KEY HIGHLIGHTS
- Only 14 percent of Indian women own or run businesses.
- Women entrepreneurs should rise to 30-35% over the next decade
- Schemes like the Bharatiya Mahila Business loan scheme in 2013, and Mahila Udyam Nidhi Scheme in 2021 were initiated by the government.
The 21st century has brought along dozens of female entrepreneurs in India. More than 90 percent of companies run by women are micro-enterprises, and about 79 percent are self-financed.
According to a study published in 2021 by the World 6th Economic Forum, women contribute only about 20% of the MSME sector in India. And as compared to 50 million male entrepreneurs, only over 8 million women own businesses.
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While the country has seen a rise in women entrepreneurship in the past 60 years, there is a long way ahead of us to encourage women business owners and tip the scales.
The Indian government has launched several entrepreneurial schemes and initiatives to support the female entrepreneurs to develop their skills, secure a loan with relaxed business loan eligibility, and run their businesses.
Despite such initiative, the female entrepreneurs are struggling withfinance and funding.
“As women, we struggle with equities and debt fund raising”, said Singh. Hence, women entrepreneurs should rise to 30-35% over the next decade, adds Singh to get and fulfil the ratio of funding.
Singh adds that “domestic participation is skewed”. The amount of time a woman spends on household chores is more than men.
“The biggest partnership required to run this enterprise for a long time starts at home.”
She indicates that the main support should come from home and if that partnership and support system is there, it would encourage more women to come out and explore their start-up ideas and manifest them into reality.
Whereas Dipika shared her thoughts on the change of mindset when women founders are on the table, the fundraisers think in terms of,” whether she is going to have children, she is going to take a leave.”
This disrupts and affects the funding system altogether in terms of gender.
Citing a different approach to the matter she adds, “if you don’t ask for help you won’t get it”. Women need to be bold in terms of stepping in and asking for their help and congratulated Vineeta for raising $ 50 million at a dry funding season.
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