Hidden resource for the modern economy

1. Cross-border Search Conference "Women, Innovation, Social networking" 15th - 16th December 2009 Haapsalu, Estonia Hidden resource for the modern economy Vision of Estonian woman-entrepreneur Silva Tomingas Estonian Union of Women in Business

2. Hidden resource for the modern economyVision of Estonian woman-entrepreneur Popular myths as main obstaclesto the growth of world economy Myth 1:Men are more suitable for business than women are. Myth 2: Men are more suitable for leadership than women are. There is no evidence to prove it. We all meet brilliant businesswomen and women leaders everywhere everyday. 2 Silva Tomingas

3. Hidden resource for the modern economyVision of Estonian woman-entrepreneur Present world economy wastes the biggest human resource - the investment already made into women's education In many countries (including Estonia) women have higher education than men. Investments into women have been bigger than into men Women's higher education is not used as a tool for developing entrepreneurship worldwide. It is the biggest waste of human resource in the history of mankind 3 Silva Tomingas

4. Hidden resource for the modern economyVision of Estonian woman-entrepreneur Who am I, giving you advice? • 21 years of entrepreneurship • President and CEO of TEA Language Center Ltd and TEA Publishers Ltd • Market leader in language teaching and dictionaries publishing in Estonia • Exporting to 45 countries • 19 years of membership in organizations (Estonian Union of Women in Business, Council of Junior Achievement Estonia, Zonta International, Estonian Women Association, National Broadcasting Council, Council of Tallinn Children Hospital Foundation) • Last, but not least - 37 years dedicated wife, mother of 2 sons and grandmother of 2 girls 4 Silva Tomingas

5. Hidden resource for the modern economyVision of Estonian woman-entrepreneur My hurdles in the way tosuccess • Most Soviet industry leaders had been men, who used good opportunity to privatize majority of businesses. I had to start my publishing company from ground 0 and unfair competition. • Access to bank loan was difficult (my good business plan was not enough versus simple application from male competitors). • I2 (= lack of Important Information) Poor access to I2: Women usually do not belong to the councils, commissions and other leading institutions, where I2 is. • L2 (= Lack of Lobbying) • At evenings women often can not have the possibility to take part of the club events, sports, sauna (in Europe) etc for lobbying (reason: children and family). • At council's and commission meetings women usually are not present (they are not members). 5 Silva Tomingas

6. Hidden resource for the modern economyVision of Estonian woman-entrepreneur Implementation of women intobusiness: • key to the main door to the modern economy • key to huge economic growth 6 Silva Tomingas

7. Hidden resource for the modern economyVision of Estonian woman-entrepreneur Implementation of women intobusiness is an achievable task: • support measures from governments • - valuing women as real businesspeople and as real leaders • (= new point of view, new policy) • mentoring women by successful businesspeople as a system,supported by government (f.e. via lower taxes, some other benefits for thementors) • connection to the practice from the beginning (to see, feel and touch, how does everyday business function) 7 Silva Tomingas

8. Hidden resource for the modern economyVision of Estonian woman-entrepreneur There is only one modern economy-with women leaders and womenentrepreneurs in it The biggest winner is the country, which is capable to use investments in women already made quicker than others. 8 Silva Tomingas