Page 101 - Zakat & Waqf: Impact on Women and Community Development

Zakat & Waqf: Impact on Women and Community Development | 91
© Zakat & Waqf: Impact on Women and Community Development
ISBN 978-967-####-##-#

iTekad BangKIT microfinance by SadaqaHouse and Dana Kita
microfinance by Waqaf An Nur Corporation are among the popular
products that are offered to microSMEs.

Womenpreneurship and its importance
The participation of women in the business and trading industries has
long been acknowledged, and with decades of arguments on gender
equality, women are given more opportunities to develop and progress
further in the work and labour force. The notion of
"womenpreneurship" has garnered considerable momentum in recent
times, emphasising the noteworthy input of women into the realm of
entrepreneurship.

The growing number of women engaging in entrepreneurship and
business endeavours is known as womenpreneurship. While the term
womenpreneurs covers the general women force in entrepreneurship,
there are also “mompreneurs” that are specifically used to define
married women with families that enter the same ventures
predominantly during Covid-19 to help the family economy during the
tough times (Yusoff, 2021). Either or, both womenpreneurs and
mompreneurs are used to refer to women force in entrepreneurship.

In terms of business ownership or management, there are more men
than women (Frederic, Fantoni, Kouhlani-Nolla, et al, 2023). On
average, women make up one-fourth of newly appointed business
owners and directors, compared to men who make up three-fourths.
For sole proprietors, female involvement rates are marginally higher.
The proportion of female sole entrepreneurs is approximately one-
third, while the proportion of male sole proprietors is approximately
two-thirds of the population of the country (World Bank, 2022).
Globally, the number of women entrepreneurs has increased
dramatically. Women now account for 40% of all entrepreneurs

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