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256 | P a g e
CHALLENGES AND OPPORTUNITIES FOR
ENTREPRENEUR WITH REFERENCE TO WOMEN
ENTREPRENEUR
Sachin Yadav1, Brijesh Kumar
2
1,2Assistant Professor, IIMT College of Management, Greater Noida, (India)
ABSTRACT
This paper focuses on the impact of women entrepreneurship in India. Entrepreneur is one who always searches
for change, responds to it and exploits it as an opportunity. Innovation is a specific tool of entrepreneur, the
mean by which they exploit change as an opportunity for a different business or service.
The objective of this particular study is to explore the challenges and opportunities for women especially in
India because our society is known as a male dominated society. India is one fastest emerging economies and
importance of entrepreneurship is realized across the spectrum. In India, women constitute 50% of total
population but still till the turn of the century, man has enjoyed a dominant position and women have been
relegated to a subservient level. Considering the flow of women entrepreneur in the traditional and
conventional industries, it is often criticized that the women entrepreneurship in India is caught up in three
pieces, i.e., pappad, pickles and painting. In the age of globalization, women have entered all the fields of
business and industry. In the last decade there has been a remarkable shift in the emphasis from manufacturing
industry to the service industry. Therefore, the government of India should take an active role in encouraging
women empowerment, to provide day care and also incentives to companies that encourage women
employment.
Keywords: entrepreneur, women entrepreneurship, challenges, opportunities, factors influencing
women entrepreneurship, steps taken by the Indian government
I. INTRODUCTION
The modern world is full of challenges and opportunities. If we talk about the business opportunities, women are
for ahead with their career and businesses. They are creating the values and nurturing the society with their
inherent and natural characteristics. Globalization thrown the new horizon and gave new dimensions to all and
women are not exception especially in entrepreneurial field. Gone are the days when women were known as the
„Abla‟, i.e., dependant. Now–a-days, they are participating in each and every field and ready to face any kind of
challenge. The word “entrepreneur” is derived from the French word entrepreneur. It means “to undertake”. In
the early 16th
century, the Frenchmen who organized and led military expedition were referred to as
“entrepreneur”
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Model: ………………………………..
An entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity.
Innovation is an instrument of entrepreneurship. An entrepreneur innovates and creates resources because there
is no such thing as resource until someone find a use for something. An entrepreneur converts a material into a
resource or combines the existing resource in a new or more productive configuration. An entrepreneur need not
be the owner of the business. A professional manager who mobilizes the resources and allocates them to make a
commercial gain from an opportunity is also an entrepreneur.
Women owned businesses are highly increasing in the economies of almost all countries. 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. A strong desire to do something positive is an inbuilt
quality of entrepreneurial women, who is capable of contributing values in both family and social life. With the
advent of media, women are aware of their own traits, rights and also the work situations. The glass ceilings are
shattered and women are found indulged in every line of business from pappad to power cables. The challenges
and opportunities provided to the women of digital era are growing rapidly that the job seekers are turning into
job creators. They are flourishing as designers, interior decorators, exporters, publishers, garment manufacturers
and still exploring new avenues of economic participation. In India, although women constitute the majority of
the total population, the entrepreneurial world is still a male dominated one. Women in advanced nations are
recognized and are more prominent in the business world.
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II. REVIEW OF LITERATURE
Bharti Kollan & Indira J. Parikh, (2005), discussed the transformations that have occurred in the role of women
entrepreneur from fifteen century to twenty first century. They have discussed about the status of women
entrepreneurs and problem faced by them.
Dima Jamali,(2009),This purpose of the paper to examine the interplay of constraints and opportunities
affecting female entrepreneurship in developing countries. The paper integrates salient micro- and macro-level
perspectives and provides a rounded account of opportunities and constraints as part of a holistic interdependent
system.
