Women as Entrepreneurs and Small Business Owners

 

By Disha Sarna

 

Over the past few decades, the rise of women entrepreneurs has been exponential, with women owning 37% of the enterprises globally, according to Harvard Business Review. It also reports that more than 200 million women have been actively participating in entrepreneurial activities and women entrepreneurs have been gaining more traction in the media as well as the financial world. Hence, analysing the various aspects that are important in business management and looking at it through the lens of gender becomes essential. This article is an attempt to understand the recent surge in women entrepreneurs, the challenges they face, the challenges they have overcome, and then talking specifically about the state of women entrepreneurs in India and the many success stories of celebrated women-owned enterprises.

There are around 114% more women entrepreneurs today than twenty years ago according to Business Insider and this rapid boost in the number of women entrepreneurs is a result of a combination of factors. Surveys done by Sarah Thebaud and Harvard Business Review have found that while some women do start a business to introduce a new and unique product into the marketplace and because they want to become an entrepreneurial success, a good majority of women become entrepreneurs as the only alternative to the demands of corporate life. As many women are primary caregivers, they believe that starting their own business gives them a greater sense of autonomy and a more flexible schedule. They also have more control over their future as they can advance more quickly without the gender parity that often accompanies corporate jobs and they can become financially independent without participating actively in the gender status quo. In addition, since they are the ones in power and can choose their employees,  they are at a lower risk to experience workplace harassment. Due to the amalgamation of these factors, many women have started opting for an entrepreneurial lifestyle instead of a corporate one. 

However, this brings about its own set of challenges and issues. One of the most essential resources that any start-up requires is financial investments and a study by Bush and colleagues talked about how women still attract a sparse number of early investors and the study found a staggering gender gap where teams with only men were four times more likely to acquire funds from venture capitalists than teams with even one woman. According to their data, only 2.7% of teams with women acquired funds and 86% of all venture-capitalist funded businesses have no women. Financing is perhaps the biggest challenge that women face. Around 61% of the women entrepreneurs choose to self-finance their businesses, which puts them at a greater risk of financial instability due to the risky nature of business. This leads to more intrinsic motivational and psychological issues where women were 21% less likely to be optimistic about their business performances, 24% more women said that their businesses do not have appropriate marketing strategies for the next quarter and 25% of women entrepreneurs did not believe that they have an effective sales plan for the coming quarter. This kind of lack of confidence stems from the inherent lack of business funds and the fact that they do not have a fallback cushion to support themselves as they have used most of their personal savings to fund their business. Another important challenge that comes up in developing countries is the social stigma that accompanies working women. Women are expected to just be caregivers and when they step outside of this presupposed image, they are met with excruciating opposition and must face several social challenges like lack of support from family, biases of clients, biases of suppliers to start and continue their business. 

India provides an interesting case study when it comes to the challenges faced by women entrepreneurs. In a study conducted by researcher Malika Das, it was found that women entrepreneurs in India face issues concerning cash flow, inadequate capital, product quality, employees, marketing, time management and family issues. At the same time, when it comes to work-family conflict, most women saw an increase in the quality of relationship with their spouse and at the same time a higher conflict with their role as a homemaker. This could be because of the increased financial stability gained from the business and the reduced availability of free time. Another interesting point that Atanu Sengupta and colleagues raise is how the managerial decisions made by women are highly dependent on family desires, which hinders the entrepreneurial talent that women may possess. Additionally, due to the extent of the informal sector in India, many women-owned businesses are not registered formally. Small women-owned businesses like those selling handmade handicrafts, suits and traditional products are usually not registered as businesses and this limits the recognition that women get as entrepreneurs as most of them do not own businesses as far as legalities are concerned. 

