Nurturing Women Entrepreneurs: Process and Perspectives

Abstract

Entrepreneurship is the lifeblood of any Economy. The entrepreneur is one who takes initiative and establishes the key variable, which links the ~socio cultural in lieu with the rate of economic development. Development of entrepreneurial skill among women is essential for the economic growth of a country. Entrepreneurs initiate, increase and sustain the process of economic development. Entrepreneur neutralizes the savings of the public through security issues and thus she is a creator of wealth. Entrepreneurial competence makes all the difference in achieving the economic growth. The need of a broad-based entrepreneurial class in India arises from the need to speed up the process of achieving the factors of production, leading to a higher rate of economic growth, dispersal of economic activities, development of backward and tribal areas, creation of employment opportunities, improvement in the standard of living of the weaker sections etc. Women entrepreneurs are making significant impact in all segments of the economy. Economic development essentially means a process of upward change. It can be defined as a process whereby the real per capita income of the country increases a long period of time. The role of capital formation is an important determinant economic development Adam smith (1937). The phenomenon of economic development is largely due to the ability of the people to save more and invest more. The role of entrepreneur in economic development has been considered to have greater significance in shaping the industrial growth and economic development in h the developed and developing .countries. The need for entrepreneurial awareness among women will contribute to the economic development. Entrepreneurial education for women will enhance the opportunities of trade in the global market.