Shift in mindset needed for women to advance – BCCI

Executive Director of the Barbados Chamber of Commerce and Industry (BCCI) Misha Lobban-Clarke is not satisfied that enough women are represented in boardrooms or are owning businesses in Barbados.

However, she said the BCCI will be examining what role it could play in helping to break this barrier.

At the same time, the BCCI executive is challenging women in leadership roles in Barbados to lead by example and do whatever they could to help women who are marginalized.

“As women, we know best what we have experienced – how those experiences have impacted our lives and affected our ability to maximize our potential. Over the years, women have faced significant challenges in our quest for recognition and equality – whether that relates to issues surrounding our reproductive health, our role within the home and the workplace or our right to equal pay for equal work,” said Lobban-Clarke.

“While more and more women are achieving positions of leadership here in Barbados and across the globe, women are still under-represented in the boardrooms and in terms of business ownership,” she said.

Pointing to a McKinsey research, Lobban-Clarke said it showed that companies that promoted gender diversity were 25 per cent more likely to have above-average performance and companies with more than 30 per cent female executives were more likely to outperform companies that do not have as many females in executive positions.

“However, this research shows that just 16 per cent of small business employers and one in three of entrepreneurs are women. There is also evidence stating that fewer women get access to financing and business loans. Only 15 per cent of bank financing applications and 22 per cent of new primary business bank account openings are coming from women,” she said.

Her  remarks came as she addressed the opening of the BCCI’s first-ever POWER Summit at the Hilton Resort on Monday under the theme Break the Bias.

Lobban-Clarke said the hybrid summit, which came on the eve of International Women’s Day, sought to “shift the mindset” that’s critical for women to advance their careers and businesses, while challenging the biases and issues that continue to plague their progress.

“This summit seeks to empower and inspire women in business to move confidently into their role as leaders, mentors and agents of change,” she said.

Throughout the day, selected female business leaders shared their knowledge and expertise on a range of issues including collaboration, emotional intelligence, confidence, mentorship and setting goals.

Lobban-Clarke advised the women to exercise their power “in the interest of others”.

“That’s the power that attracts. That’s the power that is remembered. That’s the power that creates lasting and impactful change. Let us build bridges, not barriers, to success for other women who will follow us on their own paths to success. Collectively, we have the power to help forge a more inclusive, diversified work environment and society; and ultimately to make our world more equitable for all,” she encouraged.

Lobban-Clarke threw out a challenge to women in Barbados to keep raising their voices about inequalities that continue to disadvantage and marginalise women, to do all they could to pave the way for women now starting their careers and businesses, and be transparent about their experiences and sincere in their efforts. (MM)