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Discover Potential
Manoj Kumawat
Business Opportunities for Women - Indian Context
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INTRODUCTIONThe educated Indian women have to go a long way to achieve equal rights and
position because traditions are deep rooted in Indian society where the sociological
set up has been a male dominated one. Despite all the social hurdles, Indian women
stand tall from the rest of the crowd and are applauded for their achievements in their
respective field. The transformation of social fabric of the Indian society, in terms of
increased educational status of women and varied aspirations for better living,
necessitated a change in the life style of Indian women. She has competed with man
and successfully stood up with him in every walk of life and business is no exception
for this. These women leaders are assertive, persuasive and willing to take risks.
They managed to survive and succeed in this cut throat competition with their hard
work, diligence and perseverance.
Women entrepreneurship has been recognized as an important source of economic
growth. Women entrepreneurs create new jobs for themselves and others and also
provide society with different solutions to management, organization and business
problems. However, they still represent a minority of all entrepreneurs. Women
entrepreneurs often face gender-based barriers to starting and growing their
businesses, like discriminatory property, matrimonial and inheritance laws and/or
cultural practices; lack of access to formal finance mechanisms; limited mobility and
access to information and networks, etc.
Womens entrepreneurship can make a particularly strong contribution to the
economic well-being of the family and communities, poverty reduction and womens
empowerment, thus contributing to the Millennium Development Goals (MDGs). Thus,
governments across the world as well as various developmental organizations are
actively undertaking promotion of women entrepreneurs through various schemes,
incentives and promotional measures.
As a fact, Women entrepreneurs in the four southern states and Maharashtra account
for over 50% of all women-led small-scale industrial units in India.
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WOMEN ENTERPRENUERSHIP
Women Entrepreneurs may be defined as the women or a group of women who
initiate, organize and operate a business enterprise. The Government of India has
defined women entrepreneurs as an enterprise owned and controlled by women
having a minimum financial interest of 51 per cent of the capital and giving at least 51
per cent of the employment generated in the enterprise to women.
Women Entrepreneur is a person who accepts challenging role to meet her personal
needs and become economically independent. A strong desire to do something
positive is an inbuilt quality of entrepreneurial women, who is capable of contributing
values in both family and social life.Women entrepreneurs engaged in business due to push and pull factors which
encourage women to have an independent occupation and stands on their on legs. A
sense towards independent decision-making on their life and career is the motivational
factor behind this urge. Saddled with household chores and domestic responsibilities
women want to get independence. Under the influence of these factors the women
entrepreneurs choose a profession as a challenge and as an urge to do something
new. Such a situation is described as pull factors. While in push factors women
engaged in business activities due to family compulsion and the responsibility is thrust
upon them.
The entry of women into business in India is traced out as an extension of their kitchen
activities, mainly 3Ps, Pickle, Powder and Pappad. But with the spread of education
and passage of time women started shifting from 3Ps to modern 3Es i.e., Energy,
Electronics and Engineering. Skill, knowledge and adaptability in business are the
main reasons for women to emerge into business ventures.
With the advent of media, women are aware of their own traits, rights and also the
work situations. The challenges and opportunities provided to the women of digital era
are growing rapidly that the job seekers are turning into job creators. Many women
start a business due to some traumatic event, such as divorce, discrimination due to
pregnancy or the corporate glass ceiling, the health of a family member, or economic
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reasons such as a layoff. But a new talent pool of women entrepreneurs is forming
today, as more women opt to leave corporate world to chart their own destinies. They
are flourishing as designers, interior decorators, exporters, publishers, garment
manufacturers and still exploring new avenues of economic participation.
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REASONS WOMEN BECOME ENTREPRENEURS
New Challenges and Opportunities for Self
Fulfillment
Self Identity and Independence
Family Occupation
Role Model to Others
Education and Qualification
Bright Future of
their Wards
Additiona
l Income
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Its a Natural instinct -
Women are naturals when it comes to multitasking. They can deftly handle home,
business and entrepreneurship. They are a great resource that remains untapped till
date. Women entrepreneurs are more cautious, and will usually ( read take calculated
risks. They are great at communication ( most men will agree to that wholeheartedly!)
and at building relationships, and are great at problem-solving. They dont really need
to go to a B-School to learn management techniques, they are naturals at it!
