MTN Entrepreneurship

Challenge powered by Jumia

 MTN Entrepreneurship Challenge

powered by Jumia is a competition spanning
13 African countries (Botswana, Egypt,
Ghana, Ivory Coast, Kenya, Morocco,
Nigeria, Rwanda, Senegal, South Africa,
Tanzania, Zambia, Zimbabwe).
 MTN EC by Jumia participants will have a
chance to make their business idea become a
reality through a $25,000 cash prize and
mentorship.
 The MTN EC by Jumia is open to current
students at African universities and recent
graduates (from academic years 2014 – 2015
and 2015 – 2016) of an African
university. Applicants may be post-graduate
students or undergraduate students. All
participating teams must be made up of 2 or 3
members, with at least one member a student
or recent graduate of an African university.
 This allows for the possibility to have an
external member as part of a team.

 Applications must be focused on online-based

solutions and must be relevant to the African
Market. Interested participants in the MEC
should kindly come to the Office of the
Director CEDS for registration on or
before Friday, March 4, 2016.
 EDS 121

FEMALE ENTREPRENEURSHIP
OBJECTIVES
 At the end of this lecture the students will
be able to;
 Explain women entrepreneurship
 Reasons for the study on women
entrepreneurship
 Characteristics of women entrepreneurs
 Contributions of women entrepreneurs to
Nigerian economy
CONT’
 Comparison of male and female
entrepreneurs.
 Challenges facing women entrepreneurs
 The efforts of Governments and
international organizations in promoting
women entrepreneurs in Nigeria and world
at large
Introduction
 Entrepreneurship has been recognized as
an important variable for economic
development especially in the areas of
employment generation, wealth creation,
poverty alleviation, utilization of local
resources and others.
 It has been recognized as the bedrock of
the economy and the engine of economic
growth.
CONT’
 It contributes more than 60% of the Nigerian
GDP and GNP. Its contribution to economic
development has made it to always be
referred to as the wheel that drives nation’s
economy.

CONT’
 However, in most cases, anytime
entrepreneurship is mentioned, men always
come to one’s mind.
 It has been known as men domain. Why?
CONT’
 Because men are usually seen as front
runners as long as and entrepreneurship and
business is concerned.
 Entrepreneurship as the central force for
economic change requires all to be involved
in its operations.
CONT’
 Being an important concept, all hands must
be on deck to see that it is able to accomplish
its major objective that is –an engine for
economic growth.
 It is therefore not only men’s affairs.
 That is why we have youth entrepreneurship,
women entrepreneurship, minority ethnic
entrepreneurship etc.
CONT’
Women’s involvement in economic growth
and development although a new
phenomenon, has been recognized as
important especially, in the area of
entrepreneurship.
Statistically, women account for more than
50% of every nation’s population and less
than 30% of them are involved in business.
CONT’
 However, recently, there has been a change
in the paradigm as regards to starting and
owning business is concerned.
 There has been a significant growth in female
self-employment, with women, now starting
new ventures at a higher rate than men.
CONT’
 For instance, in U.S.A, Hisrich et al (2005)
observed that “women are starting
businesses and are staying in business
longer than men”.
 As was observed by some authors “self-
employment is a viable career path for
women, however, more need to be done to
create better conditions and opportunities for
women to start and run a business.
CONT’
 Increasing the rate of the new business
creation by women is essential to stimulate
innovation and employment in our
economies.
Characteristics of Women
Entrepreneurs
 Women entrepreneurs have peculiar
characteristics, some of these are;
 Diversity in operation: Naturally, women are
dynamic and this affects all that have to do
with them. They like diversifying whatever
they do to give it unique features. They are
more broad minded than men in executing
their business.
CONT’
 Adaptability: Women entrepreneur can
easily adapt their work to family life.
Feminism is all about adaptability and this
essential attribute for organizational growth.
 Invisibility: In most cases any time business
is mentioned, what first comes into one’s
mind is men as business owners and
entrepreneurs. Women are hardly
remembered and this helps them to secured
from direct attack from their opponent.
CONT’
 Managerial skill: Every woman is a
manager. Managerial skill is an in-born trait
to women because of their peculiar nature of
home keeping. Home keeping.
 Accountability: It has been proven that
women are more reliable and responsible in
financial recordings. The issue of
accountability is a credit to women in
business
Cont’
 Initiative/ Creativity: Women are highly
initiative and creative. They can easily
generate idea(s), initiate business plans and
nurture it to maturity stage. One can simply
say that all women are potentially creative.
 Internal Locus of Control: Most women
believe in their ability towards achieving their
assigned task.
Comparison of Male and Female
Entrepreneurs’ Characteristics
 The Characteristics of women and men
entrepreneurs differ in several important
respects, such as;
 (i) Reasons for starting a business
 (ii) The types of business run
 (iii) The chosen method of accessing finance
 (iv) Business location
Cont’
 (v) Choice of labour
 (vi) Education background
 (vii) Level of risks taking
 (viii) Structure of business
Comparison of male and female
entrepreneurs.
 Characteristic
Achievement- (Male ) Strive to make things
happen.
 (Female) Accomplishment of a
goal.
 Independence-(Male) Self-image as it relates
to status.
 (Female) Desire to do it alone.
 Departure Point (Male) Dissatisfaction with
present job.
 (Female) Job frustration
CONT’
 Sources of funds (Male) Personal assets and
savings, Bank financing
and investors.
 (Female) Personal assets
and savings, personal
loans.
 Occupational background (Male) Experience in line
of work, recognized specialist
and competence in variety
of business function.


