Page 65 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

.Sarkar and Kumar, 2022). India now has one of the lowest percentages of female labour force participation
(23%) among developed countries. According to some estimation, rebalancing the female force might boost

India's GDP by 20 percent. While considering the causes of gender inequality, a number of problems come to
light such as less demand for women in the workforce than for men due to factors including the nature of the

company, the location and safety of the workplace, maternal benefit programmes, etc. With no obvious avenue

appearing to absorb a growing population of educated women, the shift from a labor-intensive agrarian to a
more mechanised industrial economy is harming women. India has to invest more in industries that support

women both as employees and business owners. Unpaid care labour is a significant portion of what women of
working age do; as the major caretakers for their families, women are constrained in their ability to seek out

paid employment. So, home-based (or nearby-based) enterprises can offer women a second source of income

and a path to economic and social empowerment. Yet, launching and expanding such firms is difficult due to
a lack of mobility, unequal access to markets, lack of ecosystem support, etc.

Challenges Faced by Women Entrepreneurs:
More and more women are pursuing entrepreneurship, starting new businesses, or expanding and

diversifying existing ones. But among other things, juggling work and conventional gender roles at home
continues to be difficult. Below is a detailed analysis of the literature that illustrates some of the difficulties

experienced by female entrepreneurs:

 Financial Difficulties: Financial difficulties are related to limited access to resources. Given that man

often control the family's income; women do not have access to these resources. The family members

are reluctant to risk using family assets as collateral when applying for loans. Their capacity to obtain
financing from the market (banks, NBFCs, or open market) for operating and/or growing their business

is significantly hampered by this. But for female business owners, finding the money to fund ongoing
operations is difficult, including buying supplies and paying staff' salaries. Women entrepreneurs are

particularly vulnerable financially. The complicated process (in terms of meeting the eligibility
requirements and documentation procedure) to get a bank loan typically deters women from starting

their own business.

 Production Obstacles: To ensure uninterrupted production, a consistent supply of raw materials and
enough stock backup are needed. The process of acquiring raw materials is laborious and time-

consuming, and it is hampered by price differences. According to data, due to the difficulties in the
production process, there is little involvement of women entrepreneurs. When running a business in

the manufacturing industry, a woman entrepreneur must coordinate several tasks in a timely manner;
failure to do so (improper or delayed execution) results in production issues. All of this frequently

discourages women from starting production-based businesses.