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OPPORTUNITIES FOR WOMEN
In India, the Micro, Small & Medium Enterprises development organizations,
various State Small Industries Development Corporations, the Nationalized banks and
even NGOs are conducting various programmes including Entrepreneurship
Development Programmes (EDPs) to cater to the needs of potential women
entrepreneurs, who may not have adequate educational background and skills. The
Office of DC (MSME) has also opened a Women Cell to provide coordination and
assistance to women entrepreneurs facing specific problems.
There are also several other schemes of the government at central and statelevel, which provide assistance for setting up training-cum-income generating activities
for needy women to make them economically independent. Small Industries
Development Bank of India (SIDBI) has also been implementing special schemes for
women entrepreneurs.
1. General Fields-Entrepreneurial success brings a sense of deep satisfaction and achievementthat comes after you are past the initial obstacles. Setting up a viable and
profitable business venture with minimal capital is certainly possible and it is best
to start out small.
Considering following points, any woman can initiate-
Search a Business that works for you and your personal life
Research the product/ service
Assess the market
Start business with adequate funds
Do networking
Consult with professionals
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ConsultancyIf you think you know the market around you well and have an enviable network of
contacts with professionals from diverse industries, go ahead and share the
information with those who need it. Setting up a consultancy firm does not require
much investment. You can turn your garage or a spare room into your office and start
away.
Boutique
This is usually the first thing that comes in any womans mind while thinking about
small business ideas. And why should it not be? Even though there is no dearth of
boutiques in an average city, the customer base of such stores is also increasing
every day. Your boutique can house anything from clothes and accessories to home
decoration items.
Fitness Center (Gym)
This might take up a little more investment to set up but the returns are great. Gym
equipment is somewhat expensive but it is a one-time investment. With everybody
being fitness-conscious these days, you should not have to worry about your business
being non-profitable. If you are a yoga expert or a trained aerobics trainer, you need
not bother with any equipment.
Restaurant
Most women are talented in the kitchen and passionate about cooking. So why not
apply you skills into your business venture? Start your own caf or restaurant and do
what you love the most- feeding people! You can also start a catering or take-away
service too, using your culinary skills.
Daycare/Crche
You can turn your love for children into a small scale business by opening a daycare
center at your place. Women these days are finding it increasingly difficult to balance
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their work and home life. They would definitely appreciate a venture where they can
leave their kids without worrying about their care and safety. Spending the day with
chirpy kids can be fun and lucrative at the same time.
Internet Business
Just like everything else, the Internet has changed the way we can think about earning
money too. There are lots of ways to start earning online. You can put almost any of
your skills to use and start freelancing on the Web. Niche blogs, interactive websites
and e-stores generate a lot of revenue if marketed well.
Beauty Parlor
This is one of those small business ideas that you just cannot go wrong with. With a
little investment on training, quality products and basic equipment, you can turn your
spare room to a cozy beauty salon.
Gift Shop
You do not necessarily need prior experience to set up a gift shop business. Most of
us know what to expect in a gift shop, and you can order things from a trusted dealer,
accordingly. You can run up a search on the Internet about the latest gift items and
build up your stock. There should be people lining up outside your store in no time!
Interior Decoration Store
Most Indian women are expert in this niche. Stock up your shop with the things you
would ideally decorate your house with, and capitalize on local arts and crafts.
Pet ShopEvery second family has a pet animal these days and pet lovers are more than willing
to splurge on accessories and fancy knick-knacks for their furred friends. Why not start
a shop to cater to the needs of indulgent pet owners? Load up your store with doggie
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treats and other pet foods, accessories, clothes, houses (cages, kennels, etc.) and
soon you will find yourself in great demand.
Freelancer Journalism
According to Bloomberg Businessweek, 45 percent of single Indian women say they
would like to pursue a career in journalism. Television reporters, particularly female
anchors, are perceived as living a glamorous life while providing a valued service to
the community. Indian women hoping to get their foot in the door could start a local
magazine or try their hand at being a freelance reporter.
