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Pathway for female entrepreneurs in Nigeria

Statistics has shown that there is 40 percent  of female entrepreneurs among the total population of entrepreneurs in Nigeria.

This is a large percentage compared with other countries. There has been growing interest for women entrepreneurs considering their challenges and gender based issues facing their businesses.

In accordance with the Sustainable Development Goals (SDGs) by the United Nations, there is need for more awareness of the women and their impact on the world.

Women have been seen to be successful as entrepreneurs; however, female entrepreneurs are constantly facing challenges that could be a setback. In the face of these challenges, female entrepreneurs need to build their network, and also capitalise on their network including intimate friends and acquaintances in search of funding, mentorship and opportunities, and invite women on panels and partner with female owned businesses; female entrepreneurs should seek to improve themselves continuously through the network and resources available.

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Several communities have been heard to have created co-working spaces mostly for women entrepreneurs. This can serve as a large network of women entrepreneurs and a window to limitless opportunities for women. This working space would enhance event planning and collaboration among female entrepreneurs, and would also attract investors and sector stakeholders.

Women constantly face challenges that are usually not faced by men, such as a lack of mentoring, funding, and, sometimes, cultural and political crises.

The society can improve the situation around female entrepreneurs by granting female owned businesse investments through venture funds and social capital; creating grants, loan programmes, and making crowdfunding available for female entrepreneurs; initiating policies and regulations that would favour female entrepreneurs.

There is urgent need for organised events that consist of a large network of women and experienced entrepreneurs which would serve as a bridge to connect the policy maker, investors and stakeholders to the entrepreneurs.

The writer, Udoka Jacobs ,is a member, Creative writing SAED, NYSC, Kwara state.

 

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