With many enterprises and ventures being led by talented women, the startup ecosystem in India is booming. Nearly 4 out of 5 women in India desire to be entrepreneurs. But, on account of varied economic factors like gender bias, no investor confidence, and the non-availability of role models; many women are not fulfilling their start-up dream, despite being passionate about the same. How can this situation be improved? What is the role of existing successful women entrepreneurs in nurturing new talent? Do they lend them a helping hand?

Here are some unique ways through which successful business owners support other women to succeed:

1-on-1 Mentorship

Many accomplished business women are known to guide and advise young business owners in their respective domains. This is achieved either through collaborations, sponsoring or by acting as advisors within their capacity. Networks like Score in the USA and Kool Kanya or Her in India offer spaces for dialogue between the Veteran ladies and the newcomers to the field of entrepreneurship. And this dialogue can later lead to mentorship or training as the case may be.

Kiran Mazumdar Shaw, for instance, runs Biocon Academy to train young achievers in the field of Biotechnology. Through the YouTube channel of the academy, she hosts live sessions and answers any question posed by women who want to lead.

Such mentorship helps new business women to navigate various obstacles like gaining funding, understanding the market, developing leadership skills, acquiring the trust of investors, and other nuances of running a successful business.

Lending a helping hand takes different forms. Even an employer can act as a mentor to the employee, liberating the employee to take up leadership roles. And in this sphere, we need to recognize organizations that have an all-women staff. For example, in the startup sphere, there are organizations like My Style Communications, which try to encourage women from diverse backgrounds, with a passion for writing to join their organization.

Sharing Their Entrepreneurial Journey in Online and Offline Spaces

Prominent entrepreneurs of India such as Indira Nooyi – the former CEO of PepsiCo, Supriya Paul  – Co-founder of Josh Talks, Jagi Manat Panda – Co-founder of Orel Communication, and others are known to have shared their stories in forums like Ted Talks, Social Media and books. Such stories prove to be very beneficial in inspiring young women of India to dawn on leadership roles. Many youngsters get influenced to become entrepreneurs at a very young age by either reading autobiographies or documentaries on prominent women business leaders.

Start-up incubation:

Successful business women not only mentor but also give back to the community by functioning as angel investors or venture capitalists. They also run entrepreneurial coaching programs, and the best-performing candidates are given grants to help them scale and achieve success.

Creation of Communities to facilitate a women-driven start-up ecosystem

Communities spearheaded by enterprising businesswomen act as another platform that fosters the growth of upcoming women entrepreneurs. There are many communities that are designed especially for women who are restarting their careers. Platforms like Meetups and LinkedIn can be leveraged to facilitate open dialogue and discussions between varied business women in different domains. Live chats, and guest speaker sessions at organizations and colleges by veteran business women help foster a strong community and knowledge-sharing space for those passionate to learn about being a business owner.

Internship Opportunity

Young women entrepreneurs, who want to grow in their field can benefit extensively if they intern with the veterans in the field. Internships are surefire ways of learning the tricks of the trade. By shadowing successful businesswomen, upcoming lady entrepreneurs can learn a lot.

Future of Indian Women in The Business Space

The future of business women in India is promising with a lot of prospects for the younger generation. Women are achieving milestones in varied fields like technology, STEM, finance, social impact, and others. Mentoring, gaining training or funding are a few of the key aspects through which young women who nurture a dream to succeed as an entrepreneur can benefit from the wisdom of experienced women in the domain.

Not only the profit sector but also the nonprofit sector has women taking up leadership roles. Working for impact is a rewarding field that many young women might aspire to be a part of. Also, there are many social entrepreneurs who offer the space to have open discussions on varied aspects which is a starting point for future mentorship and collaboration.

Since the role of women in every sector is important, their education is equally important. As they say, educate a woman and you educate a family; if you educate a woman entrepreneur the entire community will benefit.

The post A Helping Hand to each other: Successful Businesswomen nurture the upcoming aspiring Women Entrepreneurs appeared first on The Pink Journey.

