Strengthening the Ecosystem & Economy - Tapping the Untapped Potential

By: Anamika Sahu, Managing Editor | Friday, 27 November 2020

The concept of women entrepreneurship is becoming a global phenomenon and it can be rightly said that they play an important role in building the ecosystem and strengthening the economy. Though in India, women had a late entry into the world of entrepreneurship, it cannot be said that the history doesn’t have any examples of early women entrepreneurs. Our history has many such examples where women have taken the charge of business in their hands and emerged successful. However, Kalpana Saroj can be said to be the first women entrepreneur in the formal corporate world post independence. Kalpana bought the distressed assets of Kamani Tubes and turned the company back to profits.

Indeed her story is an inspiration for one and all, especially for those who to become a successful entrepreneur in the so called Man’s World. Dreams can only turn into reality when we work hard and stay determined. However, today more women are taking up entrepreneurship and are being more than just threir own boss. Their purpose is to generate employment and contribute towards their country’s economic growth. However, women still face a various problems in the process of establishing, developing and running their business. Despite this, their scope of development is very high in India, especially in the rural areas where more women are starting their own business. Even the government is launching various development oriented program like Development of Women and Children in Rural Areas, which was launched in 1982-83.

Creating New Opportunities

Rural entrepreneurship create new economic opportunities for rural women thus empowering them to better their financial situation and even provide jobs to local skills and helping cut migration to urban areas. Despite their substantial contribution, the development of women entrepreneurship in rural areas is very low as they face continuous hurdles on their way to success. Even their entrepreneurial potential, managerial skill and socio-economic contribution largely remain neglected. Hence institutional and policy framework for developing entrepreneurial skills, providing vocational education and training to widened the horizon for economic development of women is equally crucial.

Even raising or borrowing fund becomes a herculean task as investor feel less confident about their ability to give them returns. Apart from these, psychological barrier on the part of banks, suppliers and even clients whose trust level is quite low on women entrepreneur. Hence a two-sided effort is needed to strengthen their position in making India an ecosystem well-fertile for rural women entrepreneurs to thrive.  

Let’s join our hands to create an ecosystem of mentors, investors and willing customers along with a ready-market more open for rural women entrepreneurs and their offerings. Let’s empower them in the truest way by making them more empowered. Let’s not question their ability and provide a level playing field. Let’s enlighten them about the various government programs like Prime Minister Employment Generation Programme, Janasharee Bima Yojana for Khadi Artisans, Market Development Assistance, Centrally Sponsored Schemes of Export Market Promotion, Skill Upgradation & Quality Improvement and 19 Mahila Coir Yojana, and many more. Let’s raise a toast for them!