Top 5 Problems Faced By Women Entrepreneurs in India
Entrepreneurship by itself is a challenging proposition. It is both rewarding and demanding at the same time. However, this hasn’t stopped individuals from taking the plunge. Running an entrepreneurial venture requires a lot of skill and immense patience.
There are financial headwinds, even though there are business loans for women in the form of MSME loan that needs to be taken care of, vendor issues that may derail potential orders and business development that has to be continuous and meticulous.
Managing all of them becomes a nightmare at times. It is also a learning process that provides a lot of knowledge to the individual. Lately, a lot of women have begun to take the entrepreneurial plunge. This article explores the challenges women entrepreneurs face.
Here are the top 5 problems faced by women entrepreneurs in India.
No matter how far society has advanced some things remain the same. Patriarchies to a great extent have been subdued but mindsets have still lingered on. Traditional mindsets will always raise eyebrows when a woman sets out to establish herself in a world of male competence.
Despite all the distance that has been covered in gender equality, business is still considered to be a male bastion, and a female trying to build one is sniggered at.
Lack of Aggression And Assertiveness
While women do not lack the requisite assertiveness, they are not particularly aggressive in their approach. Hence, despite being overwhelmingly talented and capable, they lose out to their male counterparts because of the lack of the killer instinct.
This is more so in the rural areas, where the women have generally been confined in their houses. That is slowly changing, however. More and more women from the urban setup are setting up businesses and moving up the financial ladder.
Lack of Networking
This is again linked to the general mindset of Indian society. It is a known fact that any business, for it to grow, will need to network with a wide range of people. It becomes easy for male business owners to go out and socialize. However, it is still a stigma for women business owners to go out and socialize.
The moment they do, it creates a wrong perception and they may be then ostracised as being “loose”. This has been the bane of Indian society for a long time and still does exist. Even with the opening up of the economy, the Indian society at large is yet to embrace the change. Because of this, women entrepreneurs are unable to spread their wings far and wide and lose out on opportunities that otherwise might have been within their grasp. Lack of networking is also one of the reasons why MSME’s full form of which is Micro, Small, and Medium Enterprises, lose their way.
Family is always a priority for everyone, be it the husband or the wife. However, the social construct of the country is such that it dictates who needs to prioritize what. It is often the responsibility of the woman to look after the house and prioritize the family leaving all else to the husband.
This has been an ancient practice and while it had its merits in the past, modern society is all about working together and camaraderie. The woman after spending all her energy looking after the family will have no energy and enthusiasm to build a business let alone an empire. While this too is slowly changing, it will be a long time before we come to western mindsets.
This is one of the vital features every businessman and woman should possess before embarking on entrepreneurship. Unfortunately, most Indian women lack the business-mindedness needed to create a business. It is a certain shrewdness that is needed to deal with people. One of the reasons is because most women view their effort to build a business as short-term.