Women thrive in SME business

Women have the ability to use their time, energy and resources effectively to meet and achieve business goals.

16 March 2020 | Banking

The growing involvement of women in the industry is vital. – Tracy Eagles, CMO: FNB Namibia

Staff Reporter - The small and medium-sized enterprise (SME) sector has seen an influx of women taking up opportunities in franchising, and experts expect this trend to continue over the next five years.

The chief marketing officer of FNB Namibia, Tracy Eagles, said women have the ability to use their time, energy and resources effectively to meet and achieve business goals.

“This trait, in my view, is the cornerstone for successful women in enterprises. In a country like Namibia, the growing involvement of women in the industry is vital, considering that women make up the majority of our population."

Market share

According to the International Franchise Association (IFA), more than 25% of women operate enterprises in the world and that doesn't include another 17% of the population where men and women operate enterprises together as partners.

Eagles pointed out that female entrepreneurs largely venture into the education, health, lifestyle, arts and crafts as well as beauty and cosmetics businesses.

She added that despite the limited awareness about the important role and great strides women continue to make in franchising, it's important for more women to consider exploring opportunities in this sector since it's one of the most resilient.

“The success rate of a SME business is far better than a traditional start-up. Consequently, franchising is one of the few industries in Namibia that is showing steady contribution to the economy and employment,” Eagles said.

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