Women Entrepreneurship is about women starting a business, gathering all the resources, taking risks, facing challenges, providing employment to others and managing the business independently. About 1/3 of entrepreneurs in the world are women entrepreneurs.
According to the definition provided by the Government of India: 51% of the capital of a female entrepreneur is defined as a company owned and controlled by women with minimum financial interest and provides employment of at least 51% of employment generated by women.
Women Entrepreneurship refers to a business or organization started by a woman or group of women. There has been a shift in the urbanization of education and the industrialization of women’s awareness of democratic values.
Businesses Promoted by Women Entrepreneurs:
1. Pickles production
2. Production of Agarbatti
3. Beauty Parlor
4. Papad making
6. Running a restaurant, bars, etc.
7. Catering services
8. Small Retail Stores
Women entrepreneurs can be broadly classified into five categories:
1. Pull Factors – These are educated women living in urban areas with or without work experience taking the risk of a new company with the help of financial institutions and commercial banks. These women take on a challenge in a new profession to be financially independent.
2. Push Factors – These women undertake some business activities to deal with financial problems. Typically, widows and single women manage an existing family business or create a new business due to difficult family circumstances.
3. Self-employed – They are uneducated women studying below the poverty line. They choose small and small companies that are comfortable to manage and sufficient for the livelihood of his family.
4. Rural Entrepreneurs – These women belong to the rural areas and choose the business that suits their resources and knowledge. The business undertaken involves minimal investment, minimal risk, and does not require specialized skills.
5. Affluent Entrepreneurs – These are the daughters and wives of wealthy businessmen. These women have the resources they need to finance and start a new company and take business risks.
Reasons for the growth of women entrepreneurs:
1. Companies promoting women entrepreneurs
2. Growth in literacy level.
3. Awareness of democratic values
4. Industrial and economic development
5. Financial assistance and advisory services provided by financial institutions
Issues faced by women entrepreneurs:
1. Women’s Issue in India – Women entrepreneurs face difficulties due to specific women issues in India arising due to old traditions, socio-cultural norms, male-dominated society, family responsibilities, Indian values, and norms.
2. Entrepreneurship issues:
i. Corruption in Government Institutions.
ii. Price and availability of raw materials.
iii. High competition in low-tech products
iv. Financial Issues.
v. Face technical obsolescence due to a lack of support.
3. Issues specific to women:
i. Movement issues
ii. Family responsibilities and lack of support from family members
iii. The exploitation of the middle man
iv. Women must depend on men to perform a job that requires muscle strength.
v. Women are considered weak in Indian society, so men are preferred over women to face the troubles and difficulties associated with a company.
The Future of Women Entrepreneurs in India:
The United Nations Industrial Development Organization (UNIDO) declared the decade of 1975-85 a decade for women. The Title Role of Women in Industrialization in Developing Countries In 1878, a conference held by Unito in Vienna aimed at eliminating social, attitudinal and institutional barriers and increasing women’s participation in industrial activities.
(i) The United Nations organized a conference for women in Copenhagen on June 30, 1980, aimed at promoting equal opportunities and equal treatment for women in employment.
(ii) The National Conference for Women Entrepreneurs was held in New Delhi, India in November 1981.
(iii) Seventh Five Year Plan focusing on the integration of women in development.
(iv) The National Alliance of Young Entrepreneurs Organized a Conference on Women Entrepreneurs in New Delhi in 1989, which issued the following announcements.
(a) The State and the State shall promote the participation of women in social and economic development projects.
(b) Women should be provided with financial assistance and advisory services for export.
(c) Exhibitions and exhibitions with products made by female entrepreneurs should be widely advertised.
(d) The Ministry of Education shall provide for the education and training of female entrepreneurs.
Companies that promote women entrepreneurs in India:
1. Self Employed Women’s Association (SEWA)
2. Women’s Development Corporation (WDC)
3. Women India Trust (WIT)
4. Working Women Forum (WWF)
5. National Resource Center for Women (NRCW)