Giving Compass' Take:

• Alison Eskesen explains how big-name partners are teaming up to offer expertise and training to female entrepreneurs to promote women-led business in social entrepreneurship.

• How can people who currently work in social enterprise make their industry more inclusive of women?

• Learn more about the intersection of philanthropy and social enterprise.

Through a new model of private-private partnership, the Center is working with the Commonwealth Bank of Australia to tap into the potential of women entrepreneurs to transform the Indonesian economy.

In Indonesia and countries around the world, an unprecedented number of women are entering the world of entrepreneurship. We recently met Irma, a wife and mother who created a fashion and wedding organizer business several years ago. She has been diligently trying to grow it ever since. Her business is helping to fund a better education for her children, ensure access to quality medical care and protect her family from unexpected financial crises.

As a small enterprise that is striving to grow and create jobs, Irma’s business is also an important driver in the local economy. In Indonesia, Irma’s leadership and success as a business owner are invisible.

To help Irma and entrepreneurs like her, the Mastercard Center for Inclusive Growth and Commonwealth Bank in Indonesia are working together to empower women business owners to grow. Together we have launched a skills-building program for small businesses, which will strengthen their operations, grow their profitability, and, in turn, encourage them to become legally recognized enterprises.

To achieve broader reach across the country, we will re-launch the Women Investment Series (WISE) app with new tailored learning tools for women business leaders, who are unable to attend a masterclass in person. By using technology, we aim to reach up to 5 million Indonesian entrepreneurs to grow their companies.

Our private sector-led collaboration with Commonwealth Bank is a new model of doing well and doing good that combines our philanthropic dollars and our industry expertise. Together we are building the evidence base for how to unlock the full productivity of women entrepreneurs and accelerate their success.

Read more about the growth of women-owned businesses by Alison Eskesen at Mastercard.