How to encourage female business leaders to pursue their entrepreneurial goals
06 Jan 2023
How to encourage female business leaders to pursue their entrepreneurial goals
A new generation of entrepreneurs are now driving the economic expansion of India as a result of the country's thriving startup ecosystem. Positive mentality shifts have taken place, and people are now prepared to become job producers rather than job seekers. With the support of technology and creativity, increased internet usage and the accessibility of smartphones have made it possible for anyone to go on an entrepreneurial path to address current issues and improve society.
One notable development among many positive effects is the increase of female entrepreneurs who are quickly seizing the spotlight in the nation's entrepreneurial environment.
While it is encouraging to see more women in business leadership roles breaking down barriers, it is crucial to make sure that this upward trend is unhindered and that everyone has equal access to opportunities and resources in order for India to quickly become the world's largest hub for entrepreneurs and the startup ecosystem.
Various industry reports have also noted the rise of female entrepreneurs. According to Nasscom, the percentage of women-led startups in India increased from 8% to 13% between 2014 and 2019. In addition, a recent poll found that over the past five years, the number of women-owned enterprises in India has climbed by over 20%. This rate is higher than the 10% growth of firms owned by males.
Eliminate prejudice.
In addition to overcoming the obstacles that every entrepreneur faces, ladies walk with an extra baggage of biases that slows their pace in their career growth. Men are predisposed to assume leadership positions in families, whereas women must work harder to get past obstacles. Develop your leadership skills and use them to succeed in business.
As a result of pre-existing prejudices, such as being overly sensitive or emotional in trying circumstances, they also lack access to markets, funding, and groups. Collaboration is required on both a personal and cultural level to support women and eliminate biases. Programs for raising awareness and reducing prejudice at all levels can help to further spur progress and motivate women in business to perform better.
Ability, upskilling, and retraining
To stay on top of the game, female entrepreneurs must constantly improve their skills. They must receive all the assistance they require, including digital literacy training, which is urgently needed, as well as business training and soft skills like leadership, decision-making, and communication skills. To make them more competent, they must receive help with business development and other services through workshops and training.
Taking advantage of the growth of internet businesses
E-commerce has increased in India, enabling women to sell goods from any location, at any time, both domestically and internationally. They must become more technologically knowledgeable or digitally friendly in order to take full advantage of online marketplaces and capitalise on the explosion of online opportunities.
This gives female entrepreneurs a fair playing field and offers many opportunities for them in a variety of industries, including agriculture, healthcare, and education, among many others.