Status of Women Entrepreneurs in India Assignment free sample

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Status of Women Entrepreneurs in India Miss Pooja, Lecturer Mr. Surinder Bhatia, Lecturer SSIMT, Dinanagar SSIMT, Dinanagar ____________________________________________________________ ______________________ Executive Summary One primary objective of this paper is to find out the status of women entrepreneurs in India. In Hindu scriptures, woman has been described as the embodiment of shakti. But in real life she is treated as Abla.. This paper includes rationale behind the women entrepreneurship.

Another main objective of this paper was to analyse policies of Indian government for women and also to analyse that are those policies enough for the growth of women entrepreneurship. Main reasons for women to become an entrepreneur, the institutions that are helping the women to put their thoughts into action are also included in this study. This study includes the success stories of most successful women entrepreneurs of India. Another objective of this paper was to deeply analyse the profile of women entrepreneurs and problems faced by them while pursuing their business.

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On the basis of this analysis some recommendations are given to promote spirit of women entrepreneurship and helping the women to become a successful entrepreneur. Key Words • Rationale behind Women Entrepreneurship • Nature of business Indian Women are into • Why do women enter into Entrepreneurship • Government’s Policy for Women • Financial Support and assistance to women • Achievements of women entrepreneurs in the field of Science and Technology • Profile of Women Entrepreneurs • Problems faced by women Entrepreneurs • So where do we stand……..? ……….. There is Much more to do ! Methodology Objective of the study:- The objective of this study was to analyse status of women entrepreneurs in India. Research instruments:- Due to shortage of time as well as women entrepreneurs in this region, secondary data was used to analyse the status of women entrepreneurs in India. Status of Women Entrepreneurs in India: – Women Possess a Futuristic outlook and the capacity to nurture new enterprises. What is needed is Proper training, helpful attitudes and facilities and assistance.

Women constitute almost half of the total population in the world. But their representation in gainful employment is comparatively low. According to an ILO report, in 1980, ” women are 50% of the world’s population, they contribute two third of the world’s working hours, but still they receive 10% of the world’s income and own less than 10% of world property”. Women have confined their activities to selected professions such as education, nursing, medicine and office work. Very few women enter professions like industry, engineering, trade etc.

For centuries, women have been victim of social prejudices and discrimination. Even today, parents prefer male child. Women are generally presumed to be weak, passive, dependent and people oriented. No doubt all of these are assumptions, but assumptions become reality when society prepares males and females for performance in presumed roles. As a result, men and women enter into organizations with different skill sets. Women are taught to depend upon others, to limit their ambitions and to avoid exposure and risk.

Such orientations and prescriptions inhibit development of self-confidence, innovativeness, achievement motivation and risk taking ability, which are essential for entrepreneurial career. But today, if we think of economic development of our country in real manner, we cannot even afford to underestimate the role of women in industry. As stated earlier that women constitute 50% of the population, so if we want our country to be developed, women have to come forward and match their shoulders with men. Rationale Behind Women Entrepreneurship………………?

Is entry of women into entrepreneurship is justified is the question of utmost importance…We know, women in traditional societies are still confined to the four walls of home, children, household affairs and family rituals. Very few get the opportunity to come out of the four walls and enter into economic activities. But if given a chance to enter into the industry, will women be able to prove themselves successful in the large-scale units? In order to avoid risk, women can be given a platform of small-scale industry.

SSI is the best entry point with which women can start their entrepreneurial career and prove themselves. In business, the entry of women is a relatively new phenomenon. on account of the break up of the joint family system and the need for additional income to maintain living standards in the face of inflation, women began to enter the competitive world of business. In the recent years women have made their mark in different walks of life and are competing successfully with men.

The traditional perception of women as a helper in the occupation of husband and homemaker is gradually vanishing in the recent past. Women have started proving themselves in many fields including entrepreneurship and their participation in entrepreneurial activities has increased by leap and bound. Quite a large number of women entrepreneurs have set up their enterprises and have been in business successfully. Nature of Business Indian Women are Into…….. Women entrepreneurship in developing countries like India is still in the stage of Introduction.

