On 31 October Manama, Bahrain held The World Entrepreneurs Investment Forum (WEIF). One of its main topics was dedicated to women in industry. Galina Karelova, deputy chairperson of the Federation Council made a report on entrepreneurship innovative development for acquiring the UN Sustainable Development Goals. 

According to Mrs. Karelova, international cooperation contributes to women entrepreneurship development. She highlighted Russia considering that sphere one of the most valuable grounds for acquiring the Sustainable Development Goals. The deputy speaker supposes, that “undoubtedly, today’s women entrepreneurship is the driver of economic development. That is a long-term aspect of national economies’ well-being”. The topic of women’s economic activity is on the global agenda of all the international NGOs. It is also discussed at the international forums. For example, at the 12th summit of G20 The Women Entrepreneurs Finance Initiative was officially launched. In turn, APEC Women and the Economic Forum spearheaded by Russia has held APEC Best Award contest for two years already. 


Senator said, that creating necessary conditions for women entrepreneurship development is one of the main focus areas of National Strategy for Women and Strategy of Small and Medium Business Development by 2030, approved by the Government of Russian Federation. Russian agenda there is creating conditions contributing to the development of women’s business activity, their contribution to economic development including industry, technologies and innovations.


As of today, women make a third of all entrepreneurs in Russia. Also 43% of major companies’ CEOs are female and the numbers are growing. As for Mrs. Karelova, such positive dynamics became possible mainly for actions, dedicated to creating a successful start formula for women-entrepreneurs. It includes access to information, education, finances and outlet markets. 

Thus, Federal Corporation for Small and Medium Business Development, which is the main institute for business development in Russia, designed a free geomarketing resource – business-navigator. That is an efficient instrument for beginning entrepreneurs. It provides data on unoccupied market niches, market potential and financial instruments to start and develop one’s business. Besides, Russia provides women-entrepreneurs with special education and loan programmes. Such actions help women take entrepreneurship to a new level, especially in industry. Deputy speaker also highlighted the fact that Russian economy is gaining momentum. It is both GDP sustainable growth and rapid inflow of investments. Thus, in the second quarter of 2017 GDP growth made 2.4% and the investments made 6.3%. According to Galina Karelova, “we have to support and advance those tendencies. Increasing of investment efforts will help greatly, particularly from the private sector. Thus, women entrepreneurship development is highly important”. 


Mrs. Karelova also mentioned the topic of women’s empowerment in economics will be included in the second EWF agenda. It will take place on 20-21 September 2018 in St. Petersburg. She invited everyone present to participate in it and stated the importance of such events. Galina Karelova finished her report with the following words: “Our communication, exchange of experience and progressive practices will help us collaborate without any obstacles and develop our cooperative projects”. 

Viktoria Yezhova, news agency of the Eurasian Women’s Community

Translated by Nikolay Boykov