Advancing Women's Entrepreneurship in India: Overcoming Bottlenecks
Women's entrepreneurship in India faces challenges, limiting economic growth. Encouraging female participation, especially in MSMEs, can boost GDP, create jobs, and foster innovation, benefiting the economy as a whole.
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Bottlenecks On The Way Of Women Bottlenecks On The Way Of Women Entrepreneurship In India Entrepreneurship In India Sonia Kumari Dr. Navjeet Kaur (Research Scholar) Assistant Professor Sri Guru Teg Bahadur Khalsa College Sri Guru Teg Bahadur Khalsa College Sri Anandpur Sahib Sri Anandpur Sahib.
Entrepreneurship: Entrepreneurship: The term Entrepreneur first used by Richard Cantillon in 1755 and then popularised by John Mill in the Anglosphere. The role of the entrepreneur is designed in order to go beyond the imperative of profit earning. Global Entrepreneurship Monitor (GEM) defines this term simply as an activity of being engaged in starting and running of new business. National Knowledge Commission (NKC) entrepreneurship in India (2008) defines entrepreneurship as the profession requires knowledge, skills and competencies and/or of monetizing an innovation, by an individual or a set of people by setting up an enterprise or variegating it from an existing one, to chase growth along with wealth maximization, employment generation and social good. of India, in its report on
Entrepreneurshi Entrepreneurship Entrepreneurship is not limited to any particular gender, when the women add up to almost half of the population, their non participation in entrepreneurial activities would cause uneven economic growth and there is divergence in the economic status of women in countries especially in India. European Commission defines a female entrepreneur as a woman who has created a business in which she has a majority shareholding and who takes an active interest in the decision-making, risk-taking and day-today management.
No. of Entrepreneurs (MSMEs) No. of Entrepreneurs (MSMEs) It is the MSMEs promoting entrepreneurship and generating large employment opportunities at lower costs after agriculture. The ministry of MSME is working towards inclusive development of all the weaker sections of the society. The process of filing of Udyog Aadhaar Memorandum has been replaced with Udyam a portal developed by the said ministry. industrial sectors Food Products, Textile, Apparel, Fabricated Metal products and Machinery & equipment. There have been 5,37,677 and 8,65,058 enterprises registered under the category of manufacturing and services respectively. As on 31 March 2021 there have been 630.52 lakh MSMEs in India out of which 51% are rural and 49% are in urban areas. Registration with top five
Economic contribution Economic contribution If the MSMEs generating employment opportunities and promoting entrepreneurship through innovations with enlarged domains are considered are contributing about 30% in the GDP of India and around 50% of total exports.73rd round of National Sample Survey (NSS) that was conducted in 2015-16 highlight that the MSMEs providing 11.10 crore jobs in different sectors of the economy both in rural as well as urban areas. Capital formation through employing self- owned and borrowed capital Promote regional balanced development. Accelerate the rate of economic development
Roadblocks On The Way Of Success Of Women Roadblocks On The Way Of Success Of Women Entrepreneurs Entrepreneurs Deficiency of knowledge due to no or low level of education and training opportunities especially in the rural areas Low level of managerial skills essential for the smooth running of business activities. Limited access to capital The fear of being failure, Lack of self-confidence, Harmonization of work life and household responsibilities, Limited social network, More than the legal but the traditional or the religious constraints that restricts the women to grab the opportunity to start and run a business.
Gender Biasness Gender Biasness: GEM report support the fact that more entrepreneurial activities are being held by the males than that of the females. As out of 608.41 lakh proprietary enterprises 79.63% of the MSMEs were male owned whereas 20.37% owned by the females on 31 march 2021, and this dominance has been more prominent in urban areas with 81.58% male owned enterprises. This percentage of female owned enterprises decreases as we move from micro to small and then medium category enterprises; that is only 5.26 % and 2.67% respectively, (MSMEs Annual report 2020-21).
Percentage Of Women And Men Entrepreneurs Engaged In Percentage Of Women And Men Entrepreneurs Engaged In Entrepreneurial Activities In Different Regions Across The Globe. Entrepreneurial Activities In Different Regions Across The Globe.
Initiatives By The Indian Govt.(at Central And State Level): Initiatives By The Indian Govt.(at Central And State Level): Various policies and programmes have been enacted by the central and state governments to encouraging women entrepreneurship in India. Some of those are as following: 1.Start Up India 2.Prime Minister s Employment Generation Programme (PMEGP) 3.Udyam Sakhi 4.Economic empowerment of Women Enterprises and Start-up by women 5.Stand up India Scheme 6.Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) 7.Micro & Small Enterprises - Cluster Development Programme 8.Mudra Yojana Scheme for Women 9.Exhibition for Women under promotional package for Micro and Small Enterprises under marketing support 10.Financing Schemes offered by Banks
Findings and suggestions Findings and suggestions Studies highlight that the women in other countries for example Poland engaged themselves in entrepreneurial activities after formal training and are involved in both traditional as well as non- traditional businesses. Majority of the ventures stated by the women are influenced by the problem or gap they experience personally or professionally and the main motive behind setting up a venture is not always profit, (Eugenia Rosca et al.(2020)) . various factors those influence the women entrepreneurs are: - Economic dependence Motivation- Status in society- Freedom and mobility to establish their own identity- Achievement of excellence- Confidence- Risk-taking ability (St Rao et al., 2011). Besides this the employment of limited amount of resources at the time of exploration of the opportunity, challenge for the women entrepreneurs to acquire resources and partnership for established growth of the business, training and awareness camps do also play critical role in establishment and growth of ventures set up by the women, (Eugenia Rosca et al., 2020).
Conclusion Conclusion The transition from homemaker to sophisticated business woman is not that easy. But the trend is changing. Over the last few years the outlook of Indian women is changing and they are fast emerging as potential entrepreneurs. They are growing as a designer, interior designers, exporters, publishing, clothing and also starting day care centres and nurseries for children and also for the elderly and always looking for new modes of economic participation. There is a need to provide more and better access to finance, - Access to business support and information, - Access and vigilance on the latest information science and technology, - Breaking through traditional patterns and structures that inhibit women s advancement, - Develop confidence- Understanding of Business Administration and, - Removing of any legislation which impedes women s free engagement.
