Women Entrepreneurship

Women Entrepreneurship

Modern times have witnessed an array of changes in societal activities. Among them the most significant and pertinent is woman liberation and empowerment. Modern women have traded into almost all spheres and have proved themselves which were previously the exclusive domain of their male counterparts. Endowed with famous female institution that helps them make the right choices even in situations where experience and logic fail, women have innate flair for entrepreneurship.

They are natural networks and relationship builders, forging powerful bonds and nurturing relationship with clients and employees alike. They are more inclined to seek out mentors and develop supportive teams. Women entrepreneurs need to be landed for their increased utilization of modern technologies increased investment, finding a niche in the export market creating a sizable employment for others and setting the trend for other entrepreneurs in the organized sector.

Gender equality and economic development go hand in hand. The emergence of women entrepreneurs and their contribution be national economy is quite visible in India. They now constitute around 10% of the total number of entrepreneurs with a rapidly increasing trend.

The growing recognition that the women have unique talents which could be harnessed for development, and for creating employment opportunities for others who are not suited to an entrepreneurial career, developing women as entrepreneur has become an important and integral part of national development planning and strategies.

With corporate eager to associate and work with women owned business and a host of bands and NGOs keen to help them get going, there has rarely been a better time for women with zeal and creativity to start their own business.

Concept of women Entrepreneur

The woman or a group of women who initiate, organize, and operate a business enterprise is known as women entrepreneur. A women entrepreneur has to perform all the activities involved in establishing an enterprise. These include idea generation and screening, determination of objectives, project preparation, product analysis etc.

1. According to Frederick Harrison:  “Any woman or group of women which innovates, imitates or adapts an economic activity may be called woman entrepreneurship”.

2. According to Government of India: “A woman entrepreneur is defined as an enterprise owned and controlled by a woman and having a minimum financial interest of 51 percent of the capital and giving at least 51 percent of the employment generated in the enterprise to women”.

3. According to J. Schumpeter: “Woman who innovates, imitates or adopts a business activity is called woman entrepreneur”.

The term woman entrepreneur signifies that section of female population who venture out into industrial activities i.e. manufacturing, assembling, job works, repairs/servicing and other business.

Women entrepreneurs in India -

Women entrepreneurship is gaining importance in India in the wake of economic liberalization and globalization. The policy and institutional framework for developing entrepreneurial skills, providing vocation education and training has widened the horizon for economic empowerment of women. However, women constitute only one third of the economic enterprises. There exist a plethora of successful business women entrepreneurs both in social and economic fields in India. They are performing well. Government of India has also introduced National Skill Development Policy and National Skill Development Mission in 2009 in order to provide skill training, vocational education and entrepreneurship development to the emerging work force. However, entrepreneurship development and skill training is not the only responsibility of Government and therefore other stakeholders need to shoulder the responsibility. In Hindu scriptures, woman has been described as the embodiment of shakti. But in real life she is treated as Abla. Women are leaving the workforce in droves in favor of being at home. Not to be a homemaker, but as job-making entrepreneurs. The increasing presence of women in the business field as entrepreneurs has changed the demographic characteristics of business and economic growth of the country. Women-owned businesses enterprises are playing a more active role in society and the economy, inspiring academics to focus on this interesting phenomenon. This paper focuses on the problems, issues, challenges faced by women entrepreneurs, how to overcome them and to analyze policies of Indian government for and problems faced by them while pursuing their business.