Women Entrepreneurship for Economic Growth and Development: A Framework
JAMNALAL BAJAJ INSTITUTE OF MANAGEMENT STUDIES PROCEEDINGS OF INTERNATIONAL RESEARCH CONFERENCE 2014
14 Pages Posted: 15 Oct 2014
Date Written: October 11, 2014
The entrepreneurial development process for women in India is increasingly being recognized as an important untapped source of economic growth since women entrepreneurs create new jobs for themselves and others and by being different also provide society with different solutions to management, organization and business problems. Women entrepreneurs see the world through a different lens and, in turn, do things differently. Daniel Pink’s book A Whole New Mind makes a case that in the twenty-first century, the most important growth industries will be in the realms of beauty, empathy, harmony, and other aesthetic and quality of life values. He makes the case that Asia, Automation, and Abundance will dictate this transformation. The author refers to a future in which both the left brain — analytical — and the right brain — intuitive and holistic — will be more valued than they have been in the past, especially when used together. It seems likely that the future will favor women entrepreneurs to a greater and greater extent.
Even though we recognize that the journey of a woman entrepreneur is laid with huge challenges, the major one of them is the availability of finance at different stages of the life cycle of the enterprise. We would like to study this problem from both the demand and the supply side. This paper endeavors to create an awareness about the contribution of women enterprises to the economic development and also the need for creation of a vibrant entrepreneurial ecosystem for women entrepreneurs. This study is primarily based on extensive secondary research and insights drawn from own experience.
Keywords: Women Entrepreneurs, Women Enterprises, Access to Finance, Entrepreneurial Eco-System
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