Tambunan, (2009), studied the recent developments of women entrepreneurs in Asian developing countries. The
study focused mainly on women entrepreneurs in small and medium enterprises based on data analysis and
review of recent key literature. This study found that in Asian developing countries SMEs are gaining
overwhelming importance; more than 95% of all firms in all sectors on average per country. He also depicted
the fact that representation of women entrepreneurs in this region is relatively low due to factors like low level
of education, lack of capital and cultural or religious constraints. However, the study revealed that most of the
women entrepreneurs in SMEs are from the category of forced entrepreneurs seeking for better family incomes.
Dr. Vijayakumar, A. and Jayachitra, S.,studied the importance of Women entrepreneurship in India in the wake
of economic liberalization and globalization. The policy and institutional framework for developing
entrepreneurial skills, providing vocation education and training has widened the horizon for economic
empowerment of women. However, women constitute only one third of the economic enterprises. There exist a
plethora of successful business women entrepreneurs both in social and economic fields in India. They are
performing well. Government of India has also introduced National Skill Development Policy and National Skill
Development Mission in 2009 in order to provide skill training, vocational education and entrepreneurship
development to the emerging work force. However, entrepreneurship development and skill training is not the
only responsibility of Government and therefore other stakeholders need to shoulder the responsibility. In Hindu
scriptures, woman has been described as the embodiment of shakti. But in real life she is treated as Abla.
Women are leaving the workforce in droves in favor of being at home. Not to be a homemaker, but as job-
making entrepreneurs. The increasing presence of women in the business field as entrepreneurs has changed the
demographic characteristics of business and economic growth of the country. Women-owned businesses
enterprises are playing a more active role in society and the economy, inspiring academics to focus on this
interesting phenomenon. This paper focuses on the problems, issues, challenges faced by women entrepreneurs,
how to overcome them and to analyse policies of Indian government for and problems faced by them while
pursuing their business.
Yogita Sharma, (2013), Conducted studied on major problems faced by Indian women entrepreneurs, success
stories of Indian women entrepreneurs, factors influencing women entrepreneurship and steps taken by the
government for upliftment of Indian women entrepreneurs.
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Hina Shah,(2013), attempt to identify strategies and policies which could create an enabling environment for
women entrepreneurs and/or would-be entrepreneurs in India. The study finds that sociocultural factors
represent important barriers to women‟s entrepreneurial activities, while combining work and family life is also
a challenge for a majority of women entrepreneurs. According to the study, support for starting an enterprise
came essentially from informal sources, with a very small proportion of women having sought help from
Government schemes and programmes. The study concludes with a wide range of recommendations to promote
a more enabling environment for women‟s entrepreneurship in India.
III. METHODOLOGY
The prepared paper is a descriptive study in nature. The secondary data and information have been analyzed for
preparing the paper extensively. The secondary information have been collected from different scholars‟ and
researchers‟ published books, articles published in different journals, periodicals, conference paper, working
paper and websites.
IV. CHALLENGES FOR WOMEN ENTREPRENEUR:
4.1 Lack of confidence – In general, women lack confidence in their strength and competence. The family
members and the society are reluctant to stand beside their entrepreneurial growth. To a certain extent,
this situation is changing among Indian women and yet to face a tremendous change to increase the rate
of growth in entrepreneurship.
4.2 Socio-cultural barriers – Women‟s family and personal obligations are sometimes a great barrier for
succeeding in business career. Only few women are able to manage both home and business efficiently,
devoting enough time to perform all their responsibilities in priority.
4.3 Market-oriented risks – Stiff competition in the market and lack of mobility of women make the
dependence of women entrepreneurs on middleman indispensable. Many business women find it
difficult to capture the market and make their products popular. They are not fully aware of the
changing market conditions and hence can effectively utilize the services of media and internet.
4.4 Motivational factors – Self motivation can be realized through a mind set for a successful business,
attitude to take up risk and behavior towards the business society by shouldering the social
responsibilities. Other factors are family support, Government policies, financial assistance from public
and private institutions and also the environment suitable for women to establish business units.
4.5 Knowledge in Business Administration – Women must be educated and trained constantly to acquire
the skills and knowledge in all the functional areas of business management. This can facilitate women
to excel in decision making process and develop a good business network.
