SG-WEN Celebrates 2nd Anniversary with Elevated Support for Women Entrepreneurs
The Singapore Women Entrepreneurs Network (SG-WEN), a network established by the Singapore Business Federation (SBF) commemorated its second anniversary milestone at the NTUC Business Centre today. The network aims to bring together women entrepreneurs in Singapore and connect them with other women entrepreneurs, business leaders and trade associations in the Asia-Pacific, especially within ASEAN.
The SG-WEN second anniversary event was graced by Minister for Communication and Information and Second Minister for Home Affairs Mrs Josephine Teo, who applauded SG-WEN's role in providing an inclusive and supportive network for women entrepreneurs. Minister Teo emphasised the government’s continued support for growing start-ups, developing entrepreneurs, and supporting women’s development.
Mr Kok Ping Soon, Chief Executive Officer of SBF, said, “SBF recognises the immense potential and contributions of women entrepreneurs in driving economic growth and innovation. With the support and hard work of the SG-WEN Exco chaired by Ms Rachel Eng, SG-WEN has expanded its offerings and outreach to provide greater support, resources, and opportunities for women entrepreneurs to collaborate, empowering them to thrive in the business sector and further contribute to the development of ASEAN economies.”
At the event, SBF announced its partnership with Standard Chartered Bank on the launch of its Standard Chartered Women’s International Network (SC WIN), which will offer SG-WEN members tailored financial solutions, business education and opportunities to connect to a global network with like-minded entrepreneurs. Through collaboration initiatives, workshops, and events, SG-WEN and SC WIN will equip its members with the knowledge and connections needed to navigate the complexities of international markets and achieve greater success in their business.
SC WIN supports women entrepreneurs in three fundamental areas – Scale, Connect and Belong.
- Women entrepreneurs can scale their businesses by gaining access to the capital they need to expand and grow their businesses with Standard Chartered’s holistic financial solutions, such as flexible repayment options on business loans to help them manage their business cash flow.
- Women entrepreneurs have the opportunity to connect, build a global business network and benefit from its footprint in Asia, Africa and the Middle East. Through collaboration with like-minded partners such as SBF, women entrepreneurs have the platform to connect, creating a supportive ecosystem to propel their businesses forward.
- Through SC WIN, women entrepreneurs are empowered to develop business skills through access to Mastercard Academy’s ‘The Entrepreneur Odyssey’ educational platform. Modules from Harvard, INSEAD, Wharton are made available to grow invaluable business skills.
Since its inception in 2021, the number of SG-WEN members has grown to more than 500. Over the past two years, SG-WEN has partnered various like-minded stakeholders to boost the outreach of its programmes and connect its members to more business opportunities. Three key initiatives of SG-WEN:
- The Academy for Women Entrepreneurs (AWE) - In May 2022, SG-WEN partnered the U.S. Embassy Singapore on the AWE Singapore programme to provide a free 6-month entrepreneurship training for SG-WEN members. The training included helping aspiring women entrepreneurs build core business skills like strategic planning, marketing, and financial management. Attendees also participated in a pitch competition to test the viability of their business proposals.
- The Entrepreneurs Circle - Conceived as a peer support group for women entrepreneurs to help them grow and elevate to the next level, a pilot group for the food and beverages sector was started in January 2022. The Entrepreneurs Circle provides a forum for women entrepreneurs to meet regularly, network, exchange experiences and share knowledge with each other.
- The AWEN Awards - In 2022, SG-WEN facilitated the attendance of five award winners from Singapore at the ASEAN Women Entrepreneur Network (AWEN) Awards, which recognises the significant contributions made by women entrepreneurs in ASEAN member states. SG-WEN is the designated Singapore representative at AWEN, a network of national-level women entrepreneurs and business associations from ASEAN member states. SG-WEN represents, and help advances Singapore’s interests at AWEN to help women entrepreneurs in Singapore expand into the region through knowledge sharing and networking.
Ms Rachel Eng, Chairperson of SG-WEN, said, “I am heartened to see how much SG-WEN has accomplished and grown over the past two years in advancing the interests of our female entrepreneurs. We will continue to advocate for, equip and provide a conducive environment to support more women entrepreneurs overcome their business challenges and succeed in Singapore and beyond.”
Ms Jessie Li, Managing Director and Head of Consumer, Private and Business Banking at Standard Chartered Bank Singapore, said, “The SG-WEN community has grown from strength to strength, and we are delighted to play a part in contributing to its further development by offering SG-WEN members equitable access to financial services and new opportunities to connect and grow through our newly launched Standard Chartered Women’s International Network in Singapore. As an international bank committed to advancing financial inclusion and lifting participation, we look forward to supporting women entrepreneurs with tailored banking solutions, financial education and opportunities to connect to a global network of like-minded entrepreneurs.”
SBF has also been appointed by the Asia Pacific Women Information Network Center (APWINC) as the Singapore implementing institution for the "Enhancing Digital Economy Participation for ASEAN Women MSMEs” (IDEAS Project). The project builds on ASEAN’s commitment to women’s economic empowerment and aims to strengthen the e-business and ICT competency of ASEAN Women micro-SMEs through training. SBF will be conducting e-business training for more than 240 women entrepreneurs from Singapore MSMEs from the first quarter of 2024.
