Name: kemi Adeleke

Reg No: U21DLNS20271

Assignment: Discuss the concept of women entrepreneurs

Introduction:
The term “women entrepreneur” deals with that section of the female population who
venture out into industrial activities i.e. manufacturing, assembling, job works,
repairs/servicing and other businesses.
According to J.Schumpeter “Women entrepreneurship is based on women participation
in equity and employment of a business enterprise.
women are changing and they are fast emerging as potential entrepreneurs.
Role modeling of women in non-traditional business sectors to break through
traditional views on men’s and women’s sectors.
Women companies are fast-growing economies in almost all countries. The latent
entrepreneurial potential of women have changed little by little by the growing
awareness of the role and status of economic society. Skills, knowledge and
adaptability of the economy led to a major reason for women in business.
Women are coming forth to the business arena with ideas to start small and medium
enterprises. They are willing to be inspired by role models- the experience of
other women in the business arena.

Definition of terms
0. Women: Group of females. Female population.
0. Entrepreneurs: A person who makes money by starting or running
businesses especially when this involves taking financial risks. (Hornyby 2006)
0. Woman entrepreneur:woman entrepreneur is therefore a confident,
creative and innovative woman desiring economic independence individually and
simultaneously creating employment opportunities for others.
0. Enterprise: is a small company or business often a small one.
Body of the submission :
Women entrepreneurs can be broadly categorized into five categories
1) Affluent entrepreneurs – These are daughters and wives of wealthy businessmen.
These women have the financial aid and the necessary resources to start a new
enterprise and take business risk 2) Pull
factors – These are educated women living in urban areas with or without work
experience who take the risk of a new enterprise with the help of financial
institutions and commercial banks. These women take up a new business as a
challenge in order to be financially independent.
3) Push factors – These women take up some business activity in order to overcome
financial difficulties. Generally widows and single women manage an existing family
business or develop a new business due to difficult family situations.
4) Rural entrepreneurs – These women belong to rural areas and choose a business
suiting their resources and knowledge. Business carried out involves low
investment, minimum risk and does not require any special skills. 5) Self-
employed entrepreneurs – They are uneducated women who fall below the poverty line.
They choose tiny and small enterprise which are convenient to manage and adequate
for the sustenance of her family.

Characteristics of women entrepreneurs

0. Risk bearing activity
0. Versatility
0. Purposeful activity
0. Seriousness
0. Prudence
0. Motivational resources
0. Result oriented
0. Total commitment
0. Team players
0. Technical knowledge
 0. Self confidence
0. Multi skilled
0. Accept challenges
0. Ambitious
0. Hard work
0. Patience
0. Motivators
0. Adventurous
0. Conscious
0. Educated
0. Intelligent

features of women entrepreneurs

1.most women with small income are likely to become entrepreneurs
2. Women with small facilities are likely to become entrepreneurs
3. A majority of women entrepreneurs are married. With the support of their husband
they accepted entrepreneurship.
4. Most spinsters face difficulties in obtaining financial support to start their
enterprises.
5. A large number of women with little or no education and training enter into the
business field.
6. Many women become entrepreneurs out of economic necessity.
7. Women’s sincerity and hard work is the cause for sustainability and growth.
8. Women entrepreneurs are security oriented rather than growth oriented.

Reasons women become entrepreneurs

1. To become economically independent
2. To establish their own enterprise
3. To establish their identity in the society
4. To achieve Excellency in their endeavour
5. To build confidence to themselves
6. To develop risk assuming ability
7. To claim equal status in the society
8. To secure greater freedom and mobility

Challenges woman entrepreneurs face in business

More women are starting businesses, but they still face challenges
operating their businesses. The number of women entrepreneurs is on the rise.
Regardless of the positive outcomes, women are struggling to survive in the
business environment given the challenges they face.
Below are few of the challenges these women face:
0. Limited funds:
Not all business people are fortunate enough to have an investor or financier for
their business. Some have to bootstrap their entrepreneurial ventures, rely on
credit cards or raise capital on their own. Women’s businesses are among the
leading ventures that lack financial support. It is also common for women to be
denied loans because of gender and cultural biases—many institutions tend to fund
male-owned businesses.

