NAME : AKINTE ESTHER TOLULOPE

MATRIC NO :180319076

DEPARTMENT: BUSINESS EDUCATION

LEVEL : 400

COURSE ASSIGNMENT: FED321 ( RESEARCH METHODOLOGY)

PROPOSAL TOPIC: Empowering Women Entrepreneurs in Nigeria through Access to

Finance and Mentorship .
CHAPTER ONE : Introduction
Background of the Proposal
Women entrepreneurship is a vital component of economic growth and development in
Nigeria. Women-owned businesses contribute significantly to the country's GDP, create
employment opportunities, and promote economic empowerment. However, women
entrepreneurs in Nigeria face numerous challenges that hinder their ability to start and grow
successful businesses.

Statement of Problem
One of the significant challenges facing women entrepreneurs in Nigeria is limited access to
finance. Women often lack collateral, credit history, and financial literacy, making it difficult for
them to access loans and other financial services. This financial exclusion constrains their ability
to invest in their businesses, creating a significant gender gap in entrepreneurship.

Another challenge facing women entrepreneurs in Nigeria is the lack of mentorship and support.
Women often lack role models, mentors, and networks, which are essential for entrepreneurial
success. This lack of mentorship and support limits their access to valuable guidance, advice,
and resources, making it harder for them to navigate the business landscape.

Aims and Objectives

Here are some additional objectives for the proposal:
-To provide access to finance for women entrepreneurs in Nigeria through loans, grants, and
other financial instruments.
- To offer mentorship and training programs for women entrepreneurs, including business skills
training, leadership development, and industry-specific guidance.
- To create a network of women entrepreneurs in Nigeria, providing a platform for networking,
collaboration, and support.
- To promote gender equality and challenge stereotypes that limit women's participation in
entrepreneurship.
- To create jobs and stimulate economic growth in Nigeria through the support of women-owned
businesses.
- To provide access to markets and supply chains for women entrepreneurs, helping them to
scale their businesses.
- To offer technical assistance and support services, such as legal and accounting advice, to
women entrepreneurs.
- To create a sustainable and replicable model for supporting women entrepreneurs in Nigeria.
- To monitor and evaluate the project's impact, using data and feedback to inform future
programming and policy decisions.
By achieving these objectives, the project aims to make a significant impact on the lives of
women entrepreneurs in Nigeria, contributing to their economic empowerment and promoting
gender equality in the process.

RESEARCH QUESTIONS
Here are some research questions that align with the objectives of the proposal:

Research Questions:

1. What are the main challenges faced by women entrepreneurs in Nigeria in accessing finance,
and how can these challenges be addressed?

2. What is the impact of mentorship and training programs on the business performance and
growth of women entrepreneurs in Nigeria?

3. How can a network of women entrepreneurs in Nigeria be established and sustained, and
what benefits will it provide to its members?

4. What policies and practices are necessary to promote gender equality and challenge
stereotypes that limit women's participation in entrepreneurship in Nigeria?

5. What is the impact of women-owned businesses on job creation and economic growth in
Nigeria, and how can this impact be maximized?

By answering these research questions, the project will generate valuable insights and data that
can inform policy and programming decisions, ultimately contributing to the economic
empowerment of women entrepreneurs in Nigeria.

Significance of the Proposal

The proposal to empower women entrepreneurs in Nigeria through access to finance and
mentorship has significant implications for:

1. Economic Growth: By supporting women-owned businesses, the project contributes to

Nigeria's economic growth, job creation, and poverty reduction.

2. Gender Equality: The project promotes gender equality by challenging stereotypes and
addressing the gender gap in entrepreneurship, providing opportunities for women to succeed.

3. Social Impact: Women entrepreneurs are more likely to invest in their families and
communities, creating a positive social impact on education, health, and well-being.

4. Role Models: Successful women entrepreneurs will serve as role models, inspiring other
women to pursue entrepreneurial ventures.
5. Sustainable Development: The project aligns with the United Nations' Sustainable
Development Goals (SDGs), particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work
and Economic Growth).

6. Improved Livelihoods: By providing access to finance and mentorship, the project improves
the livelihoods of women entrepreneurs, their families, and communities.

7. Increased Productivity: Women entrepreneurs will be able to scale their businesses, leading
to increased productivity and competitiveness in the market.

8. Reduced Poverty: By supporting women-owned businesses, the project contributes to

reducing poverty and economic inequality in Nigeria.

The proposal has the potential to make a significant impact on the lives of women entrepreneurs
in Nigeria, contributing to economic growth, gender equality, and sustainable development.

