Although there are opportunities in Nigeria, women entrepreneurs face several challenges. Although ownership of SMEs is said to be 40 percent for women, the funds actually utilized are less than 20 percent. To many, capital, training in business techniques, and entry to the markets have become almost unreachable.
Despite these many challenges, however, women in Nigeria have continued to build thriving businesses. With proper support, they can increase business, provide jobs, and make the economy much stronger.
Women Entrepreneurs and Access to Capital
Access to funding remains one of the biggest challenges for women entrepreneurs. Many banks require collateral, such as land or property, which many women do not have. As a result, women-owned businesses receive fewer loans than businesses owned by men.
Several organizations and government programs offer grants and low-interest loans for women entrepreneurs. Some options include:
- Bank of Industry (BOI) Women’s Fund – Provides loans for women-owned businesses.
- Lagos State Employment Trust Fund (LSETF) – Offers financial support for women entrepreneurs in Lagos.
- SheVentures by FCMB – Gives zero-interest grants and business support for female entrepreneurs.
- Tony Elumelu Foundation (TEF) Entrepreneurship Programme – Provides seed funding for African entrepreneurs, including women.
Women Entrepreneurs and Business Training
One of the barriers facing women entrepreneurs is access to finance. Most banks require collateral, which involves land or property that most women do not have. For this reason, women-owned businesses are less likely to be granted loans than those owned by men.
To help increase access to funding, organizations, and government programs provide grants and low-interest loans to women entrepreneurs. Some of these include:
- Cherie Blair Foundation for Women – Provides mentorship and business training for women entrepreneurs.
- African Women Entrepreneurship Programme (AWEP) – Offers leadership and business training for women in Nigeria.
- Women in Management, Business, and Public Service (WIMBIZ) – Trains women on business management and networking.
Women Entrepreneurs and Market Access
Many women-owned businesses struggle to reach markets. Limited access to technology, e-commerce platforms, and business networks keeps them from growing their businesses. Expanding into larger markets can increase revenue and create new opportunities.
To improve market access, women entrepreneurs should:
- Use digital platforms like Jumia, Konga, and Instagram to sell products online.
- Join business networks such as WIMBIZ and AWEP to connect with potential clients.
- Attend trade fairs and exhibitions to showcase their products and services.
Women Entrepreneurs and Government Policies
Government policies play a role in supporting women entrepreneurs. The Nigerian government has introduced several initiatives to support female-owned businesses. However, many women are not aware of these opportunities.
Some government initiatives include:
- National Women Empowerment Fund (NAWEF) – Provides financial support for women entrepreneurs.
- Enterprise Development Centre (EDC) – Offers business training for women.
- Women Fund for Economic Empowerment (WOFEE) – Gives loans to female entrepreneurs in agriculture.
Women entrepreneurs need more policies that remove financial and legal barriers to business growth. Policymakers should ensure women have equal access to funding, training, and business opportunities.
How to Succeed as a Woman Entrepreneur in Nigeria
Women entrepreneurs can grow successful businesses by:
- Building strong networks – Connecting with other business owners for support and mentorship.
- Learning business skills – Taking courses on finance, marketing, and leadership.
- Using technology – Leveraging digital tools to market and sell products online.
- Seeking funding – Applying for grants and loans designed for women entrepreneurs.
- Staying informed – Keeping up with government policies and business opportunities.
Final Thoughts on Women Entrepreneurs in Nigeria
Women entrepreneurs contribute greatly to Nigeria’s economy. They create jobs, support families, and drive innovation. However, challenges like limited funding, business training, and market access continue to hold many women back.
To learn more about funding opportunities, business training, and policies for women entrepreneurs, visit genderpedia.ng/shop for research reports and resources.
