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Challenges Faced by Women Entrepreneur in India

To study the challenges faced by women entrepreneurs and the measures taken by Government to increase women entrepreneurship, the secondary sources were explored. Information was also collected by surfing the net. Women who innovate, imitate or adopt a business activity are called women entrepreneurs. In India women faces lots of challenges related to finance, raw material, stiff competition, legal formalities, family ties etc. Only 13.72 lack enterprises owned by women out of 86.28 lacks. Government of India also did Government and non government bodies have paid increasing attention to women‘s economic contribution through self employment and industrial ventures. Entrepreneurship has been a male-dominated phenomenon from the very early age. Women are considered not only as fairer sex but also as weaker sex and always to depend on men folk in their family and outside, throughout their life. But time has changed the situation and brought women as today's most memorable and inspirational entrepreneurs. It is estimated that women entrepreneurs presently comprise about 10% of the total number of entrepreneurs in India, with the percentage growing every year. If the prevailing trends continue, it is likely that in another five years, women will comprise 20% of the entrepreneurial force (Saidapur et.al, 2012) The entry of women into business in India is traced out as an extension of their kitchen activities, mainly 3P‘s, Pickle, Powder and Pappad. But with the spread of education and passage of time women started shifting from 3P‘s to modern 3E‘s i.e., Energy, Electronics and Engineering. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Women perform 66 percent of the world’s work, produce 50 percent of the food, but earn only 10 percent of the income and own one percent of the property (World Bank Report, 2011). Globally, women represent 49.6 percent of the total population, but only 40.8 percent of the total workforce is in the formal sector. Today, many women have established their own economy i.e., entrepreneurial empire and are now ruling their world as they wished to. The hidden entrepreneurial potentials of women have gradually been changing with the growing sensitivity to the role and economic status in the society. Skill, knowledge and adaptability in business are the main reasons for women to emerge into business ventures. Women Entrepreneur" is a person who accepts challenging role to meet her personal needs and become economically independent. An enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to women.” (Government of India) Women’s entrepreneurship research and the understanding of factors influencing the growth of women-owned business have advanced significantly over the last decade. Yet, challenges remain. Women Entrepreneurs and the Global Environment for Growth provide wide-ranging insights on the challenges those women entrepreneurs face growing their businesses and how these may be addressed. To study the challenges faced by women entrepreneurs and the measures taken by Government to increase women entrepreneurship, the secondary sources viz; past researches, reports, journals and magazines were explored. Information was also collected by surfing the net.