Women Entrepreneurs

WOMEN ENTREPRENEURS: Women entrepreneurs may be defined as a woman or a group of women who initiate, organize and run a business enterprise. In terms of Schumpeterian concept of innovative entrepreneurs, women who innovate, initiate or adopt a business activity are called business entrepreneur. It is the group of women or single women running an enterprise or company in order to earn profit. Now days because of   women empowerment women are stepping-stone into the industries and are taking the place of men. Now a day’s women’s are running several business like beauty parlours, switching shops, boutiques, etc.

The areas chosen by women are retail trade, restaurants, hotels, education, cultural,  cleaning insurance and manufacturing. Women entrepreneurs have been making a significant impact in all segments of the economy in Canada, Great Britain, Germany Australia and US. Till the turn of the century, man has enjoyed a dominant position. But change in position technological innovation and modern way of thinking can reduce the disparity between man and women, and bring about equality and equity between them, the need of the hour in women empowerment both through provision of employment and enterprise creation.

The Government of India has defined women entrepreneurs based on women participation in equity and employment of a business enterprise. Accordingly, a woman entrepreneur is defined as an enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to a woman. They have made their mark in business because of the following reasons: * They want to improve their mettle in innovation and competitive jobs. * They want the change to control the balance between their families and responsibility and their business levels. They want new challenges and opportunities for self fulfilment. Role of women as an Entrepreneur’s: 1) Imaginative: It refers to the imaginative approach or original ideas with competitive market. Well-planned approach is needed to examine the existing situation and to identify the entrepreneurial opportunities. It further implies that women entrepreneur’s have association with knowledgeable people and contracting the right organization offering support and services. 2) Attribute to work hard: Enterprising women have further ability to work hard. The imaginative ideas have to come to a fair play.

Hard work is needed to build up an enterprise.. 3) Persistence: Women entrepreneurs must have an intention to fulfill their dreams. They have to make a dream transferred into an idea enterprise; Studies show that successful women work hard. 4) Ability and desire to take risk the desire refers to the willingness to take risk and ability to the proficiency in planning making forecast estimates and calculations. 5) Profit earning capacity:  she should have a capacity to get maximum return out of invested capital. A Woman entrepreneur has also to perform all the functions involved in establishing an enterprise.

These include idea generation, and screening, determination of objectives, project preparation, product analysis, determination of forms of business organization, completion of formal activities,  raising funds,  procuring men machine materials and operations of business. Fredrick Harbiscon, has enumerated the following five functions  of a women entrepreneur’s : * Exploration of the prospects of starting a new business enterprise. * Undertaking a risk and handling of economic uncertainties involved in business. * Introduction of innovations, imitations of innovations. * Co ordination, administration and control. Supervision and leadership. In nutshell, women entrepreneur are those women who think of a business enterprise,  initiate it organize and combine the factors of production, operate the enterprise,  undertake risk  and handle economic uncertainties involved in running a business enterprise The role of women entrepreneur in economic development is inevitable. Nowadays, women enter not only in selected professions but also in professions like trade, industry and engineering. Women are also willing to take up business and contribute to the nation’s growth. This role is also eing recognized and steps are being taken to promote women entrepreneurship The concept of Women Entrepreneurs may be defined as women or group of women who initiate, organize and run a business enterprise. Women owned businesses are highly increasing in the economies of almost all countries. Women’s empowerment in India is still an illusion. Empowering women entrepreneurs is essential for achieving the goals of sustainable development. The government of India safeguards the interests of women authorizer to bring the effective implementation and utilization of social economic and political status of women in India.

In order to face the problems faced by women entrepreneurs, the Government of India launched the scheme Trade Related Entrepreneurship Assistance and Development of Women (TREAD). The main objective of the scheme is to empower women through development of their entrepreneurial skills by eliminating constraints faced by them in their sphere of trade. This assistance is to be provided for self-employment ventures by women pursuing any kind of non-farm activity. Promoting entrepreneurship among women is certainly a shortcut to rapid economic growth and development.

A successful woman entrepreneur has the attitude and the inner drive to change her dream and her vision to reality. A successful woman entrepreneur should be given proper empowerment that will increase her success with the society. SOCIAL SCHEMES:Women entrepreneurs have achieved remarkable success. The Micro, Small ; Medium Enterprises Development Organisation (MSME-DO), the various State Small Industries Development Corporations (SSIDCs), the nationalised banks and even NGOs are conducting various programmes including Entrepreneurship Development Programmes (EDPs).

To cater to the needs of potential women entrepreneurs, who may not have adequate educational background and skills, MSME-DO has introduced process/product oriented EDPs in areas like TV repairing, printed circuit boards, leather goods, screen printing etc. A special prize to “Outstanding Women Entrepreneur” of the year is being given to recognise achievements made by and to provide incentives to women entrepreneurs. The Office of DC (MSME) has also opened a Women Cell to provide coordination and assistance to women entrepreneurs facing specific problems. There are also several other schemes of the government like the * Income Generating Scheme implemented by the Department of Women and Child Development, which provides assistance for setting up training-cum-income generating activities for needy women to make them economically independent. * The Small Industries Development Bank of India (SIDBI) has been implementing two special schemes for women namely Mahila Udyam Nidhi which is an exclusive scheme for providing equity to women entrepreneurs and the Mahila Vikas Nidhi which offers developmental assistance for pursuit of income generating activities to women.

The SIDBI has also taken initiative to set up an informal channel for credit needs on soft terms giving special emphasis to women. Over and above this, SIDBI also provides training for credit utilisation as also credit delivery skills for the executives of voluntary organisations working for women. * Grant for setting up a production unit is also available under Socio-Economic Programme of Central Social Welfare Board. |