experts opinion 39

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February 2012

Expert’s opinion Prepared by: Biljana Janković, Center for Enterpreneurship and Economic Development (CEED)

The National Network of Mentors for Women Entrepreneurs in Montenegro Although Montenegro can be characterized by inequality for women, in terms of achieving economic and social rights, it should, nonetheless be stated that economic independence is the basis for achieving any other type of independence. Despite the fact that more women complete higher level education, the status of women in the labor market shows that they are still at a disadvantage in comparison with men. In order to draw attention to those who are creating new values and to show the importance of female entrepreneurship in a developing economy, the Center for Entrepreneurship and Economic Development (CEED) and the Montenegrin Chamber of Commerce have together launched a project named ‘The National Network of Mentors for Women Entrepreneurs in Montenegro’. The project is financed by the European Union (DG Enterprise).

For the purposes of the project, all of the selected mentors are successful business women. They include the following: Edita Klein, Pingvin, Podgorica; Mirjana Babić, Olivmont, Bar; Nata Dobalj, Finans Albatros, Podgorica; Nemša Omerhodžić, Merkator, BijeloPolje; Olgica Nikčević, Charme Unikum, Podgorica; Radojka Ražnatović, Frutiera, Podgorica; SannaKoritz, Create Business, Budva; Velida Hodžić, Eco Nova, Rožaje.

The activities carried out in the mentoring program focus on providing entrepreneurship support and help with development in the private sector. The aim of the network, however, is to encourage and inspire women to develop their own businesses through personal and professional development. The mentoring program identifies two target groups: mentors (successful entrepreneurs, businessmen and managers who are ready to share their knowledge) and mentorees (women entrepreneurs who are looking for external guidance and skills to help them face challenges effectively). As a result, mentoring relationships are established so that mentorees can get advice and suggestions for improving business improvement. Within the activities foreseen in this project, selected mentorees will attend practical training organized on a monthly basis on the following topics: communication skills, business plan development, strategic planning, access to sources of financing, tax liabilities and accounting etc. It is very important to state that the project was promoted at the Inauguration Conference of the European Network of Mentors for Women Entrepreneurs that was held in Warsaw on 15th November, 2011. The Montenegrin mentors were given the opportunity to share their experience and knowledge with 150 mentors from 17 European countries, all of which are involved in this regional project.

This project represents a pioneering step towards the establishment of a mentoring scheme in Montenegro. The project provides an exceptional opportunity for those who are starting out in entrepreneurship to get ’first hand’ help directly from others who have been successful in their own businesses.

Status of women in Montenegro Many surveys that have been conducted in Montenegro so far have shown that women face the same barriers in doing business as do men. Around 27% of all enterprises that have been established since 1997 are owned by women, as opposed to just 5% in 1990. Recent research shows that 30% of companies in Montenegro are led by women.

Conversely, regarding statistics, the Labor Force Survey conducted by MONSTAT, showed that at a national level 42.9% of women (against 57.8% of men) are economically active; 34.4% of women (against 46.7% of men) are employed; the unemployment rate is almost equal between the sexes and amounts to 19.8% among women compared with 19.2% among men.

Interestingly, a higher percentage of registered companies have a female executive director. In general, women prefer to establish micro companies, keeping their home as the main business location. This is not only for financial reasons but also to enable them to remain close to their family and children.

Additionally, the survey suggests that businesswomen are energetic, highly motivated, dedicated, and show a high degree of responsibility towards their employees the and environment they live in.

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