Normally, being an entrepreneur has quite a lot of challenges.
Entrepreneurial activity among women continues to attract attention in
Nigeria and indeed Africa. However, despite obvious gains, women lag
behind men in business ownership and economic independence in every
continent. It is therefore important to remove the barriers stalling
women entrepreneurship.This said it is important to outline some of the challenges facing women who are entrepreneurs.
Family restriction
Women are expected to spend more time with their family members, especially
on the African continent. They do not encourage women to travel
extensively for exploiting business opportunities. Despite this, more
and more women are evolving ways to maintain a work-home balance.
Lack of Finance
Family members do not encourage women entrepreneurs. They hesitate to invest
money in the business venture initiated by women entrepreneurs. Bank and
other Financial Institutions do not consider Middle-Class Women
Entrepreneurs as proper applicants for setting up their projects and
they are hesitant to provide financial assistance to unmarried women or
girls as they are unsure as to who will repay the loan.
Lack of Education
Women are generally denied of higher education, especially in rural areas.
Women are not allowed to enrich their knowledge in technical and
research areas to introduce new products.
Unfavourable environment
Society is dominated by males. Many businessmen are not interested to have a
business relationship with women entrepreneurs. Male generally do not
encourage women entrepreneurs.
Affirmative action legislation
In this case, a law should be passed that a certain number of women should
be on the board of any corporate company in the country. This will
leave them with no choice than to appoint professional and
entrepreneurial women to contribute to the growth of the company.
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