Gone are those days when
women didn’t share the same status as did men! This present era accounts for
the growth in women involvement and rise in every possible scenario, one big
part being Entrepreneurship. Long back, when the term “Entrepreneur” was used,
a picture of a man used to come to everybody’s mind, nobody could imagine women
as entrepreneurs for they were bound by the stereotypes that often held them
back. But now, the picture of an entrepreneur has changed, both men and women
are doing excellent in entrepreneurship. The participation of women is comparatively
lesser but no doubts, it is rising at a good pace.
Take into account some
great female entrepreneurs like Sara Blakely (founder of SPANX), Gisele
Bundchen (founder of Seja Skincare), Kiran Mazumdar- Shaw (India’s first
Biotech entrepreneur, founder of BIOCON) and the list will go on since there
are many powerful women leading huge and successful enterprises. Looking at
them is itself inspiring, these are the ladies which left all the stereotypes
and stood upfront in achieving their dreams. They’ve proved that women can not
only go into entrepreneurship but can also achieve heights, equivalent as men!
Their success stories have been commendable.
“An enterprise owned and controlled by a woman having a minimum
financial interest of 51% of the capital and giving at least 51% of the
employment generated in the enterprise to women” is a woman enterprise.
(Bhartvajan R, Sept 2014).
Image Source: www.webpower.com
Rise of Women Entrepreneurship.
“In 2016 the rate of women entrepreneurs saw the biggest increase in almost two
decades. Today, every month, 260 out of every 100,000 women chooses
entrepreneurship.” (Women Entrepreneurs Outlook, 2017)
Until now, there has been greatest growth in women
entrepreneurship. In 2016, it was the largest since two decades.
Globally, approx. 37% of the enterprises are lead by
women. (Saxena A, March 2016) That’s a good percentage as against a very low
proportion in earlier decades. Clearly, the proportion of women in
entrepreneurship has been increasing with the increase in awareness, education
and the fact of equality! Women have been performing extraordinally in this
field, and a lot number of successful entrepreneurs can be seen.
per recent Global Entrepreneurship Monitor (GEM),
million women were starting or running businesses
million were operating established (over three and a half years) businesses.
means there are 224 million women on a whole impacting the global economy and
leading examples for other women like them, provided that survey counted only
67 of the 188 countries over all recognized by the World Bank. (Saxena
A, March 2016)
That’s something to be proud of! Not to sideline
the fact that within a few decades, women will rise up to leading equal number
of enterprises as men do! The golden era has just begun and awaits real time
accomplishments by women, apart from those already achieved by some of our
great ladies. That in fact, will strike a balance in gender treatment and will
show the world a fairer scenario.
When it comes to social enterprises, women led enterprises are often seen to be
contributing more towards social upliftment of women. (ALC India, Transforming
India Initiative, Aug 2017)
Take an example of Rajashree Birla (Chairperson of
Aditya Birla Centre for Community initiatives and Rural Development (ABCCIR),
she heads it and ensures charity efforts, developmental activities and women
empowerment and was even felicitated with the Padma Bhushan Award for her
The following diagram shows the roles of
women entrepreneurs in brief.
A woman entrepreneur, as known has to handle her
personal as well as her professional life which often acts as the greatest
barrier in her involvement in entrepreneurship. But there is enough evidence
that a lot number of women have excelled in both of these aspects.
A woman starting business in India surely faces more
challenges than men since here in India, there are a lot of barriers that women
face. They are:
Finance: Sara Blakely invested her whole
life savings in her enterprise that was $5000. Likewise, there is a need of
finance which usually involves great amounts of savings or self-generated
funds. Relying solely on loans with no fixed anticipated returns becomes risky.
Women surely face more challenges in generating finance.
Lack of support by people from their
families, society in general and staff.
Lack of technical skills or managerial
skills. Women in India are often held back and not allowed to develop as a
Education: Although there is a growth in
the percentage of girls getting education, still there is a huge gap between
male and female literacy. People still, as of now in current scenario want
their girls to sit at home and do household chores.
Limit to mobility: Since women have to
manage their home and enterprises, they face limited mobility.
Lack of confidence: Women often go for
jobs or teaching, but when it comes to entrepreneurship, most of the women are
laid back. (Bhartvajan R, 2014)
Male Dominated Society affects the growth
of women in a lot of aspects.
Following are the results of a survey done to clear
out the misconceptions about women entrepreneurship.
asked are given on the left hand side, with options to be chosen on the right
hand side. The graph in the middle suggests the final results.
Image Source: www.womensweb.in
Clearly, when it comes to mentor another woman,
majority of people feel that a woman can do it better since women understand
the problems of other women better than men, and the mind of a woman
psychologically accepts and understands the views and advices of that of woman,
more easily and willingly.
Gender affects the
decision making, for sure. Women’s decisions are bound and affected by their
mindsets, personal life, the factors that keep them motivated and the
negativity that comes her way just because she’s a woman. There are a lot of
people who still are biased towards women and they feel women can’t do better