WOMEN ENTREPRENEURS REDEFINING SUCCESS IN THE STARTUP WORLD
Author : HEN INDIA | Published On : 07 May 2024
Indian women entrepreneurs are shaking up the business world. These changemakers are not only building businesses, but also transforming lives and landscapes. They are shattering stereotypes and proving that dreams can be boundless.
What Exactly Is Women Entrepreneurship?
Women entrepreneurship is about you, the incredible woman reading this, taking charge of your destiny. It’s about turning your passion into a thriving business, creating jobs, and empowering others. It’s about challenging stereotypes and proving that success has no gender.
Why Is Women Entrepreneurship So Important In India?
Statistics paint a powerful picture:
- The World Bank reports that India could increase GDP growth by 1.5 percentage points by including 50% of the women in the workforce. However, India’s female labor force participation rate (FLFPR) declined from 32% in 2005 to 19% in 2021.
- India has 63 million micro, small, and medium enterprises (MSMEs), of which around 20% are women-owned, employing 22 to 27 million people.
- Increased female entrepreneurship can narrow the gender pay gap and unlock India’s true economic potential, with estimates suggesting it could create 30 million women-owned enterprises and 150-170 million jobs.
The Journey of a Woman Entrepreneur: From Seed to Shining Success
Being an entrepreneur, regardless of gender, is a rollercoaster ride. You pour your heart and soul into an idea, face countless rejections, and risk everything for a dream.
But for women in India, navigating this path becomes even more challenging due to deeply ingrained societal expectations and biases.
What Are The Challenges Faced By Women Entrepreneurs?
Is That Safe For A Woman?
Imagine having a brilliant business idea, but then whispers start: “Is that safe for a girl?” or “Shouldn’t you focus on family?” It can make any woman entrepreneur doubt herself.
Girls often hear playing it safe is better than taking risks. This pressure to follow traditional roles, like being a housewife, can make them question their dreams of starting something on their own, of being an “entrepreneur.”
They might worry if anyone will take them seriously or even make fun of them for trying.
There’s also the real concern about safety.
According to reports, crimes against women in India increased by 14.6% in 2021! This fear can make it hard for women to work freely or travel for business.
The Confidence Gap
Society loves to label you “dulhan material,” not “dealmaker.”
This underestimates your fire, making you wonder if you’re truly cut out for the boardroom.
But remember, Rani Lakshmi Bai wasn’t just fierce, she was a strategic genius.
The lack of confidence instilled from a young age is another hurdle. Societal expectations often box women into roles of “graceful wife,” not “gifted leader,” hindering their self-belief and future potential.
The “Beauty vs. Brains” Stereotype
Even when you break free, whispers follow. “Will you quit when you get married?” asks a potential partner, assuming motherhood means closing your laptop. Even Investors question your commitment because of “family time”.
The message?
You can’t have both success and family (or so they say).
This can be tough for women who want both. It plants a seed of doubt: “Can I really do it?”
But remember, countless women like you have shattered these stereotypes, proving family and business success can go hand-in-hand.
When Family Holds You Back
Yes, your family loves you dearly, but sometimes their protectiveness can feel like a cage.
So, from the time you’re a young girl and you’re growing up, love equals protection in the family.
Everybody will tell you*,*
“Beta, find a husband,” they might say, “family is everything.” Or, “Honey, are you sure you can handle it alone? It’s a man’s world out there.” Even subtle concerns, like “But what about the kids?”, can plant seeds of doubt.
These comments, laced with love and worry, can feel like a fortress built around your dreams, one brick at a time.
Trouble Getting Money
Getting funding for their businesses can be tough for women. Even though they have great ideas, the numbers don’t lie:
A mere 12% of companies that were funded in India in 2019 had at least one female founder. This shows a clear funding gap between men- and women-led businesses.
Investor bias and a lack of creditworthiness from traditional banking institutions are major roadblocks. This means that investors might not take women entrepreneurs seriously, and banks often see them as a higher risk for lending money.
Feeling Left Out
It can be tough for women to connect with other successful business people, especially men. This makes it hard for them to find mentors, partners, or people willing to invest in their business ideas. Here’s why:
Limited Representation: Women make up only around 14% of business owners in India. This means there are fewer established women entrepreneurs to network with or seek guidance from.
Investor Bias: A 2019 study revealed that only 12% of startups receiving funding in India have at least one female founder. This highlights the difficulty women face in securing financial support for their businesses.
However, the underlying message is often the same: entrepreneurship is not for you, and taking risks is dangerous.
These numbers show how difficult it can be for women to break into the "boys club" of the business world, making their path to success even more challenging.
But here’s the good news: The entrepreneurial journey is filled with both exciting opportunities and unique challenges. You don’t have to navigate it alone.
At HEN, we understand the specific needs and aspirations of women entrepreneurs.
Related Post
Her Entrepreneurial Network (HEN)
Our network of over 2,000 women entrepreneurs fosters an environment of mutual support, shared experiences, and unwavering encouragement. We invite you to explore HEN further. Visit our website and delve into the stories of our inspiring members, discover our upcoming events and workshops, and experience the warmth of our online community. HEN welcomes you at any stage of your entrepreneurial journey. Whether you’re just starting out or looking to take your business to the next level, we’re here to empower you to achieve your goals.