For women to be successful as entrepreneurs, the system needs to be restructured to retain women, not just give them access.

woman entrepreneurs

According to a 2020 World Bank report, women make up only 19.9% of India’s workforce. Several factors contributed to this low number, including the woman’s social expectations of a “place of home” as the primary caregiver. More stigma when you have to work outside the home. This is a sign that the husband (main means of subsistence) cannot support the family.

Other factors include differences in wages between men and women and a lack of company recommendations for workplace safety. Research shows that women’s labour force participation has declined steadily over the past decades, but the outbreak of COVID-19 is only exacerbating the situation.

According to a study by the Delhi government at the Centre for Marketing Research and Social Development, the pre-COVID female unemployment rate was 25.6%. In fact, from October to November 2020, this figure rose from 23.2% for men to 54.7%.

When women are given equal opportunities to play, they can make a significant contribution to the economy. Currently, the contribution of women is only 18%, compared with the global average of 37%. According to the McKinsey Global Institute, India could add $ 770 billion to its GDP by 2025 if women are given equal opportunity.

According to a joint Bain report, women entrepreneurs (WE) have played a very important role in the economy, creating between 150 million and 170 million jobs, which is a quarter of the new jobs that the entire working-age population will need by 2030. 1 or more files.

However, we faced significant challenges, including gaps in financial understanding and resources, marketing, manufacturing, technical and sociocultural obstacles, and desperate families looking to pursue more traditional careers.

Promote entrepreneurship

Nagma Mulla, CEO of the EdelGive Foundation, told SocialStory, “We need to hold on and move. When it comes to bringing multiple stakeholders together, this has to be a systematic approach.The EdelGive Foundation, a non-profit initiative of the Edelweiss group, is an organization that supports small and medium sized NGOs working with children, women and vulnerable communities.

The UdyamStree Foundation initiative highlights the need to promote women’s entrepreneurship through communication, collaboration and participation so that Indian women can become successful women entrepreneurs.UdyamStree’s recent Women’s Entrepreneurship Survey is a comprehensive 13-country study that examines the health, social and economic security and well-being of the WE family.

She notes that about 80% of women from peri-urban and rural areas of India have seen a significant increase in their socio-economic and cultural status after starting a business.

However, the results of this report present some problems. About 70% of WE respondents believe that homework is still their primary responsibility. In fact, becoming a husband or another family is contrary to their “values.” I couldn’t expand my business because I didn’t have enough time after taking care of my home. In addition, less than 20% of people are confident in using public transport.

When asked whether financial independence influenced domestic violence, 66% responded that there were no measurable incidents. Of the remaining 34% of women who said they had experienced domestic violence, two-thirds believe that domestic violence has increased or remained unchanged.

All WE families in the United States admit to being consulted, and about two-thirds (65%) said they fully support the idea of starting a business.

But the good news is that as they become financially independent, 43% believe they can decide where to get treatment for their illness, and 36% believe they have a say in how many children they want. …

“What you see in the reports has been around for a long time. We know every year that financial independence is very helpful for women to access and understand women’s rights so that they can protect what they have won.

Reform Approach

In terms of existing policies to help women, Nagma believes that India is at the forefront of this game.

Some of the most advanced laws and guidelines for women come from India. Domestic Violence Against Women Act or POSH (Women’s Act 2013 [Prevention, Prohibition and Appeal)]] or program. MUDRA. We were terrible. We found that less than 11% of women knew about this program and only 1% used it. “

The report identifies specific requirements in different countries, develops and implements appropriate programs, promotes the products of women entrepreneurs under a common brand with tax benefits, and provides training in interpersonal skills, including accounting, human resource management and communication. Analysis is recommended.

They also need to implement community awareness and moral support initiatives, and develop mentoring programs at the local level to help budding entrepreneurs formalize and expand their businesses.

“We’re not just talking about charity here. We say that the system, whether it is a source of raw materials, a partner agency or funding, has so far been developed by men with a masculine mindset. Nagma had no momentum when he was 15-20 years old.

added that she hopes the fund will build on that momentum as companies rethink decisions about giving women access to infrastructure.

Unfortunately, when women retire or WE stop business, women return to what they were 10 and a half years ago.

We solve this problem; we are so distracted that our chances of seeing are very important. With this in mind, we need to recover. Reducing the gender gap to 25% could create over 120 million jobs. The difference is so great that even small changes can mean a long journey. “He added.

Recover to save: Providing women with equitable opportunities requires a holistic approach that includes community, stakeholders, market access, financial support and mentoring for women.

Nagma believes that mentoring is key for both men and women and allows for the distinction between medium and high success. Finally, the report highlights the need for investment in adaptation.

For example, according to Nagma, self-help groups (SHGs) need to be active on a wider scale so that women can access markets and networks.

We have had great success with SHG and there are several main reasons for this. One of the reasons women do not have access to opportunities is intellectual isolation, exclusion from decision-making, and the second assumption whether they are doing what they are doing right. About the idea of KSM. The exchange proposes to build confidence: There is also a sense of invested capital and risk taking, he explained.

She added that SHG is rooted in a regional context. Thus, the decisions you make for your business are also highly dependent on your life.

Many solutions for women do not work because, with all the diversity, they create this great structure without taking into account reality. Women in one country have to go out and earn a living, while in another country they may face the opposite situation.” “It’s submission and alienation,” he said, but if we don’t understand where it came from, our choices cannot be contextualized and will not work.

To redesign the system with women in mind, we need to protect women and also get them to intervene. He concluded that this is a very simple version of what is included in the report.