By Anna Leah G. Estrada | Posted on Jul. 16, 2013 at 12:01am | 378 views

The United States Embassy and the Samahan ng mga Pilipina para sa Reporma at Kaunlaran launched Monday a project that will provide more opportunities to young women entrepreneurs in the Philippines.

The project, dubbed the Young Women Entrepreneurship Boot Camp 2013, aims to provide more opportunities for young women entrepreneurs through a series of lectures by successful businesswomen and other experts.

The three-day seminar workshop will be held on Sept. 23 to 25 to help encourage more women to participate in the economic sector.

“Countless studies have shown that countries that encourage economic participation and entrepreneurial activity from women tend to do better overall. We need to empower more women to do business,” said Spark Philippines president Mel Alonzo.

A study by the Asia Foundation for the Asia-Pacific Economic Cooperation showed the Asia-Pacific economy could grow by $89 billion annually if women reached their full economic potential.

The study also showed that SMEs represent 96.6 percent of all registered businesses in the country, accounting for 32 percent of the GDP and employing 70 percent of the workforce.

The study said while businesses run by Filipino women account for 40 percent of entrepreneurial activity, enterprises run by men tended to experience better growth.

“Entrepreneurship is really taking off in the Philippines. Women need to be included in economic activities in order for countries to truly experience development and peace,” said US Embassy economic officer Katy Bondy.

“Economically empowering women is something that President Barack Obama believes in. We believe that if we empower women we also empower the entire economy. These are exciting times for the Philippine with the economy doing well,” she added.