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
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