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8 Hindrances Keeping Women-Owned Businesses from Scaling

By Blossom Ukoha A woman can build a profitable business, attract loyal customers and create jobs, yet still struggle to take that business to the next level. The challenge is often not a lack of ambition. It is a combination of financial, structural, social and institutional barriers that make scaling harder. From Lagos to London, Nairobi to New York, women entrepreneurs are building businesses across industries. Yet the International Finance Corporation (IFC) estimates that women-owned small and medium-sized enterprises in developing markets face a financing gap of roughly $1.5 trillion. Scaling requires more than starting capital. It requires access to markets, networks, technology, skills, assets and systems that allow a business to move from survival to sustained growth. Here are eight major hindrances. 1. Limited Access to Finance Capital is one of the most persistent barriers. According to the IFC, women-owned businesses face an estimated $1.4–$1.7 trillion credit gap. Women often…