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Women in the Entrepreneurial World

Gagandeep Banga & Babita Kumar

Abstract

Empirical evidence shows that women contribute significantly tothe running of family businesses mostly in the form of unpaid effortand skills. The value of this effort is underestimated both by thefamilies that take it for granted. Earlier women confined to selectedprofessions such as education, nursing, medicine and office workbut today women have adopted the so-called male professions likeindustry, engineering, trade etc. successfully. This has been possibledue to education, political awakening, urbanization, legalsafeguards, social reforms etc. Some of the women have evendistinguished themselves in many unconventional fields as Prime

Ministers, Ambassadors, Governors, Space Scientists, Pilots, ViceChancellors, Administrators and Entrepreneurs.

Keywords: Women Entrepreneurs, Women Empowerment,Rural Growth.

Introduction

Entrepreneurship is the practice of starting new organizations orrevitalizing mature organizations, particularly new businesses,generally in response to identified opportunities. The termentrepreneurship comes from the French verb entreprendreand the German word unternehmen, both means to undertake.By grave and Hofer in1891 defined the entrepreneurial process as

involving all the functions, activities, and actions associated withperceiving of opportunities and creation of organizations to pursuethem. Joseph Schumpeter introduced the modern definition ofentrepreneurship in 1934. According to Schumpeter, the carrying


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Women in the Entrepreneurial World 45

out of new combinations we call enterprise, and the individualswhose function it is to carry them out we call entrepreneurs.Schumpeter tied entrepreneurship to the creation of five basic newcombinations namely: introduction of a new product, introductionof a new method of production, opening of a new market, theconquest of a new source of supply and carrying out of a neworganization of industry.

Entrepreneurship begins with action, creation of neworganization. This organization may or may not become self-sustaining and in fact, may never earn significant revenues. But,when individuals create a new organization, they have entered the

entrepreneurship paradigm. Entrepreneurial activities aresubstantially different depending on the type of organization thatis being started. Entrepreneurship ranges in scale from solo projects(even involving the entrepreneur only part-time) to majorundertakings creating many job opportunities.

Women Entrepreneurs

Women entrepreneurs may be defined as the women or group ofwomen who initiate, organize and operate a business enterprise.According to the Government of India, a woman entrepreneur isdefined as an enterprise owned and controlled by a woman andhaving a minimum financial interest of 51% of the capital and giving

at least 51% of the employment generated in the enterprise towomen (Gupta and Srinivasan, 2004).

A woman may start her own business due to several reasons.She may want a sense of independence and her own identity. Shemay desire to do something meaningful. She may have to start herown work out of compulsion. She may not be able to find a job in themarket place or she may not be able to work out of her house. Somewomen may start their own business as they are stagnating nearthe top of male-owned firm. They may be attracted to start businessfrom home, which is especially advantageous for those women whodo not want to disturb the balance of the family by pursuing a fulltime career. The most enticing aspect of business at home is theflexible working hours. Entrepreneurship is also a tool for meeting

their career needs. Women may become entrepreneurs to carry outtheir family legacy. Many entrepreneurial ventures have developedfrom a hobby or an interest which did not require any formalizedtraining.


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Rural Entrepreneurship Development in Liberalised Era46

Growth of Women Entrepreneurship

The entry of women in business is a relatively new phenomenon.Women business owners are an important and growing force in theUnited States economy, both in terms of the number of participantsand the gross revenues and employment they represent. The numberof women-owned businesses continues to grow at twice the rate ofall U.S. firms and one in eighteen women in the U.S. is a businessowner. In 2004, there were a projected 10.6 million privately-heldbusinesses in which a woman or women owned at least 50 percent.The majority women-owned firms were projected to be 30 percent ofall businesses, about 6.7 million businesses, while equally-owned

firms represented another 18 percent of all firms. The 10.6 millionwomen-owned and equally-owned firms employed 19.1 millionpeople and generated $2.46 trillion in revenue. The growth of womenownership continues to exceed the national averages for all firms.From 1997 to 2004, the number of women-owned firms grew at arate of 17 percent. They registered revenues increases of 39 percent.This was in comparison to a 9 percent growth in the number offirms overall and a 34 percent increase in revenues (Gatewood et al,2004).

