Confucius once said ‘Choose a job you like , and you will never have to work a single day in your life’, and this stands true for all the entrepreneurs out there, who are following their passion, and dedicating their time, sweat and blood for the creation of their product or service. Entrepreneurship is a field which requires the individual to accept ambiguity and challenge despite being exposed to uncertainties and criticisms.
We all have heard and know of male entrepreneurs who envision their dreams into reality. However, this is not the case for the female counterpart. Female entrepreneurs have to break through centuries old conventions and take a stand for themselves to venture into the business world.
According to Forbes India, Women make up to 13.76 percent of entrepreneurs in India, this is fairly less than its male counterpart. However, it can be seen that the numbers are accelerating at an impressive rate.
Need of the Hour
According to an article by Times of India, Women owned business in India are likely to rise 90 percent in the next five years, as compared to the US (50%) and UK (24%). Such statistics are clearly impressive as it not only established the potential Indian women entrepreneur possess, but also encourages the younger generation to propagate venture on their own and not just depend on employers.
The urge to have women entrepreneurs onboard will not only benefit to boast the economy of the country but also help to manifest the socio-political and economic development of women.
Government schemes for women entrepreneurs
The Government of India has launched substantial number of programs and schemes, that would benefit women entrepreneurs in India. According to an article by Indifi, GOI launches 9 such schemes that empowers women entrepreneurs. Few of the schemes are:
- Annapurna Scheme- this scheme provides loans to women in food catering industries who are still establishing their small scale business.
- Dena Sakti Scheme- this scheme is for women entrepreneurs in the field of agriculture, retail, manufacturing or micro-credit business.
- Mudra Yojana Scheme- this scheme tries to improve the status of women by providing them loans to make them self-reliant and financially independent.
There are more such schemes that are especially catered to help empower women entrepreneurs coming from all walk of lives.
Pandemic and women entrepreneurs
The pandemic has affected employment all over the world, and women employees are no exception to it. With the on-going lockdowns many lot their jobs, and thus in order to make their living we could see a number of small women entrepreneurs trying to make their living by selling handmade masks, jewellery, embroidery, selling home cooked food on the streets and much more. This provided them the opportunity to be financially independent and make a living for themselves in their own terms. Although the sales and profit are not guaranteed, it at least helps them feed themselves, which is a better alternative to unemployment.
The pandemic also saw the rise of small urban-women owned businesses such as selling handmade crochets, macramé, resin products and much more, whose primary medium of marketing are through social networking sites. These are mainly owned by the young women who are treating it as a side hustle, along with focusing on their respective careers and educations. Thus, being self-reliant along with having a career alternative.
Being an entrepreneur requires a vision and dedication to achieve this goal. Falguni Nayyar started her entrepreneurship journey with Nykaa at the age of 50 and now she is one of the first two women self-made billionaires in India. Its never too late to start a venture of your own.