However, a woman’s excellence, most often than not, never left the four walls. In fact, women were hardly ever a part of any significant scenarios during the first, second, or third industrial global industrial revolution. Hence the growing gender discrepancy in the working environment of the 21st century. Research has shown that women are often much more organized, skilled, and intelligent than men in many leadership scenarios. Yet, only 7.5 percent of the Fortune 500 workforce includes women as CEO.

The role of women in the booming digital industry

The digital transition has opened an expansive new gate for women entrepreneurs worldwide with more unique opportunities and scopes to grow and thrive as individuals. With over 60 percent digitization by this year’s end, the world is moving towards a new era. While the world is still under the realms of traditional industrial growth, the dependency on the ‘internet’ has opened a new channel for women to showcase their potential.

• Remote Multitasking

Tools like Team, Zoom, etc., have made it very easy and flexible for women to work remotely from anywhere in the world without requiring a strict and time-bound presence physically at any workspace. This has given an enormous scope to many women to return to work and yet manage most of their personal and professional situations easily.

The result – More creativity and choices with women-centric presentations and ideologies being implemented. The dynamics and role reversal are also visible.

• Financial alterations

Fundraising is not an easy task as it requires endless hours of pitching, investor hunting, and much more. With virtual communications becoming a new norm, it is easier to reach broader and longer distances for seeking financial assistance. Skype, hangout, etc., have made it feasible to connect with investors beyond borders and seek help within days of communications.

• Availability of digital tools

The availability of newer and more sophisticated digital tools has opened numerous more unique scopes for women to try. Education, finance, trading, and many aspects of informative science are now easier and more flexible to handle, thanks to the right tools and accessories. From modular capsules to flexibility of timing and program management, there is a look that is now easier to manage, thanks to the right digital tool.

• Ease of promotion

Today promotion is no more reliant on print media or televisions. Social media has become a solid and integral necessity for every promotion. However, instead of seeking third-party assistance, these platforms allow the freedom of self-publicity through any desired channel. Self-promotion is one of the most cost-effective and genuine methods to connect with organic consumers. Women can utilize this aspect to its full potential to help drive their sales and publicity.

• Innovative entrepreneurship

Women are one of the most significant untapped entrepreneurial scopes worldwide today. With the incorporation of women in the digital business sector, innovation is bound to take a far more neutral stance than before. Newer approaches delving into women-related scenarios will be a fundamental change that many will be looking forward to.

A future of entrepreneurship with gender neutrality

Men went ahead to earn livelihood and manage the world outside while women stayed back and managed the home. For generations, their excellent managerial skills and keen accounting knowledge have been the critical reasons for families’ smooth sailing personal lives and the overall growth of the family’s children. Today the world is changing, and women are leading the race by standing on the mantel to show rather than the guide from the sideline. With more innovative startups being introduced that are trying to minimize the gender discrepancy, hopes for a strong entrepreneurial future for women seems like to be very near. Mystyle Communications based out of Bengaluru, India is one such digital workspace which is setting up new milestones with its unique women-centric workspace. From missed opportunities to grabbing the chance to shine, this is the future character trait of women in the world of business.

The post Role of women entrepreneurs in shaping future digital businesses appeared first on The Pink Journey.

India is a country of brimming potential, with advancements occurring in every industry. In 75 yrs of its independence, India has conquered the skies and left its mark everywhere. The journey so far would not have been possible without the constant participation and zeal of the feminine brigade.

Impact of Women Entrepreneurs on India’s Economy

The change in the growth scenario of the country can be dedicated equally to women who have proven themselves to be excellent leaders, managers, and successful entrepreneurs. From the Amul Co-operative movement where women played a key role in transforming India from a milk deficit to a milk-surplus country to Lijjat Papad where seven women built an empire on India’s most loved snack; women-centric business models have never failed to create buzzworthy impact.

They not only paved the way for female entrepreneurs but their contribution towards boosting the economy of the nation is also equally impressive.

Reforms in Guardianship and Custody Laws in India in May 2015 was one of the most iconic moments in giving women the well-deserved identity they had built for themselves. According to the law, the father’s or the husband’s signature and name in educational documents and government id was no more a mandate. 

