Indian women to date face a lot of barriers to overcome before getting the tag-successful. Although startup culture in the nation is growing Indian women being an entrepreneur are still a dream. Ever wondered what the percentage of women entrepreneurs is in India? According to the sixth economic census, by the Ministry of Statistics and Programme Implementation, women comprise 13.76% of the total entrepreneurs in India which is 8.05 million out of the total 58.5 million entrepreneurs.
Let us look at the major factors affecting the success of women entrepreneurs.
Lack of financial support
It is a known fact that women have a specific risk-wrapping possibility financially and a lack of credit support. In India, land, property, and traditional wealth are inherited specifically by men. The key barrier to women risking claim to their rightful share of inherited property is the extensive belief that a woman’s fair share is restricted to her dowry. This is a major obstacle for first-time entrepreneurs and women growing up in semi-urban and rural India. Maybe building an altered loan process across the country and making things more transparent and streamlined can help women overcome those.
Struggles of the average middle-class working woman in India
Victimized in the workplace for a lack of quality higher education, combatting the war on the wage gap, controlling household chores, being a mother to her children, and all this while needing to cook the perfectly round rotis, the parallels between Entrepreneurs and middle-income working women are many. Still, the middle-income working woman has a tiny likelihood of being able to explore entrepreneurship as a possibility, and most of that sector comprises the upper class. There should be an initiative to enable the enterprising middle-class woman.
Pressure in women-dominated sectors
As known, the healthcare workforce is monopolized by women at 70% globally. Further, they are also the main caregivers for the elderly and children. Despite this clear distinction in healthcare, investor interest in health startups by women is scarce, and even high-level positions in this sector fall behind the statistic, according to the recent Oliver Wyman reports, women make up 30% of C-suite executives and 13% of CEOs.
Talking about the fashion industry which is almost propped up by women, they spend three times more on clothing than men, fill a majority of entry-level jobs and over 88% of fashion designers are women. However, fewer than 50% of well-known womenswear brands are designed by women, and only 14% of major global brands have a female executive in charge. According to a recent study by the Time and Trend Academy, 8 of the top 10 most successful Indian fashion designers in India are men.
Well, since there is no deficit of abilities and candidates within Industries monopolized by women, there should be no reason for women entrepreneurs to still be at a disadvantage.