Women Entrepreneurs in India: An Empirical Analysis of Motivations, Success Factors and Problems

Abstract

Women entrepreneurs are of great importance for the improved economic and social status of developing nations. The changing demographics and economic conditions in nations like India from the onset of 21st century are providing promising conditions for females to grow economically. Entrepreneurship remained as most appropriate option, for women of various economic classes irrespective of their educational status. Yet the percentage of female population becoming entrepreneurs is too low and also the success rate of those who own enterprise is also very less. Research stated the most common constrains are limited access to finance, family relations, and gender stereotypes. Apart from these pigeonholes, many other factors are taking a toll over business operations and are diminishing the grit of women for becoming entrepreneurs. The purpose of this paper is to investigate the elements of motivations, success factors and challenges in detail. A quantitative research method has been adopted, direct interview and analyzed recent statistical survey data collected by ESCAP, to investigate all critical issues related to motivations, success factors and challenges that female entrepreneur’s face while operating business of different sizes. The paper seeks to fill the gap of limited information pertaining to the factors playing crucial role in determining the inception and functionalities of enterprises owned by women, from a practical approach. The findings and suggestions for further research will serve to progress research not only in India but on an international scale. This research will hold critical importance to academia, government support agencies, practitioners, policy makers and female entrepreneurs alike in developing relevant and practical supports to assist in promoting women entrepreneurs.