The word “Entrepreneur ” translates into “Adventurer” in French. When a woman sets out for a “business adventure” the word entrepreneur is preceeded by “woman”. This changes the complete connotation.
Although “Women Entrepreneurs” have hit the business sector with a storm ,yet the challenges they face in comparison to their male counterparts are immense.
Here are few challenges faced by women entrepreneurs
1) A Man’s world
Most of the developed countries and India in particular is a male dominant entrepreneurship country. Gender biasness has always been a big obstacle in path of female entrepreneurship.
Although the scenario is rapidly changing but there is still long way to go.
2) Raising Funds
Women face lot of difficulty and discrimination in obtaining a venture capital. A large number of Indian women do not have property or assets to their names. Hence they encounter problems while applying for loans.
Also the family members do not encourage and hesitate to invest money in the business venture initiated by a women entrepreneur.
3) Socio Cultural Challenge
Men generally play a secondary role when it comes of household responsibilities. Most of the burden is shared by the woman of the house. So achieving the work life balance becomes a far fetched dream and an exhausting one as well.
4) Building a support network
With the present age of social media, networking is the thumb rule. The success of any business depends on the access to connections and equity with people who can help.
Women entrepreneurs need to shift from “what you should know” to ” who you should know”.
Women face a stiff competition from men due to their limited mobility.
Traveling around is still a tough job for lower middle class women entrepreneurs of India due to their primary responsibility towards family.
6)Low Risk bearing Ability
In India women lead a protected life and most of them are not economically self dependent . These factors reduce the ability to bear risk.
Risk bearing is a requisite of a successful business.