INTEGRATING WOMEN BUSINESS ENTERPRISES IN GLOBAL VALUE CHAINS
8TH WECONNECT INTERNATIONAL ANNUAL FORUM IN MEXICO
WEDNESDAY, SEPTEMBER 25TH, 2019
FOR IMMEDIATE RELEASE
MEXICO CITY, CDMX, September 20th, 2019 – A record number of large corporations will attend the 8th WEConnect International Annual Forum in Mexico on September 25th, 2019 at the Sheraton Maria Isabel hotel in Mexico City to engage with Mexican women-owned businesses to increase their access to global value chains.
“Since its launch in 2012, WEConnect International in Mexico has become one of our largest in the world with nearly 900 Women-Owned Businesses in the network,” explains Elizabeth A. Vazquez, CEO and Co-founder of the Washington, D.C. based non-profit. “And that does not come as a surprise,” Vazquez adds. “According to Mexico’s Ministry of Finance and Public Credit, three out of every five small to medium-sized businesses in Mexico are led by a woman.”
Globally, these businesses receive less than 1% of all the money spent by corporations and the numbers are not much different for Mexico. Regardless of the recognized importance to invest in women entrepreneurship, their access to market is significantly limited.
The record number of buyers attending The Forum in Mexico highlights the desire of large corporations to change this paradigm. “As a large organization you can candidly want your workforce to be gender diverse,” Vazquez says, “but this strategy falls short of its objective if diversity does not apply to their global supply chains,” she adds. “And how much a government, or an economy, invests into women economic empowerment does not matter if women entrepreneurs are kept from selling what they create.”
The event will feature more than 17 multinational corporations like Exxon Mobil and SAP in Mexico that will participate actively in one on one meetings with Mexican women business owners as well as in discussions about best practices on inclusive sourcing, the solutions to access the automotive industry, and the empowerment of women through technology, “Technology is changing procurement processes, focusing more on diversity and transparency. However, less than 6% of Mexican SMEs are investing in cloud solutions to run their businesses, making it difficult to join global value chains,” says Raquel Macias, Vice President, Corporate Affairs & CSR for SAP in Mexico. “Of these SMEs, 50% are led by women so they face additional challenges and that's why we support WEConnect International, to accelerate women-owned businesses digitalization and increase their participation in global value chains,” she adds.
“We need to put cash in the hands of women by recognizing their growing participation in the industry and service sectors,” Vazquez says. “While we are satisfied to witness the active efforts of international corporations to make it happen, we will make real progress when major local buyers decide to fully support the Mexican women-led economy.”
About WEConnect International
WEConnect International helps women-owned businesses succeed in global value chains. It identifies, educates, and certifies women's business enterprises based outside of the U.S. that are at least 51% owned, managed, and controlled by one or more women, and then connects them with member buyers. WEConnect International members represent over US$1 trillion in annual purchasing power and a commitment to supplier development and inclusive sourcing. The result is a network of corporate buyers working with women business owners based in over 115 countries that are learning, collaborating and winning new business.
For Media Inquiries and to Attend the 8th WEConnect International Annual Forum in Mexico, please contact:
Alicia Sierra Morales | WEConnect International | Office: +52 (55)26242858 | Mobile: +521(55)91957948 |