In India women entrepreneurs constitute a negligibleproportion of the total entrepreneurs. Attitudinal constraints, socialtraditions and kinship system inhibit the emergence of women

entrepreneurs. The typical women enterprises are the extension ofkitchen activities i.e. the 3 Ps viz. pickles, powder (masala) andpapad, or the traditional cottage industries of basket making etc.But with the spread of education and growing awareness, womenhave entered into engineering, electronics, energy and many otherindustries. In fact some areas like beauty parlours, boutiques,kindergartens, day nurseries, crches, jewellery designing andflower businesses are dominated by women entrepreneurs.

It is estimated that women entrepreneurs presently compriseabout 10% of the total number of entrepreneurs in India, with thepercentage growing every year. If the prevailing trends continue, itis likely that in another five years, women will comprise 20% of theentrepreneurial force. With corporates eager to associate and work

with women-owned businesses, and a host of banks and non-governmental organizations keen to help them get going, there hasrarely been a better time for women with zeal and creativity to starttheir own business.


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Problems faced by women entrepreneurs

Women entrepreneurs face various problems in their effort toestablish and develop an enterprise that they establish(Vishwanathan, 2001).

1. Patriarchal society:The male dominance in the societydeters women from venturing into businesses. Malemembers think it a big risk financing the ventures runby women.

2. Shortage of finance: Small enterprises and theenterprises run by women suffer from inadequate funds

for initial investment and working capital too. Theyare unable to access funds from external sources dueto the absence of tangible security like property in theirname. Due to lack of confidence in womens abilitymale members in the family also do not risk capital intheir ventures.

3. Bank Loans: The complicated procedure of bank loans,the delay in obtaining the loans and running aroundinvolved in getting the loan sanctioned acts as anegative factor for many women venturing into thebusinesses. Banks and other financial institutions arenot only skeptical about lending to womenentrepreneurs but go to the extent of discouraging them.

Sometimes the bankers put unrealistic andunreasonable securities to give loan to womenentrepreneurs. According to a report by the UnitedNations Industrial Development Organization(UNIDO), despite evidence that womens loanrepayment rates are higher than mens, women stillface more difficulties in obtaining credit, often due todiscriminatory attitudes of banks and informal lendinggroups (UNIDO). The result is that they are forced torely on their own savings, and loan from relatives andfamily friends.

4. Family responsibilities: In India the main responsibility

of the family is of women. Her involvement in the familyleaves little energy and time for business. Sometimesfamily obligations bar women from becoming


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successful entrepreneurs. Indian women give moreemphasis to family ties and relationships. Marriedwomen have to make a fine balance between businessand home. More over the business success isdependent on the support the family members extendedto women in the business process and management.The interest of the family members is a determinantfactor in the realization of women folk businessaspirations.

5. L ac k o f co nf id en ce : Centuries of adopting asubordinate status has resulted in women lacking in

confidence. Family members do not have confidence intheir abilities to make decisions. People believe thatwomen entrepreneurs have low-level managementskills. They have to depend on office staffs andintermediaries, to get things done, especially, themarketing and sales side of business. Here there is moreprobability for business fallacies like the intermediariestaking major part of the surplus or profit.

6. Arrangement for marketing and low mobility:Marketing means mobility and confidence in dealingwith the external world, both of which women havebe en di sc ou raged from de ve lo pin g by so ci alconditioning. Even when they are otherwise in controlof an enterprise, they often depend on males of thefamily or middlemen in this area. Mobility or travelingfrom one place to another is another big handicap.

7. Stiff competition: The male - female competition isanother factor, which develop hurdles for womenentrepreneurs in the business and its management.Despite the fact that women entrepreneurs are good inkeeping their service prompt and delivery in time, theyface competition from organized industries. Example-Cooperatives of women face competition from theorganized industries which are highly mechanized.

8. Shortage of raw material: Women entrepreneurs find

it difficult to procure raw materials and other necessaryinputs. Knowledge of alternative sources of rawmaterials, their availability and negotiation skills are


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important for running a business and earning profitswhich the women entrepreneurs may lack sometimes,adversely affecting their business.

