Why it takes more than microloans to empower women and promote sustainable, inclusive economic growth. Nearly one billion women have been completely excluded from the formal financial system. Without even a bank account in their own names, they lack the basic services that most of us take for granted—secure ways to save money, pay bills, and get credit. Exclusion from the formal financial system means they are economic outsiders, unable to benefit from, or contribute to, economic growth. Microfinance has been hailed as an economic lifeline for women in developing countries—but, as Mary Ellen Iskenderian shows in this book, it takes more than microloans to empower women and promote sustainable, inclusive economic growth. Iskenderian, who leads a nonprofit that works to give women access to the financial system, argues that the banking industry should view these one billion “unbanked” women not as charity cases but as a business opportunity: a lucrative new market of small business owners, heads of households, and purchasers of financial products and services. Iskenderian shows how financial inclusion can be transformative for the lives of women in developing countries, describing, among other things, the informal moneylenders and savings clubs that women have relied on, the need for both financial and digital literacy (and access) as mobile phones become a means of banking, and the importance of women’s property rights. She goes on to make the business case for financial inclusion, exploring the ways that financial institutions are adapting to help women build wealth, access capital, and manage risks. Banks can do the right thing—and make money while doing so—and all of us can benefit.

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Women Entrepreneurs offers a collection of almost two dozen cases that explore the process by which women become entrepreneurs, as well as the opportunities and challenges they face in growing their businesses. With a particular focus on the intersection between entrepreneurship and economic development, the cases are drawn from across a range of industries and countries. They offer insights into a number of issues women entrepreneurs face, such as launching a business, diversification and internationalization, as well as covering a number of business functions, including finance, marketing and human resource management. Each case is presented with a summary highlighting the themes it covers, and ends with a set of questions to guide classroom discussion. The book also includes a summary of existing literature on entrepreneurship to help contextualize the cases. This casebook would be the ideal companion in an entrepreneurship class, particularly for students with an interest in female entrepreneurship or economic development. With data from a Goldman Sachs/Lauder Institute study.