WOMEN ENTREPRENEURSHIP

WOMEN ENTREPRENEURSChallenges & Achievements INTRODUCTIONEntrepreneurAn entrepreneur is someone who is a risk taker and is ready to face challenges.Women EntrepreneurIt may be defined as a woman or group of women who initiate, organise and run a business enterprise.Government of India has defined women entrepreneurs as owning and controlling an enterprise with a woman having a minimum financial interest of 51% of the capital and giving atleast 51% of the employment generated in the enterprise to women.CHARACTERISTICS OF WOMEN AS ENTREPRENEURS

ImaginativeAttribute to work hardPersistenceAbility and desire to take riskProfit earning capacity

LEADERSHIP QUALITIESAccept challengesAmbitiousDriveEnthusiasticHard workPatienceIndustriousMotivatorSkillful

AdventurousConsciousEducatedDetermination to excelExperiencedIntelligentStudiousKeenness to learn and create new ideasIMPORTANCE OF WOMEN ENTREPRENEURSA good share of the population.Traditionally outside the domain of economic activities.They must be made part of the economic development, because it will ensure the economic & social development of the women along with providing more human resources to strengthen the economy of the country. The economic status of women is now accepted as an indicator of a societys stage of development.

WHY WOMEN BECOME ENTREPRENEURS?PULL FACTORSAn urge to do something newLiking for businessNeed and perception of Womens Liberation, Equity, etc.To gain recognition, importance and social status.To get economic independenceTo build confidenceTo developing risk-taking abilityTo gain greater freedom and mobilityPUSH FACTORSDeath of bread winnerSudden fall in family incomePermanent inadequacy in income of the familyThe category of push factors forms a negligible percentage of women entrepreneurs. THE INDIAN APPROACH Earlier there were 3 KsKitchenKidsKnittingThen came 3 PsPowderPapadPicklesAt present there are 3 EsElectronicsEnergyEngineering

When women move forward, the family moves, the village moves and the nation moves.....-Pandit Jawaharlal NehruChallenges for Women Entrepreneurs ?Challenges for Women Entrepreneurs1.Cultural Values:This is dominant in the India setting where the man is believed to be the bread winner of the family, leaving the woman to just domestic chores. If the woman is seen doing some sort of work, she is believed to be taking the position of the head of the family.2.Lack of access to finance:Another major challenge women entrepreneurs face is not able to access enough capital to start up their business. Most banks and investors dont give women capitals to start up a business, this because of their lack of trust in them to pay back. This sometimes due to the fact that some of the women may not be fully grounded in their knowledge of the business, therefore having a bad business plan. It can also be due to the reason that the woman may not have a collateral.

Cont.3.Emotions and wanting to please everyone:women generally are more emotional compare to men,For men, a business is mostly about the bottom line, but for women, its more than that, said Delia Passi, CEO of Women Certified. We get emotionally connected, and that can hold us back from making the tough decisions. Women like to build relationships and nurture them, but they still have to direct, firm and be focused on their business goals.4.Discrimination from the society:Most people still have the mentality that a woman should not be allowed to take some certain business in the society. They believe those business are meant for men and a woman cannot be fully competent in it. But this believe is actually not true, because their are women who have even done far better than men in some certain areas.

Cont.5.Inferior Educational Background:In some part of the world, women are still given the ability to go deep educational and also to get additional skills that will help them in the business world. It has been known that most women just get basic education which most times is not enough to help them gain any ground in the business world. 6.Afraid of Failure:Failure and success are part of life, before a person can be successful, you have to have experienced failure. One has to build confidence and encourage oneself in order to be able to achieve success in any business.7.Combining Raising a Home and a Business:Having to raise your children and also maintain your business is a very challenging task. As we all know women are the backbone of the home, soyou have to find a way to balance up being with your family and also managing your business.

