Women play an important role in the economic development of Honduras, with females owning 42% of small businesses, and 30% of medium-sized ones. However, their total sales amount to only half of what their male counterparts earn, and a majority of their businesses remain informal. For women-led enterprises, access to finance and business development services remains limited, limiting their business performance, and growth.
IDBG, with support from We-Fi, will contribute to the growth of women-owned and led small and medium-sized enterprises (WSMEs) in Honduras, through providing business development services, particularly focused on digitization. The project will also focus on promoting a more supportive enabling environment for businesswomen to operate in.
Business Development Services: This component will finance the design and implementation of a digital platform for strengthening business processes and providing WSMEs with greater market access. Online and face-to-face seminars will be held for 3,500 businesswomen, to improve their soft and digital skills. A select group of 810 high-growth potential WSMEs will be selected for additional wraparound services, including technical assistance and mentoring. Priority will be given to women from rural or low-income areas, as well as indigenous and Afro-descendent women.
Strengthening the enabling environment: IDBG will identify key growth obstacles faced by WSMEs and will recommend policy instruments to address such gaps. The program will also facilitate dialogue on policies needed to improve WSMEs’ access to finance and business development support, as well as developing a safer environment for women to work in.