Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur is an individual who creates or invests in one or more businesses. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business or proceduresA fast-developing nation like India requires a strong female entrepreneurship index. Currently India has more female owned businesses than several other countries. Despite immense support and opportunities, why does the Indian market have a massive gender gap of over 70%?
Female entrepreneurs face multifaceted challenges that stem from social, economic, and cultural factors in every other part of the world that are unique to their gender.
Even though Indian society has evolved and everyone claims that men and women are equal, gender barriers still exist heavily. Despite the government’s efforts to encourage women’s leadership and empowerment, it is still challenging for females to prove their skills and gain recognition for their endeavors.
Gender inequality and pay gaps are the most common problems women entrepreneurs face in India. They still need their husband, brother, or father’s ‘permission’ to go for a job or start a business. Such blockades prevent female entrepreneurs from scaling the heights they are capable of
The most common challenges faced by women entrepreneurs are:
Access to finance: Investors and financial institutions often show biased attitude towards female entrepreneurs raising questions as to whether they can handle funds or manage a business on their own. Women entrepreneurs especially first-time business owners, may not have a credit history, which makes it challenging to get loans.
Societal and cultural norms: In almost every culture women are expected to focus on household and look after their kids, they aren’t allowed to have careers or aspirations. Lack of affordable childcare and family support adds to the stress, the constant juggling of work often ends up in burnout. This in return kills their dream and despite having talents they aren’t able to showcase it to the world and lag behind.
Women are so often perceived as less competent than men which leads to them gaining fewer opportunities. In many societies men are hesitant to accept women in a position of authority affecting their ability to lead business effectively.
Networking and mentorship: Women often lack professional networking which are usually dominated by men, which are essential for business opportunities and partnerships hence they lose out on many significant offers which come their way. There is also a lack of experienced women entrepreneurs who are willing to guide and mentor aspiring ones. Male dominated internal networks often include after work gathering and meetings at various golf clubs or parties which tend to exclude women, hence not giving them a chance to form proper networks.
Gender biasedness: Women’s ideas and decisions are often questioned and at times undervalued as compared to men breaking their morale in return. In most cases women entrepreneurs face pay difference and less opportunities to grow as compared to their male colleagues. They also face multiple challenges un gaining respect and trust in a male dominated industry such as technology or construction.
Less access to technology: Women, especially in rural settings lack the basic technologies like smartphones, computers or internet access, in addition to this women are often underrepresented in industries like tech which reduces their capacity to utilize innovation in their businesses. They also lack proper access to training programs to nurture and enhance their skills such as marketing and leadership.
Safety and security issues: Women often face sexual assaults in work places which is very discouraging to others who plan to start their entrepreneurial journey. They also suffer from insecurity and are uncomfortable in visiting far flung locations, as a result it restricts their movement and activities.
Legal barriers: Women in often countries are not allowed to own property and run business independently showing the loopholes in the legal system. Bureaucratic procedures are often more troublesome for women as they seldom face societal biases and are often misguided which causes a hindrance in effectively completing their jobs.
It is very essential to empower women entrepreneurs as a society not just an individual especially in a developing democracy like India. This requires collaborative efforts from governments, financial institutions, private organizations etc. initiatives such as gender sensitive policies, access to proper education and training and robust networks can be of huge help in empowering women entrepreneurs.
Paushtik life is an initiative that aims to transform lives through sustainable solutions, focussing on creating a joyful, organic lifestyle while addressing food security issues. paushtik life encourages women employment in many ways.
The ratio of women to male ratio is 60:40 here which is a great step towards women empowerment. Most of the women here are first generation learners and are taught several skills like cooking, basics of entrepreneurship and several other life essential skills which helps them help their family in return. The skills they learn here encourage and help them a great deal in becoming future entrepreneurs.
- Rupsha Sengupta, Pursuing B.A. (English), Loreto College,