WOMEN ENTREPRENEURSHIP IN INDIA - PAST , PRESENT , FUTURE
Women entrepreneurship is need of day to set example of equality as well as women empowerment. So this article basically tells you how women entrepreneurship is evolving in the world with the time.
University Maharaja's College
‘Entrepreneur’ , this word is basically derived from the verb ‘entreprendre’ , a french verb which means - to do something or to undertake. Simply, we can say Entrepreneurs as ‘adventurers’ or ‘undertakers’ .Entrepreneurship belongs to the STEM field which requires an innovative and learning attitude. Women started to play their role in entrepreneurship from the 17th century.
History of Women Entrepreneurship -
Before the 17th century if someone listened to the word 'ENTREPRENEUR' they would think of a man, as the human mind is conditioned in such a way.The word like 'chairman' tells us that our society is habitual of seeing a man in supreme position. But the process of changing this mindset was started in the United States by a 16 year old girl ‘Eliza Lucas Pinckney’ who started ‘Dying’ to make a difference.
This difference was going to make the Entrepreneur word free from boundaries of gender and ages . But it was just a start , there stands a lot of problems in front of women entrepreneurship in a world biased towards men.
In 1766 the world saw its first women publisher from America Mary Katherine Goddard . Thus the cycle of growth of women entrepreneurship gained momentum and added many innovative , courageous and adventurous ladies to the list.
In India the position of women was very high in vedic times but it deteriorated due to regular invasions.In middle times Jijabai was a famous agricultural entrepreneur . In the 18th and 19 th century Indian women started small businesses to supplement the family income .But the point here to note is that women entrepreneurship was limited to the field of handicraft , fashion, weaving etc in 18 th and 19th centuries .
The wheels started getting pace in 1991 with the coming of New industrial policy which encouraged privatization. Stats of 1981 tells us that there were 5.2% women out of the total self employed workforce.
KALPANA SAROJ is the first woman entrepreneur of India who started KS Film Production. She built a successful real estate business. She restructured Kamani tubes after liquidification.
PRESENT AND WOMEN ENTREPRENEURS -
Women entrepreneurship has seen two major changes in times of the present which are authority and field of business. Earlier women used to inherit the business of their fathers or husbands but slowly evolving through many decades changed it and now modern women are going for a startup . They are now self made , having started business from zero and taking it to heights is the new normal.
Secondly, the field of doing business has also changed . Earlier the most of women were limited to business of handicraft , fashion , cosmetics but nowadays women are going for ventures in tech , defense ,education etc
According to an estimation, in the last 20 years the number of women in business has grown by 114% . Africa is one which has more women entrepreneurs than its counterparts.
Famous names in field of women entrepreneurship in India are Indra nooyi (former CEO of pepsi ), Shahnaz Husain (Herbal Beauty Queen) , Naina Lal Kidwai (Group General Manager & Country Head–HSBC,India) , Ekta Kapoor (JMD & Creative Director, Balaji Telefilms) , Kiran Mazumdar-Shaw (Chairman & MD, Biocon Ltd.) Falguni nyar (Nykaa) and the list continues.
- Barriers in present for women entrepreneurs in India -
1.Socio - Cultural Barrier
Conditions have changed from the past , and the name of women entrepreneurship has become familiar to us. But still the gender bias , stereotypes, prejudice continues.Our Indian society expects women to take care of home and child. They take the entrepreneurs as granted just because of their gender. Dependency for legal work on males is the biggest barrier.
2.Economic barriers -
It is observed that women in tech ventures have been taken lightly by our society and the stats reveal more study revealed that only 25% of women entrepreneurs get investors and partial funding is obtained by less than 10 % women entrepreneurs.
SOME INITIATIVES TO BETTER WOMEN ENTREPRENEURSHIP
- Working Women’s Forum
- Indira Mahila Kendra
- Mahila SamitiYojana
- Assistance to RuralWomen in Non-Farm Development (ARWIND)
Government of india is running many schemes for supporting the women entrepreneurship .Loans on low interest rate, and financial assitance is given that has made some improvement in India
FUTURE OF INNOVATIVE BUSINESS WOMEN IN INDIA -
- The multitasking management has been inoculated in women's minds naturally due to the historical factor. The women entrepreneurs have shown their potential in very less time but still the number and part is really low.India has only 3% self employed women and the worst condition is small industry where women are only 10% . The Condition can be improved in future by -
- Promotion of women entrepreneurship
- Government support
- Tax rebates , Less documentation formalities , administrative support
- Policy making
Entrepreneurs in the future will acquire more technology , science ventures . The unlocked potential will help a lot in the development of the world.
When men and women both will come together in entrpreneurship world leaving all the biasness, prejudice and discrimination then world will see new innovation ,techenology and we will be the evidence of the development which held due to bringing only a single principle in life - ‘EQUALITY’.
University Maharaja's College