Making room to establish their identities for their contribution and hard work, the new law motivated many women to come out of their bindings and start building on their ideas, transforming them into realities.

The Chains Holding Women Back 

While social stigmas like women are meant to run the households and not earn for whatever reason still surrounds our society, what leaves us thinking is how our habitual repetition of turning a blind eye to things that may not concern us directly, but at-large. Women themselves are often the shackle holding themselves back, and the norms and guidelines of unconscious gender bias can never change if we do not.

While this is a grave concern in itself, the other chains and shackles include..

• Lack of knowledge and understanding of the business administration can help them excel in developing the plan and the network.
• Absence of financial assistance to help them establish their business idea due to a lack of information about loans, schemes and incentives. The issue of collateral for loans also has been a massive detriment to the process.
• A deficit of resources due to the unavailability of training and experienced mentors often stops many from progressing further with their dreams.
• Unawareness of the market – The market is constantly changing, and the middlemen are often too late or unaware of the turning wheels. The result is a continued loss of hard work and time.

Factors Driving Women to Start Businesses Today

Despite all the barriers and shackles, there is no doubt the 21st century is the era of women standing up for themselves and creating a niche identity. In the last decade alone, thousands of women have changed the world’s outlook by forcing them to recognise the brilliant gender they are. The driving factors include :

• The need for recognition from the world around.
• The ability to be the support system to the family. 
• The zeal to make a difference for the ones who are lost.
• The ambition to showcase the skills that’s different and has potential to be a breakthrough.
• The drive to be an equal in a hierarchy, gender bias, and class differentiation.

Few Lesser-known Tales of Women’s Entrepreneurship in India

Some of the most inspiring tales of the rise of the women from unknown parts of the country are worth being told about, not because they are successful but because they are the inspiration for others.

• Anita Devi 

The mushroom lady of Bihar helped hundreds of villages across Nalanda to become independent by successfully growing and harvesting mushrooms. 

• Ananya and Anushree Malloo 

A market dominated by big brand names, men hygiene care is not an easy venture to work on. Yet, a young female duo’s startup Nuutjob showed that even women can create a premium line-up of intimate products for men without worrying about backlash or prejudice. 

• Chetna Gala Simha

The inspiring activist who created the Mahila Seva Sahakari Bank, the first-ever bank for rural women exclusively has been able to overturn decades of preconceptions by providing over 50 million dollars of financial support to rural women entrepreneurs.

• Prema Gopalan

Post the heartbreaking trauma of the 1993 earthquake, one lady took it upon herself to help rebuild the villages through help from the local women. This was the beginning of a new change that laid the foundation of Swayam Shikshan Prayog, a community venture that helped women grow through skill training and learning.

Government Initiatives to Promote Women Entrepreneurship in India

• Bharatiya Mahila Bank Business Loan

The scheme provides loans of over Rs. 20 crores for women entrepreneurs. As a collateral-free loan can also be availed of for loans worth less than Rs. 1 crore.

• Udyogini Scheme

For women with an annual income of Rs. 1.5 lakh  to Rs. 3 lakh for women wanting to start a business but have no capital.

• Dena Shakti Scheme

It was designed for women entrepreneurs looking to start their business in certain sectors such as agriculture, retail and manufacturing. The interest rate  is 0.25% below the base rate for upto  Rs. 20 lakhs.

• Women Entrepreneurship Platform

Started by NITI Aayog to motivate women to start their own businesses.

A New Beginning of Hope

Changes can be witnessed in every sphere, no matter how big or small in magnitude.  Women-based startups and networking platforms support entrepreneurship by giving women the platform to identify their potential and work from anywhere. This new ideology of all women’s workspaces and organizations is paving the way for many hidden talents and aspiring ladies to come forward and pursue their passion without much hesitation. 

With hopes for many more such unique propositions in the future, we look forward to witnessing many more women-led business empires to rule the world.  

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The post Current Scenario of Women Entrepreneurship in India appeared first on Startup Reporter

Source: Women Entrepreneur

The post Current Scenario of Women Entrepreneurship in India appeared first on The Pink Journey.