Authors
Yogendra Kumar
Abstract
In India, men usually take lead in the world of business in comparison to women. Women involvement is just 31.6% in comparison to USA (45 %), UK (43 %), Canada (42 %), France (32 %), Indonesia (40 %), Sri Lanka and Brazil both (35 %). Women participation in the entrepreneurial world is less due to different personal, social, financial, marketing, and technological challenges faced by women entrepreneur. These problems need to be addressed so that women can make a significant contribution to the society economic development. Women entrepreneurship in India is attaining significance globally. Currently, in 21st century women entrepreneurship has been well recognized as a source of financial growth. Different studies shows that women entrepreneurship shows a rapid growth over the past 30 years. The main objective of this study is to evaluate the growth of women entrepreneurship by reviewing the literature available and also to scrutinize the different challenges faced by the women entrepreneurs in India. Further in this paper an effort has been done to find the major reason due to which women are unable to work equally to men. Keywords: Entrepreneurship, Women Entrepreneur, India, Challenges
Introduction
Entrepreneurship is the dynamic process of starting an incremental wealth or the process of creating something new with the assumptions of risks and rewards. Definition of entrepreneurship focuses on four basic aspects, i.e. creation process, the devotion of the necessary time and effort, assumption of the necessary risks and rewards of being an entrepreneur (Hisrich, 8, 9). Entrepreneurs basically develop business models with the help of labour, human capital, land and raw materials and also responsible for their achievement and failure. Agarwal and Lenka (2015), cited the Landstrom work, in which he stated that Richard Cantillon first coined the term “entrepreneur” and entrepreneur is defined as an individual who recognizes opportunities and takes risks, to maximize firms’ financial returns.
Entrepreneurship definition is not specific to any gender. In this current era of globalization, women are working equally as men. Sangolagi and Alagawadi, (2016), defined Women Entrepreneurship as an act of business possession which empowers women and economically increases their financial strength and place in society. Women join entrepreneurs group either by choice or by necessities. For self-identity, starting her own business, contributing to the society, for her better and bright future, get economic independence, to gain social status, to prove herself among family members, liberty to take decisions, generation of employment, etc. are few of the reasons why women become entrepreneurs by choice. Whereas job disappointment, necessity, continue her family occupation, support and encouragement from family members, share family financial load, death or sickness of main earner of the family, etc. are few of the reasons why women become entrepreneurs by necessity.
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