But in United States, women entrepreneurs have emerged as the fastest growing group of entrepreneurs. According to U. S Internal Revenue Service the number of female-owned enterprises increased from 702,000 in 1977 to 2. 8 million. These women own textile mills, trucking firms, highway and construction firms, beauty parlours, drycleaning shops, photographic studios and dozens of other businesses. In India, women entrepreneurs constitute a negligible proportion of the total entrepreneurs. ” the typical enterprises are the extension of kitchen activities i. e. he 3 P’s: Pickle, Powder, Papped or traditional cottage industries of basket making etc. in India women have contributed mainly in household industries due to less technical know how required and little competition from men in these industries. In recent survey of business women in Delhi and surrounding areas it was estimated that 40% of these entrepreneurs have ventured into non-traditional areas such as electronics, engineering, consultancy etc. The state of Kerla where the literacy among women is highest in India provides a good example of women entrepreneurship.

As on march 1984, there were 782 women’s industrial units in Kerla, of these 592 were Proprietary concerns, 43 partnership concerns, 42 charitable institutions, 3 joint stock companies and 102 cooperative societies. According to a research study conducted in Tamil Nadu following are the businesses pursued by women entrepreneurs:- Nature of Business |Sr. No |Nature of Business |Percentage | |1 |Agro engineering Products |0. 0 | |2 |Automobile Workshop |1. 60 | |3 |Bakery |1. 60 | |4 |Computer Training Institute |1. 60 | |5 |Cutting edging Products |0. 80 | |6 |Data Processing and software development |2. 40 | |7 |Electronic items |0. 0 | |8 |Fancy stores |0. 80 | |9 |Floor and oil mills |2. 40 | |10 |Gem cutting and polishing |0. 80 | |11 |Handicrafts and toys |0. 80 | |12 |Hard boards |0. 80 | |13 |Leather chapels |2. 0 | |14 |Lime stones |1. 60 | |15 |Match box |0. 80 | |16 |Mono block jet pumps |0. 80 | |17 |Photography |1. 60 | |18 |Physical laboratory |1. 60 | |19 |Pickles, Dry fish and papad |4. 0 | |20 |Plastic containers |0. 80 | |21 |Polythene bags |0. 80 | |22 |Printing press |3. 20 | |23 |Readymade garments |12. 90 | |24 |Soap powder, cleaning powder |0. 80 | |25 |Steel Furniture |0. 0 | |26 |Tailoring |42. 70 | |27 |Textile Materials |2. 40 | |28 |Textile mill spares |0. 80 | |29 |Typewriting Institutes |0. 80 | |30 |Wax candles |4. 00 | |31 |Wet grinding |0. 0 | | |Total |100% | Why Do Women Enter Into Entrepreneurship The main reasons for women to get into the entrepreneurship are as follows :- • Desire to be independent. • Ego for achievement. • Desire to get economic power. • Success of white revolution has influenced women to get into entrepreneurship, because it frees women from resultant breakup of long household labour. • Financial institutes cater the financial needs of women entrepreneurs. Improved level of women education and aspirations. • As a challenge to satisfy some of their personality needs. • Utilizing the knowledge gained. Singh and Sengupta(1985) conducted a study on 45 women who were attending the EDP held at Delhi in Nov-Dec 1983 organised by NIESBUD and few other agencies to find out motivational factors that lead women to become entrepreneurs. According to the study 49% of women entrepreneurs were in age range of 21-30 ys, 40% in 31-40 ys, while remaining 11% were in the range of 41-50 ys. Educational profile of those woman was: 24. 4% post graduates, 44. % Graduates, 24. 4% Matriculates, 6. 7% Professional qualification. 75. 5% were married and 24. 5% were unmarried. 53. 3% were from salaried class and 46. 6% were from business class. Reasons for them to become entrepreneurs were: To earn money( Rank 1), To keep busy(Rank 2), Fulfillment of Ambition( Rank 3), To be Independent( Rank 4), Giving Employment opportunities to others( Rank 5). It was found that 57. 7% of women started the enterprise on their own idea, 42. 3% had been advised to set up an enterprise by family members or husband. Government Policy for Women

Policies concerning Indian women formulated by Government are in accordance with the provisions of the constitution of India. The constitution guarantees certain fundamental rights besides freedom of speech, protection of life, liberty and prohibition of discrimination etc. Indian women enjoy these rights in the same manner as the men do. Article 14 of the constitution provides ‘equality before law’; Article 15 ‘prohibits any discrimination’. There is only one specific provision in Article 15(3), which empowers the state government to make ‘any special provision for women and children’.

