Women EntrepreneurshipIntroduction:

Women are goal-oriented, flexible, tolerant, creative, realistic, enthusiastic and energetic because of which the management style differs from their male counterpart. They are by and large born managers as they manage their house. They can simultaneously do more than one task at a time and have good coordination skills. They invariably think of entering a business once their children are grown up and household responsibilities get reduced. Women relyon their finance and avoid availing of loans. They also differfrom men in the types of business they start.

Status in India:Women constitute about 50% of the population of India with lower literacy rate than that of men. They, however, constitute 10% of the number of entrepreneurs in India.For the economic growth of the nation, women should not be ignored and they should be encouraged to make their

share of economic contribution to the country. One way of achieving is by making women come out and becomeentrepreneurs.

Definition: Women entrepreneurs may be defined as “woman or groupof women who initiate, organize and run a businessenterprise.” Government of India has defined womenentrepreneurs based on women participation in equity andemployment of a business enterprise. Accordingly,“ a woman-run enterprise is defined as an enterprise owned and controlled by a woman having a minimum financial stake of 51% of the capital and giving at least 51% of the employment generated in the enterprise to women.”Women become entrepreneurs due to economic factors which push them to be on their own and urge them to do something independently. Women prefer to work fromtheir own residence. Difficulty in getting suitable jobs and the desire for social recognition motivate them towards

self-employment. We see a lot of women professionals inengineering, medicine, law and also as a Chartered Accountants, etc. They are also setting up hospitals, training centres etc.

Problems of Women Entrepreneurs:Despite emphasis and importance given to development of women entrepreneurship, the pace is slow and in terms ofnumber, they are no where near to their share in the population. This is due to the following problems:

Problem of Finance Limited Mobility Lack of Education Male dominated society Low risk-bearing ability Social recognition

On account of the above mentioned reasons, the enterprises of women face several problems in finance,marketing and expansion.

Steps to encourage Women Entrepreneurs:In order to encourage women entrepreneurs, the Government of India and state governments as well as nongovernment organizations(NGOs) promote various schemesThere is a women’s wing of National Alliance of YoungEntrepreneurs (NAYE) which assist women entrepreneursin:(i) Providing access to capital, infrastructure and markets(ii) Development of management and production capabilities(iii) Identifying business opportunities(iv) Sponsoring, delegating, participating in trade fairs, exhibitions, arranging buyer-seller meets and conferences(v) Organizing seminars, workshops and training programs for giving wider exposure to women entrepreneurs to develop their entrepreneurial capabilities(vi) Lobbying for them in Press, Parliament, State assemblies and other fora

(vii) Advocating effectively for securing their rightful place in the Indian economyState governments have formulated special schemes for encouraging women entrepreneurs to take up entrepreneurial activities. Commercial banks have “Women entrepreneur Cells” to extend financial assistanceto women. The IDBI has set up the Mahila Udyam Nidhi (MUN) and Mahila Vikas Nidhi(MVN) schemes to help entrepreneurs. MUN provides 15% equity assistance for anew project, its cost not exceeding Rs.10 lakhs. MUN scheme extends aid to voluntary agencies in decentralizedindustries for training-cum-production centres and alsofor management and skill upgradation.

Other Schemes:• Indira Mahila Yojana• Rashtriya Mahila Kosh• NORAD• ARVIND

• DWCRA• TRYSERMThere are special special entrepreneurship programs for women with a view to encourage them to enter industry.Product and process-oriented courses enabling women to start small scale industries are also recommended.Several central and state level banks and voluntary agenciesare engaged in protecting and developing women entrepreneurs in the rural and urban areas of the country. Other agencies are:

AWAKE (Karnataka) WEMA (Maharashtra) SEWA (Ahmedabad)

Business Opportunities for Women Entrepreneurs:o Agro based industry like food preservation, dairy and poultryo Textile, weaving and handloom activitieso Teaching , nursing, electronic and computer services

o Agarbathi making, papad making, bedspread makingo Embroidery, handicraft exports, batik painting,o Apparel manufacturing, catering services, o Event management, grocery, drug store o Service centres like plumbing, electric repairs,o Stationery stores, photo-copier firms, travel agencieso Florist shop, working women hostel etc.

Future of Women Entrepreneurs: With the help of high technology, women will be able to

work from home and thus balance better between the workplace and home. The opportunities for women will increasemanifold with the changes in technological, cultural and social environment. Women need assistance and support in the marketing their products. An organization could be set up for marketing of the women entrepreneur productsexclusively. A private distribution agency with wide distribution network can take up the marketing of products produced women entrepreneurs.