Over 41 percent of Nigeria’s enterprises are led by women entrepreneurs, who are extremely important in shaping the dreams of millions of young Nigerians and contributing significantly to the country’s Economy. Their growing influence draws attention to the critical need for inclusive policies that will empower these business owners to overcome current challenges and stimulate Economic Growth at the federal level. Providing women with access to markets, capital, Technology, and a positive entrepreneurial environment is beneficial and essential.
The greater availability of Education for women is one of the main factors contributing to this growth in entrepreneurship. Historically, cultural and financial limitations have restricted women’s access to education in the country. However, with the help of non-governmental and governmental organisations, women’s education has improved steadily over time. Programmes designed to keep females in school and encourage STEM learning in female students have been extremely important. Young women with educations are now using their expertise and abilities to pursue a variety of business fields, including technology, Agriculture, Fashion, and entertainment.
Tech revolution empowers women to grow their businesses across the country.
Also, the internet and technology have revolutionised the industry for young entrepreneurs and women in the country. Due to digital platforms and Social Media, women now have the means to launch and grow enterprises with comparatively inexpensive start-up and operating expenses. Digital payment methods, social media advertising, and online marketplaces have made connecting with more people locally and globally simpler for women. For example, many young women operate prosperous e-commerce companies that sell anything from beauty products to handmade items.
Because of the democratisation of the digital era, women can now take advantage of opportunities by breaking through conventional restrictions. Also, women are receiving increasing support from the country’s business environment. Many initiatives and organisations are devoted to sponsoring, advising, and assisting female-led companies. Projects like the She Leads Africa accelerator programme, which trains and finances emerging female entrepreneurs, have been crucial in developing talent and supplying the resources required for company expansion. The federal government and corporate sector have also recognised women’s potential to make major improvements and have developed several funding packages expressly for them.
Traditional gender roles restricted women in business are diminishing.
Changes in Culture are also influencing the increase in women’s business. Women’s contribution to the economy is becoming increasingly acknowledged, and conventional gender roles restricting women to the home are gradually being eliminated. An increasing number of people celebrate the success stories of women business owners, which challenges social norms and inspires young girls. In addition to being prosperous businesswomen, women like Adenike Ogunlesi, the creator of Ruff ‘n’ Tumble, and Tara Fela-Durotoye, the founder of House of Tara International, are also symbols of hope and opportunity.
Nigeria’s economy and society are affected in many different ways by the actions of young women entrepreneurs. In terms of the economy, these women are increasing GDP growth, encouraging Innovation, and creating jobs. Women-owned small and medium-sized businesses (SMEs) are making great strides in several industries, including technology, fashion, health, and agriculture. These businesspeople are bringing attention to neglected social concerns and so accelerating change. For instance, many female-led firms find solutions to issues unique to their communities, like women’s Empowerment, healthcare access, and education.
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Despite the progress of young women entrepreneurs in the country, they still face significant challenges, including limited access to capital and societal barriers such as gender discrimination. However, a growing movement advocating for inclusive policies and support systems is emerging to address these issues and promote the success of women-led businesses. These resilient and innovative women drive economic growth and bring about social change in their communities. Their efforts are essential for shaping the country’s future development and breaking down barriers for future generations.
