Rise of Female Entrepreneurs in India

Explore the rise of female entrepreneurs in India, their challenges, success stories, and how they are shaping the business landscape.

India's startup ecosystem is currently ranked third in the world. It is expanding rapidly, and women entrepreneurs are the main contributors to its growth. Women are now managing the entrepreneurial landscape and bringing major changes. By encouraging female entrepreneurship, India will only grow and experience an economic boost in the future. Let us first understand the types of women's entrepreneurship, how it works, its benefits, and how women can make their mark in the business industry.

What are the different categories women entrepreneurs are classified into?

There are different types of women entrepreneurship in the business industry. They are:

• Solo entrepreneurs:

They are the ones who start a business on their own, without any financial support.

• Co-founders:

Business partnerships where more people are involved in the ownership and decision-making of the business.

• Social entrepreneurs:

The ones who are focused on social change and their business is associated with causes like education, healthcare and women empowerment.

• Home-based entrepreneurs:

They run their business from home, which usually involves small-scale production.

• Corporate or affluent entrepreneurs:

They start business ventures within established corporations, leading innovation in their respective industries.

What are the challenges faced by female entrepreneurs in India?

Women entrepreneurs face multiple challenges in the business industry. They are as follows:

• Many women face limited funding opportunities due to biases in the investment ecosystem.
• Societal expectation often becomes a challenge for a woman trying to juggle work and personal commitments.
• Lack of networking opportunities makes it difficult for women to access influential networks.
• Women often face scepticism in their ability to run a business, making gender bias tough to get investors on board.
• Lack of awareness of business regulations can become a big hurdle for first-time entrepreneurs.

How to promote women entrepreneurs in India?

There are various ways to empower women entrepreneurs in India, this includes:

• Government initiatives and schemes:

Numerous schemes like the Mudra Yojana, Stand-up Indian and women-focused schemes like the Women Entrepreneurship Platform (WEP) can help support business.

• Technological developments in online businesses:

With the digital revolution, women can start and manage online businesses easily. From outsourcing and digital payments to shipping and delivery, the process of running an online business is simple and easy.

• Social recognition of women in leadership roles:

Seeing other women succeed motivates aspiring entrepreneurs to follow their dreams.

• Providing better access to education:

With skill-based training programs, women gain the knowledge to successfully start and run a business.

Also read: Why are startups flourishing in India?

Notable female entrepreneurs in India

Some of the most renowned female entrepreneurs in India are:

• Kiran Mazumdar Shaw founded Biocon, India's leading biotechnology firm.
• Falguni Nair, the founder of Nykaa, an online shopping platform for beauty and wellness.
• Vineeta Singh, CEO of Sugar Cosmetics, a rapidly expanding beauty company.
• Upasana Taku, co-founded MobiKwik, a mobile wallet and payment service provider.
• Richa Kar, founded Zivame, an online lingerie business that transformed the industry.

How can aspiring female entrepreneurs start a business in India?

Mentioned below are the steps to get started with your business as an aspiring female entrepreneur in India:

Step 1:

Identify your business idea by choosing a niche based on your passion, market demand, and skills.

Step 2:

Create a business plan by outlining your goals, target audience, revenue model, and marketing strategy.

Step 3:

Secure funds by exploring government grants, bank loans, angel investors, or crowdfunding platforms.

Step 4:

Build a strong network with mentors, industrial leaders, and other entrepreneurs to gain inside and support.

Step 5:

Leverage technology and use digital tools, social media, and e-commerce sites to grow your business.

Step 6:

Be ready to face challenges learn from failures and keep improving your business strategies.

Also read: How to Start a Business in India

Conclusion

The rise of female entrepreneurs in India is a testament to the creativity and determination of women. For women entrepreneurs, seeking a professional and collaborative workspace is very important. WeWork workspaces provide an ideal environment with premium amenities networking opportunities and a community of like-minded working professionals that can help women entrepreneurs to collaborate and grow their businesses.

FAQs

1. Why is women entrepreneurship important in India?

Women entrepreneurship is important for economic development, job creation, and general equality. It encourages women to be financially independent and contribute to India's economy.

2. What are some challenges faced by women entrepreneurs in India?

Some of the challenges faced by women entrepreneurs include limited access to funding, gender bias, lack of networking opportunities, and balancing family life with business demands.

3. Who are some successful female entrepreneurs in India?

Popular women entrepreneurs in India include Kiran Mazumdar Shaw (Biocon), Falguni Nair (Nykaa), Vineeta Singh (Sugar Cosmetics), Richa Kar (Zivame) and Upasana Taku (MobiKwik).