Culinary Arts
Another great way for Indian women to start a business without leaving home is
opening their own food service or catering company. Whether you're looking for
something to supplement your duties as a housewife or you're ready to pursue a full-
time career, making specialty dishes and traditional Indian meals for hotels, private
parties and even restaurants can be a lucrative way to spend your spare time.
IT Services
NASSCOM reports that almost 38 percent of India's IT professionals are women, and
the country's educational system has prepared many young women for this career
path. By steering girls towards "softer skills" such as computer science, electronics
and communication, the Indian educational system gives women a head start in
succeeding as IT professionals. Indian women with the right educational background
could start a lucrative mobile IT service business and work from home, keeping
overhead low and a schedule of their own choosing.Fashion Photography is
increasingly seeing a number of women photographers succeed, and so is travelphotography.
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RecyclingIf you are so concerned about the global environment, e-waste issues, you can be the
first to fight against it. And if you can make profit out of it, it will be more of you dreamt
off. With a good local advertising campaign and a pickup truck, you can start collecting
the scrap metal, old computers, electronics, ink cartridges and other recyclable
materials and take them to recycle plants.In this venture your friends can help you too
and you will find yourself making money, along with doing serving our earth.
Multi-Cultural Marketing Expert
Many of the business firms are trying hard to invent new ways to connect with their
customers. But connecting with a heterogeneous audience, especially with multi-
cultural minorities is a difficult part in the job. The business ventures fail at reaching
their minority customers because they don't take the time to know them closely.In
order to reach these targeted customers, they must recognize the places where the
consumer resides and design a specific message not just for one ethnicity, but for
cultures among those segments. With the minority populations growing like ever
before, business ventures are trying to wipe out the gap between them and their
minority customers. If you are expert at dealing with people of different cultures and
ethnicity, and if you are good at marketing, you can be a marketing expert for different
businesses creating messages (containing corporate image and product advertising)
that could reach to all sorts of audience around the world.
Public Relation
For every business house, big or small, they need good public relations works. There
are lots of PR firms, but as businesses are becoming more specialized these days,
their public relations needs are also becoming sophisticated. Socially responsible, fairtrade, organic, local, B Corps and other kinds of businesses with a socially responsible
bent need public relations that will market their story to a whole different audience and
deliver a different kind of message. If you are skilled at public relations and if you are
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ready to make specifications for your service, why dont you think of starting a PR
business for your own?
Employee-Monitoring Services
With the advancement in technology, the employees all around the world are
becoming highly mobile. Most of the full-time employees opt for work at home as well
as over-time work. Thus, businesses find it difficult to monitor their employees in such
situations. They are mostly unable to track of what their workers are doing. Employers
often do not have extra staff to monitor their employees. A company that could offer
employee-monitoring services can be, thus, profited. If you can come up with more
innovative ideas of monitoring the employees, more than keeping register and
punching, you can think of building a business house of your own.
Some More Areas
School for recruiters: Help to Hire
Cake decorating business
Selling Insurance Salvage
Job Aptitude Testing Services
Heritage Tourism
Card making
Produce selling Like to grow vegetables
Senior citizen assistance
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2. Govt. Schemes- Central Govt., State Govt., Tax Benefits in Set-Up-The First Five-Year Plan (1951-56) envisaged a number of welfare measures for
women. Establishment of the Central Social Welfare Board, organization of Mahila
Mandals and the Community Development Programmes were a few steps in this
direction.
In the second Five-Year Plan (1956-61), the empowerment of women was
closely linked with the overall approach of intensive agricultural development
programmes.
The Third and Fourth Five-Year Plans (1961-66 and 1969-74) supported femaleeducation as a major welfare measure.
The Fifth Five-Year Plan (1974-79) emphasized training of women, who were in
need of income and protection. This plan coincided with International Womens
Decade and the submission of Report of the Committee on the Status of Women in
India. In1976, Womens welfare and Development Bureau was set up under the
Ministry of Social Welfare.
