As an entrepreneur, I have participated in countless conversations about access to finance. Whether at conferences, webinars, policy discussions, or networking events, one challenge consistently dominates the conversation: funding.
At the recently concluded Young Africa Works Dialogue in Lagos, that theme surfaced repeatedly. For many young entrepreneurs, access to capital is often presented as the missing piece needed to unlock business growth. In delving deeper into the discussion on funding, we discovered that while financing is undoubtedly important, that diagnosis is incomplete. The challenge facing entrepreneurs is not simply a lack of capital; it is the absence of the broader systems that enable businesses to grow sustainably.
As the founder of a growing leatherworks business, I understand firsthand what it means to navigate the daily demands of entrepreneurship. On any given day, I may be overseeing production, managing customer relationships, handling administrative responsibilities, marketing products, coordinating suppliers, and making decisions that directly affect the future of the business.
Many entrepreneurs across Nigeria and Africa face similar realities.
Yet despite the growing number of financing opportunities available, many business owners still struggle to access them. In some cases, eligibility requirements are unrealistic for small and growing businesses. In others, funding structures fail to reflect the realities of entrepreneurship. Even when funding is secured, many businesses lack the support systems needed to deploy that capital effectively and generate sustainable growth.
