Women entrepreneurship has been underlined as a key strategy for economic growth. Developing the capacity of women can bring positive changes in the society.
Women are inspired by women which means they are the force to increase women entrepreneurs. However, women entrepreneurs in Asian countries are promoting their ventures through their individual efforts because usually everyone of them are led by financial pressure, by chance or by necessity while only few carve their better careers and futures.
Even if they aim to become an entrepreneur, they are not able to reach out the optimum mass to make an impact on economic system. This may be the reason that number of businesses owned women are still small compared to business owned by men; registered women entrepreneurs (3000) only accounts for 0.1% of population in South Asia Watch on Trade, Economics and Environment).
It is not that women in South East Asia lack vision and capacity to build thriving companies, but certain factors impede the development of women entrepreneurship in India.
So, what’s holding back so many women business owners? And what are the problems women entrepreneurs have to face from the very beginning of their journey?
Less investment funding:
Money! You cannot start or grow your business without it. And if you are a woman entrepreneur then you have probably started with less capital compared to men because most of you are there to overcome the personal challenges – and not to become your own boss. In terms of funding too, men tend to receive more fund compared to women. It may be because asking money has been the sensitive subject that women never feel comfortable with and they want to take calculative risk rather than take blind leap of faith. Women in India start their ventures with less capital than men. Although the rate has been decreasing, it won’t go away until men join them and become part of the solution.
Network:
Women have stronger skills in collaborating and building relationships than men, but still they lack vast network needed for entrepreneurship. This might be because women seek for long-term and deeper relationships whereas men tend to have casual and wider relationships. Women entrepreneurs also face lots of problem in marketing and have to deal with various middlemen who pocket the chunk of profit.
It is not to say that this problem cannot be overcome. Developing network with other men and women is the key to minimizing problems of middlemen. Women entrepreneurs must have mass of women in their networks that can help them gain credibility. So try to make a concerted effort to connect with powerful businesswomen, and if you’re in a position to mentor somebody else, step up and do it.
Work-Family Balance:
Women entrepreneurs have to take their family and business simultaneously. They have the dual responsibility and have to devote time accordingly. Many situations can arise where women have to prioritize between work and family. Being a mother, woman entrepreneur finds it difficult to put work above family.
But it’s not impossible to find the balance. If you’re one of the women entrepreneurs and are done with the stack of paperwork, kick off your heels and celebrate with family. Along with this, the beneficial side is, you come up with the skills that do well in entrepreneurship like: multitasking, operating on a budget, problem-solving to say the least.
Breaking the Barrier:
Pramila Rijal, president of SCWEC (SAARC Chamber Women Entrepreneur Council), states that, Asian women entrepreneurs have not broken the glass ceiling, but they have already made the first cracks.” Pramila, with SCWEC, is helping many women who dream to stand on their own feet and striking blows to make more cracks in the glass ceiling to finally break through.”
If the successful entrepreneurs are able to realize these problems, then for sure they can lend the helping hands to improve and promote women entrepreneurship in India. But they need to multiply their numbers, and only then the conventional perception of women in business world would turn the way around.
By Ms. Priyanka Singh, Founder Taj Agro Products
