Till a few decades back with relation to India’s cultures and traditions, the role of women was limited to only household works, rearing children and looking after family. But, over the years, the status of women in India has been changing due to various factors like as globalization, industrialization, education and of course social legislations. Today, women have come out of their comfort zones at home to be a part of professional activities. Be it in sports, politics, jobs, entertainment, business, Indian women have been able to make their mark but there is still a very long way to go.
Let us consider Entrepreneurship in India, which is still a male-dominated arena. But researchers and experts say that a country’s economic development is possible with the contribution of both men and women entrepreneurs.
Government of India describes women entrepreneurship as follows:
“An enterprise owned and controlled by women having a minimum financial interest of 51 per cent of the capital and giving at least 51 per cent of the employment generated in the enterprise to women.”
Half of India’s population comprises women but when it comes to their participation in the economic activities, it is only 25%, and when it comes to gender gap diversity in work force, India is one among the worst countries of the world.
According to 2015 Global Women Entrepreneurs Leader report by ACG Inc., out of the 31 countries taken into consideration, India’s rank is at 29. Such a disparity actually affects the overall economic growth of the country.
We need more and more women entrepreneurs in the country.
When more and more women join the entrepreneurship world, an overall growth of the country is expected because of the following reasons:
- Women entrepreneurs do things in a different manner as they see the world through a different lens, unlike men.
- They are more creative, innovative, hardworking and sincere.
- They are better at networking, communicating and organizing as compared to their male counterparts..
- They are known to be perfectionists and do not settle for mediocre output
- They are known multi-taskers
- They inspire other women to join them
- They are capable to work in a calculated and planned manner with a clear vision and objective.
- Women in Business knows to balance profession and personal life.
- Women have the inherent talent to build and maintain long-term relationships.
- And most important of all, they know to save money
How can women entrepreneurs contribute to the country?
Economic Growth: As per a Goldman Sachs report, when women work as entrepreneurs, they indirectly benefit future generations as they tend to focus more on their children’s education and health, which in turn can boost productivity of the country. They contribute towards innovation, job creation, and economic growth. They can start new businesses (basically home-based handmade business) which are unique and can cater to a totally different market. With proper women entrepreneurship services, they can do wonders for the growth of the country.
Reduces Gender Gap: When women join the business world, they can inspire other women to start businesses as well, especially home-based business, where they can transform their skill in any craft work or a hobby into a means of livelihood. This leads to more employment of women which in turn helps in reducing the gender gap in the workforce.
Brings About Social Change: Entrepreneurship helps women get rid of poverty. It helps to bring about a great social change as it makes women financially empowered and independent. This can improve their overall confidence and bring about happiness in their lives. Nowadays, you just need to have a skill and a passion to start something of your own with little or no investment.
Our country really needs more and more women entrepreneurs. It is essential to provide them all necessary support and tools to make them flourish in their field. Thankfully we have online women entrepreneurship platform like as Women in Business which can help women to start their own venture in a positive way with all support like as mentorship, training, promotion, sales support, and financial support.