The Past, Present and Future of Women Entrepreneurship

Abinaya Arangarajan Abinaya Arangarajan
Nov 18, 2021 6 min read
The Past, Present and Future of Women Entrepreneurship

From fighting for equal rights to building individual opportunities, the world for women has been burgeoning day by day. Initially, in some countries, women are determined to stay indoors, looking after their children and running errands. Where their ideas/talents are tantamount to nothing and considered only for domestic responsibilities. But, some things weren’t the same, women took the place to change certain lifestyles over the past few decades.

For instance, those women, who were locked up inside their home, cooking and taking care of their children, later came out as Models, teachers, doctors, CEOs, presidents, content writers, actresses and even implemented their ideas in starting up their own business.

In this coming of age, many young women are looking forward to creating their own career path. One such career- Women Entrepreneurship, that impacted greater differences in the sectors of employment these days.

Past of Women Entrepreneurship
Present of Women entrepreneurship
Future of Women entrepreneurship
Things that will help Promote Women Entrepreneurship in the World
FAQ

Past of Women Entrepreneurship

If we take World War II as an example in the development of women entrepreneurship, then I would say that there wasn’t any improvement. As women are there to treat soldiers who are wounded in the war.

When world war II ended, the concept of women-centric aroused in the society, as many were a part of many businesses such as sewing, nursing, teaching and so on.

Speaking of which, the term β€˜feminism’ flourished in many countries, at that time women were fighting for their right to vote, equal wages and opportunities. Later periods emerged in many sectors, for instance, Back in 1739, it is cited that Eliza Lucas was the first female entrepreneur to take control of her family business in the US.

Besides, Kalpana Saroj is the first woman entrepreneur of India and the CEO of Kamani Tubes, which is worth 112 million dollars.

Kalpana Saroj
Kalpana Saroj

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Present of Women entrepreneurship

At the beginning of the 21st century, women entrepreneurship became an upsurge thing, as many young ladies came forward and cast their talent in various ways and reported an increase in women-owned business enterprises that are playing an essential role in developing the Indian economy.

Even though they suffer a lot in the present society in regards to discrimination, pay & wages, gender inequality and so many. Not only the outer surface of the society, but also they face socio-cultural barriers.

One such example, Oprah Gail Winfrey, who is famously known as The Oprah Winfrey Show Host, media representative and greatest Black philanthropist in U.S history.

Oprah Gail Winfrey
Oprah Winfrey

As you know, she was once the richest African American of the 20th century. And ranked as the most influential woman in the world since 2007. Speaking of the present, Women entrepreneurship is gaining importance in India in the wake of economic liberalization and globalization.

In the world of development, the Government of India implemented numerous schemes to encourage as many as young women in the field of entrepreneurship by introducing MSME Scheme, Annapurna Scheme, Dena Shakti Scheme, TREAD (Trade-Related Entrepreneurship Assistance and Development) Scheme, NSDM, DICs and many other women entrepreneurship schemes.

Women are the largest untapped reservoir of talent in the world- Hillary Clinton.

Future of Women entrepreneurship

Speaking of gender equality in entrepreneurship has played a vital role in creating opportunities, innovation, and growth.

Starting from Vandana Luthra, to Falguni Nayar, the founder of Nykaa, the women’s contribution in the entrepreneurship field is exceptional. However, over time, women are coming forward to entrepreneurship training, with their innovative minds and ideas, the future of women’s entrepreneurship is in good hands.

Moreover, Indian Military services’ has opened hands to welcome young women is another start for a great future. In addition to that, Prime Minister Narendra Modi’s Employment Generation Programme and other schemes have pitched in to support large to small enterprises.

On the other hand, over 30% of the population are employed women, and 3% are self-employed. Having that said, the future of entrepreneurship in women’s hands not only creates opportunities for themselves but others too. Women are the epitome of love, passion, duty, and beauty so that their positive energy could be used in managing resources efficiently.

Subsequently, the process of Women’s entrepreneurship is a natural one with the utter encouragement of women entrepreneurs on one side, the women empowerment is all set.

Furthermore, women-owned businesses have rapidly increased in this pandemic, especially on social media. Plus, the requisite skill, knowledge, and adaptability in business are the main reasons for women to emerge into business ventures. Consequently, the role of a woman entrepreneur is a person who accepts challenging roles to meet her personal needs and become economically independent.

Things that will help Promote Women Entrepreneurship in the World

Meanwhile, the participation rate of younger women in the entrepreneurship field is higher than that of men. Yet, the women’s entrepreneurial role is limited and inadequate. The small-scale industries are the worst hit, with only 10% owned by women.

So following this, three effective and immediate measures are suggested by experts:

Promotion of women entrepreneurs

Promotion of women entrepreneurs in micro-enterprises: with additional support from proper government and society, these upcoming women can cultivate sustainable, organized, and growth-oriented enterprises to a great extent.

Institutional and Policy-based support

There are still several government policies and regulations on businesses and industries out there. Nevertheless, certain modifications have to be made to ease the administrative hurdles for women entrepreneurs.

Special Incentives

Special incentives, tax rebates, duty cuts can be provided with women as supervisors. Women with great minds not only make the best out of the best but also lead the path for the next generation. Β So sectors with the prerequisite of entrepreneurial talent as well as exceptional communication skills can right away approach these incredible women.


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Conclusion

A strong desire to do something positive is an inbuilt quality of any entrepreneurial woman, plus, the capability to contribute values in both family and social life is what makes them stand out from others.

Unlike men, who are capable of committing to social life, women have a self-role as well as a personal role like mother, wife, daughter. Entrepreneurial women have the impulse to focus on improving the living standards for women on education and personal development as well.

On the whole, women entrepreneurs account for and will account for improved economic growth and stability within a country. They not only look for progression for themselves but also set inspirations for other women to start a business. Eventually, this vision will also help in reducing the gender gap in the workspace and overall a better place to live.

FAQ

Who is the most famous female entrepreneur?

Wang Laichun, Oprah Winfrey, Shery Sandberg, Sara Blakely, Cher Wang, Folorunsho Alakija, Susan Wojcicki, and Indra Nooyi are some of the Β most famous female entrepreneurs.

Why India needs more Women Entrepreneurs?

Economic Growth, Narrowing Gender Gap, Company Culture & Safety at Workplace, Funding/Investment to Women-led Startups and Social Change.

What are the schemes provided by Government for women entrepreneurship?

Government initiatives to boost women entrepreneurship are Mudra Yojana Scheme, Annapurna Scheme, Dena Shakti Scheme, and TREAD (Trade-Related Entrepreneurship Assistance and Development) Scheme.

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