The Sixth Five-Year Plan (1980-85) saw a definite shift from welfare to
development. It recognized womens lack of access to resources as a critical factor
impending their growth.
The Seventh Five-Year Plan (1985-90) emphasized the need for gender equality
and empowerment. For the first time, emphasis was placed upon qualitative aspects
such as inculcation of confidence, generation of awareness with regards to rights and
training in skills for better employment.
The Eight Five-Year Plan (1992-97) focused on empowering women, especially
at the Gross Roots Level, through Panchayati Raj Institutions.
The Ninth Five-Year Plan (1997-2002) adopted a strategy of Womens
Component Plan, under which not less than 30 percent of funds/ benefits were
earmarked for women related sectors.
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The Tenth Five-Year Plan (2002-07) aims at empowering women throughtranslating the recently adopted National Policy for Empowerment of Women (2001)
into action and ensuring Survival, Protection and Development of women and children
through rights based approach.
At present, the Government of India has over 27 schemes for women operated
by different departments and ministries. Some of these are:
Integrated Rural Development Programme (IRDP)
Khadi And Village Industries Commission (KVIC)
Training of Rural Youth for Self-Employment (TRYSEM)
Prime Ministers Rojgar Yojana (PMRY)
Entrepreneurial Development programme (EDPs)
Management Development progammes
Womens Development Corporations (WDCs)
Marketing of Non-Farm Products of Rural Women (MAHIMA)
Assistance to Rural Women in Non-Farm Development (ARWIND) schemes
Trade Related Entrepreneurship Assistance and Development (TREAD)
Working Womens Forum
Indira Mahila Yojana
Indira Mahila Kendra
Mahila Samiti Yojana
Mahila Vikas Nidhi
Micro Credit Scheme
Rashtriya Mahila Kosh
SIDBIs Mahila Udyam Nidhi
Mahila Vikas Nidhi
Micro & Small Enterprises Cluster Development Programmes (MSE-CDP).National Banks for Agriculture and Rural Developments Schemes
Rajiv Gandhi Mahila Vikas Pariyojana (RGMVP)
Priyadarshini Project-A programme for Rural Women Empowerment and
Livelihood in
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Mid Gangetic Plains
Support to Training and Employment Programme for Women (STEP)
Swayam Siddha
Scheme for construction and running of Girls Hostel for students of secondary andhigher secondary schools-
Sponsored By: Central
Funding Pattern: Central government will bear 90% of the recurring and non-recurring
project cost. 10% will be borne by the State Governments.
Owner: Ministry of Human Resource DevelopmentDepartment of School Education &
Literacy
Description: This is a new Centrally Sponsored Scheme launched in 2008-09 and is
being implemented from 2009-10 to set up a 100-bedded Girls Hostel in each of 3479
Educationally Backward Blocks (EBBs) in the country. The Scheme has replaced the
earlier NGO driven Scheme for construction and running of Girls Hostels for Students
of Secondary and Higher Secondary Schools, under which assistance was provided to
voluntary organisations for running Girls Hostels.
The main objective of the Scheme is to retain the girl child in secondary school so that
girl students are not denied the opportunity to continue their study due to distance to
school, parents financial affordability and other connected societal factors. Another
objective of the Scheme is to make Secondary and Senior Secondary education
accessible to a larger number of girl students.
Beneficiaries: women and children
Benefit Type: Other
Eligibility Criteria:The girl students in the age group of 14-18 yrs. studying in classes IX and XII
belonging to SC, ST, OBC, Minority communities and BPL families will form the target
group of the Scheme. Students passing out of KGBV will be given preference in
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admission in hostels. At least 50% of girls admitted will be from SC, ST, OBC and
Minority communities.
How to Avail:
States or UT Governments can submit their proposals to Project Approval Board
headed by the Secretary, School Education & Literacy, MHRD.
