9 Tips and Advice for Women Entrepreneurs in Nigeria
Starting and running a business in Nigeria especially as a woman can be very challenging. From limited finance opportunities, work-life conflicts to cultural barriers and limited mentoring opportunities, it is a different ballgame entirely.
To help you handle these challenges and grow your business, this article will provide you with 9 practical tips and advice to help you succeed as a woman entrepreneur in Nigeria.
What Are the Challenges Facing Women Entrepreneurs in Nigeria Today?
Some of the challenges faced by women entrepreneurs in Nigeria include
- Limited access to funds.
- Social and cultural limitations.
- Limited access to networking opportunities.
- Work-life balance.
- Financial illiteracy, etc.
9 Tips and Advice for Women Entrepreneurs in Nigeria
- Develop a Strong Belief in Yourself and Your Abilities: As a woman entrepreneur, you must believe in yourself and your abilities. Self-doubt can prevent you from taking necessary risks to start and grow your business. This confidence in yourself will help you to persist through setbacks, failures and rejections in your entrepreneurship journey.
To build your self-confidence:
- Practice self-affirmations daily.
- Celebrate your progress.
- Surround yourself with positive people, etc.
- Start Building Your Personal brand: In 2025, the importance of having a strong personal brand cannot be overemphasized. A strong personal brand increases your customers’ trust in your business.
It creates visibility around your products and services. It also attracts opportunities to your business.
To build a strong personal brand, start promoting yourself in any social media that your target audience are like LinkedIn, Tiktok, Facebook, etc.
- Look for Mentorship Opportunities Around You: As the famous Isaac Newton quote says: If I have seen it further, it is by standing on the shoulders of giants.
As a woman entrepreneur, you must learn to seek mentorship opportunities from other experienced entrepreneurs who have gone ahead of you. They can provide you with experience-backed advice and guidance which would be useful to the growth of your business.
They will also teach you how to avoid mistakes and obstacles they have made in running their own business. So, look for other women entrepreneurs in your industry to learn from.
You can also join mentorship programs especially ones created specifically for women like Women in Management, Business, and Public Service (WIMBIZ), African Women’s Entrepreneurship Program (AWEP), etc.
- Learn to Balance Your Personal and Business Responsibilities: One challenge faced by women entrepreneurs is learning how to manage their business and their personal life at the same time.
Apart from business, many women entrepreneurs have families to take care of. To ensure none suffers for the other, you need to strike a balance between them so you don't get burnout or overwhelmed.
Here are a few ways to do this:
- Intentionally set boundaries between your business and your personal life.
- Learn to delegate tasks: You can't balance your personal life and business when you try to do everything on your own.
So you need to delegate tasks to other people in your business. If you can, consider hiring an assistant to do some other tasks for you so you can focus on the most important ones.
- Regularly take breaks: If you continue to work throughout the year and refuse to take breaks to recharge yourself, you can end up burnout, tired and stressed. It can also affect your mental health and even your physical health. So you need to take time to rest and take care of yourself.
Also, you could go on vacations or just devote some specific days to rest and take a break.
- Look for Alternative Ways to Finance Your Business: One of the major challenges that Nigeria women entrepreneurs face is the limited access to finance opportunities for their business.
A 2023 study revealed that only 10% of commercial loans in Nigeria are provided to women-owned businesses. Apart from this, many bank loans require collaterals like land, houses, which most Nigeria women do not have.
To finance your business, you need to look for alternative financing options especially ones created to support women entrepreneurs such as zero/low interest grants, microfinance schemes, etc.
Examples of such programs include:
- SheVentures by FCMB.
- Tony Elumelu Foundation (TEF) Entrepreneurship Programme.
- Bank of Industry (BOI) Women’s Fund.
- National Women Empowerment Fund (NAWEF).
- Continuously Improve Your Skills: As a woman entrepreneur, you need to continuously invest in skill development and training.
This will ensure you are always updated on trends in your industry and also help your business stay competitive.
To improve your skills:
- Regularly attend seminars and workshops in your industry.
- Take advanced online and offline courses that would expand your skills.
- Read books and publications in your industry, etc.
- Build and Develop Your Network: As a woman entrepreneur, you need to consciously grow your professional network. As the saying goes, your network is your net worth.
The people you know matters a lot. There are opportunities you will only have access to by being in certain circles.
To grow your network, attend events, conferences and programs where you can meet other entrepreneurs. Don't just attend, mingle and connect.
- Develop Strong Financial Literacy: As a woman entrepreneur, you need to be financially literate and have more than a basic understanding of financial management.
This is very important to grow your business in the long run. You need to understand how money goes and leaves your business.
To do this:
- Take financial classes or courses.
- Attend financial literacy programs.
- Read financial books and publications like Smart Money Woman, The Richer Woman, etc.
- Stay updated on financial trends in the country.
- Have a Separate Account for Your Business and Personal Expenses: As a woman entrepreneur, you need to have separate accounts for your business and personal needs.