Despite these challenges, India has its fair share of success stories. Falguni Nayar started Nykaa in 2012 as a retail business focused on beauty and wellness products. The company has overcome many challenges, including the issue of funding and raised 13 million dollars at a valuation of 1.2 billion dollars in the last round of funding in 2020 and it has earned the status of a ‘Unicorn Startup’. The company made a profit of Rs. 1200 crores in the financial year 2019 and crossed Rs 1800 crores in the financial year 2020. The company is also expected to list their initial public offering (IPO) in the Indian stock market to expand its business. Kiran Mazumdar-Shaw is the executive chairperson of Biocon who founded the company in 1978 as a pharmaceutical company. Biocon specialises in enzyme and clinical research and is now operational in 120 countries and is finding ways to treat cancer, diabetes and autoimmune diseases in an affordable manner. The company now has a market cap of 4.4 billion dollars and Mazumdar-Shaw is the recipient of a Padma Shri amongst the other numerous accolades that she has achieved. 

Thus we can see how women are becoming an integral part of the entrepreneurial scenario across the world and despite facing numerous challenges, many women have persevered and are owners of successful and global businesses. 

 

References 

  1. Leitch, C., Welter, F., & Henry, C. (2018). Women entrepreneurs’ financing revisited: taking stock and looking forward. Venture Capital, 20(2), 103–114. doi:10.1080/13691066.2018.1418624 
  2. Sengupta, A., Datta, S. K., & Mondal, S. (2015). Female entrepreneurs in the Indian informal service sector: a study based on Leibenstein’s approach. International Journal of Entrepreneurship and Small Business, 26(2), 171. doi:10.1504/ijesb.2015.071823 
  3. Das, M. (2000). Women Entrepreneurs from India: Problems, Motivations and Success Factors. Journal of Small Business & Entrepreneurship, 15(4), 67–81. doi:10.1080/08276331.2000.10593294 
  4. Biocon. (2021, June 8). Kiran Mazumdar Shaw – Executive Chairperson. https://www.biocon.com/about-us/board-of-directors-biocon/kiran-mazumdar-shaw-biocon/
  5. Castrillon, C. (2019, February 4). Why More Women Are Turning To Entrepreneurship. Forbes. https://www.forbes.com/sites/carolinecastrillon/2019/02/04/why-more-women-are-turning-to-entrepreneurship/?sh=1f7da482542a
  6. Colitco. (2021, January 29). Success Story of Nykaa and the Inspirational Founder ‘Falguni Nayar.’ https://colitco.com/company/success-story-of-nykaa-founder-falguni-nayar/
  7. The Global Rise of Female Entrepreneurs. (2014, August 20). Harvard Business Review. https://hbr.org/2013/09/global-rise-of-female-entrepreneurs
  8. Guest, F., Gross, E. L., Forbes Press Releases, Karmali, N., Bahree, M., Gross, E. L., Kelly, L., Forbes In The News, Bahree, M., Rapoza, K., Inverso, E., Karmali, N., Herper, M., & Karmali, N. (2020). Biocon. Forbes. https://www.forbes.com/companies/biocon/?sh=3cce25128d67
  9. Lebowitz, S. (2021, January 5). There Are 114 Percent More Women Entrepreneurs Than 20 Years Ago and It’s Not Necessarily a Good Thing. Inc.Com. https://www.inc.com/business-insider/more-women-entrepreneurs-today-than-20-years-ago-its-troubling.html
  10. OnDeck Capital. (2019, October 25). Challenges Facing Women-Owned Businesses. OnDeck. https://www.ondeck.com/resources/challenges-facing-women-owned-businesses
  11. Sarkis, S. (2019, March 6). Gender Inequality Led to the Rise of Women Entrepreneurs. Forbes. https://www.forbes.com/sites/stephaniesarkis/2019/03/05/gender-inequality-led-to-the-rise-of-women-entrepreneurs/?sh=2476e1f54374
  12. Thébaud, S. (2015). Business as Plan B. Administrative Science Quarterly, 60(4), 671–711. https://doi.org/10.1177/0001839215591627
xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonxosofutebol ao vivofutemaxmulticanaisonbethttps://bsport.fithttps://onbet88.ooohttps://i9bet.bizhttps://hi88.ooohttps://okvip.athttps://f8bet.athttps://fb88.cashhttps://vn88.cashhttps://shbet.atbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88
 

Your browser is out of date. It has security vulnerabilities and may not display all features on this site and other sites.

Please update your browser using one of modern browsers (Google Chrome, Opera, Firefox, IE 10).

X