4.6 Awareness about the financial assistance – Various institutions in the financial sector extend their
maximum support in the form of incentives, loans, schemes etc. Even then every woman entrepreneur
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may not be aware of all the assistance provided by the institutions. So the sincere efforts taken towards
women entrepreneurs may not reach the entrepreneurs in rural and backward areas.
4.7 Identifying the available resources – Women are hesitant to find out the access to cater their needs in
the financial and marketing areas. In spite of the mushrooming growth of associations, institutions, and
the schemes from the government side, women are not enterprising and dynamic to optimize the
resources in the form of reserves, assets mankind or business volunteers.
4.8 Legal, Statutory and Procedural formalities – The legal, stationary and procedural formalities to be
completed before and after launching an enterprise frighten entrepreneur as they possess little
knowledge about it.
4.9 Decision making and Problem solving – Quick decision making and problem solving approach is not
commonly found among the women entrepreneur. They get emotionally involved in tackling
problems.
4.10 Inadequate Vocational and Technical Training – Inadequate vocational and technical training
among women reflects upon their project selection. Usually they select low technology projects.
Awareness about the new openings in the field of electronics, software, television, radio, repackaging
and service industries and vendor management is not developed sufficiently.
4.11 Operational Problems – Many women entrepreneur face operational problems particularly when
dealing with the workers. The male workers do not like to take order from women executives.
4.12 Lack of Management Inputs – Many women entrepreneurs lack of management inputs like business
planning, administration, marketing, finance, labour laws, taxation etc. This makes them “weak
entrepreneur”
V. OPPORTUNITIES FOR WOMEN ENTREPRENEUR
In last decade, there has been a remarkable change shift in emphasis from the manufacturing industry to service
industry. Highly educated, technically sound and professionally qualified women should be encouraged for
managing there own business, rather than dependent on wage dependent employment outlets. Considering this,
some important opportunities are identified for the women in urban areas.
Eco-Friendly technology
Bio- Technology
IT-Enabled enterprises
Event Management
Tourism Industry
Telecommunication
Plastic Material
Vermiculture
Mineral Water
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Sericulture
Floriculture
Herbal Health Care
5.1 Opportunities for women in semi urban areas:
Considering the socio-economic, cultural-and-educational status and motivational levels of women in semi
urban areas, particularly projects with low investments, low technical know-how and assured markets are
suggested for them. Following are the important opportunities for them-
Production of liquid soap, soap powder, detergents and deodorants etc.
Office Stationary like cushion pads, gum, ink, ink pads
Child care centers and cultural center for children
Nursery classes
Manufacturing of leather goods
Garments
Communication services
5.2 Opportunities for rural women:
There are following opportunities for rural women-
Food, fruit and vegetable processing
Traditional medicine preparation
VI. MEASURES TO BE TAKEN FOR DEVELOPMENT OF WOMEN ENTREPRENEUR
6.1 Socio-cultural attitudinal change – A measure to be taken to change socio-cultural attitude of society
promoting women entrepreneurship. Consider women as a specific target group for all developmental
programmes. Better educational facilities and schemes should be extended to women folk from the
government.
6.2 Development of support system to reduce women’s family responsibilities- This can be done by
opening better crèche facilities.
6.3 Managerial skill improvement training- Adequate training programme on management skill is to be
provided to women community.
6.4 Vocational training- Vocational training is to be extended to women community that enables them to
understand the production process and production management. Skill development is to be done in
women‟s polytechnique and Industrial Training Institute.
6.5 Easy procedure to be followed by Banks- State finance corporations and financing institutions should
permit by government to extend purely trade related finance to women entrepreneur. The financial
institutions should provide more working capital assistance both for small scale ventures and large
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scale ventures. Making provisions of micro credit system and repeated gender sensitisation
programmes to train financiers to treat women with dignity.
6.7 Marketing Support- Making provisions for marketing and sales assistance from government part
6.8 Development of “Women Industrial Estates”- Infrastructure, in the form of industrial plots and
sheds, to set up industries is to be provided by state run agencies.
