KATHMANDU: Stakeholders at the New Business Women Summit and Awards 2024, organized by New Business Age Pvt Ltd, highlighted that women entrepreneurs face more challenges than their male counterparts.

During the event, Padmakshi Rana, Executive Director of Impact Hub Kathmandu and a speaker in the panel discussion on 'Strengthening Women's Business Leadership,' pointed out that women face significant hurdles, especially in gaining financial access.

"The biggest problem women entrepreneurs face is financial access," she said. "Challenges begin right from the creation of a business plan." Rana also mentioned generational and gender-related issues, such as difficulties with documentation, registration, and communication.

Swastika Shrestha, CEO of Teach for Nepal, shared insights from her 12 years of experience in the education sector. She noted that there has been no significant improvement in SLC results over the years, with around 60 percent of students failing in the past and 80 percent of students still attending public schools, a large number of whom are girls.

"In our society, sons receive institutional education while daughters are given formal education," Shrestha said. "This disparity lowers the morale of girls in public schools, affecting their personality and leadership development, and limiting their potential to become entrepreneurs or leaders." She emphasized the need for educational reforms and improved family financial conditions to support women's entrepreneurial efforts.

Mahesh Bhattarai, Joint Secretary and Chief of the Economic Management Division of the National Planning Commission, stated that Nepal's constitution provides a foundation for women's empowerment by ensuring equality and special rights. He noted that Nepal's periodic plans contribute to women's capacity development and empowerment.

 "We must work together to advance women's capacity development and empowerment," Bhattarai said. He highlighted ongoing preparations for the implementation of the 16th Plan, focusing on prioritizing women's issues across all development sectors. Bhattarai also mentioned the government's efforts in providing tax concessions, budget allocations, and business facilitation, emphasizing the need for these initiatives to be implemented effectively.

Samanata Thapa, Co-founder and Program Head of Startup Discovery Asia, facilitated the panel discussion.

The New Business Women Summit and Awards 2024 brought together stakeholders to discuss and address the unique challenges faced by women entrepreneurs, emphasizing the importance of collective efforts in fostering an inclusive and supportive entrepreneurial environment.