Entrepreneurship has always been a challenging field to pursue, but women entrepreneurs have to face additional obstacles such as gender bias and limited access to resources. Despite these challenges, many women in India are breaking stereotypes and carving their path as successful entrepreneurs. Let’s take a closer look at the state of women entrepreneurship in India as compared to the global ratio.
Women Entrepreneurship in India:
India has seen a significant increase in the number of women entrepreneurs in recent years. According to a report by Bain & Company, women-owned businesses in India are expected to grow from 20% to 30% by 2030. In the past decade, women’s participation in entrepreneurship in India has increased from 14% to 20%.
However, despite this growth, women entrepreneurs in India still face several challenges such as gender bias, lack of access to finance, limited networking opportunities, and societal pressure to prioritize family over career. Additionally, women from lower socio-economic backgrounds face additional barriers to entry.
In recent years, the Indian government has taken several initiatives to support women entrepreneurs. The government has launched programs such as the Stand-Up India Scheme, which provides loans to women-owned enterprises, and the Women Entrepreneurship Platform, which offers mentorship, incubation, and funding opportunities.
Global Ratio of Women Entrepreneurship:
Globally, the number of women entrepreneurs has been steadily increasing. According to the Global Entrepreneurship Monitor 2020/2021 report, women’s entrepreneurship rates increased by 2% in 2020, despite the challenges posed by the COVID-19 pandemic.
In terms of the gender gap in entrepreneurship, the report suggests that the gap between male and female entrepreneurship rates is narrowing. In 2020, the ratio of women to men entrepreneurship rates was 0.73, which is the highest it has been in the past five years.
Several countries have taken initiatives to support women entrepreneurs. For example, Canada has launched the Women Entrepreneurship Strategy, which aims to increase the number of women-owned businesses by providing funding, mentorship, and training opportunities. Similarly, the United Kingdom has launched the Women in Innovation program, which offers funding and support to women-led businesses.
Women entrepreneurs in India and globally have made significant strides in recent years. Despite the challenges, women are breaking barriers and establishing successful businesses. However, there is still a long way to go to achieve gender parity in entrepreneurship. Governments and organizations need to provide greater support and resources to women entrepreneurs, particularly those from marginalized communities. Women’s entrepreneurship is not just about creating more jobs or generating more revenue but also about promoting gender equality and empowering women to achieve their full potential.