6 Ways to Champion Women Entrepreneurs in 2021

It has been an interesting year no doubt, everyone is hopeful that the coming year is more lenient than this. At this point in time, it has become a norm that people take stock of their yearly activities and chart a course to make the brand new year a success.

While you’re doing that, why not take a moment to reflect on opportunities that 2021 might bring for all women entrepreneurs as well and how you can be a part of their success stories. After all, women entrepreneurs are everywhere; you might be one, know one, or even be married to one.

Support for women-owned businesses has been called for time and time again to give them a fair chance at growth and sustainability. To this end, since 2014, November 14th has been recognized as a special date set aside annually to celebrate, empower, and promote women entrepreneurs across the globe.

Granted, you might be all for women’s empowerment, but this goes beyond feelings of goodwill. It calls for action! Why not consider some of the ways to support women entrepreneurs going forward.

Invest in women-owned businesses

While funding is one of the major hurdles African women entrepreneurs grapple with, there are efforts directed at tackling this, thereby changing this narrative.

For instance, Tokunboh Ishmael, co-founder of Alitheia IDF within Alitheia Capital, a private equity firm based in Nigeria, is part of a growing network of women investors in Africa who are deliberately investing in businesses owned by and serving women. Having raised about $70 million, so far, we can say that these women mean business!

Launch your own business

If you’ve been watching on the sidelines instead of setting up your own side hustle, this may be the best time to get your venture off the ground. Perhaps, one of the ways to support women entrepreneurs is by becoming one yourself.

Patronize women-owned businesses

Take advantage of every opportunity to patronize female entrepreneurs and women-owned SMEs.  Encourage others within your circle of family and friends to do likewise. Be intentional about supporting these women.

Give a review for your favorite women-owned businesses

Some modern customers depend on reviews /ratings before making purchasing decisions. Help them to make better decisions by leaving a positive review on your favorite enterprises owned by women.

You could give honest, but practical reasons for your high ratings.  Leverage your social media to do this as the majority of potential customers are there.

Be a mentor to a woman that is starting a business or trying to scale up

The power of mentorship should never be taken for granted.  Assist and become the branch other women need to be on top. Sacrifice a few hours of your time to mentor, encourage, and even use your resources to help a woman-owned business scale and grow.

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