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(GIST OF YOJANA) Women Entrepreneurship

[December-2021]

Women Entrepreneurship

Introduction:

Women’s earning industries. entrepreneurship widespread Women has acceptance make grown a major contribution to entrepreneurial activity and economic development in terms of job creation and GDP growth, poverty reduction, and social inclusion.
According to a study, women’s entrepreneurial motivation determines the impact on entrepreneurial success. The entrepreneurial motivational variables include ambition, skills and experience, family support, market potential, independence, government subsidies, and work satisfaction.

Challenges:

The demands of work and personal commitment can put women under a lot of stressful responsibilities. At the same time, uncertainty is an important concern for women. They fear failing, especially if the people are sceptical about their business capability. Struggling in the business can be a result of an inadequate support system for them.
The women face challenges in getting support from relevant connections. Women have to work in the male-dominant world facing discrimination and social stigma.
One of the challenges faced by women entrepreneur is a less established business network, along with societal and traditional constraints. These factors restrict women’
participation in the business sphere.

Government Initiatives:

Specific target group: It was suggested to treat women as a specific target group in all major development programmes of the country.
Developing new equipment: Efforts should be made to increase their efficiency and productivity through appropriate technologies, equipment, and practices.
Marketing assistance: It was suggested to provide the required assistance for marketing the products produced by women entrepreneurs.
Decision-making process: It was also suggested to involve the women in the decision-making process.
The Women Entrepreneurship Platform (WEP): The Women Entrepreneurship Platform (WEP) was launched by NITI Aayog with the motive of providing an ecosystem for upcoming young women entrepreneurs across the country. NITI Aayog has partnered with Small Industries Development Bank of India (SIDBI) to promote and implement this initiative.
Pradhan Mantri MUDRA Yojana: This is one of the top schemes launched by GoI to
support and encourage women entrepreneurs who are looking to start a small business with minimum efforts such as beauty parlours, retail shops, or tuition centres.
Stree Shakti Loan: This is a unique scheme run under SBI to support women entrepreneurship by providing certain concessions. To avail of the Scheme, women entrepreneurs have to first enroll themselves in the Entrepreneurship Development Programme (EDP) - a training programme initiated to develop entrepreneurial skills required to run a business successfully.

Way Forward:

A woman entrepreneur is one of the most important pillars in the growth of Indian economy. We can consider the following suggestions for the growth of women-

1. Different training programmes should be conducted at minimum prices or free of cost to develop entrepreneurial skills in women.
2. Establishment of institutes providing free quality education to women right from childhood and further for higher education.
3. To provide financial aid to promote entrepreneurial engagement.
4. To spread awareness of incentives and schemes provided by the government.
5. To minimise documentation and make procedure simple for availing schemes.