CONT’
 (Female) Experience in area of
business, middle-mgt level,
service-related occupational
background.
 Personality Characteristics (Male) Goal
oriented, innovative and
idealistic, high level of self-
confidence, enthusiastic,
energetic and boss
CONT’
Personality Characteristics (Female) Goal
oriented, creativity and realistic,
medium level of self
confidence, enthusiastic,
energetic and ability to deal
with social and economic
environment.
Background (Male) Age when starting venture -25-
35, father was self-employed,
college educated-degree in
business or technical area,
usually first born.
CONT’
 (Female) Age when starting
venture 35-45, father was
self-employed, college
educated-degree in liberal
arts, firstborn child
 Support groups (Male) Friends, Professional
acquaintances, business
associates, spouse.
 (Female) Close friends, spouse,
family, women’s professional
groups, trade associations.
CONT’
 Type of business (Male) Manufacturing or
construction business
 (Female) service related –
educational services,
trade,consulting or
public relations.
 Source: Hisrish, et al (2005)
The Contributions of Women
Entrepreneurs to Nigerian Economy
 Employment Creation
 Poverty alleviation
 Economic Vitality
 Economic and Soci-political
Empowerment
 Financial Sustainability
 Economic growth
 Wealth Creation
Challenges Facing Women
Entrepreneurs
 Family Issues: The role of women in their
families usually pose as a hindrance to their
business growth. Majority of the women that
own business are mothers and wives, their
family responsibility put pressure on them.
 Lack of support: Women have not yet
received the support they need from the
government, (state, local and federal),
organizations, NGOs, donor agencies etc.
CONT’
 Personal characteristics: Thee are personal
characteristics required for business
execution that are not peculiar to women
nature. These include, risk taking,
confidence, independence, self-esteem etc.
These pose as a problem to women.
CONT’
 Lack of access to capital: Women do not
usually have access to the required funds for
their business operations. Financial
institutions do not usually grant low them due
their inability to meet up with the required
conditions for loan.
 Lack of access to market: Market
opportunity for new business that are
favourable to women nature does not easily
come by.
Cont’
 Inadequate information: Information on
women entrepreneurship and business are
not usually available for women consultation.
Information on turnover, survival rates,
reasons for business failure, growth
aspirations
CONT
 Gender discrimination and stereotype
 Lack of adequate contacts and networking
system.
 Lack of access to land and equipment.
 Cultural barriers
 Religious barriers
Activities of Donor Agencies to
Promote Women Entrepreneurs
 Several efforts from the government,
individuals, NGOs and international
organizations have been channeled towards
supporting of women entrepreneurs.
 This is mainly to encourage the participation
more women in business and
entrepreneurship.
CONT”
 Notable among these is the efforts of the
federal government through several
administrations to ensure that women are
supported in their business and
entrepreneurial activities.
 For instance, Obasanjo’s administration in
1999 mapped our a four-fold vision for
women development.
CONT’
 This initiative includes the following;
 Mass mobilization of women for national
development.
 Strengthening of women societies as vehicle
for economic and political empowerment of
women.
CONT’
 Promoting greater women involvement and
effective participation in politics.
 Ensuring greater equity in employment and
appointments
ACTIVITIES OF INTERNALTIONAL BODIES
IN SUPPORT OF WOMEN ENTREPRENURS

 Examples of institutions established mainly to

support women entrepreneurs around the
globe;
 Institute for Social and Economic
Development (ISED)-training, technical
assistance, credit, rural business dev,
community business etc.
CONT’
 Women Venture (WV)- Target low-income
and minority women, support their economic
sufficiency via the growth of self-employment,
employment and promote programmes that
will enhance women self-reliance and
independence.
CONT’
 Service Corps of Retired Executives
(SCORE)- Acts as counselors and support
entrepreneurial education and ensure the
formation, growth and succession of SMEs in
USA.
CONT’
 Crasform- Part of National Organisation for
Women (NOW) initiatives focused at ensuring
decrease of unemployment among women
and increase business opportunities for
women already in the labour force.
 Interested in pre-start up, start-up, post start –
up of business handled by women.
CONT’
 Incubators- Offer information, technical
assistance, access to physical and office
equipment to women.
 Offer support to women before and after
launching a business.
CONT’
 Reaching girls- Instill confidence and self-
esteem on women through organizing of
entrepreneurial activities for young girls
through education and seminars.
CONT’
 In Nigeria, there are several programmes and
organizations that are established to provide
services channeled towards enhancing of
women entrepreneurial capability. These
include; Better life for rural women, FEAP,
SMEDAN, COWAN, YWIBE, WIB,LAPO etc.
THANK YOU