Over the last decade, the Indian economy has grown steadily and the number of startups and new businesses in the country have risen. Initially, the vast majority of them were founded by men. However, now a days we are witnessing many Indian women aspiring to be an entrepreneur. At the same time, they often find it more difficult to succeed. In fact, India has been identified as one of the countries where women entrepreneurs are flourishing, especially in the past 5-10 years.
 

The role of women has changed tremendously and they have created a positive impression in the society. From housewives to CEOs, the transition can be seen at an accelerating rate. Modernization and the advent of the latest technology have widened hope and opportunities for them. They have established themselves socially, politically and economically in almost every field. Many women have strong entrepreneurial ambitions. Women entrepreneur may be defined as a woman or group of women who initiate, organize & run a business enterprise.

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Interestingly, many of the women in India stated that they admire female role models such as Indra Noovi, Kiran Majumdar Shaw and many successful women entrepreneurs and business women.

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Women constitute around half of the total world population. So it is in India also. They are, therefore, regarded as the better half of the society. The women of modern times have started plunging in different industries and running their enterprises successfully. Women entrepreneurs account for improved economic growth and stability within a country & they inspire other women to start businesses which eventually leads to more job creation for women which ultimately helps in reducing the gender gap in our society.

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The other important factor happening in our society is socially and economically reducing the gender gap with men and this has led to more employment opportunities for women. Today in India , the next generation of women is more likely to nominate their success.

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Starting a business is a difficult task for everyone, regardless of gender. The lack of understanding of clients, penetration into the market, acquiring skilled workers and the complex regulatory framework are all major obstacles in India. However, there are additional impediments for women entrepreneurs, which are part of a larger problem.

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Stiff Competition: Women entrepreneurs do not have organizational set-up to pump in a lot of money for canvassing and advertisement. Thus, they have to face stiff competition for marketing their products with both the organized sector and their male counterparts. Such a competition ultimately results in the liquidation of women enterprises.

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Limited Mobility: Unlike men, women’s mobility in India is highly limited due to various reasons.

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Mind Set: The cumbersome exercise involved in starting an enterprise coupled with the officials’ humiliating attitude towards women compels them to give up the idea of even starting an enterprise.

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Gender Bias Mixed Response: Though many women face gender biases however  some of the female founders who were in their early phases of their profession, indicated that they had not faced gender prejudice. While they faced a variety of business obstacles, they do not believe it was due to their gender. They considered themselves as hardworking and they believed that the best ideas would win out.

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Low Risk-Bearing Ability: Majorly women in India lead a protected life. They have  less education opportunities and are not self-dependent. All these reduce their ability to bear risks involved in running an enterprise. Risk-bearing is an essential requisite of a successful entrepreneur.

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Confidence in Business Talents: In India, especially in rural areas and small towns, women  naturally  have a lower level of confidence in their own business abilities. In reality, extremely successful women frequently experience self-doubt and underestimate their abilities and performance, whereas males experience the opposite.  Furthermore, it has been discovered that men almost everywhere in the globe believe they are considerably smart.

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Access to Funding: When women approach investors, they favor pitches delivered by men over pitches delivered by women, despite the fact that the material is identical. The fact that Indian women rarely own property that may be used as security for loans adds to the difficulty in obtaining money.

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Network and Relationship: Women in our culture often feel alienated as they are not given equal networking opportunities at the same time their growth is further hampered by their own lack of participation in various business networks.

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Support from Family: The other side of the “business is a man's domain” coin is that social standards demand women to take care of their homes first and then anything else. In fact, many Indian women take on added responsibilities at home and spend considerable amount of time on household work and other unpaid duties.  Hence, due to lack of family support, managing both home and work is exhausting.

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Workplace and Public Space Security: Finally, in India, workplace safety as well as safety during trips between the office and home is a concern. There is a lot that needs to be done for women's safety to ensure cordial environment for work.

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Finally, utilization of women's entrepreneurial potential will result in increased innovation, economic growth, job creation and women empowerment. The current scenario in India contributes to the country's low female entrepreneurship rate which could have been otherwise. Overcoming these barriers requires individual women's courage and desire as well as addressing structural problems in the external environment over which they have limited control. As a result, this PNP Consultants offers five sets of suggestions to assist women in seizing entrepreneurial opportunities and increasing their chances of success.

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1. Finding work life balance between home and office

2. Not being afraid of failure

3. Continuous improvement in their skills thru training and coaching

4. Awareness towards Govt scheme and other institutional infrastructure

5. Overcoming self-doubt