Entrepreneur
By Nathan Nwakamma
Yenagoa, June 13, 2024 (NAN) A Professor of Finance, Mondy Gold, has advised the country to leverage the entrepreneurial potential of women for economic development.
Gold, of the Colorado State University, United States, gave the advice on Thursday while speaking at the Inter-University Summit at the Bayelsa Medical University, Yenagoa.
He spoke on “Gender Dynamics in Financial Access, Investment, and Economic Empowerment: Closing the Gap in Nigeria”.
He said it was essential to recognise the dynamic roles being played by Nigerian women in the entrepreneurial landscape.
“From technology and agriculture to fashion and healthcare, women are establishing businesses across a diverse range of sectors.
“However, despite their significant contributions, Nigerian women face disproportionate barriers that impede their full economic participation.
“For any country to develop, its economy and financial sectors must be championed by visionary, innovative, and goal-oriented individuals,” Gold said.
He says the entrepreneurship potential of women is evident in developed nations such as China, Australia, Germany, the United States of America, the United Kingdom, Canada, and Japan.
He noted that the listed countries had achieved unprecedented success through the development of entrepreneurship, especially amongst the female gender.
“These countries are reaping the benefits of the creativity and drive of women entrepreneurs.
“In stark contrast, women entrepreneurs in emerging countries like Nigeria have not triumphed due to numerous challenges posed by the environment,” he said.
He listed such obstacles as limited access to capital and financial planning, streamlined information, the need for tailored business skills education and inadequate direct connections to mentors and networks.
He said these issues had been further exacerbated by skill gaps and entrenched social norms that inhibit women’s full participation in economic life.
According to him, research has consistently revealed that boosting women’s economic participation enhances national economies and improves household productivity, living standards, and overall well-being.
“Nigerian women’s businesses are pivotal in driving job creation, promoting innovation, and fostering a more inclusive and equitable economy,” he said.
Gold recommended that to harness the full potential of women’s entrepreneurial endeavours, the country needed to create more viable national organisations to support women.
He recommended the creation of state chambers of commerce, representing the interests of all women entrepreneurs and supporting savvy women with keen eyes for success across all industries. (NAN) (www.nannews,ng)
NN/MAS
Edited by Moses Solanke
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