Modern times have witnessed an array of changes in societal activities. Among them the most significant and pertinent is woman liberation and empowerment. Modern women have traded into almost all spheres and have proved themselves which were previously the exclusive domain of their male counterparts. Endowed with famous female institution that helps them make the right choices even in situations where experience and logic fail, women have innate flair for entrepreneurship.
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They are natural networks and relationship builders, forging powerful bonds and nurturing relationship with clients and employees alike.
They are more inclined to seek out mentors and develop supportive teams. Women entrepreneurs need to be landed for their increased utilization of modern technologies increased investment, finding a niche in the export market creating a sizable employment for others and setting the trend for other entrepreneurs in the organized sector.
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Gender equality and economic development go hand in hand. The emergence of women entrepreneurs and their contribution be national economy is quite visible in India. They now constitute around 10% of the total number of entrepreneurs with a rapidly increasing trend.
The growing recognition that the women have unique talents which could be harnessed for development, and for creating employment opportunities for others who are not suited to an entrepreneurial career, developing women as entrepreneur has become an important and integral part of national development planning and strategies.
With corporate eager to associate and work with women owned business and a host of bands and NGOs keen to help them get going, there has rarely been a better time for women with zeal and creativity to start their own business.
Concept of women Entrepreneur
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The woman or a group of women who initiate, organize, and operate a business enterprise is known as women entrepreneur. A women entrepreneur has to perform all the activities involved in establishing an enterprise. These include idea generation and screening, determination of objectives, project preparation, product analysis etc.
1. According to Frederick Harrison:
“Any woman or group of women which innovates, imitates or adapts an economic activity may be called woman entrepreneurship”.
2. According to Government of India:
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“A woman entrepreneur is defined as an enterprise owned and controlled by a woman and having a minimum financial interest of 51 percent of the capital and giving at least 51 percent of the employment generated in the enterprise to women”.
3. According to J. Schumpeter:
“Woman who innovates, imitates or adopts a business activity is called woman entrepreneur”.
The term woman entrepreneur signifies that section of female population who venture out into industrial activities i.e. manufacturing, assembling, job works, repairs/servicing and other business.