9. Knowledge of latest technological changes:Knowledge of latest technological changes, know how,and education level of the persons are significant factorthat affect business. Women are ignorant of newtechnologies or unskilled in their use, and often unableto do research and gain the necessary training.

10. Illiteracy among women: The literacy rate of womenin India is found at low level compared to male

population. Many women in developing nations lackthe education needed to spur successfulentrepreneurship. Low-level education provides low-level self-confidence and self-reliance to the womenfolk to engage in business, which is continuous risktaking and strategic decision making profession. Thiskeeps them in the permanent poverty trap.

11. Low risk taking ability: Low-level risk taking attitudeis another factor affecting women folk decision to getinto business. Investing money, maintaining theoperations and ploughing back money for surplusgeneration requires high risk taking attitude, courage

and confidence. Though the risk tolerance ability ofthe women folk in day-to-day life is high compared tomale members, while in business it is found oppositeto that.

12. Achievement motivation: Achievement motivation ofthe women folk has been found less as compared tomale members. The low level of education andconfidence leads to low level achievement andadvancement motivation among women folk to engagein business operations and running a businessconcern.

13. High Cost of production: Finally high production costof some business operations adversely affects thedevelopment of women entrepreneurs. The installationof new machineries during expansion of the productivecapacity and other similar factors dissuades the women


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entrepreneurs from venturing into new areas. To ensuretheir ultimate survival, it is necessary to increaseefficiency, expand productive capacity and hencereduce the cost.

14. Women income is supplementary income: Thecommon practice of selecting occupations for womenon the basis that women are only supplementaryincome providers and, therefore, do not require a fulldays wage for a full days work has resulted in theirlarge-scale exploitation. Activities in which women aretrained should focus on their marketability and

profitability, and not be routinely restricted to makingpickles and garments.

Solutions to the problems faced by women entrepreneurs

Sincere and right efforts are required by all for the development ofwomen entrepreneurs. Following measures can be adopted for thedevelopment of women entrepreneurs (Shridhar, 2005):

1. Women education is a must. This will develop confidenceand inculcate a confidence of decision making amongwomen.

2. Women should be considered a specific target group fordevelopmental programmes like education, providing

finance for setting up their own ventures etc.

3. Training on management skills, professional competence,leadership skills accounts and finance management,marketing, providing understanding of the productionprocess and production management, leadership skillsand entrepreneurial skill development is a must. Womenpolytechnics and industrial training institutes areproviding such training.

4. Encourage womens participation in decision-making todevelop self- confidence.

5. Counseling through the aid of committed NGOs,psychologists, managerial experts and technicalpersonnel should be provided to existing and emergingwomen entrepreneurs.


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6. State finance corporations and financing institutionsshould permit by statute to extend purely trade relatedfinance to women entrepreneurs.

Womens development corporations have to gain accessto open-ended financing. The financial institutions shouldprovide more working capital assistance both for smallscale venture and large scale ventures.

Making provision of micro credit system and enterprisecredit system to the women entrepreneurs at local level.

7. Repeated gender sensitization programmes should beheld to train financiers to treat women with dignity andrespect as persons in their own right.

8. Infrastructure, in the form of industrial plots and sheds,to set up industries is to be provided by state run agencies.Industrial estates could also provide marketing outletsfor the display and sale of products made by women.

9. Government can set up various units or cells to handleproblems of women entrepreneurs. In many states WomenEntrepreneurs Guidance Cell have been set up to handlethe various problems of women entrepreneurs all overthe state. District Industries Centers and Single WindowAgencies should make use of assisting women in theirtrade and business guidance. An experiment that was

tried out in the Karnataka State Financial Corporationhas received positive feedback.

10. Building entrepreneurial temperament should be a partof the training provided at schools and colleges throughwell-defined courses and curriculum.

