Women Empowerment
The contemporary Indian woman is no more in a want-based environment significantly. Taking the forefront in entrepreneurship is now a matter of preference and women are no more restricting themselves to specific sectors but their ingenuity and skill span across sectors –starting from traditional sectors such as handicrafts and textiles,agro-products, food processing, women entrepreneurs are currently venturing across sectors such as agro-products, hospitality, BFSI, real estate development, ITES, Pharmaceuticals, tourism, etc.
Women Contribution in Indian Ecosystem India has originated as one of the fastest developing start-up ecosystems in the world. 11% of the adult population of India is directly involved in early phase entrepreneurship. The part of women entrepreneurs in the contemporary start-up ecosystem is also rising steadily. As per the Sixth Economic Census issued by the Ministry of Statistics and Programme Implementation, around 14% of the overall entrepreneurship i.e. 8.05 million out of 58.5 million entrepreneurs in our country, was constituted by women. Moreover, the role of women in non-agriculture sector counts about 65% of all women entrepreneurs, adding up to 5.29 million women!
Still, some main challenges confronted by them include:
Talent: Finding women talent with needed training and experience to scale and run a business.
Technology: Female entrepreneurs’ worldwide connectivity by means of social media and internet.
Culture: The prevalence of pertinent mentors, role models, and networks.
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Job Creation: Startups Starting Up!
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Importance Of Technology For SMEs
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Importance Of Digital Economy
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The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
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ROLE OF WOMEN ENTREPRENEURS IN INDIA – THEN AND NOW
As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.
TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES
Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.
