Workshop on Enhancing Womens Entrepreneurship in SEE Sarajevo, 1 st October 2009 The Womens Entrepreneurship Academy

Female entrepreneurship advanced in the post – communist period Entrepreneurship as a way of life 20% SMEs (16.000) registered by women (official data) Only SMEs own and managed by women (real picture) 88% micro business 10 % of small enterprises 2% of medium sized companies 0,5% of large sized business units

Non – governmental organization, actively working in the area of economic empowerment of women since 2006 Developed training program for female entrepreneurs in business management, marketing, finances, motivation and personal capacity building called Step by step to your business Assisting local governments in Vojvodina in fostering womens entrepreneurship in their communities (e.g. Business Incubator in Backi Petrovac 2009) Model of the Academy implemented within Bihac Chamber of Commerce in 2007 Co-author of the program of guarantees of the Guarantee fund of the Autonomous Province of Vojvodina Initiated establishing the womens entrepreneurship section within Serbian Chamber of Commerce in 2006

Mini five years of experience in business Higher level of education Married with two children earlier employed in state/ public company Motive for starting own business: Better living conditions Independence and freedom Services, retail Initial capital: savings, financial support from family members, friends Competence – key aspect when starting business Dedicated to work, min 12 hours at work Aactive search for new information Satisfied with incomes although could be more Success in business depends on work, persistence and personal involvement Successful female entrepreneur is recognized by close environment

Qualification Highly qualified women with university degree or higher education (50% of respondents) Age Older (39 – 49 years old) so called new womens entrepreneurs Younger (38 years old and younger) from families with tradition in entrepreneurship Type of business traditional female jobs (retail, services, booking and financial services, foreign language schools etc) Size of business Small, low profitable business (bakery, meet processing, production of cement, sugar stick packaging, car wash services etc.)

To earn money, to support their families To prove their own abilities, to have independence and freedom in decision - making, in choosing collaborators, To harmonize work and family commitments more easily

family responsibilities lack of initial capital stereotypes in attitude of local community lack of courage to enlarge existing businesses access to information on loans and other forms of support for entrepreneurs

REGIONAL NETWORKING First International Conference of Women in Business – Business Powered by Women, held in Novi Sad, in June 2007 ACCESS TO FINANCING Guarantee fund of the Autonomous Province of Vojvodina CAPACITY BUILDING The Womens Entrepreneurship Academy