Women Entrepreneur Associations

With the growth of women entrepreneurs, a few associations ofwomen entrepreneurs have been set up both at international andnational levels. The main purpose of these associations is to createa congenial environment for developing women entrepreneurshipin rural and urban areas. These associations seek to achieve thefollowing objectives:


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i) to provide a meeting ground for women entrepreneurs

ii) to promote and develop feel ings of unity andbrotherhood among the entrepreneurs;

iii) to develop self-confidence and hope among femaleentrepreneurs;

iv) to present the problems of women entrepreneurs beforethe concerned authorities for consideration andredressal

v) to secure various concessions, subsidies and assistancefor women entrepreneurs

vi) to conduct entrepreneurial development programmesfor women

vii) to organize seminars and conferences onentrepreneurship with the help of other national andinternational bodies

viii) to secure wider dispersal of entrepreneurship amongwomen

ix) to perform other activities to improve the operationalefficiency of women entrepreneurs, etc.

Some of the associations of women entrepreneurs in India andabroad are described below:

1. Women entrepreneurs wing of NAYE: The nationalalliance of Young Entrepreneurs (NAYE) has a separatewing for women entrepreneurs. This wing is for femaleentrepreneurs and encourages them to participateactively in the countrys industrialization. It urges thecentral and State Governments to provide specialincentives and facilities to women entrepreneurs, suchas liberal allocation of land and sheds, easier follow-upcredit, access to up-to-date technology, training etc. Italso organizes conferences of women entrepreneurs.

2. Indian Council for Women Entrepreneurs: It is situatedin New Delhi and is rendering valuable services for thepromotion of women entrepreneurship in the country.

3. FICCI Ladies Organization (FLO): This organizationinspires women to take active part in business and otherfields. It organizes meeting and discussions. It also


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recognizes women who have made a mark in the field ofindustry.

4. National Commission on Self Employed Women inthe Informal Sector: The Commission expects the vastnetwork of Mahila Mandals in India to obtain rawmaterials, credit and market assistance for womenentrepreneurs. It has suggested consumer cooperatives,super markets, State Emporia and Government depotsas channels for marketing produce of womenentrepreneurs. It assists women in gettingentrepreneurial training. Training programmes are

organized by the Small Industries DevelopmentOrganization (SIDO), District Industries Centers, StateSmall Industries Corporations, Bank and Director ofIndustries. The training programmes are designed tohelp develop certain qualities essential for running smallscale industries.

5. World Association of Women Entrepreneurs (WAWE):This association organizes international conferences onwomen entrepreneurship. It participated in the ThirdInternational Conference on Women Entrepreneurshipsponsored by NAYE at New Delhi in1984. Its aim is tobring together all women who are qualified to take upan active and leading part in employer organizationsalong with their male colleagues. It seeks to explore andadvise on the means by which the rights and duties ofwomen in business and industry could be asserted andimproved. The association has a membership of morethan 27,000 women entrepreneurs from all over theworld. It suggests that women from variousinternational associations could enter into collaborativearrangements with their counterparts in India either forsetting up new units in India or for import and either forsetting up new units in India or for import and exportbusiness. The WAWE was very anxious to set up jointventures in India.

6. Associated Country Women of the World (ACWW):Thisassociation has one crore women entrepreneurs as itsmembers from sixty countries. These are mainly rural


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entrepreneurs. It provides a network through whichmember groups can supports and help one another. It isactively promoting women entrepreneurship inagriculture and rural industries.

7. Federation of Indian Women Entrepreneurs (FIWE):This is a National-level organization, founded in 1993,is today, one of Indias Premier Institution for Womenthoroughly devoted towards EntrepreneurshipDevelopment, having a large membership base of 15,000individual members /professionals and more than 28Member Associations spread throughout the country.

The objective of the organization is to foster theEconomic Empowerment of Women, particularly theSME segment, by helping them to become successfulentrepreneurs and become a part of the industry. FIWEendeavors to provide: Networking platform for women,Technical know-how, Industry research & expertise,Skill development & training and brings thebusinesswomen on a common forum; and ensures thattheir opinions, ideas and visions are collectively andeffectively taken up with policy makers and variousother agencies respectively for the development ofEnterprise in Women.

8. Confederation of Women Entrepreneurs (COWE):

Helping businesswomen with infrastructure andsupport is the, a 520-member non-profit body foundedby six like-minded people in 2004.

