Women Entrepreneurs - The Key to Women's Empowerment

Women entrepreneurs play a critical role in India's development. Research by Google and Bain & Company estimates that 13.5–15.7 million women-owned businesses represent 20% of all Indian businesses. The World Economic Forum views encouraging female entrepreneurs as essential to the nation's economic revival. However, businesses run by women do more than boost the GDP.

Empowered women in the world are critical catalysts in society and the family. By altering social mindsets, dismantling prejudices, and fostering more collaborative and inclusive workplace cultures, they contribute to economic development, the eradication of poverty, and women's empowerment.

In India, female entrepreneurs are influencing and transforming the destiny of their communities by:

Raising living standards: Women entrepreneurs increase the amount of money coming into their households. Additionally, they are more likely to raise the standard of living in their community. They enhance the social and economic conditions of their neighbourhood by hiring residents.

Promoting inclusivity and eradicating biases: In comparison with male, female entrepreneurs are more likely to advocate for more significant societal and cultural reforms in gender norms. They lower the obstacles that prevent others from entering the industry, build stronger, more dependable collaborations, and spur longer-lasting improvements. It makes their industries more open to all. According to our research, women make up 75% of the workforce at businesses run by women.

Laying a strong foundation for future generations: Fostering entrepreneurship gives women the means to pay for their children's food and educational expenses and strengthens the next generation. According to research, 65% of female entrepreneurs spend the majority of their income on food and 53% on their children's education, laying the groundwork for future generations to be more educated and healthy. A notable illustration is how women farmers in Telangana and Andhra Pradesh improved their families' meals by constructing watershed projects to create Nutri-gardens.

Empowered women in the world: Women gain more decision-making freedom, mobility, financial independence, a louder voice in the home, and reproductive health empowerment when they contribute to the family's finances. Furthermore, by pushing outside the bounds of their communities, women entrepreneurs serve as examples for other women to follow in their footsteps and achieve financial independence.

Investing in India's future: Women entrepreneurs in India face challenges despite having the ability to stimulate economic and social growth. They battle stereotypes, prejudices, and an environment biased in favour of their male counterparts. Women's business support networks can jointly catalyse women's entrepreneurship in India.

Linda Scott, the author of The Double X Economy, presents a compelling case that women entrepreneurs are crucial to driving economic growth. In addition, a new Boston Consulting Group study finds that if women and men around the world participated equally as entrepreneurs, global GDP could climb by 3% to 6%, expanding the global economy by $2.5 trillion to $5 trillion.

The Gates Foundation identifies women entrepreneurs as crucial for recovering from the economic effects of the pandemic. However, to achieve that aim, we must provide this critical small business demographic with funding and platforms to enable them to expand their reach and effect.