Embracing Entrepreneurship towards Poverty Reduction among Women in Nigeria

Abstract

The desire of women to be financially independent is increasingly recognised in literature on entrepreneurship, and women's roles and contributions to the development of the labour market as entrepreneurs are growing. The number of Nigerian women who live in poverty has been steadily rising. Women's poverty rates are still rising, despite efforts to increase the potential contributions of women entrepreneurs through entrepreneurial networking, entrepreneurial initiatives, and women's entrepreneurial competence. In order to reduce poverty in Nigeria, this paper analysed the necessity of female participation in business. Following a review of the literature on themes such as entrepreneurship and the motivators for female entrepreneurs, the researcher developed important action plans for enhancing female entrepreneurship in Nigeria for the purpose of reducing poverty. Based on this, it was suggested that financial tools (bank loans, preferential rates, risk capital, among others.) be made available to women business owners. as well as creating effective funding strategies for use by national and regional initiatives devoted to supporting female entrepreneurs and public and private figures of interest. Government initiatives to promote female leadership and entrepreneurship.