Our Road to Growth programme in Mexico has now run for two consecutive years, with two cohorts of women entrepreneurs learning how to access the capital, skills and networks to take their small businesses to the next level. Two years on, we reflect on key findings from the programmes and consider what our Road to Growth model will look like in the years ahead.
What is Road to Growth?
Road to Growth is a collaborative venture developed in partnership with the ExxonMobil Foundation, designed to build the business skills and financial literacy of women entrepreneurs.
The project uses a ‘blended learning’ approach, which combines in-class training with a unique, custom-built online learning tool. The in-class training enables women to benefit from networking opportunities and peer-to-peer learning, while the e-modules are accessible via tablets, allowing women to learn at their own pace and convenience.
You can read more about the Road to Growth 2018 programme in Mexico here, and find out about the Road to Growth Mexico 2019 programme here. The programme has also been successful in Nigeria, where it is now in its third cohort of participants.
To find out more about the entrepreneurial ecosystem for women entrepreneurs in Mexico, take a look at our report and infographic: ‘Understanding how to unleash the untapped potential of women entrepreneurs in Mexico’.
You can watch the video of our 2019 Road to Growth participants discussing their journey here:
The impact of our 2018 and 2019 Road to Growth Mexico programmes
- Across both our 2018 and 2019 Road to Growth Mexico programmes, 680 women entrepreneurs were supported in business management and investment readiness.
100% clearer business vision
- 100% of the women entrepreneurs who took part in our 2018 and 2019 Road to Growth Mexico programmes reported that following their participation in the programme, they had a clearer vision and direction for their business.
98% can assess their business’s financial health
- 98% of the women entrepreneurs who graduated from our 2018 and 2019 programmes reported that they can now assess their business’s financial health.
96% increased confidence in achieving work-life balance
- 96% of the women entrepreneurs who graduated from our 2018 Road to Growth Mexico programme and 94% who participated in the 2019 programme felt more confident in managing family issues to achieve a balance between business and family.
98% value their new business network
- In both the 2018 and 2019 Road to Growth Mexico programmes, 98% of participants stated they value the network they have built because of their involvement.
75% increase in proportion applying for business loans
- 75% more women applied to funds from financial institutions after participating in the 2019 Road to Growth Mexico programme than had applied for business loans before taking part in the programme.
Earlier this year, the Road to Growth programme in Nigeria launched its third iteration, which plans to support an additional 10,000 women entrepreneurs. In order to launch the third iteration of Road to Growth in Mexico, the Foundation is looking to secure new partnerships which would support us as we deliver projects that touch the lives of hundreds of women entrepreneurs.
Road to Growth is a skills development programme which the Foundation plans to roll out all over the world, so if you would like to see Road to Growth in a country where it is not currently being implemented, we’d love to hear from you.
The Cherie Blair Foundation for Women is committed to long-term change for women entrepreneurs, and so we are dedicated to partnering with organisations that share our vision of a world where women thrive. If you would like to find out more about becoming a partner, follow the link and get in touch with our team today.