5 Reasons Why it is the Best Time for Women Entrepreneurs in India

  • By Tanvi Kaushik
  • November 17, 2022
  • 280 views

The rising of women entrepreneurs is one of the most positive transformations India is witnessing currently. Out of 58.5 million entrepreneurs in India, 8.05 million are women. That means 14% of entrepreneurs in India are women. It’s not a bad figure considering the challenges women face in Indian society.

 

Challenges for Indian Women Who Want to Set up an Entrepreneurial Project

Whether it’s your neighbouring beauty parlour, home bakery, or a tiffin centre, Indian women have always been active and eager to contribute to household expenses. Some women might not even know the meaning of the word entrepreneur, but they are best at what they do.

 

The difference between the latest times and past decades is that modern Indian women don’t only wish to contribute financially to their household. They have aspirations other than getting married and having kids at the right time. They are dreamers and creators of their own destiny.

 

But is the patriarchy vanished from Indian society? Nope! Following challenges hold back Indian women when they want to step out of their homes and make a mark for themselves:-

  • Family members who want the women of their family to do a safe job only
  • The red tape
  • Child-raising and household responsibilities
  • Being perceived as less capable and weak by other professionals because of being a women.

Stepping Stones for the Rise of Women Entrepreneurs

Despite the challenges, facilities such as women-friendly government policies and the availability of loans for women have contributed to the steady rise of women entrepreneurs. The top 5 factors responsible for the ease of business for women are as follows:-

 

1. Access to Education & Special Skills

With various schemes and scholarships introduced by the government and private organisations for girls, it is easy for girls to learn technical streams like STEM (Science, Technology, Engineering, and Mathematics). Doors of a lot of corporate and IT sector opportunities got open for girls with these kinds of special skills.

 

2. Easy Personal Loans for Women

Personal loans are often helpful for arranging capital to start a new business or filling the gap in operational expenses of a running business. Traditional lenders used to demand collateral and guarantor for providing a loan. With the increase in FinTech platforms acquiring a personal loan for women has become easier than ever. There’s no need to worry about arranging collaterals and guarantors.

 

3. Business Network & Association

In India, robust networking is vital to get market insights and updates. Earlier, women felt lost in the men’s world of start-ups where “bro culture” was prevalent. More women are entering the start-up sector, so people recognise that it’s no longer a man's world. Thus women can now grow quickly and become part of important groups and clubs.

 

4. Support from the Family

Women are well-versed in handling domestic responsibilities. And kids are generally more dependent on their mothers than their fathers. Fortunately, parents, in-laws, husbands, and kids today support and help the women in their families pursue their dreams. This was not the case a few decades ago. Women were supposed to look after their homes on their own.

 

5. Safety in Public Places

The poor state of safety in public spaces kept women confined to the four walls of their houses for a long time. But things have changed. People respect women more, and there are special helplines to report any crime or sexual harassment. So, women entrepreneurs feel more confident and safe being out for any meeting or site visits.

 

The country can’t progress without almost half of its population contributing to its economic growth. Thankfully, now in India, equal opportunities and facilities are available to both men and women entrepreneurs to begin business ventures. It is the best time to be to innovate and experiment.

 

Author Tanvi Kaushik specializes in Content Marketing. She is committed to making money matters easy to understand even for the layman. Her commitment to her work doesn’t stop her from pursuing her hobbies of hiking, trekking and going on adventurous trips.

 

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