Business Today

Women entrepreneurship is crucial for India's economic growth

In today's business environment, patience is key and women inherently seem to have more patience. Their decisions are well thought, well analysed, and well judged.

Shruti Sharma        Last Updated: March 10, 2015  | 16:52 IST

Shruti Sharma
Entrepreneurship is synonymous with risks. It brings with it a different set of securities and insecurities.

For a mother, entrepreneurship is a great security as you get to create space for your children within the workspace, so all the growing up can be participated with.

I chose to be an entrepreneur especially as I get to see my daughter grow up very closely, and have the freedom to allot my time according to her needs, be it school, play or social needs.

In today's business environment, patience is key and women inherently seem to have more patience. Their decisions are well thought, well analysed, and well judged.

At the same time, the business environment today is also more challenging and requires a lot more front-running than our older generation of mom-entrepreneurs, but it is up to the business owner to create her support group.

Women entrepreneurship in India is an emerging concept and very crucial for the economic growth of the country. The gender gap between men and women has now narrowed. Earlier the mindset of people was that business is meant only for men, but this thinking has changed.

I have grown up witnessing successful women around me who have been mom-entrepreneurs. My daughter has a slightly different lifestyle than other kids - she has to accompany me to the office during her holidays and cannot wake up late on her holidays as it is a usual working day for me. Being the boss's daughter, she gets leveraged access to office equipment and gadgets.

A very big benefit I have seen for my daughter, who has been accompanying me to office since she was 40 days old, is that she has no fear of strangers and has learnt the conduct of interacting with them over the years. And, of course, there is some on-the-job training that she has ingrained while being at office.

There are a number of problems that are faced by women entrepreneurs. The most crucial among them is the mindset of people. Whenever a woman wants to start a business of her own, the first question is source of capital, reliability on the long-term plans a woman has in business, apart from the usual business plan evaluation questions.

The government has made accessible useful schemes for providing financial support to women entrepreneurs, filling this void for them.

A start-up comes with its challenges of stabilising the business model and cash flows. There are times when expansion plans or aggressive marketing efforts take a back seat for fulfilling any family needs, so at such times I just lie low and reschedule such plans.

I think the key to being on the right track is to continuously evaluate and maintain a balance between business demands and the family's demands. This evaluation is done by all women who choose to work or pursue a career.

However, for women entrepreneurs, an inherent sense of security in taking such decisions is very important. Family support is very important for mom-entrepreneurs. My family is the backbone of support for me to fulfil my entrepreneurial plans and share household responsibilities.

(The author is Proprietor, Pristine Edutronics, and ISB alumnus, PGP Class of 2006)

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