This will help you understand the cash flow of your business, how much profits you are making and how much you need to reinvest in your business.
It will also help to sustain your business in the long run or else you might end up spending your business profits on your personal needs.
Conclusion
To succeed as a woman entrepreneur in Nigeria, you need to develop a strong belief in yourself, build strong networks, and expand your skills regularly.
The 9 tips above will guide will guide you in building a sustainable and successful business as a woman entrepreneur in Nigeria.
To learn more tips and advice on succeeding as a woman entrepreneur in Nigeria, Register here for our upcoming webinar coming up at 6pm on March 8 in celebration of the International Women’s Day.
7 Mental Health Tips for Women to Manage Stress and Prioritize Their Well-being.
According to a 2023 survey, women have higher stress levels compared to men.
This is because we tend to handle different responsibilities even at the expense of our own well-being. We are also not used to seeking help even when we clearly need it.
It is even more serious if you are a mother. You want to take care of your husband, your children, your business and so many other things which can increase your stress levels. In the long run, it can affect both your physical and mental well-being.
No matter your responsibilities, it is important that you always put yourself first and prioritize your health at all times, especially your mental health.
In this article, I share some causes of stress in women, signs that a woman is stressed and mental health tips for women to manage stress and prioritize their well-being at all times.
What are the Causes of Stress in Women?
As mentioned earlier, women handle a lot of responsibilities which can increase their stress levels.
Domestic responsibilities like taking care of the kids, handling household chores, managing their home, etc., is one of the major causes of stress in women.
This is because a large number of women are still solely responsible for handling domestic responsibilities even when they have partners or family members.
Another cause of stress is work. Handling work responsibilities is also one of the major causes of women's stress. Instead of delegating or asking for help when it gets too much, we try to handle it all and this can sometimes backfire.
It builds up and can lead to stress, burnout, anxiety, etc.
10 Signs of Stress in Women
Here are some signs that indicate that a person is stressed out:
- Low energy levels/tiredness.
- Anxiety and depression.
- Anger and irritation.
- Weight loss/Weight gain.
- Stomach pain.
- High blood pressure.
- Skin outbreaks like acne, rashes, etc.
- Sleep issues.
- Difficulty in concentrating.
7 Mental Health Tips for Women to Manage Stress and Prioritize Their Well-being
- Take Regular Breaks: When you feel stressed, it is a sign that you're going through something your body can't cope with. That means you need to take a break.
If you can't take breaks during the weekdays, you can do it in the weekends. Take time for yourself. Do things you love.
It could be as simple as just sitting down to watch a movie or even spending time with your friends. These will help to improve your mood and reduce your stress levels.
- Meditation: Meditation is a mental health exercise that helps you relax and calm your mind. It is a very good way to reduce stress and anxiety. The best part is that it can be done anywhere.
By regularly meditating, you will be able to significantly lower your stress levels.
You can read more on the benefits of meditation here.
- Be Physically Active: Regular exercising can help you to destress. According to a study by the American Psychological Association, 62% of adults who exercise feel less stressed out.
It is not until you go to the gym before you exercise. You can do a couple of things at home like jogging, Pilates, yoga, etc.
It could even be as simple as running around your neighborhood. Other ways you can stay active are dancing, walking, etc.
Taking time to exercise will also provide you with some personal time for yourself to relax and unwind.
- Talk to Someone: Sometimes, you go through stressful situations you can't handle on your own. Instead of worrying about it, talk about it to someone. After all, a problem shared is half solved.
When you talk to someone about why you are stressed, you receive suggestions and solutions on how you can solve the problem. Even the words of comfort and encouragement will go a long way.
- Eat Healthy Meals: When you are busy, you become stressed out and you have no time to eat a balanced diet. You end up skipping meals or even resorting to junk foods.
All of this will only increase your stress levels and make you more tired. So, you need to try to maintain a balanced diet and eat healthy meals that includes vegetables, fruits, etc. This will increase your energy levels and reduce burnout.
- Get Quality Sleep: When you are stressed, your cortisol level rises i.e your stress hormones. This is why you must try to get quality sleep in order to lower those stress hormones.
It is recommended that you get at least 7- 9 hours of sleep and nothing less than 7 hours daily.
- Ask for Help: Asking for help from others is not a sign of weakness Stop trying to handle different responsibilities alone. Ask for help from your partner, your family and your friends.
Also, learn to delegate responsibilities to other people. You don’t have to do it all.
Conclusion
Stress is part of everyone's life. What matters is how we managing it so it doesn't affect our well-being or health.
As a woman, you must intentionally prioritize your well-being and learn how to manage stress so it doesn't affect you. Through healthy lifestyle changes, taking breaks and seeking support, you will be able to manage stress and always be on your best form.
To learn more about how to handle stress and take care of your mental health, Register here for our upcoming webinar coming up at 6pm on March 8 in celebration of the International Women’s Day.