Policy Approaches to Promote Women Entrepreneurship in India

Introduction

Today, there is a need to know about Women Entrepreneurs. It is a fact that we have very little knowledge or information about women entrepreneurs. One main reason can be that women entrepreneurs are involved in so called petty business - like running shops from home or involved in small cottage industries that too not in main cities or town. Women entrepreneurs are a category that has been understudied. We know very little about women entrepreneurs, and our lack of understanding of this important demographic is a major concern in any effort to increase the total number of entrepreneurs in our economy. They have entrusted themselves to petty business and small cottage industries by and wide. Business established or owned by women is about the place of Women in Society as well as acceptance in entrepreneurs’ group. As per latest reports out of total recorded entrepreneur’s 10% share goes to women and it is increasing at a steady pace. This signifies the role of females to transform and lead the business. Women's entrepreneurship is concerned with both the status of women in society and the role of entrepreneurs. Women increasingly strengthen, lead, and transform the face of how business is done today. It is reported that about 10% of the total entrepreneurs in India are currently female entrepreneurs. It is also clear that this percentage is increasing year after year. However, since traditions are deeply entrenched in Indian culture, Indian women will have to put in a lot of effort to achieve parity in terms of rights and roles. Although present day women have much more support from family as well as society but still financial liberty and dependence on family plays a major part to come forward to start a business. Women's entrepreneurship growth in India is hampered by a lack of financial independence for rural women, a lack of direct property ownership, a lack of risk - taking capacity, and a lack of communication with established women entrepreneurs. Many women have been influential in their work, despite all the social barriers. Through their diligent work, determination, integrity, and dedication, these ambitious women are making a reputation for themselves and gained wealth (Dhameja et al., 2000).

The growing status of women as entrepreneurs has resulted in a shift in the country's market demographics and economic development. Women - owned businesses resulted in societal empowering and job creation in the country. To promote successful growth in the country, women entrepreneurs must develop sustainably, and Start - up India is entrusted to ushering the environment for women entrepreneurship. Because of the push and pull factors, female entrepreneurs participate in the business, allowing women to have an autonomous profession and stand on their feet. In this complex environment, women entrepreneurs have become a component of the global expedition for long - term monetary and social growth change. The wave of women - owned businesses is gaining momentum in almost all places of world because of rapid urbanisation, industrialization, and the expansion of reach to quality education and personal rights. Women’s entrepreneurship is a rising industry worldwide. It is on the agenda of several National and international development organisations. Agencies and multilateral organizations and are a priority of several civil society organizations and foundations. Women, however, remain significantly under - represented as entrepreneurs, even in countries where women are not represented. Participation in the labour market has risen gradually. In addition, some gaps in information remain on the obstacles that impede the role of women in promoting sustainability (Coughlin & Thomas, 2002).

Many other recent policy initiatives to assist women entrepreneurs are emerging. Several countries are looking into the possibility of using procurement processes to help women gain access to new markets. They are attempting to increase funding for progressive female entrepreneurs. With dedicated support incubator and acceleration initiatives, the need to offer better opportunities for innovative women entrepreneurs is required. Lower levels of entrepreneurial expertise, intimidating social and cultural attitudes, challenges in receiving start - up funding, less successful entrepreneurial channels, and policy environments that discourage women from participating in entrepreneurship are among the obstacles that women encounter when starting a business. Traditional methods including training and funding do not cover the entire population, so these strategies must be extended (Chandra, 1991).