Page 43 - Banking Finance June 2024
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ARTICLE
It is important to continue to address the barriers faced by the growth of women entrepreneurship in India. These
women entrepreneurs to create a more inclusive and equal include changing the social attitude towards women
society. Providing education, finance and mentorship can entrepreneurs.
help empower women entrepreneurs and enable them to
achieve their full potential. By promoting and supporting Despite the challenges faced by women entrepreneurs in
women entrepreneurs, India can become a valuable source India, the government has taken steps to support their
of economic growth and innovation. growth through various policies and schemes. These
initiatives include financial assistance, skills development and
Education is an important factor in the development of training opportunities, and networking and mentorship
women entrepreneurship in India. Education plays a vital programs. However, there is still much work to be done to
role in empowering women entrepreneurs with the encourage women to overcome barriers and become
knowledge and skills required to succeed in the business successful entrepreneurs who can contribute to the growth
world. Another major hurdle for women entrepreneurs in of India's economy while achieving self-reliance.
India is access to finance. Lack of collateral, property
ownership and credit history are some of the factors that Conclusion:
hinder women from accessing financial assistance. There is Promoting women empowerment and entrepreneurship is
a need to speed up the efforts being made by the
essential for an equitable social and economic development.
government to remove these.
Empowering and enabling women improves health
outcomes, increases economic growth, reduces poverty and
The government has taken initiatives to promote and
creates jobs. However, women face many challenges that
support women entrepreneurship through various schemes
hinder their ability to contribute fully to society. Tackling
and programmes. These schemes have helped many women
these challenges requires a concerted effort by individuals,
entrepreneurs to set up their businesses and contribute to
communities and governments. Only by working together,
the economy.
we can create a more equitable world for all. Women
entrepreneurs are fast becoming a force in the business
The Government has recognized the important role that
world and they are getting into business not only to survive
women can play in achieving sustainable and inclusive
but also to fulfill their inner desire of creativity and prove
development. To promote women entrepreneurship and
their capabilities. Women Entrepreneurs are contributing to
economic empowerment, the government is trying to help
social and economic development to a great extent and the
women through various initiatives aimed at improving
future will see more women stepping into fields traditionally
women's access to education, health care, financial services
dominated by men.
and other resources.
A democratic economy depends on the participation of both
However, more needs to be done to address the challenges sexes. Today, women account for more than 25 percent of
faced by women entrepreneurs, such as access to finance, all businesses in advanced market economies and women-
lack of training and guidance, and social barriers. owned businesses are growing rapidly around the world.
The data show that women have economic clout - most as
Various measures can be taken to promote the entrepreneurs and most powerfully as consumers. The entry
development of women entrepreneurs in India. These include of women in fields like entrepreneurship and business
increasing access to education, creating awareness about administration has a positive impact on the society. Women
the potential of women, building entrepreneurial skills have proved that they can also create and distribute wealth
through training and mentoring programmes, and providing in the society and provide employment like any other
financial support through government schemes and entrepreneur.
subsidies.
References:
Several additional steps can be taken to further encourage https: msme.gov.in
38 | 2024 | JUNE | BANKING FINANCE