Visa has launched the “She’s Next” program to support women entrepreneurs and foster inclusive growth. The program has dedicated around $3 million to fund over 250 grants and coaching opportunities for women small business owners since 2020. Winners receive a $50,000 grant along with customized training and technical assistance to improve their business and digital skills.
The article spotlights several innovative entrepreneurs who emerged as winners of She’s Next in the GCC region. Maya Habib, founder of The Guilt-Free Kitchen in Qatar, produces gluten-free and minimally processed baked goods. Winning the competition allowed her to increase production capacity and invest in facilities, leading to a franchise agreement in Saudi Arabia.
Yuser Al Mutawa and Yasmeen Alkandari, co-founders of SEEDS Co in Kuwait, offer consultancy, training, and workshops focused on green buildings and sustainability. They are currently engaged in a major sustainable project at Kuwait International Airport’s new terminal and have secured a key project in Saudi Arabia’s Tabuk region. Alia Alghobeen founded PTWay in Saudi Arabia, creating an employment framework for part-time workers.
The platform now hosts over 2,800 active companies and around 300,000 part-time job seekers. Winning the She’s Next initiative enhanced Alghobeen’s confidence and visibility, leading to collaborations with ministries and local banks, and securing investment for a new project, PayWay. Yasmeen Al Alawi started Sprout, a popular health food café in Oman, after noticing a lack of healthy food options.
The She’s Next initiative provided a significant boost for her business, allowing her to reinvest the prize money into operations, hire a marketing expert, and plan for additional locations and expanded corporate catering services within the GCC region. Aida Al Mudaifa, founder of Early Riser in Bahrain, produces healthy granola and nut butter. Participating in She’s Next greatly benefited her business, enabling her to expand operations smoothly, implement automation, and branch out to other retailers without the need for personal funds or loans.
she’s Next grant winners thrive
She’s Next is a global advocacy program committed to expanding opportunities for women-owned small businesses through funding, training, and mentorship. Winners in each country have the chance to receive a $50,000 grant, an exclusive mentorship program, and access to on-demand content and trainings, among other resources.
Visa is reminding women business owners in Louth, Ireland, to enter the She’s Next Grant Programme, which offers the chance to win one of five €10,000 grants and a year of business coaching. Applications are open until 21 July 2023. A recent report by Visa found that the main challenge faced by women business owners is access to capital (47%), while for men, the primary challenges are marketing and lead generation (43%).
The report also revealed that 93% of men feel very or completely confident when it comes to evolving their businesses, compared to 71% of women surveyed. Mandy Lamb, Managing Director UK & Ireland at Visa, emphasized the importance of campaigns like She’s Next in addressing the barriers that women-led businesses face and empowering women through funding, expertise, and coaching. The She’s Next Grant Programme, in partnership with IFundWomen, is open to small businesses and organizations in the Republic of Ireland that are majority-owned by women, operating across all industries and sectors.
Applicants are asked to submit details about their business and online presence, with the closing date being 21 July 2023. Applications are invited under five different categories: Micro Business, Early-stage Business, Small Business, Changemakers, and Innovation and Technology. A new study has revealed that 42% of women who are small firm owners struggle to balance family and caregiving responsibilities with business, compared to 28% of men who also own their own businesses.
The survey also found that 48% of women entrepreneurs said their business couldn’t survive without family support, versus 32% of men. When it comes to accessing funding and venture capital, men are twice as likely as women to have sourced and secured investment for their business. Women are also more likely to face unfavorable terms and conditions following pitching for funding.
The research also found that increased access to business mentorship was the most valued resource cited by the small businesses surveyed, referenced by more than half. However, just one in five said they currently have a business mentor.
