Problems in the Growth of Women Entrepreneurship
In India, there are several problems regarding the growth of women’s entrepreneurship, which are given below
1. The absence of a Definite Agenda for Life
Educated women do not like the limitation of their lives within the narrow boundaries of the house. They want equal opportunity and respect from their partners as well as from society. However, in India, some women have reached good positions in the business world. Yet, most of the women are either illiterate or semi-literate in rural India. They haven’t got a proper idea of self-esteem and self-respect. The question that arises immediately is how they can attain self-respect and have a definite agenda to reach a good position in society.
2. An absence of Balance between Family and Career Obligations
Women, in general, are concerned about family duties. They show no equal concern for the duties in a career. Women in India dedicate many of their lives to the welfare and care of their family members. But they fail to use their talent to create an extra income source for their families. It will also make them self-reliant. Some women have no idea of self-reliance and can never think of it. But women need the support of family members to succeed in business and expand their business and management.
3. Poor Degree of Financial Freedom
There is very poor financial freedom for women in Indian families, especially in uneducated and rural families. Women in these families can’t make any decision on their own to take up entrepreneurship without the family members’ consideration. They have to consider also social ethics and traditions for women. A woman can’t commence any business or any economic activity to become independent, even if she is financially dependent. Thus, the dependency has become a vicious one for women in India.
4.No Direct Ownership of the Property
There is no doubt that the property right is given as a legal provision in India. But the right to property for women is still a question mark. Very few women have, on paper, the property right, but they are actually not aware of this right. They become aware of it when there are problems in the family due to family disputes. Most of the women do not enjoy their property right and they have been treated just as family members. It is a cause that keeps them in a ‘pervasive cycle of poverty.
5. The paradox of Entrepreneurial Skill and Finance
Women from both economically poor and rich families suffer from the paradox of “having and having no skills of entrepreneurship. Women from economically rich families have the capital to invest, but they may lack good entrepreneurial skills. On the other hand, women from economically poor families have good entrepreneurial skills, but they don’t get any financial support from their family members or relatives. Thu,s the problems of women’s entrepreneurship are in a state of paradox.
6.No Awareness about the Capacities of individuals
Capacity should be created by increasing the level of education. It is very unfortunate that the educational system in India is facing a failure in creating awareness of the ability and capacity of women and their hidden talent and power for handling economic activities. There is an increase in the level of education for women and social awareness of the role that women play in society, but it applies only to women in urban India and not in rural India. The environment in the urban area is favorable for identifying and creating awareness about women’s capacity and capability for doing many things. On the contrary, the atmosphere in rural areas is unfavorable for identifying and developing the capacity and ability of women.
7. Low Ability to Bear Risk.
Women in India are taught several things naturally to depend on the male members of their family from their girlhood period. They are prevented from taking any risk, even if they are ready to take any risk and have the ability to bear it. But despite the restrictions put on women, some women have proved that they have the capacity to face and bear risks in entrepreneurial activities. They have identified their rights, capacities, and potentials, and become aware of the potential situations. As a result, they have entered various businesses and professions. Therefore, the government should try to conduct many awareness programs for women to make them identify and develop their risk-bearing capacities.
8. Problems of Work with Male Workers
It is true that many women have skills for doing business, but they hesitate to work with male workers, and sometimes male workers are not ready to work with women entrepreneurs. Most women entrepreneurs think that the semi-educated or uneducated class of workers cannot visualize and accept a “female boss” in their work field.
9. Negligence by Financial Institutions
Banks and financial institutions play an important role as financiers to entrepreneurs in developing countries, as small and medium-sized firm operators do not borrow from the capital market. But these banks and financial institutions underestimate women entrepreneurs and are reluctant to provide credit to them because of their traditional mindset about women.
10. Lack of Self-confidence
Women have a strong mental outlook and an optimistic attitude, which creates fear in them of committing mistakes while working. Women’s potential for entrepreneurial development cannot be accepted by their family members and society, which always looks down on them. Women must face boldly such situations and develop their 68 self-confidence to break such barriers, but women in India feel that they need a well-secured life to develop their self-confidence. Thus, they are not both mentally and economically self-reliant.
11. Lack of Professional Education
The main causes of the low rate of women entrepreneurship in our country are poverty and illiteracy. Parents are unwilling to send their daughters to study professional education. Sometimes, many women lack an entrepreneurial bent of mind, even though they take training through attending the entrepreneurial development program.
12. Mobility Constraints
They never like to leave their place for business activities and prefer to stay and do business in their residential areas. Mobility is an important quality for an entrepreneur. Women entrepreneurs tend to do business in their local area of living and are seen disproportionately in their areas of birth or living.
