WHY WOMEN ARE CONSIDERED GREAT ENTREPRENEURS
According to London School of Economics, women make up about 49 per cent of the Nigerian population and nearly one out of four women in sub-Saharan Africa is a Nigerian. Nigeria has the lowest number of female parliamentarians in sub-Saharan Africa and ranks 133rd in the world for female political representation. Women also own only 20 per cent of enterprises in the formal sector and only 11.7 per cent of Board Directors in the country are women.
From research, 40% of Nigerian women are entrepreneurs and that is the highest rate across Africa. While in the US one in four companies are run by women. Despite Sub-Saharan Africa having the highest rate of female entrepreneurship across the world, however, when people think about young women entrepreneurs they focus on small-scale and subsistence entrepreneurs.
Does this mean that women aren’t cut out for the suits, ties and big decisions? This subject has been on for a long time and piece is here to clear the debate scene with these five cold hard facts as to why women make great entrepreneurs.
1 Women possess strong communication skill and social intelligence
Women, in general, have an uncanny ability to read between the lines, to read body language, and to decipher meaning in what other people are actually trying to say, or to pick up on signals about what someone isn’t trying to say, but what they are really thinking. They also have the capacity to listen with empathy which is superior to men on average. Also, science has explained that women are more verbal and enjoy social gathering compared to men. This means they have wider chances of meeting people and creating a solid professional network and wider connection that will be better resourced throughout the life of the business.
2 Women are much more aware and emotionally intelligent about the human side of the business
Women understand the importance of relationship management so they run businesses with great consideration for the people they interact with, their employees and customers. Women are natural caregivers, they want to take care of those around them, they sincerely treat people with respect (and expect to be treated with respect themselves). They understand the more emotive aspect of doing business and that is why they understand their customers. In an era where connecting and engaging are highly sought after by customers, women have a very distinct advantage over men.
3 Women value relationships and well being more than the business
Generally, women will always put the health and well-being of their spouse and family as their main priority. If they have to choose between the business and the family, the family will always win. Which is an advantage to the business because as a female employer, she not only cares for her own family and health but encourages her employees to do so as well. From research, it has been identified that employer’s care for subordinates is a major factor that increases job productivity and satisfaction.
4 Women are good multitaskers and detail oriented which is good for business
Women are capable of switching between roles and adapting to them easily and this is because it is an inherent ability possessed by all women. A woman can take phone calls while typing an email and at the same time speak to an employee. The truth is as an entrepreneur you should be able to wear many hats, take up as many roles with ease because it is a display of strength that increases productivity which ultimately reflects positively on business revenue.