Prospects and Challenges of Entrepreneurial Woman in Nigeria’s Informal Sector

Abstract

Women are active participants in the informal sector with many achieving successes in different areas of the sector. Many notable women entrepreneurs are increasingly contributing to the global economy through the informal sector but despite their role as business owners and entrepreneurs, they are more likely to be the primary parent, housekeeper and even emotional nurturer. This paper is anchored on structuralist theorization which views informal entrepreneurship as a form of low-quality work, carried out under poor conditions for low wages by population often marginalized from the formal economy and who conduct such activities out of necessity in the absence of alternative means of survival. Women are involved in the informal sectors in many ways such as forestry, fishing, crop productions, plantations and other agricultural activities. Women entrepreneurs are also involved in non-farming business activities as manufacturing, sales, food delivery services, and other sundry supplies. As a result, women entrepreneurs dominate and contribute significantly to the growth in Gross Domestic Product (GDP) in both developed and developing countries. Notwithstanding the important roles women entrepreneurs play in the informal sector, they are faced with several obstacles to growth; lack of interaction with successful entrepreneurs, social rejection as women entrepreneurs, family responsibilities, gender discrimination, social exclusion, and bankers’ low priority in provision of loans. It is recommended that governments, NGOs, and private institutions should assist in breaking these hurdles by providing suitable support services, creating equal opportunities for growth., and expanding the market for women entrepreneurs both locally and worldwide