Carter’s and OshKosh clothing stores are owned by three sisters in Ramallah, Palestine and according to Forbes, is a smashing success. The sister’s goal was simple, they wanted independence. They were able to obtain a $175,000 loan, with no collateral down, in an area of the world where approximately 90-95% of the small business lending goes to men. The sisters not only got their loan but paid it off early, and after four years of being in business, they now have four locations, including two in Jordan, and have 23 employees working for them.
According to the World Bank, the Middle East has the highest youth unemployment in the world — more than 20% for men under 24 and nearly 40% for women the same age. Forbes reporter Elizabeth MacBride explores the importance of “regular small business” like the Carter’s and OshKosh stores with putting people in the area back to work –