Standard Chartered Bank Launches Women's Empowerment Initiative

Women entrepreneurs across the world who face hurdles to funding and networking opportunities will benefit significantly from a new programme introduced recently by Standard Chartered Bank.

The Standard Chartered Women's International Network has been launched as a complimentary programme for all Standard Chartered Bank business banking clients whose organisations are managed or controlled by women.

Key Features of the Initiative:

Unsecured Loans: Women entrepreneurs can apply for unsecured loans of up to $500,000 with the option of repaying in set payments over a maximum of 60 months. They are only needed to pay the interest on the loan for the first six months.

Addressing Collateral Issues: The programme intends to address the prevalent issue of collateral restrictions, which frequently prevent women-owned enterprises from obtaining bank financing.

Global Networking and Business Support: Participants obtain access to worldwide networking opportunities as well as help on starting and building their companies in Standard Chartered Bank's operating regions of Asia, Africa, and the Middle East.

Global Expansion: While the programme has already begun in India, Kenya, and Malaysia, it will gradually expand to other areas.

Standard Chartered Bank has teamed with the Singapore Business Federation (SBF) to extend the programme to the 524 members of the Singapore Women Entrepreneurs Network in Singapore. This collaboration was revealed at a celebration of the SBF network's second anniversary.

E-Business Training: Beginning in early 2024, the SBF will also give e-business training to about 240 women entrepreneurs from diverse smaller enterprises in Singapore. The Asia-Pacific Women's Information Network Centre has appointed SBF to undertake a training programme targeted at improving the e-business and information technology competency of ASEAN female-owned micro, small, and medium-sized firms.

Ongoing Support: The Singapore Women Entrepreneurs Network continues to provide its members with assistance through a variety of programmes, including a six-month entrepreneurship course and a peer support group for female entrepreneurs.

Growing Female Entrepreneurship: According to Communications and Information Minister Josephine Teo, one in every four Singapore entrepreneurs is now a woman, up from one in every five in 2016. Minister Teo emphasised that women in Singapore now have more possibilities to explore business than ever before.

"Today's women in Singapore have many more choices, and when they pursue entrepreneurship, it is not just about fulfilling their own aspirations," Minister Teo added. It is also about having a greater social influence."

The Standard Chartered Women's International Network is positioned to make a substantial difference in assisting female entrepreneurs in Singapore and abroad.