Women Entrepreneurship
Welcome Readers in the Blog Post of ‘Women Entrepreneurship’ exploring importance, challenges, governmental initiative & schemes for skill development.
As we know women entrepreneurs are self employed persons who launch their businesses. Women entrepreneurs are now a vital component of the modern corporate environment of every country. Today, they not only manage to balance the responsibilities of motherhood at home and entrepreneurship equally, but they also own nearly half of all types of businesses in every country.
Importance of Women Entrepreneurship
Entrepreneurship is the foundation of any nation’s economy. Now it is essential to start the process of economic development in both developed and developing nations. There is no doubt that India is witnessing a revolution in the field of women entrepreneurs in the era of globalization, digitalization, and when start-ups are in booms. In the case of India, the Preamble, Fundamental Rights, Fundamental Duties, and Directive Principles of the Indian Constitution promotes the idea of gender equality. In addition to granting women equality, the Constitution gives the State the authority to enact laws that promote discrimination against men in favor of women.
You will surprise to know that the number of female entrepreneurs and the success rate of their ventures have increased dramatically over the past ten years. Today’s female entrepreneurs come from all regions of the nation; they are not limited to coming from wealthy or well-established business families. Ten years ago, women made up a small minority in the entrepreneurial ecosystem; today, they make up 37% of all entrepreneurs worldwide.
In every field, women are currently surpassing their male counterparts. The nation’s business and economy have grown significantly as a result of the rising number of women who are entrepreneurs. Women-owned businesses are contributing significantly to society by creating jobs and serving as an example for the next generation of entrepreneurs.
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Challenges Faced by Women Entrepreneurship in India
The main obstacles that Indian women entrepreneurs are always face, include a lack of funding, a lack of education, a lack of willingness to take risks, family responsibilities, a lackluster networking scene, and concerns about security and safety. The government seems to take the following initiatives to overcome these problems.
Governmental Initiative for Women Entrepreneurship in India
The country is empowered when women are empowered, as they are the foundation of society. Through various initiatives, the Ministry of Micro, Small, and Medium Enterprises (MSME) of India empowers women entrepreneurs by fostering their potential.
The Indian government has launched a number of programs to support female entrepreneurs throughout the nation. The National Institute for Entrepreneurship and Small Business Development (NIESBUD) has been promoting the advancement, development, and empowerment of women entrepreneurs throughout the nation. As a matter of fact, with 63 million micro, small, and medium-sized businesses (MSMEs) and 22–27 million employees, women own about 20% of these businesses. That’s how Women Entrepreneur in India seems to the lack of jobs as a major driving force behind starting a business.
Organizations working for Women Entrepreneurship in India
Women Entrepreneurship Platform (WEP)
Women Entrepreneurship Platform (WEP) develops by NITI Aayog work to develop Women Entrepreneurship in India. WEP tries to become single umbrella for business need of women entrepreneurs. Women Entrepreneurship Platform (WEP) creating a robust ecosystem of support for women entrepreneurs for entrepreneurship.
Other organizations for Women Entrepreneurship
National Association of Women Business Owners (NAWBO)
The National Commission for Women
Mahila Arthik Vikas Mahamandal (MAVIM)
Functions of the most of the Organizations working for Women Entrepreneurship are as follows:-
Women’s Organizations via Self-Help Groups
Programs to boost women’s general capabilities
Development of women’s confidence
Coordinate for market connections
Encourage women to take the initiative for prosperity, equality of opportunity, and involvement in governmental projects
Building grassroots institutions over SHGs as a way forward to sustainable development
Encouragement for female entrepreneurs to attend trade shows by offering them higher subsidies under the Procurement & Marketing Support Scheme
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Schemes for Women Entrepreneurship
Now a day’s number of schemes and programs are in India to promote self-employment among women. Numerous state and local government agencies, as well as non-governmental groups, work to encourage women to start their own businesses. Incentives and resources are produce for entering the world of entrepreneurship by them. At the same time they have been greatly contributed by government programs and the many women’s entrepreneurship associations, such as Federation of Indian Women Entrepreneurs.
Yeshasvini Scheme for Women Entrepreneurs
Annapurna Scheme
Bharatiya Mahila Bank Business Loan
Mudra Yojana Scheme
Orient Mahila Vikas Yojana Scheme
Dena Shakti Scheme
Pradhan Matri Rozgar Yojana
Udyogini Scheme
Cent Kalyani Scheme
Mahila Udyam Nidhi Scheme
Stree Shakti Yojna
Synd Mahila Shakti Scheme- The Syndicate Bank initiated this program
The Tejaswini Maharashtra Rural Women Empowerment Program
TREAD (Trade-Related Entrepreneurship Assistance and Development) Scheme
Women Entrepreneurship Skill development
Skill Education is essential for women’s empowerment. By skill education women can respond to opportunities to challenge their traditional roles and change their livelihoods by developing their skills of entrepreneurship. Knowledge and skills are the driving forces behind any nation’s community development and economic prosperity. The vocational training program need to give for develop women confidence and skills.
Business networking is key factor to develop Women Entrepreneurship
It looks now days women entrepreneurs are organize themselves into confederacies or groups for networking purposes. The drive is to create strong female-led business networks, where participants can pool resources and expertise together, is the driving force behind this trend.
Conclusion
In conclusion, holding workshops or training sessions can help women entrepreneurs become more proficient in the areas of business like finance, marketing strategies, and management techniques. Assist with project report preparation by selecting the appropriate loan of the product based on credit requirements, market research, and external credit rating. Assistance to female entrepreneurs with their marketing by setting up an exhibition and sale of their own goods is necessary. Providing trainings and credit links, and identifying locally relevant, profitable income-generating projects with create a Women’s Special Credit Policy to encourage women to start their own businesses and work for them is necessary point. These are the most important steps that need to be taken to develop Women Entrepreneurship. Keep Reading! Thank You!
