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Women Entrepreneurs Breaking Gender Biases

, April 6, 2022, 0 Comments

women-investors-marketexpress-inInternational Women’s Day is observed on March 8th throughout the world to recognize women’s vital contributions in shaping a more equal and sustainable world. It is a day to reflect upon acts of courage and determination by women who have played significant roles in the history of their nations and communities. It is a worldwide celebration of women’s social, economic, cultural, and political achievements and a call to action for advancing women’s equality.

Women in the present era are attempting to break down various societal barriers which had previously hindered their progress. More and more women are stepping up to challenge society’s assumptions and biases. The transformation of women from a homemaker to an educated, skilled and confident woman is worth celebrating. 

Women in India are revolutionizing the country by advancing into domains that were previously thought to be dominated by males. Entrepreneurship is one such area where women are demonstrating exceptional skills in decision making, resilience, and thoughtful planning. Women are broadening their entrepreneurial horizons by entering into diverse business fields and a fiercely competitive world. They have successfully transformed their ideas into reality and eventually into a profitable business.  Kiran Majumdar Shaw of Biocon, Shradha Sharma of Your Story, Falguni Nayar of Nykaa, and many more are demonstrating that nothing can stop women from pursuing their dreams. Women entrepreneurs have the ability to be India’s most powerful economic force. According to McKinsey, women entrepreneurs can boost the country’s GDP by $770 billion, almost 18% by 2025 if given equal opportunity. They can benefit the economy not just as job seekers but also as job creators. A major boost to the economy is brought by the women in small enterprises who are leveraging technology to reach millions of customers. Entrepreneurship among women is benefiting the economy through increased job creation and is leading to a radical transformation in the social and personal growth of women. 

However, despite the fact that more women are willing to start their own businesses, they continue to face challenges. Despite having the world’s 3rd largest start-up ecosystem India lags behind in female entrepreneurship owing to gender prejudices, lack of education, delayed financial assistance, lack of resources and training which prevent them from exploring their full entrepreneurial potential.  According to ‘Financial Inclusion for Woman-Owned Micro, Small & Medium Enterprises (MSMEs) in India,’ an August 2019 research by the International Finance Corporation, India ranks third among nations reporting gender inequalities in business—only 33% of early-stage entrepreneurs in India are women (IFC). According to the latest IWWAGE study, India ranks 70th out of 77 nations in the Female Entrepreneurship Index. Factors like gender inequality, unequal distribution of assets and power within families, existing preconceptions etc. are causing a negative impact on women’s inclusive growth and development. Women’s social and economic empowerment is crucial for attaining gender equality and the 2030 Agenda for Sustainable Development. It is essential to create equal opportunities for women to earn a living, acquire a feeling of self-worth, better their financial and social position, and establish their independence.

With so many hurdles and biases Indian women are making a name for themselves and excelling in their areas. Women entrepreneurs are demonstrating remarkable resilience in adapting to new market conditions. It is time for women to think beyond the stereotypes that have been imposed on them and seize the possibilities that come their way. This International Women’s Day, let us celebrate the unwavering courage of thousands of women who are breaking through barriers, transforming communities, economies and lives, and playing a crucial role in molding our country’s growth story. This year’s campaign theme is ‘Break The Bias’. Let us work together to overcome the prejudice and eradicate behaviours that cause entrenched social barriers to women’s development in entrepreneurship.

Let us advocate for gender equality and women’s empowerment so that they can thrive in their business endeavors. Collectively, we can celebrate women’s accomplishments and contribute to the creation of a more inclusive world. With so much untapped potential that is still waiting to be discovered, the astounding successes of women entrepreneurs in the country would encourage many more to begin on their own path to success.