The world is witnessing an evolution with female entrepreneurs leading the front and revolutionizing how we think regarding businesses. As per the study conducted by the Edelgive Foundation, female-governed organisations tend to increase by 90% in India, transcending projections in the UK (24%) and the US (50%). They also determined that 20% of the present-day organisations in India are run by women. This ongoing trend predicts the future we are heading towards and also states that not only women will break the shackles of age-old prohibitions but will also lead the entrepreneurial world.
A New Era
One important reason behind women entering entrepreneurship is their gained access towards resources and networks that help them build their businesses. Additionally, various government programs such as Women for Startups, Women Rise Together, and SuperStree along with schemes like Mahila Coir Yojana, Mahila Samridhi Yojana etc. are helping women develop a strong commitment towards entrepreneurship in India. Such initiatives also help in promoting the sustainable development of women by generating equal employment opportunities in the country.
Shattering the Barriers
Earlier, women were mostly subjected to handle the household chores and look after the family needs. However, in the present scenario, certain barriers still block their progression in the professional world. Some of them are:
● Sexism and Gender Differences
● Pay Gap
● Ageism
● Unequal Access to rising opportunities
● Cultural differences
In the collaborative study called “Creating 10X Women Founders in India” (2023) conducted by Zinnov, Google, NetApp and the Indian Angel network, it was found that despite the high entrepreneurial intent, women do face socio-cultural hindrances at the workplace. While barriers depend upon the organisation, its workforce and culture, every small step helps women build a better future for themselves. Considering such situations, various steps like increased access to capital, awareness programs for addressing gender-bias issues, conducting mentorship and leadership programs etc. are helping women enter the world of trade.
Road Ahead
The greatest advantage of rising women entrepreneurs is that they add diversity, inclusivity and creativity to industries that were previously governed by men. According to the 2023 analysis of Women in India’s Startup Ecosystem Report (WISER), over 8 million businesses are run by women in India which is expected to rise in the coming years. This will lead to economic growth and create employment opportunities in the country. Leading with a fresh perspective and renewed approach, female entrepreneurs of today are breaking stereotypes and revolutionising the ever-competitive business landscape, emerging as catalysts of innovation. Furthermore, their growing representation in the enterprise world will not only contribute towards India’s economic growth but also inspire other women to follow in their footsteps.
Shared by: Ms Venus Barak,
CEO, Franglobal
