Women Entrepreneurship is both about Women pose in society and the role of Women Entrepreneurship in the same society. Women are faced with specific obstacles (such as family responsibilities) that have to be overcome in order to give them access to the same opportunities as men. Also, in some countries, women may experience obstacles with respect to holding property and entering contracts. Increased participation of women in the labour force is a prerequisite for improving the position of women in society and self-employed women.
The role of Women Entrepreneur needs to be considered in the economic development of the nation for various reasons.
Women Entrepreneur has been recognized during the last decade as an important untapped source of economic growth. Women Entrepreneurs create new jobs for themselves and others and by being different also provide society with different solutions to management, organization and business problems as well as to the exploitation of Women Entrepreneurial opportunities. However, they still represent a minority of all Women Entrepreneurs. Thus there exists a market failure discriminating against Women possibility to become Women Entrepreneurs and their possibility to become successful Women Entrepreneurs. This market failure needs to be addressed by policy makers so that the economic potential of this group can be fully utilized. While without a doubt the economic impact of women is substantial, we still lack a reliable picture describing in detail that specific impact. Recent efforts initiated by the OECD (1997, 2000) are responses to this lack of knowledge and have focused the attention of policy makers and was on this important topic.
Women Entrepreneurship has been largely neglected both in society in general and in the social sciences. Not only have women lower participation rates in Women Entrepreneurship than men but they also generally choose to start and manage firms in different industries than men tend to do. The industries (primarily retail, education and other service industries) chosen by women are often perceived as being less important to economic development and growth than high-technology and manufacturing.
Furthermore, conventional research, policies and Proposals tend to be “men streamed” and too often do not take into account the specific needs of Women Entrepreneurs and would-be Women Entrepreneurs. As a consequence, equal opportunity between men and women from the perspective of Women Entrepreneurship is still not a reality. In order to realize the benefits of policy changes it is important to incorporate a Women Entrepreneurial dimension in considering all SMEs and growth policies (e.g. meeting Women financing needs at all stages of the business continuum; take-up of business development and support services; access to corporate, government and international markets; technology access and utilization; R&D and innovation; etc.). Moreover this means periodically evaluating the impact of these measures on the success of women-owned businesses and exchanging good models and best practices, through cooperation with leading international organizations such as the OECD, European Union, APEC, UNCTAD and the ILO, in order to continually improve policies and Proposals.
Better qualitative information and quantitative data and statistics are required to profile Women Entrepreneurs (demographic information, barriers to start-up and growth). This would also assist in promoting awareness of the role of Women Entrepreneurs in the economy. Using a frame of reference such as that developed in the report could be valuable for the analysis of this information.
It is observed that Women Entrepreneur networks are major sources of knowledge about Women Entrepreneur and they are increasingly recognized as a valuable tool for its development and promotion. Policy makers must foster the networking of associations and encourage co-operation and partnerships among national and international networks and facilitate Women Entrepreneurial endeavors by women in the economy.
The challenge of world class competition and the attempts at globalization and Liberalization has tremendously altered the business environment of firms in India. In contributing to the working of any firm in India, be as a policy maker or as a person doing business with a firm in India or as a marketing practitioner or as an academician, it is important to understand how practically the firms have taken measures to combat the onslaught of these challenges.
What new turns have been made in the actual working system of Women Entrepreneur? In other words, an understanding of the exact nature of the paradigm shifts in small and medium enterprises.
That is, from the point of view of an individual firm in India, how the challenge of the shifting economic environment been perceived and what new efforts have been adopted towards managing these challenges?
From the above passages, it is worthwhile to mention the major recommendations contributed by the researchers from the wide-ranging study about Women Entrepreneur were summarized below:
- Increase the ability of women to participate in the labour force by ensuring the availability of affordable child care and equal treatment in the work place. More generally, improving the position of women in society and promoting Women Entrepreneurship generally will have benefits in terms of Women Entrepreneur.
- Listen to the voice of Women Entrepreneurs. The creation of government offices of Women business ownership is one way to facilitate this. Such offices could have programmed responsibilities such as providing Women business centres, organizing information seminars and meetings and/or providing web-based information to those wanting to start and grow a business.
- Incorporate a Women Entrepreneurial dimension in the formation of all SME-related policies. This can be done by ensuring that the impact on Women Entrepreneur is taken into account at the design stage.
- Promote the development of Women Entrepreneur networks. These are major sources of knowledge about Women Entrepreneur and valuable tools for its development and promotion. Co-operation and partnerships between national and international networks can facilitate Women Entrepreneurial endeavors by women in a global economy.
- Periodically evaluate the impact of any SME-related policies on the success of women-owned businesses and the extent to which such businesses take advantage of them. The objective should be to identify ways to improve the effectiveness of those that should be retained. Good practices that are identified in this way should be disseminated and shared internationally.
- Improve the factual and analytical underpinnings of our understanding of the role of Women Entrepreneurs in the economy. This requires strengthening the statistical basis for carrying out gender-related cross-country comparative analyses and longitudinal studies of the impact of important developments and policies, especially over time.
- Women Entrepreneur is dependent on both demand side (political and institutional framework, family policy and market sources) and supply side factors (the availability of suitable individuals to occupy Women Entrepreneurial roles).
- Women Entrepreneur depends on both the situation of women in society and the role of Women Entrepreneurship in that same society. Both the factors that affect the gender system and the factors that affect Women Entrepreneurship in society are involved.
In a nutshell, the Specific obstacles to Women Entrepreneur are: type of education, lack of role models in Women Entrepreneurship, gendering of Women Entrepreneurship, weak social status, competing demands on time and access to finance. Hence ,Women Entrepreneur must be examined both at the individual level (i.e. the choice of becoming self-employed) and at the firm level (the performance of women owned and managed firms) in order to fully understand the differences between men and Women Entrepreneur, since they play an effective role for contribuing a mite to the economic development of the country.