Established in 2014, the LPCC's 'Entrepreneurial Woman Project' is open to women of all nationalities. Previous editions have seen 3-7 businesses launched in Luxembourg as a result of the project.
The Entrepreneurial Women Project (EWP) was first run in 2014, and is an initiative by LPCC with support from the Ministry of Economy, the Polish embassy in Luxembourg, and the Luxembourgish embassy in Poland.
According to LPCC, over a hundred entrepreneurial women apply to take part in the project ever year, and around 30 are selected for each edition. Beyond building a strong network of useful contacts, the project also includes a series of workshops ranging from how to generate a business idea, to creating a business plan, analysing market opportunities, raising money from investors, as well as how to set up a business in Luxembourg and meet tax obligations.
Workshops are held over six full Saturdays. For more information and registration, visit their website.
Sofie Verstraeten of Fitness Dionysos - a former participant
To get a better idea of what value participants draw from the programme, we got in touch with Sofie Verstraeten (of Fitness Dionysos), who attended the 2019 edition of the project. We asked her what she thought the most valuable takeaways from the course were for her personally:
"I might get a little lengthy here, but I want to note few important takeaways:
- One, this course is well rounded: you will learn about all aspects that (can) come into play in your business. Company and legal entity types, taxation, marketing, public speaking, business plan, so in the end you can leave with a deeper insight and a better perspective. When it comes to business, we tend to overlook the pieces we do not like or we do not need, but let’s be honest - we still need a basic level of knowledge.
- A lesson I really liked was about planning and creating strategies in your business - simply because this is a field we tend to minimize and let everything just happen. I have experienced in my own business, you need a strategy for all fields, and you need to have clear plans with well-defined expectations and outcomes, or you will have no idea where your business is going. During the course they talked about all from strategies to money to business plans and even marketing.
- And one more, which in my opinion is the most valuable piece of the course: we have had the chance for public speaking. It helps you to recall your whole business plan and present it to others. Now it can happen that you will never make any public speeches, but I believe, you want to be able to talk about your business and ideas to others in a clear, convincing and easy-to-understand language. In the course, it happens in a friendly, supportive environment after getting a good foundation and all the information necessary – so if the speech makes you feel uncomfortable or you are not able to deliver your idea as you’ve imagined, you still did not risk anything, but you will find the fields of improvement before going real!"
Sofie had already founded her business when she attended the course and had been running it for 19 months. As the owner of a personalised fitness studio, she was very comfortable with and focused on the service aspect of the business - but said that she found herself avoiding the parts of the business with which she was less comfortable, such as accounting, marketing strategies, and operational procedures. She found that the course helped her realise how important those elements are, and gave her the tools needed to deal with them more effectively.