Factors Booming Women Entrepreneurs In Every Field
At this time and age in India, we can proudly declare that women entrepreneurs in India are not a mysterious concept. Women in India have taken up entrepreneurship on a small and medium scale since time immemorial, but much of it has begun with the need to run their households and businesses.
The modern Indian woman is no longer typically in a need-based environment. Taking the lead in entrepreneurship now is a matter of choice and they are no longer restricting themselves to certain sectors but their expertise and creative reach across sectors - from conventional sectors like food processing, agro-products, handicrafts, and textiles.
Women entrepreneurs are now venturing across sectors like Aviation, real estate development, ITES, BFSI, Pharmaceuticals, hospitality, tourism, etc.
India has been labeled as one of the fastest-growing start-up communities in the world, with 11% of the adult population involved in early-stage entrepreneurship.
The participation of women entrepreneurs in the new start-up industry is also gradually growing. According to the Sixth Economic Census released by the Ministry of Statistics and Program Implementation, sectors constitute about 14 % of total entrepreneurship, i.e. 8.05 million out of a total of 58.5 million entrepreneurs in India.
In comparison, the share of women in the non-agricultural industry is around 65 % of all women entrepreneurs, totaling 5.29 million people! The nation has seen a sharp growth in the number of women driving in as entrepreneurs and supporting others to create major companies.
But, some of the major obstacles they face include:
• Talent: the possibility of finding people with the requisite skills and expertise to handle and scale a company.
• Culture: the existence of appropriate peers, networks, and role models.
• Technology: Global networking of women entrepreneurs through the Internet and social media.
• Capital: the frequency and value of funds received by women-led companies.
• Market: whether a woman entrepreneur exists in a market of substantial strength, such a scale can be achieved.
Notwithstanding these difficulties, a multitude of policy initiatives – from taxes to funding and finance standards, and the emergence of professional networking sites – have helped to build a welcoming environment.
Changing trends in the corporate, social, and higher education sectors are further enabling
women to take a leap and realize their entrepreneurial potential. These include:
1. Windows of Opportunity
Increasing emphasis on diversity in the workplace has meant that more people have access to
opportunities in the business sector. And as the business world of the 21st-century shifts into a
competitive economy, Women of competence are qualified to work not only in the state or
national environment but also to gain access to international work environments, giving them
an equitable chance to know and develop their skills in the field of selection.
This, in effect, has given them ample international recognition and domain expertise as they
plan to continue their entrepreneurial journey.
2. Training and education
Through the widening of business opportunities, more people are entering the areas of
education related to STEM (Science, Technology, Engineering, and Mathematics), previously
considered a male sphere.
In addition to STEM, there has also been a steady growth in women engaged in professional
management education across sectors such as logistics and supply chain, banking,
international business, textiles, etc., adding further to the empowerment of women
entrepreneurs.
3. Financial Independence
With an approach to corporate opportunities and education, more women, particularly the
millennial generation, are gaining financial independence as never before.
Though women in India have traditionally been committed members of the family and
contributors to family income, the modern generation of 'wives' also not only receive equal
salaries or more than their men and contribute or even run the household, but also make their
own buying and investment choices, prepare long-term savings and have direct control of their
earnings. This is a key motivating element when starting up as an entrepreneur.
4. Access to Mentoring
With international exposure and a more welcoming working atmosphere, women have better
access to skilled mentors who can direct and develop their skill sets.
In turn, with strengthened social, financial, and information resources, more women
entrepreneurs are encouraged to communicate and interact with peers and fellow
entrepreneurs on business and networking channels, allowing them the ability to learn and
tackle issues in a more knowledgeable and driven manner.
From women-only networking and business groups to diverse international forums for industry
and networking, women entrepreneurs not only gain access to professional mentors and
technology suppliers but also create a broad collaboration network, across gender inequality
and sectors.
5. Social Dynamics
From joint home duties and supportive maternity policies at work, more women are now
encouraged to achieve their career aspirations and ambitions. Apart from a more inclusive
social environment, gender-defined roles and expectations have also shifted, making it more
fluid and individualistic.
Furthermore, this empowerment offered a voice and a motivation for women entrepreneurs to
work in fields related to the needs of other women. The number of start-ups tackling issues
ranging from women's wellbeing and maternity to women's hygiene and mental health is a
sector that is increasingly being tackled, due to the modern era of women entrepreneurs.
Straight Way:
Even as more women entrepreneurs are growing and making their presence known, due to the
above reasons, there is still a long way to go from a mere 14% to a full 50% of the Indian
start-up and entrepreneurial community.
Also Read: Leadership: Building Humanity & Fostering Businesses
From technology to finance, from fashion to retail, women, as start-up founders are increasing
their reach, making the most of every chance. In a nation with the largest population of young
people and one of the fastest-growing entrepreneurial economies, women are firmly committed
to paving the way for growth, in full collaboration with their male counterparts.
Now, there is not any single sector in which women are not participating. They give one-on-one
competition to male entrepreneurs. Now, women entrepreneurs are thriving in every sector
from start-ups to MNC’s.
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