Economic Empowerment Award

The Economic Empowerment Award celebrates organisations that have implemented impactful strategies to advance women’s economic empowerment through entrepreneurship and enterprise development. Economic empowerment, in this context, refers to enabling women to achieve financial independence, overcome poverty, and improve their well-being by establishing and growing their own businesses or accessing equitable opportunities within supply chains. By fostering women’s entrepreneurship, organisations not only drive economic inclusion but also contribute to sustainable development, creating a ripple effect that benefits families, communities, and future generations.

Women entrepreneurs are powerful drivers of change, bringing innovative perspectives and a long-term focus on sustainability that accounts for the well-being of current and future generations. This award recognizes organizations that have either developed forward-looking strategies to empower women-owned or managed businesses or have successfully implemented enterprise development programmes that deliver measurable outcomes. It also honours organisations that actively source products and services from previously underutilised women-owned suppliers, enabling growth-oriented women entrepreneurs to scale their businesses and serve diverse corporate clients.

Criteria for Entries

To ensure entries align with the award’s objectives, submissions should provide detailed, evidence-based information addressing the following criteria:

1. Strategies for future empowerment of women-owned or managed businesses
   • Describe specific strategies or programmes designed to support the establishment, growth, or sustainability of women-owned or managed businesses.
   • Examples may include funding initiatives, business incubators, mentorship programmes, or partnerships with organisations that promote women’s entrepreneurship.
   • Provide a clear timeline, measurable goals (e.g., number of businesses supported, funding allocated), and plans for monitoring and evaluating progress.
     
     
2. Enterprise development programmes for women
   • Detail initiatives that have successfully used enterprise development to empower women-owned or managed businesses.
   • Examples may include training in business management, access to markets, provision of resources (e.g., technology, infrastructure), or capacity-building programmes tailored to women entrepreneurs.
   • Provide evidence of impact, such as the number of businesses launched or scaled, revenue growth, jobs created, or specific success stories of women entrepreneurs.
     
     
3. Sourcing from women-owned suppliers
   • Describe efforts to integrate women-owned or managed businesses into the organisation’s supply chain, particularly those previously underutilised.
   • Provide data on the number of women-owned suppliers engaged, the value of contracts awarded, and the types of products or services sourced.
   • Highlight how these efforts have enabled women entrepreneurs to grow their businesses, access new markets, or achieve financial stability.
     
     
4. Broader impact on economic and sustainable development
   • Explain how the organisation’s initiatives contribute to women’s economic empowerment and broader societal benefits, such as poverty reduction, community development, or environmental sustainability.
   • Provide examples of how supported women entrepreneurs have driven change, such as creating jobs, adopting sustainable practices, or improving community well-being.
   • Include measurable outcomes, such as economic indicators (e.g., income growth, job creation) or sustainability metrics (e.g., reduced carbon footprint, community investments).
     
     
5. Guidance for Strong Entries
   • Be evidence-based: Use quantifiable metrics (e.g., number of businesses supported, contract values, economic outcomes) and concrete examples to demonstrate impact. Avoid vague or anecdotal claims.
   • Emphasise systemic impact: Highlight how strategies or programmes are designed for scalability and sustainability, creating lasting change for women entrepreneurs.
   • Show transformative outcomes: Connect empowerment efforts to tangible benefits for women, their businesses, and their communities, emphasising economic and social progress.