Entrepreneurs have defined our world & as we move further it seems they would dominate the economic & the social landscape even more. Start Ups & entrepreneurs have become synonymous. Given the importance to the country a whole ecosystem has been put in place. Eric Ries defines as, “A Startup is a human institution designated to create a new product or service under circumstances of extreme uncertainty.” Suffice to say the success rate is nothing one boast of. To make a difference the women entrepreneurs has to grow considerably.
In the US, 40% entrepreneurs are women, in India only 14% of the business establishments are run by them. India ranks 52 on the Master Card Index of Women Entrepreneurs, a list of 57 nations released by Master Card. Additionally, India ranks 55th in knowledge assets & financial access to woman entrepreneurs.
Challenges are the destiny of an entrepreneur. Research on woman entrepreneurs has one specific challenge; constraint of family responsibilities or commitments at 38%. Other key barriers are finance 29%, worry over personal financial security 30%, and also a large percentage having no idea where to get started.
World Bank survey 2016 on this topic says the women entrepreneurs should learn critical skills of; customer centricity, financial literacy, leadership competencies and negotiation skills. Woman are highly emotional. Training emotions can become advantageous. Working on emotional intelligence can do wonders. This can make them better leaders compared to men who tend to be transactional. Long term relationships so important to creating enduring business entities can become their forte.
Undeniably, the challenges have be faced squarely and the share of women entrepreneurs has to grow overall & in particular in technology sectors.
MORE WOMEN ENTREPRENEURS CAN TRANSFORM INDIA’s GROWTH STORY.