In addition to the above associations, there are State levelassociations of women entrepreneurs. Association of WomenEntrepreneurs of Karnataka (AWAKE) and self-employed WomensAssociation (SEWA) of Ahmedabad are doing considerable workfor the benefit of women entrepreneurs. Institute of MarketingManagement (IMM) New Delhi, confers every year awards on themost outstanding women entrepreneur in the country. SNDTWomens University of Bombay conducts post-graduate diplomacourses for women in banking, travel and tourism, etc.Some other

organizations like Grassroots Innovations Augmentation Network(GIAN) - a registered society set up in November, 2002 byGovernment of Rajasthan and National Innovation Foundation(NIF) at Jaipur is working as a technology and business incubator


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for the grassroots innovations. Selected innovations byentrepreneurs are taken up for value addition, business developmentand commercial/ social diffusion activities.

Opportunities for women entrepreneurs

Considering the flow of women entrepreneurs in the traditionaland conventional industries and product lines, it is other criticizedthat the women entrepreneurship in India is caught up in 3s(papads and pickles, food industry, readymade garments industry,paintings and handicrafts). The entry of women entrepreneurs inthe conventional product is justified on the grounds that they have

acquired the skills required to manufacture these productstraditionally. If they could excel in these product lines let themexcel. But many all-India level surveys have proved that in recentyears, women entrepreneurs have entered all fields industries andindustry.

In the last decade, there has been a remarkable shift in from themanufacturing industry to the service industry. Considering this,some important opportunities are identified for the women in urbanareas.

1. Computer service and information dissemination

2. Trading in computer stationary

3. Computer maintenance

4. Travel and tourism

5. Quality testing, quality control laboratories

6. Sub-assemblies of electronic products.

7. Nutrition clubs in schools and offices

8. Poster and indoor plant library

9. Recreation centers for old people

10. Culture centers

11. Screen printing, photography , and video shooting

12. Stuffed soft toys, wooden toys

13. Mini laundry, community eating centers14. Community kitchens

15. Distributing and trading of house hold provision as wellas saris, dress materials, etc.


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16. Job contracts for packaging of goods

17. Photocopying, typing centers.

18. Beauty parlors

19. Communications centers like STD booths, cyber cafes,etc.

20. Crches

21. Catering service

22. Health clubs etc.

Opportunities for women in semi-urban areas

Considering the socio-economic, cultural and educational statusand the motivation of women in semi-urban areas, projectsparticularly with low investments, low technical know-how andassured market are suggested for semi-urban women. Someopportunities identified for semi urban women are enlisted below:

1. Production of liquid soap, soap power, detergents,deodorants etc.

2. Office stationary lime cushion pads, gum, ink pads etc.

3. Convenience, readymade, instant food productsincluding pickles, spices, papads etc.

4. Community kitchens

5. Communication services

6. Different types of training and coaching classes

7. Child care centers and culture centers for children

8. Nursery classes

9. Manufacturing of leather goods

10. Garments.

Opportunities for women in rural areas

In the recent industrial policy, the government has given tremendousimportance for the agro-based products and allied products. Only

1-2% of the total production of fruits and vegetables is processedevery year in India. This reveals a huge scope for the food, fruit andvegetables processing industry. Women have a natural flair andinstinct for food preparation and processing. A new market is


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developed for the processed fruits and vegetables in form of babyfoods, ice cream, convenience food, cold drinks, canned productstraditional medicine preparations etc. Thus, there are plenty ofopportunities available for women entrepreneurs.

Entrepreneurial Education and Training

Training in entrepreneurial attitudes should start at the high schoollevel through well-designed courses which build confidencethrough behavioral games. This exercise would illustrate practicalapplication of the academic knowledge being imparted regardingmanagement (financial, legal, etc.) of an enterprise. This curriculum

should include simple project work designed to give hands onexperience of assessing the marketability of a commodity or a service.EDI Ahmedabad is running a programme on these lines in Gujaratwhich could be replicated elsewhere. While making this compulsoryfor girls at the high school level, however, care must be taken toensure quality and the syllabus should be reviewed continuouslyon the basis of the feedback received using professional inputs.

