Women Entrepreneurs Need More Than Grants, Says The Woven Impact Network

The Woven Impact Network is highlighting the necessity for women entrepreneurs to gain skills beyond financial grants for sustained business growth. The organization recently concluded its second Women WIN Business Excellence (WWBE) Programme, where 19 women entrepreneurs completed a three-month business development course. During the graduation, five outstanding participants and other awardees received grants totaling N1.5 million.

The WWBE Programme integrates financial aid with business education. This dual approach aims to equip entrepreneurs with the knowledge required for improved decision-making, operational enhancements, and pursuing long-term growth. Hakeem Subair, chairman of The Woven Impact Network’s board, congratulated the graduates, stating that while grants are valuable, enduring business expansion requires additional capabilities.

Developing Business Capabilities Beyond Funding

The program selected 25 women from more than 150 applications across 10 Nigerian states. Participants represented diverse sectors, including food and agriculture, manufacturing, and fashion. Over three months, they engaged in a structured curriculum designed to advance their business acumen, refine decision-making, and prepare their ventures for lasting expansion.

Olasubomi Sofowora, founder of The Woven Impact Network, explained that the program helps women entrepreneurs build businesses with greater confidence. It also assists them in making informed decisions and accessing opportunities to strengthen their enterprises. Sofowora noted that the WWBE program focuses on creating pathways for women to build with confidence, access opportunities, and recognize their contributions to economic and community development. The organization’s objective is to support women in establishing resilient and sustainable businesses that generate enduring economic and social value.

Sofowora’s remarks emphasize the program’s commitment to developing business capabilities alongside financial support. This strategy contrasts with the sole reliance on grants for fostering the growth of women-owned businesses. This initiative aligns with broader discussions on effectively supporting women entrepreneurs, as noted in discussions about how new bank charters could potentially help women entrepreneurs.

Dr. Mariam Temitope Masha, senior special assistant to the president on regional development programs, delivered the keynote address. She encouraged the entrepreneurs to recognize the wider economic and social impact of their businesses. Dr. Masha urged them to remain visible, actively seek opportunities, and leverage available programs and support systems. She also advised them to view the training completion as the beginning of a new phase to apply their knowledge, build relationships, and pursue growth opportunities.

Dr. Masha highlighted the national representation of the entrepreneurs. “You represent Nigeria. It’s not just about you as an individual woman, but the faces and stories behind the impact and the lives you’re touching. You’re growing a community, you’re growing a state, you’re growing the country, and you’re all winners,” she stated.

The program’s conclusion coincides with the significant roles women entrepreneurs play in sectors such as food production, manufacturing, and fashion. Business expansion in these areas can create employment, income, and local economic activity. However, the announcement did not provide specific figures on the businesses’ revenues, employment levels, or growth metrics before and after the program. The exact distribution of the N1.5 million in grants among the recipients was also not disclosed. The long-term impact of the program on business performance will depend on how participants apply their training, utilize the grants, and translate this support into sustained commercial growth.

Beyond the WWBE Programme, The Woven Impact Network engages in initiatives focused on women and youth empowerment, skills development, resilience, sustainable livelihoods, and access to opportunities. The organization reported that its programs and grassroots interventions have reached over 500 individuals, including communities in Makoko, Lagos, and an internally displaced persons camp in Abuja. As it approaches its fifth anniversary in 2027, The Woven Impact Network remains dedicated to addressing developmental challenges by equipping individuals and communities with the knowledge, resources, and opportunities needed to build sustainable futures. The Woven Impact Network’s approach underscores a growing understanding that while financial resources are essential, comprehensive support systems and capacity building are equally vital for women entrepreneurs to thrive. This comprehensive strategy is echoed in efforts like the SWIM Women’s Entrepreneur Success Club, which guides women entrepreneurs on capital strategy, and initiatives like the WeRise Network, which has trained thousands of women and youth entrepreneurs in Ghana.