As the time is progressing, gender roles are switching and offering freedom to millennials to choose their own distinguished path. Regardless of being termed as masculine males, young men are taking up culinary roles and transforming into astounding chefs. On the flip side, maidens are stepping out of the domestic sphere and embracing rigorous professions--mechanical engineers, pilots, financial analysts and related. Female demographic has, in turn, moved forward into their career now and embarked on their entrepreneurship trajectory.
According to the Sixth Economic Census, which was led by the Ministry of Statistics and Programme Implementation, “Total number of establishments owned by women entrepreneurs was 8.05 million (13.76 per cent). These establishments provided employment to 13.45 million persons (10.24 per cent), out of which 83.19 per cent were without hired workers. About 88.8 per cent of the workers were employed in the establishments hiring less than 10 workers. Total number of Self Help Groups (SHGs) were 0.19 million out of which all women Own Account Establishments were 89 per cent.”
The figures inform that females are currently aspiring to become businesswomen and managing to realize their dream. They are grabbing opportunity to make the most of it and embracing challenges that are on their path.
The Indian supply chain and logistics space has always been a male-dominated industry. The moment one ponders a logistics or warehousing niche, an image of lorry drivers or other labourers moving bulks of goods comes into mind. Consequently, the academic institutions do not encourage females to make a career in the male-dominated supply chain management and logistics industry.
However, a major phase of disruption has initiated in this sector owing to the increased speed in technology. The companies, operating in supply management and logistics, are diversifying their talent group.
“The companies in supply management and logistics sector are finally recognising the fact that women can be great leaders due to their collaborative nature and willingness to listen and engage, which will be significant for the future of this industry,” CEO and Founder of SafeEducate, Divya Jain told BusinessEx.
“Proving your potential as a women entrepreneur helps create a change in social thinking through tangible work. Others' thoughts enable you to gather motivation to do various things single handedly, hop obstacles and direct your team to the right path,” Jain opined.
When a woman embraces entrepreneurship role, oodles of challenges come through her way--social stigma and discrimination are some of them. Instead of deterring if a female entrepreneur considers these problems as a trigger point then she can overcome half of her fears.
“Being a woman entrepreneur, sometimes, you are not taken seriously and that becomes your challenge. The protocol of a woman-led brand is not acknowledged by people many times, which ultimately comes out as a big failure for the company,” Charmy, Founder of Messy Bowl, shared one of few problems of women entrepreneurs.
Creating external assistance is not advisable if one does not know how to employ external funds in the right manner. In the initial phase of the business, it is important to become self-sufficient and thus, create one’s own space in the industry.
“Creating a USB is vital that helps create a space in the market; then, one need not worry about competitors. If your company shares a special recipe that no one else shares in the market then it is easy to ace the competition,” Charmi shares her success mantra
Ideally, aspiring entrepreneurs invariably search for a disruptive business idea that can yield ignoramus revenue. On the contrary, there are a handful who address societal problems, put aside profitability of business, and cater to the needs of the general masses.
When one works on a product, which helps alleviate gender-specific problems and atrocities, there are an array of additional problems that one has to deal with. The primary challenge every social enterprise grapples with is affordability of product.
“It is vital to understand the amount of patience it possesses to start a startup. Every aspiring entrepreneur is in delusion that I have started a startup and it is going to churn out money like anything each and every month. In reality, the startup needs to have a distinct idea about the audience it would be catering to and how. Understanding boundaries and limitations are important which startups need to apprehend in today’s time,” Vedakshi Gupta, Co-founder of P-Joy, who partnered with Swachh Bharat Mission in 2019.
When an enterprise targets sustainability and low-priced offerings, it has to combat several problems from pricing the products to making them customer-friendly.
“Preparing oneself for struggle and possessing patience are vital to attain success. It was difficult for the company to reduce the price of women hygiene products so as to make it affordable. However, we managed to accomplish our goals and serve females in the Indian society,” Stuti Arora, Co-founder of P-Joy, unveiled her struggles.