TomorrowMakers

India has 14 per cent of Women Entrepreneurs in the country. The percentage is relatively low even with a talented and intelligent women workforce. The challenges women face must be eradicated to pave the way for young women entrepreneurs!

Challenges faced by women entrepreneurs

India has a total of 58.5 million entrepreneurs, out of which only 8.05 million are women entrepreneurs. Even though India has a highly skilled and hardworking women workforce, the percentage of women entrepreneurs is low. We must understand the issues faced by these female entrepreneurs and the way to eradicate them.

What are the critical challenges faced by women entrepreneurs in India?

The most common challenges faced by women entrepreneurs are:

1. Inability to comprehend their potential
Women entrepreneurs often cannot comprehend their true potential and the business they can create. Low confidence and lack of support from family or co-workers can hinder their ability to believe in themselves.

2. Less exposure 
Women often need help finding role models from whom they can learn. 34 per cent of the workforce in start-ups are women, but less than 20 per cent are in leadership positions. 

3. Cultural constraints
Women in India are culturally groomed to raise children and play the role of mother. While it is undeniable that being a mother is a critical role, it is also unacceptable to say that it is the only role they can undertake. 

4. Monetary constraints
Women can find it challenging to find investors ready to invest in their ideas. Even when it comes to financial institutions, only 29 per cent of borrowers constitute women. 

5. Lack of inclusiveness
Even after constituting 19.23 per cent of the workforce, women are not included in critical discussions and decisions at the workplace. Women can find it difficult to find equal opportunities in complex processes where they can learn the most.

6.Mobility concerns
Women's Safety is an issue which comes up every time a woman decides to become an entrepreneur. Working late at night, travelling to different cities and meeting other people for business has become an issue for most women in the country. 

Also read: Challenges faced by women entrepreneurs

What can be done to eradicate the challenges and constraints for women entrepreneurs?

These challenges and constraints can be eradicated by taking the following actions:

1. Changing the workforce's mindset to make the working environment inclusive for women leaders and entrepreneurs.

2. Making new policies to encourage and increase the growth of rural and urban entrepreneurs.

3. Providing financial assistance to women entrepreneurs and creating schemes to provide funding at low interest rates.

4. Addressing the gender gap by educating the upcoming generation about the contribution of women in various sectors. 

5. Providing opportunities for exposure by conducting events, including women in key decision making and allowing them to observe critical processes within a company.

6. Utilizing technology effectively to bridge the distance between young women entrepreneurs and women leaders in the sector.

Also read: 8 must-read books for female entrepreneurs

Final Words

Women entrepreneurs in India face many challenges that inhibit their potential to create start-ups that can benefit the country. These challenges must be eradicated to about a new and positive change in the business world.