Women Entrepreneurs to Lead Economic Growth with LALA WORLD

By August 29, 2018LaLa World

“Women are the real architect of the society” – Harriet Beecher Stowe

Women entrepreneurship has been widely accepted as a significant source of economic growth. The women entrepreneurs today are capable of producing new job opportunities for themselves and communities across the world, setting examples for the society with unique solutions in management and businesses they run. With a womanly approach rather just being aggressive and money minded, they always bring in a different perspective, creativity and their special sauce on a business model that can have a positive impact on lives as they have an eye for minute details- from colors to keeping things tidy and in order, perfectly in sync to business planning.

However, women still represent a minority in entrepreneurial ecosystem and its sad that there could be many brilliant ideas that we don’t even know about, but can be successful and socially impacting. And they just lie within. This lack of push for female entrepreneurship runs deep in systemic inequalities which must be addressed now, to increase accessibility for all genders.

LALA World is a fast-emerging financial ecosystem which can positively impact this space by providing more resources to women to being a journey towards a rewarding livelihood and exploring their dreams. With our application we can add value to their burgeoning ventures. LALA World does not have the typical enterprise’s goal, but intends to extends its hand in supporting women entrepreneurship.

“Women belong in all places where decisions are being made… It shouldn’t be that women are the exception.” —Ruth Bader Ginsburg

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While we talk about women empowerment, it is still in its progressive stages in the society. In India, a large percentage of women enterprises are micro enterprises that women undertake as an economic activity. These micro-enterprises can be classified into farm and off-farm. In rural India, traditionally, a lot of women primary-producers can be classified as entrepreneurs. For instance, “Lijjat Papad” legacy of drying papad (poppadom) on their roof tops, and the revolutionary “White Revolution” famously known as “Amul” created a national milk grid that linked milk producers throughout India with the millions of consumers, acting as a bedrock to ensure livelihood and cutting out the middlemen. All these initiatives were to give a thrust to women entrepreneurship.

Family responsibilities, traditional social norms, and the patriarchal structure limit women’s exposure to the outside world. These women face various challenges due to gender-based barriers to start and grow their businesses which include discrimination in property laws, matrimonial responsibilities, inheritance laws and/or cultural practices, lack of access to education, formal finance systems, limited mobility, poor access to information and networks, etc. This restricts their development and mobility, making them dependent and almost impossible to reach the market. Middlemen in the business chain exploits women financially due to the opacity of the entire chain of demand and supply. As a consequence, women end up losing a great deal at all ends. This increases inefficiency and insecurity in the system for a businesswoman. They are unaware about the status on payments and are unable track their finances. As a result, they end up feeling helpless in that aspect of business deals. Women also need encouragement in generating capital for their businesses on their own without being dependent on anyone.

Blockchain enterprises like LALA World can bring great prospects for women running micro or small SMEs through this exclusive decentralized financial ecosystem. The application of decentralized technology has no boundaries. Women can successfully bypass the inherently recondite and lengthy procedures associated with traditional financial transactions.
From securing personal records from money transactions to payments- women entrepreneurship can benefit immensely from the LALA World initiative.

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LALA Transfer can provide a secure way to complete financial transactions, which could bring financial services to women entrepreneurs who are still without a bank account. Importantly, payments made with LALA Transfer can cost less in peer-to-peer transaction without third-party intermediaries. Likewise, the no costs associated to get on the LALA World App may become a significant bridge to create entry for women having vision for their own business. Within the LALA World App, person with the LALA ID can use it as a global unique identification.

LALA Lend will provide a platform where the lending process becomes low-priced, short & efficient. It will also eliminate the role of intermediates.

Conventional methods of fundraising like VC will always be present. But applying for these high profiles financial bodies is difficult. Due to biased land and inheritance law in developing countries, women face challenges in providing quality collateral for the loan. The process thus becomes lengthy, expensive, and not worthy of the hassle. However, our LALA Lend application highlights an opportunity for women to receive a collateral free loan easily.

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LALA World would never leave an opportunity to help humankind. All the women in countries dreaming to work on something innovative should be encouraged. Blockchain industry can create financial freedom for all. Women with profound business visions if given financial support can build a new world.