SPONSORED: Here’s to levelling the playing field! Explore the vital role of business marketplaces in empowering women entrepreneurs with FNB
In recent years, the growth in the number and value of women-owned businesses has been remarkable. This journey, however, hasn't been without its challenges. The entrepreneurial landscape has historically been uneven, with women not always given the same opportunities as men to grow their ventures. While the scales are tipping toward equality, the fact remains that success for a woman in business often requires a greater degree of perseverance, resilience, and tenacity.
Many female business owners still experience limited access to business networks and mentors, which are vital for gaining industry insights and growth opportunities. Gender bias and stereotyping continue to undermine women’s capabilities and expertise. And market access issues, discrimination in business services, underrepresentation in industry events, and challenges in establishing credibility further exacerbate the situation for many female entrepreneurs.
Overcoming these barriers is not just a matter of fairness, but also a necessity for a vibrant and inclusive economy. The good news is that as the business world evolves, the narrative around female entrepreneurship is steadily changing from focusing solely on the barriers women face to highlighting the empowerment that comes from ensuring they have access to the right tools and marketplaces. Platforms that provide these resources, like nav» Marketplace on the FNB App, are not just levelling the playing field; they are creating new spaces where women’s businesses can gain access to markets and contribute to the opportunity to thrive.
FNB’s nav» Marketplace offers a robust environment where women entrepreneurs can connect with the tools, people, and networks they need. While this platform is part of a broader support system, its impact is profound. Through it, women can list their services, build profiles that resonate with their brand identity, and engage with potential customers securely. It’s an ecosystem designed to foster trust and encourage professional growth.
Small wonder, then, that since its inception, nav» Marketplace has attracted hundreds of thousands of clients searching for service providers on the FNB App, resulting in hundreds of jobs with a combined revenue value of over R3.7 million generated for service providers via nav» Marketplace. In addition, close to 100 female-led businesses have been recognised with a Women in Business badge on nav» Marketplace as part of a pilot project
One of the most significant benefits of these types of business-building platforms is the potential for increased sales. Access to broader markets means that women entrepreneurs can scale their businesses beyond local boundaries. This expansion is not merely about profit; it’s a means of amplifying the presence of women-led businesses in the marketplace, showcasing the diversity of their capabilities and contributions.
Brand promotion is another key advantage. As women entrepreneurs gain visibility through these platforms, their stories become a powerful tool for brand building. Each success story becomes a beacon, encouraging more women to embark on their entrepreneurial journeys.
The networking opportunities provided
by innovative business-focused platforms can also be transformative. Female
business owners can easily connect with other business leaders, mentors, and
peers, fostering relationships that can lead to collaborative ventures and
shared growth. These networks add immense value to businesses, often in
unexpected and innovative ways.
Furthermore, these platforms can help women add value to their businesses in ways they may not have considered. By navigating through a marketplace, entrepreneurs can identify gaps in their business models and value propositions, and find resources to fill them, access services that streamline their operations, and tap into insights that inform smarter business decisions.
In South Africa, where gender and racial inequalities present additional complexities, platforms like these are instrumental. They not only provide the necessary resources for starting and sustaining a business but also play a crucial role in fostering inclusive economic growth and competitiveness in the markets.
International Women’s Day on 8 March 2024, with the theme of “Inspire Inclusion,” is a reminder to all of us of the importance to continue doing our part to level the business playing field for women.
Content shared third-party client: Nicole Sykes, National Head - Women in Business Niche, FNB Business and Jolandé Duvenage, Chief Imagineer (CEO) of nav» from FNB.