Introduced On: Wednesday, April 1, 2009
Valid Upto: Friday, March 31, 2017
Reference URL:http://mhrd.gov.in/girls_hostel
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3.Bank SchemesSTATE BANK OF INDIA- FULFILLING DREAMSShe has dreams. She has aspirations and ambitions. She is enterprising. A go-
getter, set to create a world of her own. What she needs is the right support to fulfil her
dreams. State Bank of India, the largest bank under the Reserve Bank of India, has
recognised her need. The Bank, apart from pioneering many socio-economic
upliftment projects, champions the cause of women. To encourage and develop
entrepreneurship among women, it has launched a Women Entrepreneurship
Programme. State Bank of India recognises the need for womens participation in
economic and business activities. The Bank has devised several schemes for illiterate
women as well as for professional women.
Stree Shakti Package: The Bank has a special scheme called the Stree Shakti
Package for encouraging entrepreneurship among women. Under the scheme,
finance is available at a concessionary rate of interest and reduced margins. Margins
are reduced by 5 per cent and interest is reduced by 0.5 per cent in respect of loans
above Rs. 2 lakhs.
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PNB MAHILA UDYAM NIDHI SCHEMETo meet gap in equity. The women entrepreneurs will be assisted for setting up of new
projects in tiny /small scale sector and rehabilitation of viable sick SSI units. Existing
tiny and small scale industrial units and service industries undertaking expansion ,
modernization technology up gradation & diversification can also be considered.
PNB MAHILA Samridhi YojnaUnder This Scheme , four schemes have been launched under the umbrella of one
scheme. These are for purchase of required infrastructure for Setting up of
1) Tailoring shop/Boutique, i.e. for purchase of Sewing Machines, etc.
2) ISD/STD Booths, i.e. for Security Deposits with MTNL/other Agencies like
Reliance/Tata Indicom.etc., for purchase of Fax Machine, Xeroxing/Photocopier
Machine, etc.
3) Beauty Parlour, i.e. for purchase of Furniture, Chairs, Bench etc.
4) Cyber Cafe, i.e. for purchase of Computers and furniture like computer tables,
chairs etc. and for recurring expenditure as per the need of the activity.
Scheme For Financing CrechesTo provide support services for women empowerment to working women in terms of
creches with necessary services by making cheaper and easier credit available for
financing Creches. The women will be assisted for purchase of required infrastructure
for setting up Creches like basic equipment, utensils, stationers, growth monitoring
equipments, fridge, cooler/fan, water filter, etc. and for recurring expenditure for one
month.
PNB Kalyani Card SchemeFor meeting working capital credit requirement of allied agricultural activities/ miscfarm/non- farm activities either singly or in combination with other activities.The
literate/illiterate women dwelling in rural / semi-urban areas who have attained the age
of majority shall be eligible under the Scheme. Such Women shall include individuals,
farmers, landless labourers, agricultural labourers, tenant farmers, share croppers,
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lessee farmers, etc. The women desirous of undertaking non-farm sector activities
should have aptitude/experience and capability for undertaking the activity chosen for
self employment.
PNB Mahila Sashaktikaran AbhiyanUnder this scheme, following concessions will be admissible
Interest rate to be relaxed by 0.25% in Non-Priority Sector Advances and 0.50% in
Priority Sector advances
Margin to be reduced to 10%, wherever the margin requirement is more than 10%
Waiver of 50% upfront fee (wherever applicable)
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4.Tax and Other BenefitsTrade Related Entrepreneurship Assistance And Development (TREAD) Scheme
The scheme envisages extension of credit by the bank and grant by the Govt of India
to NGOs for the benefit / on lending to women either through SHGs or individually for
setting up of small & micro enterprises in non farm sector.
Women in India have climbed up the earnings ladder drastically in the past decade.
However every year when it is Budget time, we all hope that there are benefits for us
tax-wise. The Budget doesnt really offer too many exclusive benefits to women, but in
general there are some areas where everyone can save on tax. Heres a look at
whats beneficial from a tax perspective, so women can make their choices wisely.
Income Tax Exemptions Women India. For resident women up to the age of 65 years,
there is no income tax on net income up to Rs.1,90,000. This is slightly higher than the
bar for men, which is Rs.1,80,000.
With effect from April 1st 2011, salaried women have a 10% tax deduction if their
employer has invested more than Rs.1,00,000 in the Central Governments Pension
Scheme. There are many different investment options which help in saving tax, and
one should always read and research these thoroughly before investing.