Scope of the Proposal

The scope of the proposal includes:

1. Target Beneficiaries: Women entrepreneurs in Nigeria, particularly those in the micro, small,
and medium-sized enterprises (MSMEs) sector.
2. Geographic Scope: The project will focus on Nigeria, with a potential expansion to other
African countries in the future.
3. Program Components:
- Access to Finance: Loans, grants, and other financial instruments.
- Mentorship and Training: Business skills training, leadership development, and industry-
specific guidance.
- Network Creation: Establishing a network of women entrepreneurs for support and
collaboration.
- Technical Assistance: Legal, accounting, and other business support services.
4. Project Duration: The project will run for an initial period of two years, with the possibility of
extension based on performance and impact.
5. Implementation Team: The project will be implemented by a team consisting of a project
manager, business advisors, trainers, and support staff.
6. Partnerships: The project will collaborate with local organizations, financial institutions, and
government agencies to ensure maximum impact and sustainability.
Budget: The proposed budget includes funding for program components, personnel, and
operational costs.
The scope of the proposal is designed to provide a comprehensive and sustainable solution to
support women entrepreneurs in Nigeria, addressing the specific challenges they face and
promoting economic growth and gender equality.
Limitations of the Proposal
The proposal has the following limitations:
1. Limited geographic scope: The project is focused only on Nigeria, which means that women
entrepreneurs in other countries will not benefit from the project.

2. Limited target group: The project is focused on women entrepreneurs in the MSMEs sector,
which means that women in other sectors or industries may not be eligible for support.

3. Dependence on funding: The project is dependent on external funding, which can be

unpredictable and may not be sustainable in the long term.

4. Limited access to finance: While the project provides access to finance, the amount of
funding available may be limited, and not all women entrepreneurs may be eligible or able to
access it.

5. Cultural and social barriers: Women entrepreneurs in Nigeria may face cultural and social
barriers that can limit their ability to participate in the project or access its benefits.

Here is a proposed budget for the project:

1. Personnel:
- Project Manager: ₦2,000,000 per annum
- Business Advisors (2): ₦1,500,000 per annum each
- Training Staff (2): ₦1,000,000 per annum each
- Support Staff (2): ₦800,000 per annum each
Total: ₦7,300,000 per annum
2. Program Components:
- Access to Finance: ₦5,000,000 per annum
- Mentorship and Training: ₦3,000,000 per annum
- Network Creation: ₦2,000,000 per annum
- Technical Assistance: ₦1,500,000 per annum
Total: ₦11,500,000 per annum
3. Operational Costs:
- Office Rent and Utilities: ₦1,500,000 per annum
- Travel and Transportation: ₦1,000,000 per annum
- Equipment and Supplies: ₦500,000 per annum
- Miscellaneous: ₦500,000 per annum
Total: ₦3,500,000 per annum
4. Total Budget: ₦22,300,000 per annum
Note: The budget is based on an annual estimate and may be subject to adjustments
based on project needs and availability of funds. This budget will enable the project to
provide adequate support to women entrepreneurs in Nigeria, including access to
finance, mentorship, training, and technical assistance. The budget also covers
operational costs and personnel expenses to ensure the smooth implementation of the
project.

Conclusion:
In conclusion, the proposal to empower women entrepreneurs in Nigeria through access to
finance and mentorship has the potential to make a significant impact on the lives of women
entrepreneurs, their families, and the economy at large. The project's objectives, scope, and
budget have been carefully designed to address the specific challenges faced by women
entrepreneurs in Nigeria.

By providing access to finance, mentorship, and training, the project will help women
entrepreneurs to start and grow their businesses, creating jobs and stimulating economic
growth. The project's focus on sustainability and scalability ensures that the impact will be long-
lasting and far-reaching.

We believe that this project is a crucial step towards promoting gender equality and economic
empowerment in Nigeria, and we look forward to the opportunity to implement it.
References:
Here are some recent references and citations relating to women's entrepreneurship in Nigeria ¹
²:

- "Promoting Women's Entrepreneurship: Supportive Policies and Initiatives" (March 2024)

- Dr. Olasupo Olusi, "Empowering Women Entrepreneurs: Driving Nigeria’s Economic
Development Through Inclusive Initiatives" (March 2024)
- David Imhonopi, "Increasing the Access of Women Entrepreneurs to Finance in Nigeria"
(September 2016)
- "An Assessment of Women Entrepreneurship Performance in Nigeria" by Safiyyah
Muhammad Aliyu (2013)
- "Entrepreneurship, women entrepreneurs, entrepreneurial activities, economic growth" by Van
Vuuren and Groenewald (2007)
- "Gender Situation Assessment and Analysis (GSAA)" by the Canadian International
Development Agency (CIDA) (2006)
- "Entrepreneurship development" by Hossain et al. (2009)
- "Woman entrepreneur" by Kumar (2006)
- "Woman entrepreneur as a person" by Jayalakshmi (2009)