When asked about what she thought was key in advancing women’s rights, Cherie Blair, lawyer and founder of the Cherie Blair Foundation for Women, replied, “I believe that actually financial independence is very important so we need a financial framework that recognizes women as equals, that enables them to have access to finance, access to capital to have their own financial independence.”
And this brings to the table another question: What are the hurdles that women face when trying to access capital?
For many women entrepreneurs across the world, getting a loan to start or expand their business can prove challenging. This is particularly true in the developing world where banks often require borrowers to pledge their home or land as collateral. Women, who tend to lack such assets, are placed at a disadvantage. Legal restrictions on women’s property rights can exacerbate the problem.