Needs Assessment on Financial Instruments for Women-Owned Micro, Small and Medium-Sized Enterprises (MSMEs) in Saint Lucia

Author(s)/editor(s)

(Authors): Carlos César Yammal and Pilar María Llorvandi, (Editor): Dr. Robin Haarr, PhD UN Women, Senior Consultant

Latin America and the Caribbean (LAC) has the second-highest failure rate of women-led businesses. Women entrepreneurs disproportionately operate microenterprises with no or few employees in low growth sectors, utilizing little technology and innovation. This is a result of women’s limited access to capital and
gender-neutral lending practices and requirements, and the disproportionate burden of unpaid care work, which can cumulatively create obstacles and disincentives to entrepreneurism.

UN Women MCO – Caribbean is actively engaged in leveraging capital for public and private investment in gender equality, inclusive growth and resilience building across the LAC region, where there still exists a significant credit gap of USD 93 billion for women-led small and medium-sized enterprises (SMEs).

This needs assessment aims to promote gender equality and support entrepreneurship, and contribute to the creation of a more inclusive and robust entrepreneurial environment in the Caribbean region. Findings from this assessment can be used to develop the most suitable financial solutions that strengthen women’s economic empowerment and builds public and private investment in wider gender equality.