Role played by Women Entrepreneur in the economic development

11/10/2022 0 By indiafreenotes

In India, women dominate the micro enterprise sector both in rural and urban areas. According to the central statistical authority women account for close to 70 per cent of the micro enterprises in India are run by women. However, their participation in small, medium and large enterprises diminishes.

Beyond the participating in productive activities such as agriculture, trade and industry, women have multiple roles in society. They participate in productive activities such as agriculture; they are responsible for caring for the family including the preparation of food, health care and education. Women need to balance this different role and therefore they are multitasked, managing their businesses alongside all other roles they are expected to perform. Women account for a larger share of the informal economy operators, as well as those running micro and small enterprises in India .MSME‘s make a significant contribution to the socio-economic development of the country by way of supporting the people to earn money and make a contribution to family income, and by supplying basic goods and services for local consumption.

However this contribution is not fully recognise or understand, and there is little in the way research or statistics to provide a broader understanding of women’s experience as business owners, their contribution to economic development or the challenges they face in setting up, managing and growing their enterprise.

Promote empathy-led structures:

Another prominent factor that female entrepreneurs leverage in catalysing business and economic growth is promoting empathy-led structures. When you understand the workflow and build required or essential structures for the team or employees, it facilitates work, productivity, and business growth.

Strong financial performance:

Women-led businesses and enterprises have shown strong financial performance across industries over the past couple of years. More than money management, it is about the utilisation and investment of capital earned. Such crucial decisions make huge impacts on businesses in the longer run. Budgeting offers a better hold of the cash flow. Even at the time of unprecedented events, the financial performance can be sustained while managing the capital at hand in accordance with essential or needed growth.

Empowering female professionals:

The potential female professionals have is remarkable! Their ability, consistency, dedication, mindfulness, and accountability towards their work are beyond appreciation. While we empower female professionals with gender-balanced opportunities, we praise their abilities and innovation they lay on the table and their vision to grow, personally as well as professionally, while contributing to the collective growth of the organisation.

People development for business development:

Women have contributed to catalysing economic growth with a better understanding of what factors demand focus. People-led processes are the areas to look upon, and when we ease their difficulties, we overcome the hurdles. People ≥ Business, this in itself clarifies more on the co-dependency of people and business.