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By Elizabeth A. Vazquez, CEO & Co-Founder of WEConnect International
Women-owned businesses represent the single largest underutilized resource for global prosperity. They generate trillions in revenue, create jobs, reinvest in their communities, and fuel industries worldwide. And yet, they earn just 1% of global corporate and government spend on products and services.
At WEConnect International, we are working to change this market failure—not just by supporting individual businesses, but by transforming the way corporations, governments, and consumers engage with women-owned businesses.
But before we can solve a problem, it’s helpful to remember how we got here.
Women certainly don’t lack capability, talent, or ambition. But they have faced barriers that have historically prevented them from being fully included as suppliers in our value chains.
Legal and Structural Barriers
For much of history, women were legally barred from owning property, securing loans, or signing business contracts without male approval. In the U.S., women couldn’t even apply for a business loan without a male co-signer until the Women’s Business Ownership Act (WBOA) of 1988 that prohibited state laws that required women to secure a male relative as their co-signer on business loans. And while laws have changed, many of these barriers still persist globally, limiting access to capital and making it harder for women-owned businesses to scale.
Business Networks Were Built Without Women
Corporate supply chains were traditionally built through legacy relationships, closed networks, and referrals—places where women had little or no access. For decades, business deals were made in private clubs, executive circles, and sporting events that excluded women or made it very difficult for women to join. Even today, many of these informal barriers remain, making it difficult for women business owners to meet actual buyers or learn of supply chain bid opportunities. buyer needs.
Access to Capital for Growth
Women entrepreneurs receive less than 2% of global venture capital funding, making it dramatically harder to scale operations and compete for major contracts.
For many women-owned businesses, the issue isn’t lack of talent or capability—it’s that they haven’t had the same financial backing to expand, hire, and meet the high-volume demands of large corporate supply chains.
Lack of Visibility & Awareness
Because of these historical barriers, many corporations and government entities have struggled to find qualified, women-owned business that meet their sourcing needs. Without a deliberate effort to expand their supplier network, many companies have defaulted to the same established suppliers, further perpetuating the cycle and overlooking thousands of competitive, high-potential suppliers.
The reality that women-owned businesses still represent only 1% of global corporate and government spend demonstrates that this isn’t just a historical issue—it’s a business challenge that persists today in every country of the world.
But with every challenge comes opportunity—and from where we stand, women-owned businesses represent one of the greatest untapped sources of economic prosperity.
Here’s why:
Global Supply Chains Need Innovation & Resiliency
Economic uncertainty, geopolitical shifts, and supply chain disruptions have exposed the risks of relying on the same set of suppliers. Corporations need suppliers in the regions where they do business, and local women-owned businesses are uniquely positioned to meet local demand.
The Legal and Political Landscape is Shifting
As companies face greater demands for supply chain transparency, it has become even more important to demonstrate to governments a commitment to sourcing local or national content. This also provides an important social license to do business in key communities.
The Cost of an Invisible Market
Half of the world’s population remains invisible as suppliers within global value chains. This glaring market inefficiency means businesses, economies, and communities are collectively losing out on access to solutions to problems. The most competitive and resilient companies are those that actively invest in new supplier relationships, ensuring their supply chains are agile and future ready.
1% is Not Enough
When women make up 50% of the global population and drive 80% of consumer spending, but account for just 1% of corporate and government procurement spend globally, the math makes it clear we cannot afford to ignore the potential of women as business owners, job creators, and economic leaders. We simply must take steps to address this market failure. And the time is now.
At WEConnect International, our mission is to drive money into the hands of women business owners by enabling them to compete in the global marketplace.
For 15 years, we have helped thousands of women-owned businesses based in over 135+ countries connect with major corporations, multilateral institutions, and government agencies seeking innovative new suppliers that can compete on total value.
The world is changing, but our commitment remains the same:
We are proud to do this work because we believe in the power and potential of women-owned business – now more than ever.
It’s time to move beyond 1% and build a future where women-owned businesses have the access, opportunities, and investment they deserve.
Join us. Whether as a supplier, buyer, partner, or supporter, your involvement helps fuel a global movement to unlock opportunities, drive economic growth, and make 1% a thing of the past.
