Women Empowerment is the change that every society in the world is witnessing. In past, there was a huge male dominance in different sectors. Most women depend upon their male counterparts for their financial needs. But in past few years, there has been a shift in this whole picture. Women Entrepreneurs is one such thing that has helped in changing this picture. Entrepreneurship refers to starting up a new business or reviving an older one in order to earn the profit as well as seeking new opportunities. It is a crucial factor in determining the development of any country. The need for entrepreneurship has been recognized as the major factor of growth in an economy. As the number of entrepreneurs is increasing in an economy the growth rate is increasing with an increase in employment and thus helps in the economic growth of the country. Many countries have begun to realize that for achieving the goal of economic development, it is necessary to encourage Women Entrepreneurs. This will not only empower them as well help in the growth of the economy by generating more and more employment. But there are a few hurdles that seem to stumble them and make their journey difficult.
Some of the problems faced by Women Entrepreneurs are:
• Family Restrictions
The woman has to perform multiple roles and responsibilities associated with her family. It is mainly a women’s duty to look after the children and other members of the family. It is considered as if she doesn’t have a life beyond her family.
• Financial Issues
Finance is the backbone of any enterprise. Any enterprise does need money to carry out their production along with growth in their business at the same time. women do not generally have property or any assets registered on their names so they can’t use them as collateral for obtaining funds from banks or any financial organization. Inadequate knowledge about finance and legal procedures of banks or any financial organization also make it worse. Without funds, no business can survive in this competitive market.
• Male Dominated Society
This is a major concern that mentally affects a woman. Due to this, most women drop the idea of being an entrepreneur without giving it a second thought. They are dominated by men in her family as well as in outside world like workplaces. They are not treated as equals. She always has to consult and get the approval of men before taking any major decision. Lack of self-confidence and faith in self-results that they sabotage their dreams with their own hands.
In addition to above problems, inadequate infrastructural facilities, shortage of power, the high cost of production, corruption in providing incentives or any financial aid by the government, orthodox thinking of the society etc. refrain the Women Entrepreneurs from starting their own business.