As part of efforts to develop and support young female entrepreneurs operating across various sectors in the country, MetroWoman Accelerator has selected 30 winners for its 2019 accelerator competition programme.
According to the MetroWoman, the winners will have access to mentoring opportunities, working loan capital of about N2million and hand-holding by successful entrepreneurs in the twelve months of the programme.
Speaking at the maiden edition of the accelerator competition,Chinenye Nnoli, convener and founder, MetroWoman Empowerment Foundation, said, Nigerian women, possess the potential to grow the economy if properly guided.
She said each of the winners will be exposed to a different aspect of business ranging from strategy and human relations to accounting and investors to leverage other platforms like the Access Bank Hub and CreditPRO advisory services company.
“We are just trying to support young businesses because we were at this stage before and needed this support to upscale and people gave it to us,” Nnoli said.
“The economy is not very friendly for businesses, so for us, it is a give-back mechanism to encourage these young women that have been selected from over 500 applicants,” she said.
“To use Access Bank training facilities for free is a rare opportunity,” she noted.
In a panel session, experts advised SMEs to embrace personal development to remain relevant in the 21st-century.
They reiterated that profit comes only when entrepreneurs give value to customers,urging business owners to leverage technology and identify the gaps that can create opportunities.
On his part, Sola Adeyiga, CEO, CreditPRO, a business support service provider, said many businesses do not last more than five years in the country owing to inadequate start-up capital to scale the business.
“We want to bridge the gap between the current state of most startups and where they need to be, by not just giving the funding but also training and mentoring them,” Adeyiga said.
“For example, if you need a loan for investment, you do not take a loan for working capital. The banks do not ask these questions. You need a loan they give you, so when it is time for repayment the funds are not available,” he said.
Josephine Okojie
