When a woman sets out to be an entrepreneur there are unique sets of challenges she faces which are very different from her men counterparts.
The term ‘entrepreneur’ was traditionally reserved for men. Though, with the turn of the century, the rank of women in India has radically improved due to growing industrialisation, globalisation, and social legislation. With the spread of education and awareness, women have now shifted from their household chores to higher levels of professional activities. Provision of Government policies has further enhanced their entrepreneurial activities. Today, they are increasingly putting their steps at par with men in the business arena.
Existing in a promising country like India where there is no shortage of women entrepreneurs, there are still a few challenges that young women face who desire to become entrepreneurs. A few are discussed below.
Biggest Challenge in India is to get over the perception that women will start a business related to Food, education, creative arts, designing, etc type of a business. Hence when a woman comes up with technology or manufacturing related idea it becomes very difficult for them to convince the investors that she is capable of implementing it successfully.
In India, women are often wedged between traditions and their ideas. Even today, the responsibility of family on women has not swayed. This inclination is more prominent among the married women in tier II and III cities, who have manifold responsibilities at home; and this restricts them from entering into the business playing field.
Banks or other investors generally hesitate while lending loans because they do not consider women as strong applicants with long-term plans. Moreover, since women in our country usually do not own assets directly in their name, recovery of funds can be daunting for banks, in case the business doesn’t generate enough profits. Hence generating funds or loans for business is still a major hurdle.
Prospects and challenges are a part of doing any business. At the moment, the happiness is in seeing the approach by which women are progressively more taking the road less-travelled consciously and certainly making a triumphant impression. The challenges faced by women while initiating on their entrepreneurial journey makes them stronger, wiser and better decision makers than most men. The eventual mission or quest is to never give up and rise above the challenges endured. As many more women enter business the existing challenges will also be gone with transformation of society into era of strong women entrepreneurship.
