Province, China in 2017.6 The joint undertaking dismantled the limitations to ladies’s entrepreneurship by means of the supply of social safety and the creation of inexperienced entrepreneurial alternatives supported by efforts to reinforce ladies’s management in neighborhood decision-making fora.

    • Because of this gender targeted undertaking (Section I: 2017-2021):

      • The native poverty charge within the village fell from 28% in 2017 to 0% in 2020.

      • By means of coaching and capacity-building, 60 households and 193 people dwelling underneath the poverty line had been lifted out of poverty by 2020.

      • 210 seasonal migrant employees and 120 long-term migrant employees, the vast majority of which comprised ladies, had been in a position to return house to a job or begin their very own enterprise and be reunited with their youngsters and households.

      • 607 native ladies discovered employment and raised their earnings with some rising as neighborhood leaders, taking on roles as members of the village committee and managers in native hospitality and the humanities.

      • Folks’s per capita earnings grew to be RMB 14,128/$2,107 in 2021.

      • The undertaking superior 12 of the 17 SDGs.

  • The WE Empower UN SDG Problem – Supporting Girls Social Entrepreneurs

  • The Girls’s Entrepreneurship Accelerator

    • In 2019, along with 6 UN businesses, Mary Kay entered the Girls’s Entrepreneurship Accelerator (WEA) with a mission to create an enabling eco-system that works for ladies entrepreneurs.

    • The 6 UN Businesses comprising WEA are: Worldwide Labor Group (ILO), Worldwide Commerce Heart (ITC), Worldwide Telecommunication Union (ITU), UN World Compact (UNGC), the United Nations Improvement Program (UNDP) and UN Girls.

KEY ACHIEVEMENTS THROUGH THE WOMEN’S ENTREPRENEURSHIP ACCELERATOR INCLUDES:

  • Entrepreneurship Coverage Improvement in Mexico and Brazil

    • Over the course of 2020 and 2021, ILO performed and launched a Girls’s Entrepreneurship Improvement (WED) evaluation of coverage situations that influence ladies’s entrepreneurship targeted on the commerce and business sectors in Mexico Metropolis in assist of WEA. The evaluation included a collection of 19 actionable suggestions to deal with the institutional gaps that exist for ladies entrepreneurs. In Brazil, ILO labored with Serviçio Nacional de Aprendizagem Industrial (SENAI) to advocate for ladies’s entrepreneurship improvement by means of a package deal of communication and awareness-raising campaigns, capacity-building workshops and occasions.

  • Launch of the Girls’s Entrepreneurship EXPO

    • In 2021, the primary Girls’s Entrepreneurship EXPO led by UN Girls with the assist of Mary Kay organized a bootcamp throughout the Europe and Central Asia (ECA) area to extend the capacities of girls entrepreneurs to draw funding. This culminated in an Traders Pitch Finale in April 2022 the place 25 ladies entrepreneurs from 9 nations (Turkey, Bosnia and Herzegovina, Georgia, Kazakhstan, Kosovo, Kyrgyzstan, North Macedonia, Moldova, and Serbia) pitched their early-stage startups and enterprise plans to deal with one of many largest challenges ladies entrepreneurs face in rising their companies – entry to capital. Following their pitches, traders provided monetary assist, mentorship and networking alternatives to ladies entrepreneurs to assist scale their companies.

    • This month, the second dwell Girls’s Entrepreneurship EXPO, in partnership with PricewaterhouseCoopers, the European Financial institution for Reconstruction and Improvement and Yildiz Holding, as a part of the Girls’s Entrepreneurship Accelerator and supported by Mary Kay, introduced ladies entrepreneurs and enterprise companions collectively to mobilize and take ahead particular motion to advance the panorama for ladies’s entrepreneurship improvement.

