If you are a woman who wants to start your own business, getting the right kind of help, networks, and a mentor can help you feel strong in your choices. There has been a lot of business and economic growth in the country because more women are starting their own businesses. Women-owned businesses are very important to society because they create jobs, change demographics, and inspire the next generation of women to start their own businesses.
With the goal of supporting the long-term growth of women entrepreneurs for balanced growth in the country, Startup India is dedicated to boosting women's business ownership in India through Programmed, initiatives, building communities and networks that make it easier for people to do business, and encouraging partnerships between different groups in the startup ecosystem.
1. An overview
Self-employment is becoming more and more appealing to women, and more and more of them are deciding to start their own businesses.
Talking to other businesswomen at different stages of their journey, getting help that is suited to your needs, learning from role models, and working with a mentor can all help you develop your business idea and come up with plans for its future growth.
They put on events for women in business called Women into Business. They let you share your thoughts with other businesswomen in the area and help you get better at running a business.
This guide will help you find and use the support systems that were created to help women in business. It will also point you in the direction of some organizations in India that can help.
2. How enterprising are Indian women?
An exact definition and list of women's businesses can be hard to come up with, but about 21% of India's small to medium-sized businesses are run mostly by women, and another 19% are run evenly by women and men. Men are still almost twice as likely as women to start their own stores.
While the low number of women entrepreneurs is a problem all over the world, India's rates of female business ownership are consistently lower than those in other high-income countries. It's easy to see how big India's "gap" in business is by thinking about how many more businesses India would have if women owned as many businesses as men did. This would mean that India's business base would grow by 32%.
Businesses run by women make a big difference in the Indian economy. Women-run businesses are thought to add at least 5 billion rupees to the economy every year. Rates of businesses run by women would be the same as rates of businesses run by men. This would mean that the Indian economy would grow by 5.3%.
In India, there is a lot of ambition and growth among businesses that are run by women. In 2012, Women's Enterprise India did a poll and found that 87% were hoping to grow and 27% wanted to grow quickly.
3. How enterprising are Indian women? (To continue)
Women are interested in starting their own business for many reasons. Running a business is a great way to learn new skills in many different areas. It can also help you build a challenging and rewarding job and become financially independent.
Some women have part-time jobs while they start their own businesses. The chance to work on their business idea is given, and the possible financial danger is contained.
Others can set their own hours for their new business. In this way, they can take care of their home or other obligations while they start the business.
Today, more and more women play important roles in family-run businesses.
If you're thinking about going into business for yourself, you should know that there is a lot of help out there for women businesspeople.
4. Starting your own business as a woman
it takes a lot of different skills to run a business. You will have to deal with money, promotion, administration, and the law in addition to making a product or providing a service. You might also have to deal with hiring people, health and safety, and other things.
If you don't think you can handle all of this, don't worry. Not many people can. Glad to hear that you can learn all of these skills. In India, there are lots of classes you can take. There are some of these that were made just for women.
Talking to other women who have started their own businesses can be helpful. Another thing you might want to do is work with a trainer.
Networking can be a very important way to get help and knowledge. It can make you look better and help you find new business. Networking can also help you learn new things and get better at what you already know.
Along with business skills, women who are successful as businesspeople often have certain personal traits. They are usually very creative, energetic, determined, and not afraid to take risks. They are also very good at fixing problems.
But even if you have these traits, you should still be ready for some setbacks. It can be hard to start a business, and things don't always go as planned. Your business can be successful, though, if you work hard and know what problems might come up.
Utilize the free help that is offered by our Local Branch office. To get help from ProMunim, call 1800 266 1294.
5. The things women say they need from business help
In India, there is more and more evidence that shows how helpful it is to let women choose a more gender-focused method.
It would be helpful for women to be able to choose between a male and female business advisor, as well as to have training classes or events made just for women.
Support for women takes into account care for others or family duties, offers safe, friendly, and easy-to-reach meeting spaces, and gives unbiased advice. The information is easy to find and doesn't use a lot of jargon. There are also links to other tools and help that are available.
And it's important to learn from others, whether you're just starting out or a long time into your business journey. A lot of women say that not having enough confidence stops them from moving forward and that having access to role models and guidance is very helpful.
6. India's Action Plan and Framework for Women's Business
to meet the need for businesses run by women in India, Women's Enterprise India's Framework and Action Plan for Women's Enterprise was made with the help of groups from all over India and the Indian government. Women's Enterprise India has a page where you can read it. It came out in early 2014...
The Indian Government's main goal is to make sure that all of its citizens can take part in and add to long-term economic growth. This Framework will make women's business a normal part of the economy, not just something for "special interests."
The Framework Action Plan lists actions that can be taken on a number of different themes. These actions will be turned into a set of ongoing and sustained activities that all private, third, and public sector partners will take part in.
the themes are Support for Women Only, Role Models, Markets and Finance, and Mentoring and Networking.
7. Events and places where women can get help
Women into Business events can help you whether you want to start a business or have been in business for two years. You attend a number of useful business courses and are given access to business experts and a group of people with similar interests.
Some of our branch offices put on events for women who want to get into business. Things like marketing, e-business, banking, business financial planning, and customer management are talked about at the seminars.
Going to Women into Business events is helpful in many ways. Meeting regularly will: improve your business knowledge and skills; grow your network; boost your confidence; open up new chances;
This can:
• encourage you to start your own business
• raise your chances of success and growth
It is free to go to these events and take part in workshops or training.
You can share your business ideas with other women in your area at Women into Business events and get better at running a business.
Other places to get help
India has a lot of area women's business clubs where you can talk about your business ideas with other women who are also business owners. The Association of Indian Businesswomen has a website where you can learn more about them. Federation of Indian Women Entrepreneurs (FIWE), a National-level organization, founded in 1993 and registered under the Society Act of India in May, 1999, is today, one of India's Premier Institution for Women thoroughly devoted towards Entrepreneurship Development in the country. (FIWE) is a group of business and professional women in India who work together to help each other.
Women's Enterprise India is a place where you can get all kinds of knowledge and help that is geared towards women. Women's Enterprise India partners with many groups in India and around the world to:
• GET MORE women in business to start and grow their own businesses or social enterprises?
• Letting women in India know about the help that is out there and where to find it.
Women should be able to have their say and push for women's business to be at the center of India's economic growth policy and strategy.
• CHANGING... how the government and the private sector think about, make policies for, and plan for the economic and business possibilities that come with more women owning businesses.
• GETTING THE WORD OUT about women's business in the media; removing any stereotypes and hurdles that keep women from reaching their full economic potential.
Read our guide: Help and support available for your start up