Business is built around human capital and presently women are one of the valuable factors. Globalization and Liberalization of market encouraged women to come forward to become entrepreneur and start new business enterprises for their livelihood and Job generation for others.
In India firstly women are considered to be only for household works as a mother and housewife for their family members. Presently the role of modern women is not restricted to the traditional role of being at home only to take care of the members; it has changed and undergoing to be changed dynamically. Women with inspired and inventive ideas are coming forward to start the small and medium size business which they can operate from their Home as well and can fulfill their household obligations as well.
In simple words Women entrepreneurship is the process where women organize all the factors of production, take risks, and provide employment to others. The definition of women entrepreneurship has never been differentiated on the basis of sex and hence could be extended to women entrepreneurs without any restrictions.
Women Entrepreneurs may be defined as the women or a group of women who initiate, organize and operate a business enterprise for their earning and to generate further employment. The Government of India has defined women entrepreneurs as an enterprise owned and controlled by women having a minimum financial interest of 51 per cent of the capital and giving at least 51 per cent of the employment generated in the enterprise to women.
Women entrepreneurs engaged in business due to push and pull factors which encourage women to have an independent career and earn from their own knowledge and hard work. A sense towards independent decision-making on their life and career is the motivational factor behind this urge. Saddled with household chores and domestic responsibilities women want to get independence and want to utilize their free time or education. Under the influence of these factors the women entrepreneurs choose a profession as a challenge and as an urge to do something new. Such a situation is described as pull factors. While in push factors women engaged in business activities due to family compulsion and the responsibility is thrust upon them i.e. earning livelihood for the family in absence of any male person in the family or Death of Bread Earner.
According to online studies conducted earlier this year for rankings on the best places for female entrepreneurship, India went up on the list compared to its position in 2013. India’s female entrepreneurship environment exposes statistics of improvement with respect to women finding opportunities to start ventures (60%), validation with respect to skills (52%) and do not feel the impending doom of failure for their startup (57%).
Here’s a list of some successful young women entrepreneurs of Young India that have made a mark in the startup ecosystem: -
One major key feature of all successful Indian women entrepreneurs is that they have a clear vision and motivation for their business. They find a niche in a particular market and find a correct way to fill it properly. They give life to their business by being focused on their vision and able to bring new product or service to the market, which actually becomes a strong and positive factor for the success of their business enterprise.
