Women entrepreneurship is gaining importance in India in the wake of economic liberalization and globalization. The policy and institutional framework for developing entrepreneurial skills, providing vocational education and training has widened the horizon for economic empowerment of women. However, women constitute only one third of the economic enterprises. There exist a plethora of successful business women entrepreneurs both in social and economic fields in India. They are performing well. Government of India has also introduced National Skill Development Policy and National Skill Development Mission in 2009 in order to provide skill training, vocational education and entrepreneurship development to the emerging workforce. However, entrepreneurship development and skill training is not the only responsibility of the Government and therefore other stakeholders need to shoulder the responsibility. In Hindu scriptures, woman has been described as the embodiment of shakti. But in real life she is treated as Abla. Women are leaving the workforce in droves in favor of being at home. Not to be a homemaker, but as job-making entrepreneurs. The increasing presence of women in the business field as entrepreneurs has changed the demographic characteristics of business and economic growth of the country. Women-owned businesses enterprises are playing a more active role in society and the economy, inspiring academics to focus on this interesting phenomenon.
The stereotypes that begin with domestic commitments often go up to the venture-capitalist who thinks that women are good for a few domicile sectors. Several stones are yet to be unturned and crossed before women-entrepreneurship in India creates milestones.
The study of the phenomenon provides insight into a few imperative measures to create a support framework for empowering women, and in turn, jump-start the economy.
- Generating Employment
The MSMEs are key to long-term employment generation. It can be expected that women-led enterprises will hire other women, generating income for them as these women-entrepreneurs will be free from any kind of gender bias.
- Enabling Positive Social Consequence
According to the International Monetary Fund, economically independent women ensure better health, better education, and wise reproduction choice for self and family. It is pertinent for all to take responsibility towards creating psychological and social well-being for women to foster entrepreneurship.
- Embracing Technology
A conscious measure needs to be envisaged to remove the digital divide for women, especially, in the semi-urban and rural areas. Efforts to bring in digital literacy will bring forth empowerment.
- Training and Development
Beginning with awareness-creation, capacity-building, motivation, to facilitating from ideation to implementation, diverse skill-based Entrepreneurship Training programmes should be reimagined, and aligned with the new-normal environment.
- Targeted Mentorship Model
Informal, and formal Mentorship Platforms need to be created to reach out to the women for hand-holding. Initiatives have begun, and the same need to widen their framework and reach, leveraging the digital benefit.
- Entrepreneurship Education
Structured education in entrepreneurship will ensure that women entrepreneurs can be chiseled for a successful outcome. Formal education always renders the confidence for taking the calculated giant step into entrepreneurship.
- Acceleration of Finances
Tailored loans, finances earmarked for women, availability of supportive schemes and bail-out packages, the easy application process, transparency, etc. will enhance the ease of doing business.
- Focused Institutionalization
The establishment of women-centric Centres will ensure a focused approach to foster women-entrepreneurs. The podium will facilitate constructive networking and a healthy mindset
We celebrate the women entrepreneurs who are at the wheel of big business corporations, generating huge turnover. Let their determination be infectious for all the other women who would soon work against all barriers and conditioning. The hurdles of a patriarchal society are multifold and unique. Women suffer a dearth of self-belief, conditioned by an ecosystem. Not just by being discriminated, or dominated but also in the name of love, and protection women are constantly and systematically trained to be risk-averse, and inept decision-makers. It is time when an Indian woman needs to embrace the path of self-discovery and identify her abilities to move ahead with confidence, the only asset she should hold onto. A better gender mix in the entrepreneurial ecosystem will witness an innovative, technologically advanced, robust Indian economy.
Archana Jain is a Young Entrepreneur and her story began with being an investor, research analyst, women empowerment / financial planning speaker, fashion model, founder of Mumbai- based Florian Spa-N-Salon , Founder of India Brainy Pageant Show , Founder of Florian Foundation along With that Council Board Member of Wicci , Maharashtra Information and Broadcasting to Finally An Author of She’s Unlimited and Unboxing Beauty.Her Journey As Entrepreneur, Social Activist, Fashion Model and as Author is truly phenomenal.
Dr Archana Jain have done received her Doctorate in Entrepreneurship and Have being Featured on Cover page of Big Magazine like Films Today, Enlighten india , Filmy Naka etc .
She is the One who believes in Age just a Number it’s all in the mind
Know her more on www.florianfoundation.in