Examples of successful women entrepreneurs

Some examples of successful women entrepreneurs are given below(Pandit V, 2003):

1. Suvidha Estate agency started by Veena Mehta has

completed 350 deals so far. Veena has never had toadvertise her business and says her work speaks foritself. Her sustained client list speaks of her successfulbusiness.

2. Artillery Designware founded by Archana Hiremathin 1997 started as a hobby and soon developed into aflourishing business of art and craft products attractingcustomers from all households and corporate sectors.She aims to have a retail outlet of her own, a fine artgallery and an export business.

3. Revathy Subramanian set up an Export Oriented Unitby the name ofTrendy Leatherware in July 1986 which

exports leatherbags, sachets, key holders documentbags, organizers, file-o-fax etc. to US and Singapore.


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4. Pali Waraich an army mans wife saw greatopportunities in Croceht skills of rural women of UttarPradesh. Utilizing the skills of strong force of 200women, now Pali specializes in crochet work beingdone on the dresses of celebrities. Her clothes aredisplayed in may fancy Indian boutiques and are alsoexported to the high end markets in the west. She callsher venture Zameen Ashman

5. Fem Pharmacare is a pioneer in bleach creams. It wasstarted by a first generation entrepreneur-SunitaRamnathkar. From a small partnership firm, today the

firm has become a full fledged public limited companyregistered in Mumbai, Delhi and Ahmedabad StockExchanges. Its range of products covers cosmetics,pharma, specialty chemicals, direct marketing, ITdistributions and exports.

6. S on al P aw nma tra started Ornate a flowerarrangement shop in Mumbai. She has the mostprestigious companies and glitterate of Mumbai underher clientele list which includes Birlas, Bajaj, Godrej,Ambanis and Sighanias to name a few. She specializesin flower arrangements for weedings , functions, pujas,cars, offices and conference.

7. Lakshmi Gem Corporation, a leader in costumejewellery, was started by Harshada Vakil in 1980. Mostof her customers are women and her business hasgrown through sales and exhibitions. The methodsused for increasing sales are new and innovativedesigns in all kinds of jewellery such as precious, semiprecious, costume, silver, pearl, diamond and gold inattractive gift packing.

8. Ekta Kapoor is the brain behind Balaji Telefilms,which currently airs 19 serials across various channelsaggregating to 57 shows a week. She started withpractically no training and today at a tender age of 25she has become a phenomenon in the Mumbais

entertainment society.

9. Karens Gourmet Kitchen started by Karen Anand isdoing an excellent business. She supplies a long mouth


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watering list of fresh sauces, cheese, exotic foods,preserves and oil less masala pastes, cakes andchocolates to contemporary Arts and Crafts, Foodland,Rustoms, Willindon Sports club directly from her Punefactory. She caters to numerous society parties inMumbai and also sells unusual vegetables, exoticdishes of French, Mexican and Thai origin.

10. Schnell Hans International a chain of beauty trainingand grooming schools and saloons whose founderdirector Romila Shyam started its first batch in 1968.She also started manufacturing her own beauty creams

and hair care products from herbs. Schnell Hans alsospecializes in innovative facials and bridal dressings,hair cutting, hair dying, nutrition and dietics. SchnellHans has pioneered in the areas of Onychology, i.e.nail care and sculpturing.

11. Shahnaz Husain (Shahnaz) is another successfulwoman entrepreneur of India. She popularized herbaltreatments for beauty and health problems. Hercompany, Shahnaz Husain Herbals, is the largest ofits kind in the world and has a strong presence in over100 countries, from the US to Asia. By 2002, theShahnaz Husain Group had over 650 salons aroundthe world, employing about 4200 people. The net worthof the Group was $100 million.

