b'C O N S U LT I N GINVESTING IN WOMENUnderstanding gender-smart business practicesStudy after study has shownUnderstanding this connectionAs the research partner behind that investing in women livingis the aim of the Gender-Smartthe two-year project, WDIs in low- and middle-incomeEnterprise Assistance ResearchPerformance Measurement countries (LMICs) has a strongCoalition (G-SEARCh) which& Improvement (PMI) team ripple effect. When womenincludes six investmentis exploring the financial and earn more money, either asorganizations: AlphaMundisocial performance results entrepreneurs or employees,Foundation, Acumen, SEAF,of gender-smart technical they tend to place more ofRoot Capital, AHL Ventureassistance provided to theseIn all our work we their economic gains back intoPartners and Shell Foundation.SMEs. These practices can their childrens education andThe group came together with arange from recruiting morestrive to examine the health, and also strengthenshared goal of supporting small-female employees and refiningrelationship between local economies. However,and medium-sized enterprisespolicies and procedures to there is far less evidence on(SMEs) in emerging markets toskills development, conductingfinancial and social how gender-focused investingincorporate gender across theirmarket research to betteroutcomes. When you leads to better financial andrespective business models. understand female customer social outcomes, and how to goneeds, and adapting productcan find a positive about achieving those goals. and/or service offeringslink between the two, to female customers, among other practices. you can then make In all our work we strive tothe case for investing examine the relationshipin social outcomes between financial and social outcomes, said Heather Esper,as a way of driving Director of the PMI team at theboth financial returns Institute. When you can find a positive link between the two,and social freedom.you can then make the case for investing in social outcomes asHeather Esper, a way of driving both financialDirector of PMI, WDIreturns and social freedom.THE WILLIAM DAVIDSON INSTITUTE 7'