Earlier men solely made financial decisions and did all the investing. Now women are
not to be left behind, and a lot of them do extensive research on investment options
before deciding on whats best for them.
The most well known Section 80C of the Income Tax Act, offers many tax benefits to
investors. One can invest in instruments such as Public Provident Fund (PPF),
National Savings Certificate (NSC), Tax Saving Fixed Deposits (FD) and so on, up to
a limit of Rs.1,00,000.
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Beyond this, one can also purchase Infrastructure Bonds up to Rs. 20,000. There are
some market linked products such as Equity Linked Saving Scheme (ELSS) and Unit
Linked Insurance Plan (ULIP) which can also be considered.
The risk that you can take with your money varies inversely as your age. If you are in
your early working years, you can allocate a higher proportion to ELSS investments as
opposed to the fixed income investments such as PPF and NSC.
If you are living in a rented accommodation, then be sure to claim HRA (House Rent
Allowance) tax benefits. There are 3 factors which are considered for HRAthe
actual rent allowance given by employer, 50% of basic pay in metros (40% in non
metros) and actual rent paid minus 10% of basic pay.
The least of these 3 factors is what you claim as HRA for tax exemption. There are
tax exemptions offered on home loans under Section 80C, and on interest under
Section 24. These should also be availed of wherever applicable. Investing together
offers some benefits for a couple, such as eligibility for loans.
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5.NGO's and Self Help Groups-Federation of Indian Women Entrepreneurs (FIWE)
Consortium of Women Entrepreneurs(CWEI)
Association of Lady Entrepreneurs of Andhra Pradesh
Association of Women Entrepreneurs of Karnataka (AWAKE)
Self-Employed Women's Association (SEWA)
Women Entrepreneurs Promotion Association (WEPA)
Women Entrepreneurs Promotion Association (WEPA)
Bihar Mahila Udyog SanghBihar Mahila Udyog Sangh
Mahakaushal Association of Woman Entrepreneurs (MAWE)SAARC Chamber Women Entrepreneurship Council
Women Entrepreneurs Association of Tamil Nadu (WEAT)
TiE Stree Shakti (TSS)
Women Empowerment Corporation
Confederation of Women Entrepreneurs (COWE)
COWE has a whole host of services and partnerships, and we strongly recommend
you browse through their website carefully (Link below). However, here are some
ideas from us on how you could tap into COWE's network.
Information: The website is a treasure trove of information for women looking to start a
business. The 'Category' tab on the left-hand side begins with 'Articles on
Entrepreneurship' which is a must-read for anybody looking to start a business.
Particularly women who bemoan the lack of information. The articles are further
divided into several categories from Starting a Business, Managing a Business etc. It
addresses important issues like Registering your company, Insuring your business
etc.
Training Programs: COWE definitely places a lot of emphasis on training. There are
Entrepreneurship Development Programmes (EDPs) general and area specific that
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cover industries like Medical Transcription, Food etc. (EDP) There are also training
seminars. (Training Seminars)
Networking: You could use COWE's seminars, exhibitions and study tours to network
too. (Seminars, Exhibitions, & Study Tours)
Scheme Information: One of the most exciting parts in the website to us was the
training and information offering on 'Schemes'. It's the last header in the 'Category' tab
and offers information on a whole range of government and private schemes for
women entrepreneurs, from the Rajiv Gandhi Udyami Mitra Yojana to Goldman Sachs
initiative for 10000 women.
Main site URL:www.co-we.com
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MANAGING OBSTACLES
The problems and constraints experienced by women entrepreneurs have
resulted in restricting the expansion of women entrepreneurship. The major barriers
encountered by women entrepreneurs are:
The greatest deterrent to women entrepreneurs is that they are women. A kind of
patriarchal- male dominant social order is the building block to them in their way
towards business success. Male members think it a big risk financing the ventures run
by women
Women entrepreneurs have to face a stiff competition with the men entrepreneurs
who easily involve in the promotion and development area and carry out easymarketing of their products with both the organized sector and their male counterparts.
