We have seen a significant rise in the number of women leaders and entrepreneurs at a global scale. More and more women are now venturing into business with a zeal to prove themselves and become free from the shackles of stereotype image of a woman.

But when we look at the male is to female ratio in leadership and entrepreneurship, we may notice a huge gap. Especially in a developing nation like India, we see a huge gap in the leadership roles, based on the gender. We are very evidently living in a male chauvinist society where women are still suppressed and are not seen fit for any work apart from the household chores and taking care of the family.

India ranks 3rd lowest when it comes to seeing women for leadership and entrepreneurial roles. The society faces a huge gender leadership gap. This is the situation when we have some really powerful and impact female entrepreneurs and leaders who have paved their way to success and broken all the gender stereotypes.

Mentioned below are some of the most influential women of India, who went out of their way to prove the stereotypes wrong and achieve the success:

The women mentioned above are a few examples of what a woman can really do. When there are so many qualified and talented women in this country, what is stopping them to achieve the level of success they deserve?

In this post we have listed a few hindrances that women entrepreneurs face when startin-up or continuing a business. Let’s have a look at the problem women entrepreneurs in India face:

• Financial constraints: Women do not have personal properties, registered under their name, especially in India, where the males are considered as the inheritors of the family wealth. This gives women limited access to finances and since they have little to no property under their name which they can use to acquire finances from external sources, this proves to be a major hindrance while starting a business. Any business needs finance, during the phase it is being commenced (as initial investment) and all the while it is being run (operational finances).
  Secondly, women also face discrimination and lack of support from bank when approaching to take a loan for business. Since women do not have much property to offer as collateral, banks doubt their ability to repay the loan and their loan application is often rejected. They have to rely on their personal savings or borrow from the known-ones, which is often very less to run a business.
• Dearth of raw materials: Women entrepreneurs often face the problem with the availability of raw materials and other inputs required to operate a business. The high prices of raw materials proves to be a major hindrance and due to this the business often fails.
• Restricted movability: Women in India find it difficult to move places either due to family concerns or the issues they face while trying to get an accomodation for self. People hesitate in giving a woman even a single room. This restricts their efforts and other exercises required to be done in starting up a business.
• Lack of family support: In indian families, the role of women is mostly considered to be limited till household only. Everything from raising kids to taking care of the elders and other household chores in considered the responsibility of the women. These chains of unshared responsibilities often force women to give up on their idea of even starting a business or taking an initiative. Even if they do so, they later on quit due to family obligations.
• Literacy level of women: Though the literacy rate in India has went up since its independence, a lot is still required to be done when it comes to educating women in the country. Around 60% of women in India have not been exposed to literacy. Inadequate literacy levels give birth to various socio-economic issues. Due to lack of proper knowledge and education, women are not aware of their rights and are also unaware of the market, technology, investments, etc. the low level of literacy among women makes women feel low-esteemed and less confident. Thus they are unable to take any initiative to start a business or to achieve something in their life.
• Male chauvinist society: There is no denying the fact that the world is male-dominated, especially the Indian set-up. Men are thought to be born leaders and capable of doing any task where as women are considered inferior and are not given fair chances as compared to men. This discrimination based on gender makes society lose out on some really good talent and leaders. Women find it difficult to enter the world of business due to the barriers created on the basis of gender.
• Cut-throat competition: Business today, is not easy. The market is full of service providers and this has made the competition really intense. Women entrepreneurs lag behind in having an organizational set-up to get huge sums to spend on marketing and promotion of their product and services. They struggle a lot to market their products and services, both with the organized sectors and male-directed enterprises. This often leads to liquidation of their company.
• Risk-bearing capacity: Women in India are brought-up in a very restricted and protective environment. Their decision-making abilities are quite low and often their opinions are ignored. This inculcates a feeling of fear and hesitation in them and they are low on confidence. Business requires risk bearing capability and Indian women often lack here. Not being financially much stronger and independent, they hesitate to initiate. Low need for social accomplishment and recognition, unavailability of resources, shortage of finance and societal pressures also keep women from entering into business.

What can be done to encourage women entrepreneurs to take initiative and run their business?

• Financial assistance: Since finance is important for running a business and women often face financial issues, government organizations, banks and even the family member should be supportive of women who are willing to start a business and want financial assistance for the same.
• Training facilities: women who are willing to be an entrepreneur and take the risk of venturing into the business must be offered training on how to start and operate a business.
• Assistance with the marketing: Since women have restricted movability, they face challenges while trying to market their products and services. They should be provided help with the same so that they can successfully market their products/services in the commercial space.
• Support from family: The families must understand that the time is changing, and the women are as free as men to do anything they wish to. The families must be supportive of the initiatives of women and should encourage shared responsibility system rather than expecting women to perform every household task and comply with family commitments.
• Technical assistance: women should be trained in technical areas so that they become aware of new technological advancements and know how to select various machineries, equipment and other tools necessary for the business.

With a little help and a chance, women can achieve whatever they want and contribute in nation’s growth. Turacoz Foundation believes in empowering women and giving wings and her space to fly. Every woman deserves a chance and a little support, and she can do wonders.

This is for the same reason that we help women with their careers. We train women who were on career break and provide them opportunity to work from home.

We, at Turacoz Foundation believe that a woman is #MoreThanJustAGender. We are constantly working towards making women emotionally, financially and mentally independent.

To join us in our journey and to be a part of our growing family, write to us at [email protected]