Woven Impact says women entrepreneurs need more than grants to build sustainable businesses

Women entrepreneurs need more than financial grants to build sustainable businesses, as management skills, informed decision-making and access to growth opportunities remain important to the long-term survival of their enterprises, according to Woven Impact Network.

The organisation made this point at the graduation of the second cohort of its Women WIN Business Excellence (WWBE) Programme, where 19 women entrepreneurs completed a three-month business development programme and five outstanding participants and other awardees received grants totalling N1.5 million.

The programme highlights an approach to supporting women-led businesses that combines financial assistance with business education, equipping entrepreneurs with the knowledge to make better decisions, strengthen their operations and pursue sustainable growth.

For small business owners, access to funding is only one part of building a viable enterprise. Entrepreneurs also need the capacity to manage resources, identify market opportunities, make informed business decisions and develop strategies that can sustain operations beyond initial financial support.

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Hakeem Subair, chairman of the board of Woven Impact Network, congratulated the graduating entrepreneurs and commended the organisation’s work in supporting women in business. He emphasised that although financial grants are valuable, sustainable business growth requires more than funding.

The programme selected 25 women from more than 150 applications received from 10 Nigerian states across four geopolitical zones. Participants represented different sectors, including food and agriculture, manufacturing and fashion.

Over three months, they participated in a structured learning and development programme designed to improve their business knowledge, strengthen decision-making and prepare their enterprises for sustainable growth.

The grants awarded at the graduation ceremony are intended to support the development and expansion of the beneficiaries’ businesses.

Olasubomi Sofowora, founder of Woven Impact Network, said the programme was designed to help women entrepreneurs build businesses with greater confidence, make informed decisions and access opportunities that could strengthen their enterprises.

“WWBE is not simply about teaching women how to run businesses. It is about creating pathways for women to build with greater confidence, make informed decisions, access opportunities and recognise themselves as contributors to economic and community development. Our goal is to support women to build businesses that are resilient, sustainable and capable of creating lasting economic and social value,” Sofowora said.

Her remarks reflect the programme’s emphasis on developing business capabilities alongside financial support, rather than treating grants as the sole means of helping women-owned enterprises grow.

Mariam Temitope Masha, senior special assistant to the president on regional development programmes, who delivered the keynote address, urged the entrepreneurs to recognise the wider economic and social impact of their businesses.

She encouraged them to remain visible, pursue opportunities and take advantage of relevant programmes and support systems. She also urged them to treat the completion of the training as the beginning of a new phase in applying their knowledge, building relationships and seeking opportunities for growth.

“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,” Masha said.

The programme comes as women entrepreneurs continue to play roles in sectors such as food production, manufacturing and fashion, where business expansion can create opportunities for employment, income generation and local economic activity.

However, the graduation announcement did not provide figures on the businesses’ revenues, employment levels or growth before and after the programme. It also did not disclose how the N1.5 million in grants would be distributed among the recipients.

Consequently, the programme’s longer-term impact on business performance will depend on how participants apply the training, deploy the grants and translate the support into sustained commercial growth.

Beyond the Women WIN Business Excellence Programme, Woven Impact Network works on initiatives focused on women and youth empowerment, skills development, resilience, sustainable livelihoods and access to opportunities.

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The organisation said its programmes and grassroots interventions have reached more than 500 people, including communities in Makoko, Lagos, and an internally displaced persons camp in Abuja.

As it approaches its fifth anniversary in 2027, Woven Impact Network said it remains committed to addressing developmental challenges by equipping individuals and communities with the knowledge, resources and opportunities to build sustainable futures.

The completion of the second WWBE cohort represents another phase of that effort, with the organisation seeking to help women entrepreneurs strengthen their businesses and contribute to economic and community development.