Driving Trends Of Women Entrepreneurship

Women have always created wonders when they’ve taken charge – and we have many examples to prove that. This has not only resulted in significant business and economic growth in the country but have also helped to inspire the next generation of female entrepreneurs.

From being the anchors of home and family to becoming significant wealth creators, they have entirely changed the perennial perception that women should be restricted to household chores. Evidently, today we have several women professionals who have switched their careers from being HR executives, doctors, bankers, techies, consultants, etc., to certified fitness trainers and entrepreneurs.

Following are a few drivers which has further assisted the expansion of women entrepreneurship in India-

1. Digital Launchpad

Many brands in the market have come in, conquered and changed the face of the respective market by just starting through online channels like websites, Instagram. This not only saves the time and hassle of physical set-ups and approvals but also increases the audience reach faster by social ads and targeting.

2. Global reach through remote work set-ups

Pandemic has given rise to not only various business ideas but also remote work culture. Many women driven businesses have been given birth during this time period from home and they continue to run the business even through the hybrid model. Not only it’s an efficient way to save infrastructural expenses but also an ideal way to reallocate the budget to digitisation and reach out to potential customers globally. It also ensures a full-proof way of running the venture without any hassle for any upcoming pandemic situation.

3. Home grown-Localisation

Women have always been multi-taskers. They can implement the best practices and learnings from one sphere of their life and can implement the same for the betterment of other spheres. Women lead power houses have seen inspirations from their personal lives and respective journeys. We never imagined something which always came from the kitchen like an Ubtan can become a bestselling product and become a whole brand. Right from Zivame, Thrillophilia, Babychakra, to even Fixderma, the success of these brands has given rise to the trend of home-grown inspirations.

4. Influencer first approaches

Like Women entrepreneurs draw inspirations from their life and surroundings, they also believe in reaching out to the right target audience and communicating to them through more relatable voices than directly vouching for celebrity endorsements. The brands have become a regular on Influencer campaigns and communications right from launches to sale.

They are not only more relatable but also more customised and regional which not only makes the communication and product proposition more impactful but also more believable.

5. Freelance expertise

Old styles of freelancing were once restrained only to certain industries, but in today’s world of digital communication and new office models, almost anyone can become a freelancer in any industry. This not only has removed the hassle and burden of managing funds and resources for full time employees but also has changed the dynamics of last-minute availability. There are multiple websites where an entrepreneur can connect and hire freelancers not only on the basis of urgency and budget but also experience. This helps businesses to run more efficiently and cost-effectively.

6. Adoption of Omni channel presence

As mentioned before, pandemic has amplified digitisation. It has changed the purchase pattern of customers. More and more customers are now depending upon the internet for the purchase and services. The consumption pattern of media and content have changed. Today content on digital has capability of making or breaking a business. Hence, regardless of the sector of the business, entrepreneurs have adopted themselves and have made it a mandate to be present phygitally to ensure sustainable audience reach, connection and business growth.