A women is efficient, confident and a multi-tasker par excellence. She has perfected the balancing act between family commitments and work challenges.
Women have entered sectors known to be male dominated and written their own success stories. The trend is visible in the business sectors too, where not only have they climbed up the corporate ladder but have struck out on their own as entrepreneurs. Most of these women entrepreneurs have gained the requisite experience in a corporate environment and feel the need to establish their own small or medium enterprise.
The share of female entrepreneurs in India is showing a healthy growth of 71 per cent per year. This comes as a welcome relief after the World Economic Forum ranked India at the 131st position in the list of economic participation and opportunity of women among 135 countries.
A recent study seconds the above figures. India seems to be the best place for woman entrepreneurs who are planning to start a business in 2012.
A study was conducted by renowned research firm Penn Schoen Berland, across 450 women entrepreneurs from India, US and UK. It was conducted by Dell Women’s Global Entrepreneurship Study. The study’s findings say that compared to the women entrepreneurs across US and UK, Indian women entrepreneurs are more certain about growth in their business.
Research on entrepreneurialism has shown that women will play an increasing role in what has essentially been a male-dominated space enables women to grow their companies through the strategic use of technology, the impact on job creation and economic recovery is huge.
According to Dell's recently commissioned Women's Global Entrepreneurship Study, Indian-based women entrepreneurs expect their businesses to grow by 90 per cent over the next five years compared to 24 per cent and 50 per cent growth in business expected by entrepreneur in the UK and the US respectively.
In several countries, cultural and social imperatives prevent women from freely mixing with men, especially those outside their own family. However, this practice is changing in today's global world; women are moving forward and working in a space long dominated by men.
Research has shown that start-ups by women require 40 per cent less capital than those run by men. In the US, women-run enterprises are growing five times faster than all other firms.
Technology has the intrinsic ability to run like a fibre across all sectors and businesses, to provide business results that are measurable. Moreover, more number of Indian women entrepreneurs also stated that they use technology to promote their business and also in the day-to-day functioning of their entrepreneurial dream as compared to women entrepreneurs from the other two developed markets.
90% of Indian women entrepreneurs in India use technology in their businesses whereas US and the UK women entrepreneurs use technology at 80 per cent and 70 per cent respectively.
The report also says that, though female business minds from India agreed that getting funds from banks or credit unions is the toughest, they agreed that obtaining funds from angel investors was the easiest.
For entrepreneurs, constant growth and learning is vital. Networking facilitates this growth and learning. In order to survive in this competitive space, it is imperative to develop and maintain strong entrepreneurial and social networks.
In order to maintain the social ties and networks there are various organizations which working towards empowering women entrepreneurs. Dell's Women Entrepreneur Network (DWEN) and WEConnect International are organizations that facilitate inclusive, sustainable economic growth by empowering and connecting women business owners globally.
Working on similar lines is The Women's Entrepreneurial Network. It supports and guides women business owners, women business professionals and women-friendly businesses grow their business through networking, education and connections.
More and more women entrepreneurs are expected to rise in near future. Special entrepreneurship programmes and policies for women will further help pave the way forward for women.
April 22, 2013, 5:55 am UTC
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