Why young entrepreneurs are missing from VIPs

2024-06-30 08:40:00, Aktualitet CNA

Why young entrepreneurs are missing from VIPs

Illustrative photo, taken from Google

While years ago it was difficult for a female entrepreneur to start a business that generates millions in revenue, it is now simply impossible.

40% of the companies on the list of the largest female entrepreneurs, which have at least one female shareholder, were founded two decades ago or more.

The average age of the 76 women resulting in full or partial ownership in the list of the 500 largest private enterprises in the country by annual turnover in 2022 is 49 years old, according to data processed by "Monitor".

75% of the shareholders on the list are over 40 years old. The dominant age group is 50-59 years old, which accounts for 30% of the total number of female shareholders.

Only 9% are less than 30 years old. All female entrepreneurs under 30 have their shares inherited from the family.

Why is it so difficult for a woman to manage a big business in Albania?

"Women in careers and business face great challenges at the local and global level: numerous studies talk about women's low access to finance compared to men, the lack of institutional support, gender discrimination, while in the districts, women's challenges are also more complex", says Antonela Hako", - president of the Women's Economic Chamber.

“Challenges are not your enemy – your enemy is failure to take control of the mindset of addressing challenges or learning from them.

Each challenge holds the seed of the next achievement; every limitation is an invitation or an opening to think creatively about a new solution and to strengthen your will to realize it", advises Albana Vrioni, leader of "Woman on Board".

Ms. Hako from the Women's Economic Chamber suggests creating special policies to support young people, using schemes to encourage startups, or by subsidizing or exempting them from taxes in order to contribute to the country, avoid emigration and adding new jobs for young people.

Source: KKB

In particular, it proposes the creation of incentive funds for women starting in business, as well as allocating budget from the category of subsidies for the stimulation of women entrepreneurs.

"The state in cooperation with donors and foreign and domestic associations should organize campaigns for the promotion of women entrepreneurs".

“When a woman succeeds as an entrepreneur, she develops her family and community while helping to diversify the economy and create jobs.

This is why it is important to support women in business, promote equality in the workplace and challenge gender stereotypes", says Fiona McCluney, Permanent Coordinator of the UN in Albania.

"The environment for doing business and being a successful entrepreneur has changed 360 degrees. Even the conditions to start an activity have become simpler.

Society has progressed and there is no division between women and men", emphasizes Kristina Papa, CEO of "Intercom", the main distributor of the ONE mobile phone company, which started the activity in 2001 and is the sole shareholder.

But, she adds that even though the business environment has improved significantly and it is easier for a woman to be a successful entrepreneur, today there are not many stereotypes about her empowerment.

"With passion, work, discipline and sacrifice everything is possible. There is no elevator that leads to success, except for stairs that are actually tiring, but inevitable", says Vojsava Bardhi, co-founder of the agency "Sava Tours".

"Our region has an excellent generation of young women whose level of education is significantly higher than in previous generations.

Recognizing their potential and giving them financial opportunities to support their employment or entrepreneurial initiatives can be, I say without shame, the key to transforming our region", says Majlinda Bregu from the Regional Cooperation Council, based in Sarajevo./ Monitor.al