Navigating the corporate world and the entrepreneurial landscape as a woman presents unique challenges and opportunities. However, Nikki Swart, Managing Director at alternative lender Merchant Capital, emphasizes that a journey of continuous self-development, the learned ability to self-coach, and a commitment to showing up every day as your most authentic self are all tools within everyone's reach.

Speaking during Women’s Month, Swart asserts that personal growth is the first step toward business growth. “By embracing authenticity, overcoming self-doubt, and being self-led, women can unlock their full potential and lead fulfilling, successful careers.”

Swart has taken on mentorship roles for women—and some men—in her corporate experience. She emphasizes that these tools are also critical for female entrepreneurs to integrate into their skill sets.

For context, only 30% to 40% of the funding granted by Merchant Capital is applied for by women-led small, medium, and micro enterprises (SMMEs). Overall, female ownership of SMMEs in South Africa declined from 48% in 2008 to 38% in 2017. Swart also notes that male entrepreneurs who apply for funding from Merchant Capital are “far more likely” to negotiate terms and numbers.

“It’s possible that imposter syndrome—a psychological phenomenon where individuals doubt their abilities, feel like frauds, and fear exposure as unworthy of their accomplishments—holds many women back,” says Swart. According to KPMG, 75% of female executives have experienced imposter syndrome at some point in their careers.

Overcoming imposter syndrome involves recognizing and challenging internalized beliefs. “Self-coaching has been a powerful tool for me. By regularly reflecting on my challenges, achievements, and capabilities, I have built confidence and reduced self-doubt, finding my voice in the workplace. This skill has transformed my interactions in business settings, fostering meaningful and productive relationships.”

Embracing authenticity is also key to success. In the business world, being authentic means being honest about what you know and what you don’t know, voicing your opinions confidently, and not feeling the need to conform to traditional roles. Swart notes that the more she presented her true, authentic self, the better she was received, both personally and in her contributions to a thriving business environment.

For women entering the corporate world or embarking on entrepreneurial ventures, Swart offers straightforward advice: “Work hard, be authentic, and don’t be afraid to ask questions and voice your opinions. Try your best at the things you’re good at, learn something new when you start coasting, and don’t feel the need to fit into a certain mold.”

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