This provision enables the state to make any special provision for women particularly in the field of labour legislation like Factories Act, Mines Act and so forth. Regional Workshops Conducted by Government on Gender Budgeting Definition- an exercise to translate stated gender commitments of the Government into budgetary commitments, entailing affirmative action for empowering women and examination of the utilization of resources allocated for women and impact of public expenditure and policies of the Government on women.

Gender Commitments- Constitutional provisions affecting women, importance of Article 15(3) which enables affirmative discrimination in favour of women. Other gender commitments include women related legislation, National Policy for Empowerment of Women 2001, Ninth and Tenth Plan commitments on resource allocation etc. The various policy level commitments point towards holistic empowerment of women covering all aspects- social, economic and political. The challenge lies in translating these into outcomes for women’s empowerment through Gender Budgeting.

Government of India initiatives- Gender Budget Cells are being opened in various Departments of Government of India to act as a focal point for all Gender Budget initiatives in the Departments. Capacity building workshops for these Gender Budget Cells have also been held by the Department of Women and Child Development. The importance of Gender Budgeting can also be seen from the fact that the Prime Minister in his address to the NDC on 27 June 2005 has made a special mention on the subject.

Gender Mainstreaming: Emphasizing the importance of gender mainstreaming, the following action areas were suggested for enhancing coverage and participation of women in mainstream sectors ? Breaking barriers to access for women availing services of public utilities like road transport, power, water and sanitation, telecommunication etc. ? Training of women as highly skilled workers- top end skills ? Research/Technology for women ? Enhanced participation of Women in the work force ? Asset ownership by women ? Women as Entrepreneurs ? Implementation of Laws like –Equal remuneration Minimum Wages –Factories Act ? Provision of Infrastructure for women like –Water and sanitation at workplace –Creches –Working Women Hostels –Transport services –Security while allocating resources for women, there has to be a holistic concept which ensures adequate resource allocation for all areas including health and nutrition, sustained employment, access to credit and asset ownership, skills, research and design technology and political participation. Further, regional imbalances have to be corrected. For this it is necessary to focus on specific needs of women residing in villages and towns.

Action areas identified ? Spatial Mapping of resources available for women in the villages and towns and benchmarking public expenditure necessary to ensure adequate availability and access to essential services like health, education, water sanitation, fuel and employment. ? Translate gender based spatial requirements in to resource allocations and create synergy in Resource allocation across levels of governance to ensure universal coverage ? Re-prioritize resource allocations to address- regional imbalances, infrastructure gaps ?

Redesign programs from gender perspective- build in women’s participation- break gender barriers in access to public expenditure ? Planning for access to Sustained Employment in all habitations and Social Security ? Capacity Building for Women in budgeting, political processes, leadership, collective power ? Training in high end skills and entrepreneurship for more productivity and remuneration ? Collection of gender dis-aggregated data to enable more insight in to actual benefits flowing to women ? Gender perspective on revenue raising policies/subsidies ?

Gender perspective in monetary and fiscal policies ? Better monitoring of programs- MIS based on spatial progress ? Better implementation of laws related to women Financial Support and Institutional Assistance to Women There are many agencies rendering assistance to women entrepreneurs: – 1. National Level Standing Committee on Women Entrepreneurs: – The committee was constituted under the chairmanship of the minister of state for women and child welfare to look into the problems of women entrepreneurs and evolve policies for promotion of entrepreneurship among women in the country. . Small Industries Development Organisation( SIDO): – The office of the development commissioner (SSI), attached to the Ministry of Industry, is an apex body and is the nodal agency for formulating, coordinating and monitoring the policies and programs for promotion and development of SSI in the country. It provides a wide range of facilities and services including consultancy in techno-economic managerial aspects, training, common facility services, common processing and testing facilities, marketing assistance etc. 3.

