5 Easy Steps To Improve Female Entrepreneurship In Nigeria
Female entrepreneurs are an integral part of the Nigerian economy. They have played a vital role in developing many sectors and have helped create jobs for women as well as men.
However, female entrepreneurship is still not fully supported by the government and society at large. In line with this, we discuss steps to Improve female entrepreneurship in Nigeria.
Female entrepreneurship is particularly challenging in Nigeria
You may have heard that women are underrepresented in business and politics, but they’re also underrepresented in the workforce. It’s true: Nigeria has a high level of gender inequality, with only 20% of women working full-time compared with 50% of men.
This means that there are fewer opportunities for Nigerian women to earn money through employment; however, it doesn’t mean you can’t start your own business or pursue a career as an entrepreneur!
So why is female entrepreneurship so challenging? Well first off, according to Business Insider’s list of “25 Countries Where Women Are Most In Need Of Economic Help”, Nigeria ranks at number 12 out of 25 countries worldwide due to its “low GDP per capita” (GDP per capita) which means we have less money available for people living here than other places around the world such as China or India do when measured by this metric alone.
Here are five steps that can be taken to improve female entrepreneurship in Nigeria.
Female entrepreneurship is a global problem. In Nigeria, the situation is no different. The country has over 100 million women who constitute half of its total population, with more than half living in rural areas and only one percent having access to formal financial services through banks or microfinance institutions (MFI).
These statistics show that female entrepreneurs are not encouraged when compared with their male counterparts even though they face similar challenges as globally renowned female entrepreneurs such as Marie Curie who invented radium and lived under constant threat from people who did not want her success stories told because she was a woman
1. More open opportunities for education, training, and funding
Education and training are important in the development of any business. In Nigeria, the standard of education is low, which makes it difficult for young people to get jobs with good salaries. This can be a barrier to entrepreneurship because they may not be able to afford the cost of schooling or training programs that would help them get started on their own journey as an entrepreneur.
Funding is also important in helping female entrepreneurs build their businesses: they need capital so they can buy equipment needed for production or marketing purposes, or simply cover administrative costs like rent or office supplies.
Also Read: 7 Essential Business Skills for Nigerian Entrepreneurs
2. Make entrepreneurship a viable career option for women
There are many women who have successfully launched their own businesses, but they have been discouraged from doing so. This can be due to the fact that entrepreneurship is considered a male-dominated field in Nigeria and across Africa.
Women entrepreneurs should not be discouraged from starting small businesses; it is just as viable an option for them as it is for men. In fact, if you look at some of the top female entrepreneurs in Nigeria today (e.g. Folorunsho Alakija), they started out with very little money and built their empires over time through hard work and perseverance!
3. Create an environment for more female-friendly businesses to thrive in the country
If you want to create an environment for more female-friendly businesses to thrive in the country, here are some tips:
- Create an environment where women can start businesses. This is a critical step because it allows them to take control of their own lives and finances. It’s also important that this space is safe and welcoming for everyone, men as well as women to come together and work towards achieving common goals.
- Create an environment where women can be successful at what they do. This means making sure there are no barriers preventing them from reaching their full potential within their respective fields of expertise or industry sector; such as gender bias or discrimination against certain groups. If you want your organization or company’s mission statement then focus on hiring only qualified candidates who share similar values with yours (i.e. those who care about social justice issues).
4. Cultivate a culture of mentorship
Mentorship is important. It can be given by anyone, not just a formal mentor. Mentoring can be informal or formal, one-on-one or in a group, formal or informal.
It’s important for you to know that there are different ways of mentoring and each person has their own style of mentoring others. For example, One person may find it easier to give advice on how to start their own business than another friend who wants more guidance on how to improve their skillset (which could also include being able to speak English fluently).
The key thing though is that no matter what type of mentor you choose; it should always be someone whose opinion matters!
5. Support from the government
The government can play a huge role in supporting female entrepreneurs. This may include providing funding for women-owned businesses and providing more supportive environments for female entrepreneurs. For example, there is currently no national program that supports female entrepreneurship in Nigeria. This makes it difficult for women to start businesses because they do not have access to loans or any other types of financial support from the government or private sector.
The government should also create an environment where women feel comfortable starting their own businesses without fearing reprisals from family members or other agents within society who may disapprove of their choices (such as leaving home).
There is no one solution to support female entrepreneurs in Nigeria so it is important to take small measures rather than massive steps. However, the signs are promising and there are opportunities where women can succeed in business.
I hope this article has inspired you and helped to raise awareness of female entrepreneurship in Nigeria.