Other challengesProblem of LaborLack of Relevant Education and ExperienceConflicts between Work and Domestic Commitments Access to TrainingOVERALL PRODUCT SELECTION BY WOMEN ENTREPRENEURS IN INDIAAchievement of Women EntrepreneursSOME FAMOUS WOMEN ENTREPRENEURSStarted her own company, Biocon, in her garage with an investment of `10000 in the year 1978.Loan application was turned due the reasons:Biotechnology was nascent at the time in India.She was a woman.Her organisation had almost nil assetsWith hard work and commitment, Shaw transformed Biocon into one of the leading biopharmaceutical firms in India.

Dr. Kiran Mazumdar Shaw

Woman who single-handedly founded and made Balaji TelefilmsCurrently the creative head of Balaji Telefilms and counted as one of the top 10 women entrepreneurs of today. Known to be fiercely protective of her company and brand, Ekta is also very professional and has strong business acumen.

Ekta Kapoor

One of the most prominent personalities of the corporate world. The products launched by her Company head their way to leading global stores.Her company Shahnaz Husain Herbals has witnessed tremendous growth.She has received many awards such as "The Arch of Europe Gold Star for Quality", "The 2000 Millennium Medal of Honour", "Rajiv Gandhi Sadbhavana Award" and many more.Shahnaz HusainA native ofAmritsar.Kumar has been designing the wardrobes com of the three winningMiss Indias, for their participation in InternationalBeauty Pageants.Ritus outfits have been patronized by style icons such as latePrincess DianaandJemima Khan.

Ritu Kumar

Cherish Life creates apparel and accessories for pregnant women, young mothers and infants.Cherish Life aims to accomplish precisely what the name suggests: to applaud every pregnant lady for the life she creates.Arathi KuppuIndraNooyi

Current position: CFO, Pepsico

Indra Nooyi,56, is the currentchairmanand CFO of the second largestfood and beveragebusiness, PepsiCo.

Beginning hercareerin India, Nooyi heldproduct manager positionsat Johnson & Johnson and textile firm Mettur Beardsell. Nooyi joined PepsiCo in 1994 and was named president and CFO in 2001.

She has been conferred with prestigious Padma Bhushan for her business achievements and being an inspiration to Indiascorporate leadership.

BASIC PROBLEMS FACED WOMEN ENTREPRENEURSHer being a womanResponsibility towards family, society and workMale dominated societyTough Competition with large scale unitsLack of business trainingLack of educationLow risk bearing abilityObtaining creditNon-awareness of facilities provided by governmentQuestions by licensing authoritiesMarketingPSYCHO-SOCIAL BARRIERSPoor self-image of womenInadequate motivationDiscriminating treatmentFaulty socialisationRole conflictCultural valuesLack of courage and self-confidence

Inadequate encouragementLack of social acceptanceLack of freedom of expressionAfraid of failures and criticismSusceptible to negative attitudeLacking in leadership qualitiesSUGGESTIONSProcedure of getting finance should be simpleEffective propagation of programmes and yojnas.Linkages between product, services and market centers.Encouragement to technical and professional education.

OTHER SUPPORT AGENCIESDomestic Agencies: Small Industries Development Bank of India, SIDBIIndustrial Development Bank of India (IDBI)Ministry of Small Scale Industries (SSI), Government of India.National Bank for Agriculture Rural Development (NABARD)Department of Women and Child Development (WCD), Ministry of HRD, GOISelf Help Groups (SHG)Mahila MandaliInternational Agencies:

United Nations Development Fund for Women (UNIFEM)Asian Development Bank (ADB)International Labour Organization (ILO)United Nations Conference on Trade and Development (UNCTAD)Center for International Private Enterprises (CIPE), USASwedish International Development Cooperation Agency (SIDA), SwedenWorld Trade Organization (WTO)WOMEN ORGANISATIONS SUPPORTING WOMEN ENTREPRENEURSShri Mahila Griha Udhyog Lijjat Papad; www.lijjat.comMahila Bunkar Sahakari Samiti, UPSABAL: Crafting Exports of Indian Handicrafts; www.sabalaindia.comwww.indiatogether.org