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Women's Day Highlight, Unleashing Her Potential: Empowering Women Entrepreneurs in Cambodia

Sophea is an HR manager at a factory in Cambodia. She has worked with CARE for many years to improve their sexual harassment policy and ensure cases of harassment are resolved properly. ©2020 Jenny Conrad/CARE

Sophea is an HR manager at a factory in Cambodia. She has worked with CARE for many years to improve their sexual harassment policy and ensure cases of harassment are resolved properly. ©2020 Jenny Conrad/CARE

March 7, 2024

Let’s celebrate this year's International Women’s Day by acknowledging women’s contribution, amplifying their voices and acceptance of their impact because when She Leads, Change happens.

Despite considerable progress over recent decades, women in Asia continue to encounter substantial obstacles to entrepreneurial success. Micro, Small, and Medium Enterprises (MSMEs) form the economic backbone of the country, representing 97% of all enterprises and accounting for 69% of the workforce, and the growth potential is immense. However, societal norms and limited resources and access restrict women’s full participation and business expansion opportunities. Bridging this gender gap in entrepreneurship could unleash billions in regional GDP and create millions of new jobs.

In Cambodia, women entrepreneurs play a pivotal role in the economic landscape where MSMEs constitute 99.8% of its businesses and account for 58% of GDP, 60% of these enterprises are women-led, yet remain predominantly micro-sized and informal. Sovattha Neou, CARE Cambodia’s Country Director, highlights the critical challenge of access to finance, especially for rural and micro-entrepreneurs, which hampers their ability to grow their businesses and improve their livelihoods. “Rural youth and micro-entrepreneurs, constrained by limited mentorship opportunities and access to training and social protection, face substantial challenges. To mitigate this, we collaborate with partners to facilitate access to financial literacy and other support through partnerships with local NGOs and enhance women’s skills for effective utilization. Enhancing women’s access to finance supports their activities in the market, their living expenses and business venture and most importantly empowers their entrepreneurial skills set.” she explains.

Empowering Cambodia Women Entrepreneurs Through Networks and Role Models

In Cambodia, women-owned micro and small businesses face challenges in regulation and legal processes in accessing locations and services needed for business operations. Gender roles and societal expectations traditionally limit opportunities for women as well. Female entrepreneurs often face more insecure funding and a lack of mentoring when making decisions to launch their businesses, if compared to male counterparts. Socio-cultural norms impose certain constraints on women’s role in decision-making in the community with more collateral to males and provide less space for women’s voices to be heard.

Before joining a VSLA, Vibol stayed home with her baby. She wanted something which would earn her income so they could save more, because her husband's salary was not enough. She took out a $50 loan to set up a small grocery stall beside the local school. Now she can earn $50 a week and saves up to $12.50 each week in her VSLA. She recently used her savings to build a bathroom for their home.

CARE Cambodia works on projects to enhance women’s agency and capacity for training in financial concepts, leadership skills, and advocacy for equal voices, labor, and social rights. In Asia, CARE focuses on empowering women by enhancing their access to employment opportunities and economic growth. Our key programs include micro-savings for financial inclusion, offering women a secure way to save, access loans, and obtain emergency insurance. We also prioritize creating dignified work opportunities, ensuring women can earn income equally and access fair employment opportunities.

CARE champions women and girls, putting them at the heart of all we do. As the year celebrates International Women’s Day, CARE places our emphasis on the diverse tapestry of women leadership, from board room to classroom, from entrepreneur to community volunteer. Let’s celebrate this year’s International Women’s Day acknowledging women’s contribution, amplifying their voices and acceptance of their impact because when She Leads, Change happens.

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