The February edition of the SheMeansBusiness Dialogue, organized by the NECA’s Network of Entrepreneurial Women (NNEW), provided women entrepreneurs and small business owners with practical insights into accessing funding and maintaining financial discipline for sustainable business growth.
The virtual session featured Dr. Femi Egbesola as the guest speaker, who delivered an extensive presentation on “Accessing Funds and Financial Discipline for SMEs.”
Welcoming participants to the dialogue, the Publicity Secretary of NNEW, Mrs.Eniola, emphasized the importance of entrepreneurship, continuous learning, and financial empowerment, particularly for women-led businesses. She encouraged participants to engage actively and reflect on their financial management practices, noting that business growth requires intentionality and discipline.
Also speaking during the session, the President of NNEW, Adefunke Kuyoro, stressed the need for entrepreneurs to remain adaptable and committed to improving their business operations in order to achieve sustainable growth.
In his keynote presentation, Dr. Femi Egbesola highlighted the challenges many women entrepreneurs face in accessing funding despite women accounting for a significant percentage of Nigeria’s MSME ecosystem. He noted that limited access to formal financing continues to hinder innovation, expansion, and economic growth for many small businesses.
The session explored several funding options available to entrepreneurs, including grants, loans, investments, accelerator programs, crowdfunding platforms, invoice financing, factoring, and venture capital opportunities. Dr. Egbesola explained that while funding is important, businesses must first be structured and financially prepared before seeking investment or financial support.
Participants were introduced to various government and private sector initiatives supporting SMEs and women entrepreneurs, including the Development Bank of Nigeria Entrepreneurship Training Program, the Lagos State Employment Trust Fund W Initiative, the Youth Entrepreneurship Support Programme, and funding opportunities through the Bank of Industry and agribusiness-focused organizations.
Dr. Egbesola also discussed recent developments such as the Nigerian Credit Guarantee Company, designed to help SMEs secure loans with reduced collateral requirements, and the National Collateral Registry, which allows businesses to use movable assets as collateral for financing.
A major focus of the dialogue was financial discipline and business structure. Participants were advised to maintain proper bookkeeping systems, separate personal and business finances, prepare clear business plans, and develop realistic cash flow projections. The importance of maintaining accurate records and understanding the right type of funding suitable for each stage of business growth was strongly emphasized.
The session further highlighted the role of accelerator programmes that combine funding with mentorship and business support services to help entrepreneurs build scalable and investment-ready businesses.
During the interactive question-and-answer session, participants sought clarification on age restrictions for grants and loans, bookkeeping solutions for small businesses, invoice financing, and how to improve eligibility for funding opportunities. Dr. Egbesola reassured participants that many funding programmes are accessible beyond youth-focused initiatives and encouraged entrepreneurs to position their businesses strategically.
Free bookkeeping software solutions such as Zoho Books and QuickBooks were also recommended as practical tools for improving financial management and accountability within small businesses.
The meeting concluded with additional information about joining NNEW and benefiting from its business support network, training opportunities, mentorship initiatives, and entrepreneurial resources. Participants were also informed about upcoming NNEW Academy programmes aimed at strengthening entrepreneurial capacity and business development.
Through impactful initiatives such as the SheMeansBusiness Dialogue, NNEW continues to empower women entrepreneurs with the knowledge, tools, and strategic guidance needed to access opportunities, strengthen financial management, and build sustainable businesses.