2. Balancing Responsibilities
A large number of women are not just entrepreneurs or career people—they have
families, spouses, and other responsibilities. Demands from personal and
professional commitments can pressure a woman to abandon either her business or
family. The family expects her to be a mother and wife, while the business requires
her to be the leader and show commitment. It becomes more difficult for those who
lack social support because they have to carry the entire burden by themselves.
Some women can balance these two spheres of their lives, while others are
overwhelmed.
3. Fear of Failure
Entrepreneurship or running a business is risky and entails
unforeseen circumstances. Never fear failure; you will never try if you fear
failure. No one goes into business with a guarantee of success. Fear of the known
and the unknown is a major issue for women. They dread failing, especially if the
people surrounding them were skeptical of their capability in business. This fear
is toxic and perilous, because women may end up operating from a place of fear
instead of confidence. As a result, they will fail in business even when they were
meant to succeed.

4. Inadequate Support System

What would women achieve if they had a perfect support system? Struggling or
failing in business could be the result of a lack of an adequate support system. In
business, no man’s an island. Women tend to face the greatest challenges in getting
support, from lacking the relevant connections to needing financial access or
emotional support. They also need mentors and sponsors to guide them in this new
path. The support system is often expensive, forcing women to delay starting their
businesses.

5. Gender Inequality
What do you need to know about gender inequality? Laws, cultures, religion, and
politics are built upon a patriarchal foundation. Women must work their way up in
the masculine world while facing stigma and discrimination. Although laws and
policies have attempted to create a favorable business environment for everyone,
the actual changes have not yet been implemented. Gender lens investing, which
refers to strategies that address gender disparity issues and/or analyze gender
issues to illuminate investment decisions, is gaining traction.

6. Limited Knowledge
Empowering a woman with knowledge is just the beginning of a long journey to
business success. Life is a daily learning process where each day comes with new
information. Unfortunately, women’s access to this information and emerging
knowledge is limited. Although it could be a result of the competitive environment,
women take the extra step and seek relevant and practical information.

7. Unfavorable Business Environment

Among the challenges that women experience are less-established business networks,
and social and traditional constraints that restrict women’s participation in
business. Religion hinders women from owning businesses. In some countries, women
may be required to have a male partner will do deals, negotiate, and be the face of
the business. Regardless of these challenges, the business world is gradually
accepting women’s abilities and contributions.

8.Timidity
Women who strive and succeed are often shy about touting their accomplishments.
They are afraid of being labeled as proud or boastful people. Humility is not
shyness or timidity. Women need to stand by their success and let people around
them recognize it.

Summary/ conclusion
Due to constant increase in the cost of living, it has become essential for women
to engage themselves in economic activities to stand as a support to their
families.
They have proved themselves in not only various job areas but have also taken a
bold step of invading the forbidden land of entrepreneurship. Women have been
acting as true entrepreneurs, taking risks, managing resources and accepting
challenges to gain economic independence and establish their strong position in the
society.
Women entrepreneurs must have an intention to fulfil their dreams. They have to
make a dream translated into an enterprise. Studies show that successful women have
worked hard.
Examples of women entrepreneurs in Nigeria are folurunsho Alakija, Stella
chinyere okoli, Bimbo Alase, Hajia Bola shags,Fifi Ejindu, Linda Ikeji, Ngozi
okonjo iweala.

Reference
1 Your article library.com
2 Horny by 2006
3 Forbes business. Com
4 Women entrepreneurs nature definition features and Indian perspectives by DHA
shikha MBA HA 4- paper 403 entrepreneurs unit 3
5 ABU Gens 202 entrepreneurship and innovation note
6 J schumpeter
7 my salary scale. Com
0. Http//www.motivation. Africa. Com
0. Http://www. Collins dictionary.com