6.9 Mahila(Women) banks and Mahila Co-operative Credit Societies- Mahila(Women) banks and
Mahila co-operative credit societies widen their activities in the development of entrepreneurship.
6.10 Intensive entrepreneurship development training programmes- Training in entrepreneurial
attitudes should start at the high school level through well designed courses, which build confidence
through behavioral games.
6.11 Special effort/programme for women- Government and non-government schemes to motivate
women entrepreneurs.
Nita Ambani, Chairperson of Reliance Foundation and director of Reliance Industries.
VII. SUCCESSFUL LEADING BUSINESS WOMEN IN INDIA
The 21st leading business womens in India:-
Priya Nair, Executive Director, Home Care, Hindustan Unilever.
Deepika Arora ,Regional Vice President (Eurasia), Wyndham Hotel Group.
Arundhati Bhattacharya, Chairman, State Bank of India.
IpsitaDasgupta,Chief Commercial Officer, GE, South Asia.
JyotiDeshpande, Group CEO and Managing Director, Eros International.
TanyaDubash, Executive Director and Chief Brand Officer, Godrej Group.
Shanti Ekambaram ,President, Consumer Banking, Kotak Mahindra Bank.
Aruna Jayanthi ,Chief Executive Officer, Capgemini India.
RadhikaPiramal ,ManagingDirector,VIP.
MeherPudumjee, Chairperson,Thermax.
Chitra Ramkrishna, MD and CEO, National Stock Exchange.
KirthigaReddy ,Managing Director, Facebook India.
SuneetaReddy ,Managing Director, Apollo Hospitals.
Pallavi Shroff, Managing Partner, Shardul Amarchand Mangaldas.
SangitaSingh ,CEO, Healthcare & Lifesciences, Wipro.
JyotsnaSuri ,Chairperson and MD, Bharat Hotels; President, FICCI.
Aisha De Sequiera, Co-Country Head, Investment Banking, Morgan Stanley India.
Anita Dongre, Chief Creative Officer, House of Anita Dongre.
Anuradha Desai, Chairperson, Venkateshwara Hatcheries Group.
Arathi Krishna, Joint Managing Director, Sundram Fasteners.
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NeelamDhawan, Managing Director, Hewlett-Packard India.
Nishi Vasudeva, CMD, Hindustan Petroleum Croporation Ltd.
Vinita Gupta, CEO, Lupin. .
VIII. CONCLUSION
Independence brought promise of equality of opportunity in all sphere to the Indian women and laws
guaranteeing for their equal rights of participation in political process and equal opportunities and rights in
education and employment were enacted. But unfortunately, the government sponsored development activities
have benefited only a small section of women. The large majority of them are still unaffected by change and
development activities have benefited only a small section of women i.e. the urban middle class women. The
large majority of them are still unaffected by change and development. It is hoped that the suggestions
forwarded in this article will help the entrepreneurs in particular and policy-planners in general to look into this
problem and develop better schemes, developmental programmes and opportunities to the women folk to enter
into more entrepreneurial ventures.
REFERENCES
1. Jeanne Halladay Coughlin & Andrew R. Thomas, (2002) “The Rise of Women Entrepreneur- People,
Processes and Global Trends”, Greenwood Publishing Group.
2. Medha Dubhashi Vinze (1987) Women Entrepreneurs In India: A Socio-Economic Study of Delhi - 1975-76,
Mittal Publications, New Delhi.
3. Starcher, D. C. (1996). Women entrepreneurs: Catalysts for transformation : http://
www.ebbf.org/woman.htm
4. A Reflection of the India women in Entrepreneurial World
5. Sharma Yogita, (2013), “Women Entrepreneur in India” Journal of Business and Management (IOSR-JBM)
6. Dr. Vijayakumar, A. and Jayachitra, S.(2012), Women entrepreneurs in India - Emerging issues and
challenges, International Journal of Development Research
7. http://www.businesstoday.in/powerful-businesswomen/2015/
8. http://www.womensweb.in/