Such a competition ultimately results in the liquidation of women entrepreneurs.
Lack of self-confidence, will-power, strong mental outlook and optimistic attitude
amongst women creates a fear from committing mistakes while doing their piece of
work. The family members and the society are reluctant to stand beside their
entrepreneurial growth.
Women in India lead a protected life. They are even less educated, economically
not stable nor self-dependent which reduce their ability to bear risks and uncertainties
involved in a business unit,
The old and outdated social outlook to stop women from entering in the field of
entrepreneurship is one of the reasons for their failure. They are under a social
pressure which restrains them to prosper and achieve success in the field of
entrepreneurship
Unlike men, women mobility in India is highly limited due to many reasons. A
single women asking for room is still looked with suspicion. Cumbersome exercise
involved in starting with an enterprise coupled with officials humiliating attitude
towards women compels them to give up their spirit of surviving in enterprise
altogether.
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Women's family obligations also bar them from becoming successful
entrepreneurs in both developed and developing nations. The financial institutions
discourage women entrepreneurs on the belief that they can at any time leave their
business and become housewives again.
Womens family and personal obligations are sometimes a great barrier for
succeeding in business career. Only few women are able to manage both home and
business efficiently, devoting enough time to perform all their responsibilities in
priority.
The educational level and family background of husbands also influences women
participation in the field of enterprise.
Absence of proper support, cooperation and back-up for women by their own
family members and the outside world people force them to drop the idea of excelling
in the enterprise field. They are always making many pessimistic feelings to be
aroused in their minds and making them feel that family and not business is a place
meant for them.
Many women take the training by attending the Entrepreneurial Development
programme without an entrepreneurial bent of mind. Women who are imparted
training by various institutes must be verified on account of aptitude through the tests,
interviews, etc.
High production cost of some business operations adversely affects the
development of women entrepreneurs. The installations of new machineries during
expansion of the productive capacity and like similar factors discourage the women
entrepreneurs from venturing into new areas.
Women controlled business are often small and it is not always easy for women to
access the information they need regarding technology, training, innovative schemes,
concessions, alternative markets, etc. Just a small percentage of womenentrepreneurs avail the assistance of technology and they too remain confined to word
processing software in the computer. They hardly make use of advanced software
available like statistical software SAP, Accounting Package like TALLY, Animation
software 3D MAX, internet, etc
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Lack of awareness about the financial assistance in the form of incentives, loans,
schemes etc. by the institutions in the financial sector. So the sincere efforts taken
towards women entrepreneurs may not reach the entrepreneurs in rural and backward
areas.
Achievement motivation of the women folk found less compared to male members.
The low level of education and confidence leads to low level achievement and
advancement motivation among women folk to engage in business operations and
running a business concern. Apart from the above discussed problems there may
occur other series of serious problems faced by women entrepreneurs as improper
infrastructural facilities, high cost of production, attitude of people of society towards
the women modern business outlook, low needs of enterprise. Women also tend to
start business about ten years later than men, on average. Motherhood, lack of
management experience, and traditional socialization has all been cited as reasons for
delayed entry into entrepreneurial careers.
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SUCCESS STORIESFrom being treated as a quiet, supportive half of society, women who want to
start a business in India now find the country to provide one of the most fertile
environments based on indicators such as business confidence, motivation, financing
options and other sources of support. The finding is part ofDell Women's Global
Entrepreneurship Study conducted across 450 women entrepreneurs from US, UK
and India commissioned by Dell.
It reveals that 71 per cent ofwoman entrepreneurs in India have a branding in
market for their businesses and eight in every 10 woman entrepreneurs are hiring
which indicates an expansion spree in their individual businesses as well as increase
in employment opportunities too.
Some of the heart- warming stories are as-
Rita Singh, MESCO Steel Group who has been awarded the "Best Woman
Entrepreneur of the decade" by FICCI.
Ishita Swarup, who owns a shopping portal 99 labels.
Story of Patricia Narayan, Winner of Ficci Woman Entrepreneur of the Year
Award
Story of Sarala Bastian who set up a successful mushroom business with just Rs
15000
Story of Kiran Majumdar Shaw, the Biocon Queen
Story of Saloni Malhotra, founder of DesiCrew.