District Industries Centre: – The DIC program was started during 1978 as a centrally sponsored scheme to assist tiny, cottage and village sector industries in the country and to generate larger employment opportunities in rural and backward areas. DIC undertake economic investigation to find out the potential for development in the districts including its raw material, and other resources, supply of machinery and equipment, provision of raw materials, effective arrangement of credit facilities, marketing assistance, quality control, entrepreneurial training. . Entrepreneurship Development Institute of India( EDII): – The EDII is the only one of its kind in Asia and was set up in May 1983, at Ahmedabad by the industrial Development bank of India, ICICI, IFCI and SBI. The institute conducts result oriented entrepreneur development programs. 5. National Alliance of Young Entrepreneurs( NAYE): – NAYE is a national organization of young entrepreneurs of the country. Apart from looking into the interests of young entrepreneurs, the organization takes special care of the interests of women entrepreneurs. . National Institute of Entrepreneurship and Small Business Development:- NIESBUD was established in 1983 as an apex body to coordinate the activities of various agencies engaged in entrepreneurship development and to organize training programs for entrepreneurs, Model syllabi for training various target groups of entrepreneurs, undertake documentation and research, conduct seminars, workshops and conferences and to act as a nodal agency in the field of entrepreneurship and small business development in the country. . National Institute of Small Industries Extension Training (NISIET): – The Government of India established an institute known as the small industry extension-training institute (SIET) in 1960 under the ministry of industry for promotion and industrial development of small industries. This institute is conducting training programs in the areas of development, promotion and management of small, rural and industries including entrepreneurship development, preparation of feasibility reports etc. 8.

Small Industries Development Bank of India(SIDBI): – SIDBI provides training and extension services support to women entrepreneurs according to their skills and socio-economic status, extends financial assistance on confessional terms to enable them to set up industrial units in small scale sector. The programs for training, consultancy support and extension services for women entrepreneurship are organized through designated agencies such as Technical Consultancy organizations, Entrepreneurship development in India.

But make no mistake, for behind this simple straight forward face is a razor sharp brain, and an ability to execute, to convert thought into an action without much errors. Women have been successful in breaking their confinement with in the limits of their homes by entering into varied kinds of professions and services. Women entrepreneurs have proved to be on par with their men counterparts in business acumen and are emerging as smart and dynamic entrepreneurs like Kiran Mazumdar Shaw, Sulajja Firodia, Shahnaz Husain, Simone Tata, Priya paul, Ritu Nanda, Ekta Kapoor and Sharan Apparao.

Although we are a traditional country where women are respected as ” MatriShakti” over the years women have overcome the traditional mind sets and have excelled in professions like teaching, medicine and pure sciences. Women have made important contributions in all walks of life and made inroads into new fields like engineering and information technology. Of the women science graduated 88 % of the science degree holders are in pure science , 8% in medicine and 3% in engineering and technology.

However, there has been a recent spurt of women joining the engineering and information technology fields. The field of biotechnology has revolutionized the industrial growth of the world. In India, our own Kiran Mazumdar is an example for women entrepreneurs to follow and emulate. Kiran Mazumdar Shaw, biotech entrepreneur and CEO of Biocon India group, is one of the many scientists India should be proud of. She started Biocon in 1978 collaborating with an Irish firm, started two joint ventures, Biochemizyme and Biocon-Quest India Ltd.

She has held positions in industry councils, including Vice-President, Association of Women Entrepreneurs of Karnataka. She was awarded Rotary Award for Best Model Employer, National Award for Best Small Industry and most noteworthy is the Padmashri in 1989 from the Government of India. She was accorded a very prestigious assignment as a Chairperson of the Vision Group on Biotechnology to draw up the State’s Biotech Policy. In 1978, the world’s first test tube baby, Louise Joy Brown was conceived. In India, Dr Indira Hinduja produced first scientifically documented test tube baby.

