Earlier this year a group of entrepreneurs held an indoor market at the Arizona campus of the Thunderbird School of Global Management. The 28 entrepreneurs, all women from emerging economies, were selling goods ranging from jewellery and clothing to products for post-natal care.

The colourful scene has its roots in the Goldman Sach’s 10,000 Women Initiative. Launched in March 2008, the five-year $100m campaign aims to educate and support women who run small and medium-sized enterprises in emerging economies by providing them with management and business training.

The initiative was spurred by research conducted by Goldman which found that empowering women entrepreneurs pays dividends. As their ventures expand, the entrepreneurs reinvest in their communities by employing locally and giving educational and financial support.