Page 39 - Banking Finance June 2024

ARTICLE

activities not only supports their family income but also plays of economic participation. Perhaps for these reasons,
an important role in the economic development and social government bodies, NGOs, social scientists, researchers and
welfare of the society. The importance of women international agencies have started showing interest in
entrepreneurship for economic development is widely issues related to entrepreneurship among women in India,
recognized. India is one of the fastest growing economies so that more and more jobs can be created. Women
and the importance of women entrepreneurship is felt at entrepreneurs generally pursue labour intensive small and
every level. rural industries or handicrafts and have high potential for
employment generation. Therefore, they act as a solution
Changing economic and social role to the widespread problem of female unemployment to
some extent.
Gone are the days when women used to spend their entire
lives within the four walls of their homes. Like their male
Entrepreneurship development helps educated and
counterparts, women nowadays are also writing new stories
uneducated, urban and rural women to acquire skills for both
of unprecedented success with their intelligence and hard
wages and self-employment. The progressive steps along
work. More and more women are expanding their
with the honest efforts and focused focus of women are
entrepreneurial horizons and venturing into unprecedented
helping them to be successful entrepreneurs. Taking
business arenas. The better options now available to women
inspiration from female entrepreneurs, other women are
in the field of employment have been the major driving force
continuously striving towards creating expertise and
for their rise as bureaucrats, professionals and executives.
knowledge for themselves and other women.
They have now started to enter the highly competitive world
Entrepreneurship culture is developed, and qualitative
of business and economic freedom. The fact that such a large
business development services are created. Improving
percentage of them had entered non-traditional sectors
female labour force participation, reducing intolerance and
testifies to women entrepreneurship as a recent
pay gap, and improving practices are important outcomes
phenomenon, which can be supported by the Government
of skill development.
of India's programs and initiatives aimed at restoring women
empowerment in the long run.
As an entrepreneur, a woman entrepreneur has to perform
all the tasks involved in setting up an enterprise. These
Skill Development & Employment functions include idea generation and screening,
Generation: determination of objectives, project preparation, project
An entrepreneurial woman is not only intrinsically motivated analysis, determination of forms of business organization,
to be self-employed but also provides job opportunities to completing promotional formalities, raising funds,
others depending on the scale of her business. In this
dynamic world, women entrepreneurs are an important
part of the global drive for sustained economic growth and
social progress. Due to increasing industrialization,
urbanization, social legislation and spread of higher
education and awareness, the emergence of women-owned
businesses is highly increasing in the economies of almost
all the countries. Entrepreneurial skills are essential for
industrialization and eradication of mass unemployment and
poverty.

Today's women are taking up more and more professional
and technical degrees to cope with the market needs and
are flourishing as interior decorators, exporters, publishers,
apparel manufacturers and are still exploring new avenues

34 | 2024 | JUNE | BANKING FINANCE