In 1986, India’s first test tube baby Harsha was born. Female ovum is fertilized with male sperm in a test tube, with suitable environmental conditions, and observed under microscope for more than three days. The fertilized egg is then put back into mother’s womb and hence called test tube baby. Producing test tube babies is not an easy task even in advanced countries, Dr Indira Hinduja has rejected opportunities to settle abroad so that she can serve our country/India. Indian women have excelled in almost all fields, which hitherto were fortified by men.

Women are storming Information and Technology field and in the late nineties the number of women in computing and internet industries has registered a sharp rise. The IT landscape is full of women who are busy writing programs, running network systems and delivering applications to clients on time. Recently a Japanese magazine concluded that Indian women are number one amongst women from various countries in acquiring and applying IT knowledge. Deb Aggarwal, a top scientist at a national laboratory and Radha Ramaswami Basu, a high-tech entrepreneur, are the two Indian women among the top 25 women on Web award inners for this year. Aggarwal, a computer scientist at the Lawrence Berkeley National Laboratory, serves the comprehensive Nuclear Test Ban Treaty Organisation as an expert in the area of reliable multicast communication. Basu is CEO, www. support. com. She was general manager for international software at Hewlett Packard. She is also the co-founder of Maitri, an empowering organization for South Asian Women in the Bay Area. Kalpana Chawla from Haryana was qualified from over 2962 applicants to earn herself a place in space shuttle Columbia for a 16 day out of the world experience.

The NASA chief called her a “Terrific Astronaut”. Women have also accepted the challenges of the oceans and have participated in expeditions dealing with ocean research. Dr Aditi Pant is the first Indian woman to participate in the cruise to the icy continent, Antarctica. The expedition was for a period of 4 months and the participants had to explore this continent under rough weather conditions. Shahnaz Husain is the mother of all herbal cosmetics in world. Her creams and lotions have found their way into salons in different parts of the globe.

She has 650 salons at 104 countries. It is all due to her sheer innovation, determination and hard work. Madhuri Mathur, an intelligent lady made the life of ladies in kitchen easier by bringing out the idea of, a kitchen machine that would blend, chop, mince and grind that culminated into sumeet mixer. Although there is no disparity existing in the emoluments of male and female scientists and technologists an imbalance does exist in the decision making policies and in the exercise of authority which is solely dominated by men.

Women do not get scientific recognition and are rarely recommended and nominated for awards, expertships. But the pattern occupying positions of authority has changed progressively during the past years and the trend appears to be encouraging. Many women with high qualifications and experience have reached the top. From these observations, it can be concluded that given the requisite qualifications and opportunities the women in science and technology in India can be achievers and thereby boost the growth of science and technology of our country. The Lijjat Papad story

I’m sure you are aware of the story of seven illiterate and poor women who borrowed Rs 80 to start a papad business, and took its turnover from Rs 6,196 in the first year to Rs 300 crore in the next four decades involving over 40,000 women on its revolutionary march. The story which reads almost like a fairy-tale chronicles the growth of an exclusive women’s organisation run and managed by them producing a quality product and thereby empowering them. Jaywantiben Popat, one of the women involved with this phenomenal spirit, was honoured last year at the ET Awards for her outstanding achievements.

The Lijjat Papad story is an inspirational one, which will hopefully encourage other women to embark on the path on entrepreneurial activity. SEWA (Self-Employed Women’s Association) Another example that comes to mind is SEWA. Started as a trade union, registered in 1972, founded by Ela Bhat, it is an organisation of self-employed women workers who earn a living through their own labour or small businesses. SEWA sought a two-pronged strategy of full-employment and self-reliance. SEWA’s membership, which is a nominal Rs. a year, includes women from a cross-section of society — from vegetable and fruit hawkers to home-based weavers, potters and manual labourers. It is SEWA’s belief that once women achieve employment and economic independence, they will improve the quality of not only their lives but also that of their families. |Year |Number of Members | |1973 |320 | |2002 |6,89,551 | Profile of Women Entrepreneurs

South being the region of India, showing 100% literacy rate, and the region where the women is being appraised and uplifted. So here I am taking the secondary data from the study conducted by S. Ganesan in this region, to show the profile of women entrepreneurs. The data is divided into following categories: – Age Group Below 25 21% 26-35% 36. 30% 45. 33. 90% 46 and above 8. 90% This data shows that rate of women entrepreneurs is high in the age range of 26-30 years and low in the age range of 46 and above.

