WOMEN IN BUSINESS EXCHANGE IDEAS ON THEIR ROLE IN ECONOMIC RECOVERY
Buy local and support black owned businesses was the strong message that emerged from a women in business engagement that was hosted on March 25 March by Ithala Development Finance Corporation (IDFC) Group Chief Executive, Pearl Bengu.
The event, which focused on driving the role of women in the KZN economic recovery plan, sparked in depth discussion of funding opportunities available to women entrepreneurs, property solutions and the need for support to ensure the success of local enterprises.
It was attended by women in business – including a female owner of a service station, a female owner of a confectionery manufacturer as well as a woman who owned a clothing brand. Panels made up of women entrepreneurs shared practical insights into the role of women in economic recovery and highlighted the need for local consumers to not only buy local but actively support black owned businesses.
During the open discussion, business women shared challenges facing their businesses as a result of Covid-19. A few entrepreneurial ventures which needed particular intervention were identified, including a woman-owned entity with a patent to manufacture sanitary towels, with a firm market already in place.
A representative of Department of Trade, Industry and Competition who attended this event reiterated the department’s support for women in business.
A follow up session with women in manufacturing, construction and mining will be held soon together with DTIC.
A plan is being put in place to promote this upcoming engagement to ensure maximum participation and impact.
A buy local campaign is also being considered to boost women owned and black owned business as this is critical to ensuring that IDFC funded clients benefit from economic recovery within the province.