Story of Revathi Krishna, the founder of Coffee, Books and More.
Story of Lata Manohars boutique Vishuddi.
Story of Radha Rajakrishnan, a successful entrepreneur in apparel business.
http://economictimes.indiatimes.com/topic/Dell%20Women%27s%20Global%20Entrepreneurship%20Studyhttp://economictimes.indiatimes.com/topic/Dell%20Women%27s%20Global%20Entrepreneurship%20Studyhttp://economictimes.indiatimes.com/topic/woman%20entrepreneurshttp://economictimes.indiatimes.com/topic/FICCIhttp://economictimes.indiatimes.com/topic/FICCIhttp://economictimes.indiatimes.com/topic/woman%20entrepreneurshttp://economictimes.indiatimes.com/topic/Dell%20Women%27s%20Global%20Entrepreneurship%20Studyhttp://economictimes.indiatimes.com/topic/Dell%20Women%27s%20Global%20Entrepreneurship%20Studyhttp://economictimes.indiatimes.com/topic/Dell%20Women%27s%20Global%20Entrepreneurship%20Study -
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Chetna Sinha- India's first rural bank for women
From spearheading India's first rural bank for women, to running a business school, a
women's chamber of commerce, farmer-turned-entrepreneur Chetna Sinha has come
a long way. In this interview, she credits her success to the many women in her village
who've inspired her.
About 17 years ago, when Chetna Sinha and her husband -- both farmers by
profession -- first approached the Reserve Bank of India with the idea of founding a
bank to serve the rural women of our country, it was ridiculed upon. 'How can you run
a bank with illiterate women who can't even read and write?' asked an officer. Today,
the 53-year-old entrepreneur has been successful in not only starting but also
successfully operating three different rural enterprises that are committed to the cause
of rural women in the country, which includes India's first co-operative bank for rural
women -- the Manndeshi Mahila Bank In 1997, when Sinha started the bank in
Mhaswad, a small village in the Satara district of Maharashtra with a semi-literate
workforce of women from the same village, she wanted to provide loans to help
farmers recover from their economic condition. But 15 years later, she has managed
to do more than just that. Today, despite facing over 8 to 10 hours of load shedding in
a day, the bank has managed to successfully introduce both computerised and door-
to-door banking to offer its services to over 1,80,000 women across nine districts in
rural Maharashtra and Karnataka, which includes Satara, Solapur, Sangli, Raigarh,
Ratnagiri, Pune, Kolhapur, Hubli and Dharwad. Of these, over 1,55,000 women are
savings account holders; most of them earn less than Rs 50 a day. In 2006, Sinha
who holds a Masters degree in Commerce and Economics from the University of
Mumbai started the Mann Deshi Business School (MDBS). Since then it has managedto train over 46,000 women in vocational and entrepreneurial skills, of which over
24,000 have gone on to pursue entrepreneurship after receiving professional training.
Further, to look after the needs of several underprivileged women entrepreneurs, in
2012, Sinha partnered with New York-based Clinton Global Initiative (CGI) to set up
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the Manndeshi Chamber of Commerce for Rural Women (MCCRW), a first of its kind
Chamber of Commerce for rural women in India. The MCCRW aims to both mentor
and address the grievances of women entrepreneurs in rural India. In 2002, she was
appointed as a World Fellow to Yale University and in 2003, she was recognised as
the Bridge Builder by the Harvard University, USA.
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BIBLIOGRAPHYMagazines and Articles-
ZENITH - International Journal of Multidisciplinary Research Vol.1 Issue 5,
September 2011, ISSN 2231 5780
PTI Jun 19- Fertile environment for women entrepreneurs in India: Study
IANS - Increasing opportunities for women-led businesses in India
Econonmic Times, Herald Magazine.
Personal Finance For Women In India: Plan Your Path To Financial Freedom
Forever authored by Ankush Thakur & Priya Florence Shah, and published by the
Naaree Academy for Indian Women Achievers.Business Finance: Loans For Women Entrepreneurs In India
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