This depicts that need of achievement and level of enthusiasm is high in the age of 26-35%. Marital Status Married 87. 10% Unmarried 12. 90% This data shows that rate of women entrepreneurship is highest in married ladies, because married women have to share the responsibilities of their families. This sense of responsibility energises them to become an entrepreneur. Education No formal education 14. 50% School level 69. 40% Graduates 12. 10% Post Graduate 0. 80%

Technical/professional 3. 20% The data given above depicts that rate of women entrepreneurship in SSI is highest in matriculate ladies, for whom it is very hard to find out job opportunities in industry. Capability in English Yes 66. 1% No 33. 9% The data depicts that though women who are running their Small scale industries are not highly qualified but still most of them are able to understand English language Family structure Joint family 28. 20% Nuclear family 71. 80%

The data given above shows that most of the women entrepreneurs belong to nuclear family. The reason behind this is due to breaking of joint family system income of the families has been declined and in order to maintain the standard of living women enter into entrepreneurship. Occupation of Men Behind Agriculture 17. 2% Business 29. 8% Govt. Employment 14. 9% Private sector 38. 1% The data depicts that the rate of women entrepreneurship is high in those women whose husband are working in the private sector.

Status of Children None 17. 59% 2. 60. 19% 3-4 20. 37% 5 and above 1. 85% Assistance for household work Employs servant maid 8. 90% Gets assistance from family members 19. 40% Manage individually 71. 80% The data given above shows that most of the women entrepreneurs have to handle their household affairs individually as they belong to nuclear families. Business Place Home 66. 10%

Others 33. 90% The data given above interprets that most of the women prefer their home as their business place because with this they can easily manage their household affairs side by side. Form of Organisation Sole Proprietorship 94. 40% Partnership 3. 20% Private limited company 2. 40% Time Spent on Business 1 to 3 hours 28. 20% 4 to 6 hours 28. 20% 7 to 10 hours 35. 50% 11 to 14 hours 7. 0% 15 to 18 hours 0. 80% The data given above shows that majority of women entrepreneurs are able to spent 7 to 10 hours for their business because they have to take care of their children as well as homes also. Initial Investment Below 25000 66. 90% 25001 to 50000 12. 90% 50001 to 100000 11. 30% 100001 to 500000 7. 30% 500001 and above 1. 60% First year Business Results Profitable 32. 30%

Break Even 39. 50% Unprofitable 28. 20% Success Rate : – According to a study conducted by Shah out of sample of 60 women entrepreneurs 15 had a high success rate and a continuous rise in need for achievement even after the establishment of the unit. Which resulted in the expansion and diversification, 23 had an average success rate and continuous motivation to sustain and maintain their enterprise successfully and 22 had a low success rate. Problems Faced By Women Entrepreneurs According to the study conducted by S.

Ganesan in Tamil Nadu, following are the problems faced by Women Entrepreneurs. |Problems in being an |Strongly agree(%) |Agree(%) |Undecided%) |Disagree(%) |Strongly |Weighted | |entrepreneur | | | | |Disagree(%) |Average | |Time Management |30. 65 |51. 61 |8. 06 |9. 68 |0 |33. 3 | |Life style changes |16. 3 |62. 10 |7. 26 |14. 52 |0 |31. 4 | |Worry that I am making the |20. 16 |48. 39 |12. 90 |16. 13 |2. 42 |30. 4 | |right decisions | | | | | | | |Not having enough time for |16. 13 |52. 42 |12. 10 |16. 13 |3. 23 |29. | |family | | | | | | | |Stress in making decisions |9. 68 |54. 03 |13. 71 |19. 35 |3. 23 |28. 7 | |Lack of free time |5. 65 |38. 71 |12. 10 |34. 68 |8. 87 |24. 6 | |Unmet expectations |4. 84 |34. 68 |12. 0 |40. 32 |7. 26 |23. 9 | |Feeling of isolation |4. 03 |28. 23 |12. 10 |50. 00 |5. 65 |22. 7 | |Conflicting roles |7. 26 |13. 71 |27. 42 |36. 29 |15. 32 |21. 6 | The ranked list of personal problems faced by the entrepreneurs exhibited that time management has been the greatest personal problem faced by the women entrepreneurs.

