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By Shumirai Chimombe 

The rise of female entrepreneurship has been referred to as one of the most important human resources in the 21st century that contributes towards global economic and social development. However, most female entrepreneurs in South Africa are experiencing growth and development challenges due to inadequate access to formal entrepreneurial networks among women. 

This is according to a North-West University study titled ‘Exploring networking between women entrepreneurs in the business environment in South Africa’.

The study revealed that formal networks are greatly important when it comes to assisting women entrepreneurs with financial, moral and other material support. However, most women entrepreneurs are not aware of such networks which makes it difficult for them to enhance their business performance. It recommended that policymakers should formalise networking at a national level as a supporting tool for women in business as it is an excellent link for opening doors for business opportunities, growth and running a successful business.

Leveraging business networks – the benefits

Running a business – and a small business in particular – can be an isolated and lonely enterprise. And without the necessary support, confronting the inevitable challenges can be tantamount to navigating choppy waters with no compass to indicate which direction you are heading. Building a good network allows you to share experiences with other like-minded entrepreneurs, discussing common challenges and receiving moral support. 

The study proposes some benefits to networking which include:

• Business networks provide entrepreneurs with the opportunities to identify, develop and take advantage of economic opportunities, build relationships, share information and search for potential associates for business ventures. 
• Creating supportive relationships among women entrepreneurs can play a significant role in helping more women advance in making a success of their businesses.
• Associating with other female entrepreneurs through entrepreneurial networks who understand business ventures can contribute significantly to business performance and success. 
• Networks provide entrepreneurs with opportunities to obtain resources at a lower cost as well as gain access to resources that could not be accessed otherwise.
• Entrepreneurial networks are the means through which businesswomen may communicate vital information as well as gain access to essential resources to enhance business success. 
• Women entrepreneurs with an extensive range of diverse networks are more likely to create contacts that link them to better opportunities such as financial resources, access to supplies, new clientele, acquiring knowledge and support. 
• Networks and networking activities have processes and structures that female entrepreneurs can use to build credibility and trust for themselves in the business environment.
• Women networks respond to fighting gender discrimination, gender inequality, stereotypes, and traditional expectations in the business and societal stages. In literature. 
• Networking organisations advocate for women to participate in networking events relating to business activities for advice, free information, business support and working to increase their numbers, sustainability and success, training and to make women visible. 

Networking events: Opportunities for making meaningful connections

Networking events and business conferences are valuable platforms for women to connect, share experiences, and seek guidance from each other. They create opportunities for collaboration and business growth, while also providing inspiration from presentations by industry experts and thought leaders. 

Entrepreneurship networking is important because the connections you make with other professionals can help you with every aspect of your own business and build business contacts. These contacts make valuable tools to help you find entrepreneurial support and prospective clients within the business community. 

The annual Standard Bank Top Women Conference which takes place in November brings together global thought-leaders and experts to offer inspiration, practical solutions, networks and support to women entrepreneurs in Africa. This two full-day immersive conference features multiple breakaway sessions, live Q&A sessions and access to fast-track networking sessions. 

Find out more  about our previous conference speakers and stay updated about the next conference for 2025.

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