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Lack of sufficient funds biggest roadblock for women entrepreneurs: Survey

The survey also revealed that these women wanted to start their own venture to either gain financial independence (64 per cent), or an identity of their own (54 per cent).

Devika Singh | January 3, 2019 | Updated 22:28 IST
Lack of sufficient funds biggest roadblock for women entrepreneurs: Survey

While most home-makers in the country aspire to start a business of their own, lack of financial funding proves to be a major roadblock for them, highlights the findings of a recent survey conducted by Nielsen for Britannia.

According to the survey, nearly half (48 per cent) of Indian homemakers had dreams and aspirations to start a business or pursue a hobby to make money when they were young. However, 69 per cent of them cited that they could not pursue this due to lack of financial funding.

The report is based on a survey, which was conducted among 1267 non-working housewives in cities of Delhi, Lucknow, Mumbai, Pune, Kolkata, Asansol, Chennai, and Coimbatore in the age group of 25-45 years belonging to NCCS A & B.

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The survey revealed that 1 in 2 Indian homemakers had dreams and aspirations to be financially independent when they were young but couldn't follow it through due to various reasons. While lack of funds was cited most often as the reason (69 per cent), 63 per cent said home responsibilities, 39 per cent said lack of guidance and 36 per cent reported lack in confidence as their reasons for not starting their businesses.

These women mostly aspired to start small businesses such as tailoring (36 per cent), beauty parlours (28 per cent), opening a boutique or shop (26 per cent) and home tuitions (20 per cent). When asked what they would need most to start a business of their own, most of the women said they needed financial support (62 per cent), while 51 per cent said they needed counselling to develop self confidence.

The survey also revealed that these women wanted to start their own venture to either gain financial independence (64 per cent), or an identity of their own (54 per cent).

The social milieu of India is not very supportive of women entrepreneurs as it requires more time and resources than a 9-6 job. Therefore, while gender ratio at workplace though skewed is improving gradually, and very few women still opt for entrepreneurship route.

According to data from the Sixth Economic Census, the total number of establishments owned by women entrepreneurs is 8.05 million (13.76 per cent of the total). These establishments provided employment to 13.45 million people despite the fact that 83.19 per cent were without hired workers.

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