This is quite understandable as the women entrepreneurs have to manage the family also in addition to the management of enterprise. So where do we stand…………? It’s a mixed bag as usual. We have had some big success stories, but still a long way to go to make entrepreneurship a way of life. I believe it is imperative to learn from the stories of individuals like Shehnaz Husain , founder of Shehnaz Cosmetics, Ekta kapoor etc. These individuals lend credence to the fact that it is not just the idea which is required to be successful. They thrived in an environment that was conducive to and nurturing of the entrepreneurial spirit.

If India is to truly look forward and follow the same path, she must ensure conditions that encourage entrepreneurs. The success of women entrepreneurs differs from state to state. In Kerla, Maharashtra and Tamil Nadu women entrepreneurs have been most successful. Entrepreneurial movement among women started late and is still in its infancy. The movement requires pre and post follow up support to utilize women power in the country’s economic development. No doubt Government is taking lot many Steps to promote spirit of entrepreneurship in the women but those steps are not enough for entrepreneurial development.

Women should be given a proper environment in which she can feel comfortable while putting her thoughts into action. Most of all she should get the support from family and her society as well. ……………. There is much more to do ! Create an environment that sets up entrepreneurs to succeed not fail India has only a few angel investors who support an idea in the early stages before VCs become involved. While associations such as The IndUs Entrepreneurs (TiE) are seeking to bridge the gap, the importance of having access to capital is extremely important in creating an atmosphere that supports entrepreneurs.

Naturally, a major stumbling block for many potential entrepreneurs at the lowest end of the economic spectrum is, again, lack of access to the credit or seed funding necessary to start a business. There is a need to develop micro-credit programs along the lines of the hugely successful Grameen Bank in Bangaladesh. Developing entrepreneurial skills “A survey by McKinsey & Company conducted last year revealed that most Indian start-up businesses face two skill gaps: entrepreneurial (how to manage business risks, build a team, identify and get funding) and functional (product development know-how, marketing skills, etc. ” An important step in moving ahead would be to build resources and develop courses, which accept entrepreneurship as an important and integral part of business studies. One of the schools in India which is doing a great deal in this regard is the Indian School of Business, Hyderabad, which has instituted a Wadhwani Centre for Entrepreneurial Development. The vision is clear and especially relevant to India — “to create 1,000 new businesses over the next ten years, creating 100,000 new jobs for professionals and to improve the lives of a million people. ” Knowledge sharing “There is much to be learnt from other success stories. Yesterday’s maverick entrepreneurs who are today established names are often happy to become mentors to the new kids on the block, having learnt the hard way themselves. Organisations like the TiE are ample testimony of this fact. “India would benefit from creating a strong network of entrepreneurs and managers that entrepreneurs could draw on for advice and support. ” Legal and regulatory framework Governments need to have a positive perception of entrepreneurial activity, reduce the administrative burden on entrepreneurs, and coordinate among their agencies to ensure that the necessary resources are directed where they are needed.

I have discussed at length the economic benefits of encouraging entrepreneurship. One must realise, however, that entrepreneurship has impacts that go beyond simple economics. Creating jobs, empowering people and giving individuals the access to better lives for themselves and their children is a wonderful gift. Happier, fulfilled individuals implies a happier fulfilled society. Entrepreneurs, then have the power to achieve great things. We must provide the impetus. Entrepreneurs will emerge as the well-oiled wheels that will keep the economy and the societal bogey going.

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