Young women as job creators II

Last October 2015 the European Investment Bank (EIB) hosted the 15th Conference of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) which explored the links between private sector finance, entrepreneurship and job creation. And within this analysis it highlighted that, considering that the Mediterranean region will see a large number of new entrants into the labour market by 2025, creating employment opportunities, in particular for young people, is a key priority for the countries of the region. And it was stated that whilst the role of the public sector is essential to further strengthen the enabling infrastructure and regulatory environment to underpin the growth potential, the private sector will be critical to drive employment and job creation. In summary: in order to stimulate growth and employment, the Mediterranean countries need more entrepreneurs. Entrepreneurship is a powerful vector of shared prosperity: the creation of businesses and their growth foster employment and the development of new skills, boost innovation and open up markets. SMEs are the main source of new jobs. And in fact, they already account for some 25% of GDP in the region and up to 80% of the region’s jobs. But for fostering jobs and reaching the economic growth in the region boosting entrepreneurship is not enough: also the integration of women in socio-economic development is necessary. Integrating women in the labour market and empowering them to reach their full potential through entrepreneurship will bring additional talent and innovation to business activity in the Mediterranean region and can significantly raise its GDP.

Author: Union for the Mediterranean / Association of Organisations of Mediterranean Businesswomen

September 2016