We have heard in the news and media about this word. Let us first get a glimpse of this word.
Women entrepreneurship is the entering of women in the corporate world. “A woman is be considered as an entrepreneur if she starts her own business by herself or with some partners”. I have seen that most of the women in urban areas join their family business, where they do not have decision-making power.
While we see the picture in the rural area. People do not even consider women as equal status.
But, things are changing.
There was a survey on entrepreneurship, which tells that women entrepreneurship can generate around 150 to 170 million jobs by 2030. Which is around 25% higher than the jobs required for the working population, according to a report released by Brain and Co. and Google.
There are 16 million women-own entrepreneurship businesses. Which is around 20% of all the entrepreneurship business and it can provide employability to 27 million people at one go. If we motivate and support them, then the employability rate can increase to 60 million people and also it can provide indirect employment of up to 110 million people.
Proved by the survey
The survey also identified six dominant segments of women entrepreneurship. Due to the economic condition of our nation. Women’s participation in the labour market is declining. The major causes identified for this is a social barrier, technological disruption and trends in the labour market.
Although, unlocking entrepreneurship in India is still a hard step. But, if taken then all the women can become financially independent and it will change our economic and social structure. This step will give a tremendous boost to the job sector and most importantly, it will transform the social and personal results for women.
We have probably heard in many cases. That women are named as owners for the financial and administrative role. But they don’t have an active role to play in that business. Of all the enterprises owned by women. 38% of them are rural non-farm based business owners. Followed by 31% solopreneurs who generally run their business from home.
Another dominant sector includes agripreneurs (18%) which is a farm-based business. Followed by small business owners at 14%, which splits into two groups urban (8%) and rural (6%). Which employs less than 10 people and contributes to employment generation. The last category is of scalers who roughly contributes around 1% and employs more than 10 people. In a nutshell, these women entrepreneurship supply employment to 22-27 million of people.
Now we are going to see some challenges. That women are forced to endure in order to work as an entrepreneur in rural areas.
1. Male-Dominated Society-
Men and women have equal status and rights. This is mentioned in our constitution. But, this is not followed in rural areas. People believe that women are made for household work only. Entrepreneurship is seen as a male-dominated area from starting. These male entrepreneurs become a hurdle for women to start their businesses.
2. Limited Mobility-
In rural areas, women mostly live at home only. There is a restriction of mobility for them. Due to this, they are not able to drive vehicles. Moving to a different village and renting a room of business purpose can still be seen from suspicious eyes. Sometimes, women also feel uncomfortable with men who show more interest than work-related aspects. Security of women as an entrepreneur in rural areas is still a big challenge to overcome.
3. Limited Managerial ability-
Management is a specialised skill which is very essential in a business. Most of the women in rural areas are not educated and therefore, lack management skills like planning, organising, directing, controlling, coordinating, staffing. Less and limited material skills play a hindrance for women to run their business.
To summarize, although women entrepreneurship gives social and economic benefits. Still, they have to grow through various challenges like developing management skills, upscale their position in society and many other problems.
We hope that you liked this blog on “Women Entrepreneurship – New Trends In India”. Stay tuned with Blogger Bunny to read more informational and knowledgeable blogs. Meanwhile, visit – Women Entrepreneurs of India : #YouGoGirl