Encouraging women to act as owners means encouraging more women to work, take charge of the governance and create more financial and social values, said Assoc. Prof. and Dr Truong Thi Nam Thang (Photo: VNA)Hanoi (VNA) – Women make up about half of the world’s population and contributeto society’s well-being as well as the economy, said Assoc. Prof. and Dr TruongThi Nam Thang, Director of the Centre for Social Innovation andEntrepreneurships at the National Economics University.
Belowis an interview about the role of businesswomen and the firms they run that Thanggave to Vietnam News Agency recently:
What is the role of femaleentrepreneurs and women-owned enterprises in an economy?
Simply,they are half of the world and half of the workforce in Vietnam. They contributeto the well-being of society as well as the economy by generating jobs,providing products and services, creating shareholder value, and reinvesting inthe economy like any businesses do.
Theytend to support ethical business practices; therefore, encouraging women tobecome entrepreneurs and engage in leadership can promote ethical businesspractices and corporate social responsibility.
Male-owned enterprises still accountfor the majority while women make up half of the population. Is encouragingwomen to start businesses an important factor to promoting the start-upmovement that Vietnam is pushing?
Thenumber of women-owned firms is very small compared to those owned by men,although the figure in Vietnam is better when considering many other countriesin the world.
Vietnamis a country where gender equality has been promoted, as seen through the factthat women are free to work. The only problem is that society has just let themdo small-scale work without big influence.
Atforeign-invested businesses and international organisations, Vietnamese womenare highly valued by their colleagues because they work very hard and balancetheir role in their families and at the workplace well. It is noteworthy thatthe rate of women recruited and promoted at foreign businesses in Vietnam isvery high compared to other organisations and businesses.
Definitely,encouraging women to start businesses is crucial in the current start-upecosystem. According to my study, at companies with female head of the boardsof directors, the number of female members of boards of directors and managingboards is also much bigger and the company turns to perform better financiallythan other firms. It is obvious that encouraging women to act as owners meansencouraging more women to work, take charge of the governance and create morefinancial and social values (since they are more active in charitable work).
Which difficulties do women facewhen starting and running businesses?
Vietnamesesociety still holds a bias that women should focus on taking care of theirfamilies and children. Due to their education from an early age and society’snotions, women usually feel guilty about beingsuccessful, so they do not dare to think big or act bold, and they just dosmall-scale work.
In terms ofpersonality, they are generally too meticulous and seek perfection. Hence, theyoften work on their own and do not delegate work to others.
There is also bullying in the workplace, aphenomenon facing many businesswomen while working with partners, individualsor organisations, especially men. These partners include suppliers who thinkwomen are less capable of mastering technical expertise or dealing with consumersor business partners.
Even women, althoughthey have the same gender, sometimes do not support each other.
Which advantages do women have whenthey run businesses?
They have good endurance and resistance to stress, goodcustomer service, and skill in resolving crises. Women-owned enterprises oftenactively engage in social responsibility activities, charitable work, andimprovement of living standards, which is useful for building business brands.
TheVietnamese Government has shown determination to support women to startbusiness, as seen through Prime Minister Nguyen Xuan Phuc’s commitment toassist businesswomen, the 2017-2027 plan on support for female start-ups of theVietnam Women’s Union Central Committee, or the inclusion of women-owned firmsin the Small- and Medium-sized Enterprises (SME) Support Law. What do you thinkabout these moves?
I appreciate these moves, which have taken the lead indeveloping the start-up spirit among women by providing funding and promotingtheir role in the economy and in society. However, the Vietnam Women’s Union shouldorganise more substantive programmes instead of simply pursuing movements likein the past.
It is reasonable that the SME Support Law, approved in June2017, prioritises women-owned businesses if different companies meet allcriteria for receiving support. Nevertheless, I’m still waiting for a decree onthe law’s implementation guidelines to see how the law is enforced.
Thankyou very much! -VNA
VNA
