Empowering Women Entrepreneurs in Lagos: Fostering Economic Growth

Women's empowerment contributes greatly to the growth of a nation's economy.
Women Entrepreneurs
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Lagos state has one of the biggest economies in Nigeria and is home to one of the largest populations of women in the country. A recent research by the National Bureau of statistics, shows that Lagos is the second most populous state in Nigeria with a total of 13,380,099 in population.

The formal economy in Lagos is predominantly male-dominated. The official employment structures are also 'centered around them,' and gaining employment within these structures often necessitates connections that are typically held by men. 

In Lagos, only a small number of wealthy women pursue white-collar careers, and without connections, it can take years of postgraduate study to succeed. As a result, most women in Lagos prefer to work in the informal economy or take on pink-collar jobs.

According to an oral source, many women in Lagos engage in activities such as teaching, running small stores, raising poultry, tailoring clothes, selling baked goods, and fabrics. These women view these activities as opportunities for empowerment and independence.

There is a need to encourage women entrepreneurs in Lagos to prioritize both parenting and work-life balance. This can be achieved by empowering them through government initiatives and support from successful businessmen and industrialists. While all entrepreneurs face challenges when starting and running a business, women tend to encounter specific issues more commonly. 

In addition to government grants and investor funding, professional networks are crucial for the success of women entrepreneurs in Lagos. Building a strong support network is essential to achieving business goals. However, women often face limited access to established networks in their field, which can result in fewer opportunities to connect with mentors, secure grants, and expand capital to grow their businesses.

The Nigerian government, as well as business experts in the country, should take steps to encourage women entrepreneurs in Lagos by introducing business programs and mentorship opportunities for them. This will help to enhance their productivity, enable them to build strong networks, and ultimately contribute to the advancement of the national economy.

The majority of high-level business positions are still occupied by men, which creates obstacles for women entrepreneurs to succeed without the support of government and business experts. This is because many businesses still operate under the belief that success is not based on what you know, but rather who you know. This can be a significant challenge for women entrepreneurs striving for success.

Empowering women entrepreneurs in Lagos is crucial to building a strong support network in Nigeria, and both the government and business professionals need to take action towards this goal.

Reach out to Lagos Local Business via the link: https://lagoslocal.com/home for more useful business insights and tips.

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