12. The Cremica Group - The CREMICA Group, a widelydiversified food products company from India, is anacknowledged frontrunner in both food retailing andfood services industry. Established as a small enterpriseby Mrs. Bector, a passionate food enthusiast, threedecades ago, the group is today known for its lipsmacking range of Sauces, Mayonnaise, Toppings,Syrups, Biscuits, Indian Snack Foods, Stabiliser Blendsand Ice creams. Through its commitment to taste andquality, CREMICA has emerged as a preferredconsumer brand and a leading supplier to Indian and

global food majors.13. Shri Mahila Griha Udyog Lijjat Papad (SMGULP):

The entrepreneurial success of SMGULP is noteworthy.


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SMGULP was a cooperative system in which womenover the age of 18 could become members. Startinghumbly, with an initial capital of Rs 80, borrowed froma local money lender and social worker, SMGULP grewphenomenally. In 2002, it had a turnover of Rs 3 billionand exports worth Rs.100 million. It employed 42,000people in 62 divisions all over the country. SMGULPwas the brain child of seven semi-literate Gujaratihousewives, who started a venture to create asustainable livelihood using the only skill they hadcooking (Kollan and Parikh, 2005).

14. K Srujana Reddy, 30, never thought silica sand wouldmould her into a full-fledged entrepreneur. When theidea of trading in silica sands used in automotiveindustry struck her in August 2006, her middle-classfamily, though welcomed it with scepticism, but wentalong. What started as a modest consignment of 125 kghas now grown into a producing capacity of 1,000tonne a month and a business worth Rs 3.4 crore ayear. Reddy boasts of clients like Tata Motors, AshokLeyland, Toyota Kirloskar Motors.

15. The case ofVandana Maheshwari, is no different. She,then 29, started making PVC sheets for car dash boardsand white panels. The business that began with acapital of Rs 2 crore in 1995, fetches her a turnover ofover Rs 7 crore at present. Tata Motors is her mainclient.

Conclusion

Independence brought promise of equality of opportunity in allsphere to the Indian women and laws guaranteeing their equalrights of participation in political process and equal opportunitiesand rights in education and employment were enacted. Butunfortunately, the government sponsored development activitieshave benefited only a small section of women. The large majority ofthem are still unaffected by change and development activities as

they have benefited only a small section of women i.e. the urbanmiddle class women. The large majority of them are still unaffectedby change and development. Promoting entrepreneurship forwomen will require an even greater reversal of traditional attitudes


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than the mere creation of jobs for women would. This does notmean that we should wait for societal change to take place first. Butit does imply that the programme should go beyond subsidies andcredit allocation to attitudinal changes, group formation, trainingand other support services.

Women are natural networkers and relationship builders,forging powerful bonds and nurturing relationships with clientsand employees alike. In business this translates into establishingrapport with clients and providing great customer service. Womenshould not undervalue their abilities especially in service-basedindustries where they may charge by the hour instead of charging a

fee on the merit of knowledge or service rendered. Adopting value-based charges and charging per project (not on weekly or monthlybasis), will help women entrepreneurs gain the actual worth of theservices rendered. Women have to learn to juggle family withbusiness. It is important to sustain a personal life and balance familyobligations with professional ones, if they are to be successful andhappy. Women also need to be twice as persistent and assertive tomake their presence felt in a predominantly male business world.Remember, if women want a thriving business they must marketthemselves and take credit for their achievements. Though sidelinedas the weaker sex for long, with encouragement, support and aconducive environment, woman entrepreneurs are fast becoming aforce to reckon with in the business world.

References

Gatewood EJ, Brush CG, Carter NM, Greene PG and Hart MM (2004)Women Entrepreneurs, Growth and Implications for the classroom.Coleman Foundation White Paper Series for the United States Association

for small Business and Entrepreneurship United States

Gupta CB and Srinivasan N P (2000) Entrepreneurship Development inIndia. Sultan Chand & Sons. New Delhi.

Kollan B and Parikh IJ (2005) A Reflection of the Indian Women inEntrepreneurial World. Working paper. Research and publications. IIMAhemdabad. Pp 1-5.

Pandit V (2003) Business @ Home. Vikas Publishing House Pvt Ltd. New

Delhi.Shridhar B (2005) Women as Entrepreneurs. The HinduDecember 14,

2005.


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Vishwanathan R (2001) Opportunities and Challenges for Women in

Business. India Togetherwww.indiatogether.org

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