  • Enterprise Abilities Improvement for Aspiring & Established Entrepreneurs

    • The primary-ever free on-line Entrepreneurship Certificates Program developed by ITC SheTrades in assist of WEA was launched in January 2022. Powered by Mary Kay, the 27 modulesdigital resume covers the 7 key levels of the entrepreneurial journey. Obtainable in English, Spanish, French – and shortly Arabic, Russian and Chinese language – the curriculum is enriched with 200 movies and goals to show aspiring and established entrepreneurs the abilities to design and arrange their companies. Members learn to undertake an entrepreneurship tradition, develop enterprise concepts and be taught start-up methodologies, put together a enterprise mannequin, design a pitch, establish sources of funding, discover the appropriate companions and mentors, and construct a workforce.

    • In 2022, ITU developed a undertaking to deal with the gender digital abilities hole By offering ladies and women entry to free, high-quality studying modules required to advance within the digital economic system. Rolled out over the course of 2023, the initiative shall be translated into a number of languages. Supported by Mary Kay, the undertaking consists of 17 on-line modules similar to normal digital abilities coaching for aspiring and skilled ladies entrepreneurs; digital abilities for ladies entrepreneurs within the textiles and attire sector, and administration abilities for ladies entrepreneurs in know-how. These studying modules present broad skilled coaching for any girl entrepreneur no matter her location or enterprise focus.

  • Launch of a World Advocacy Temporary to Interact the Personal Sector on Gender-Responsive Procurement (GRP)

    • In 2022, UN Girls launched an Advocacy Temporary in assist of WEA titled Procurement’s Strategic Worth. Why gender-responsive procurement makes enterprise sense and included a foreword by Deb Gibbins, Chief Working Officer at Mary Kay. The Temporary highlights how economies have higher alternatives to develop and are extra resilient to crises if ladies and men have equal rights. It additionally presents compelling proof of the advantages for strengthening the participation of girls in non-public sector provide chains to result in inclusive development and sustainable improvement. A broad session with 374 stakeholders was performed to create an proof base for why companies ought to undertake GRP.

  • Launch of an Innovation Competitors to Create a Extra Gender-Inclusive Digital Eco-System

    • Supported by Mary Kay, ITU will maintain an open innovation competitors subsequent month the place an professional jury will choose 10 digital greatest practices and digital options to create a extra gender-inclusive eco-system for start-ups and scale-ups to deal with the various obstacles ladies entrepreneurs face in growing applied sciences. The winners will acquire entry to the Digital Innovation Eco-System Program the place they’ll obtain capacity-building and specialised mentorship.

About Mary Kay

One of many unique glass ceiling breakers, Mary Kay Ash based her dream magnificence firm in 1963 with one aim: enriching ladies’s lives. That dream has blossomed right into a multibillion-dollar firm with tens of millions of unbiased gross sales power members in practically 40 nations. As an entrepreneurship improvement firm, Mary Kay is dedicated to empowering ladies on their journey by means of schooling, mentorship, advocacy, networking, and innovation. Mary Kay is devoted to investing within the science behind magnificence and manufacturing cutting-edge skincare, shade cosmetics, dietary dietary supplements, and fragrances. Mary Kay believes in enriching lives in the present day for a sustainable tomorrow, partnering with organizations from world wide specializing in selling enterprise excellence, supporting most cancers analysis, advancing gender equality, defending survivors of home abuse, beautifying our communities, and inspiring youngsters to comply with their goals. . Study extra at marykayglobal.com, discover us on Fb, Instagram, and LinkedIn, or comply with us on Twitter.

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1 Harvard Enterprise Assessment. 2013. “The World Rise of Feminine Entrepreneurs.”

two BNP Paribas Wealth Administration. 2020. “2020 World Entrepreneur Report.” Based on the 2020 Report, 54% of girls entrepreneurs famous that past earnings, decreasing their carbon footprint is their high measure of success in investing, in comparison with simply 41 p.c of males.

3 World Financial institution. 2022. “Girls, Enterprise and the Legislation 2022.”

4 World Financial Discussion board. 2022. “World Gender Hole Report 2022.”

5 European Funding Financial institution. 2020. “Funding ladies entrepreneurs: The right way to empower development.”

6 Companions embody: The China Girls’s Improvement Basis, the China Worldwide Heart for Financial and Technical Exchanges, the Girls’s Federation of Yunnan Province and Yongren County Authorities.

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