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

major obstacles (Das, 1999). Women are socially programmed to be more reserved, introspective, and
preoccupied with domestic duties. Some of the difficulties are deficiency in managerial expertise and maturity

levels, deficiency of business-related knowledge, deficiency of funding, and lack of achievement motivation,
a fear of taking risks, illiteracy, the weight of familial obligations, gender inequalities at the family and societal

levels & shyness in business interactions (Singh & Saxena, 2000). The lack of adequate marketing assistance,

poor infrastructure support, and easily accessible and reasonably priced working capital and equity financing
are major obstacles for women entrepreneurs (Ganesan, et. al. 2002). According to reports, women business

owners face a range of social, personal, marketing, mobility, government support, financial, production, and
labor-related problems, along work life balance and home responsibilities and a lack of technical skills

(Dhameja, 2002). The absence of formal funding due to insufficient collateral, marketing challenges, and

difficulties with job and family obligations, poor self-confidence, a lack of business-related knowledge,
shyness and uncertainty in dealing with customers, and a lack of company space are regular obstacles (Sinha,

2003). While some of the obstacles faced by women company owners are particular to them (gender specific),
others are universal (Munshi et. al., 2011).

Conclusion:

The demographics of entrepreneurs have changed as more women participate in the commercial world
as entrepreneurs or firm owners. Academics are focusing on this intriguing phenomenon since women-owned

firms are becoming increasingly involved in society and the economy. Entrepreneurship and skill development

have always been seen as the foundation of economic growth. It is widely recognized that the level of
entrepreneurial activity in a region significantly impacts its economic growth. The development and training

of entrepreneurialism is thus one of the crucial elements for the growth of micro and small businesses (MSEs),
particularly for first-generation entrepreneurs. To carry out this work on a regular basis, the government has

established three national-level Entrepreneurship Development Institutes (EDIs). They include the National
Institute for Entrepreneurship and Small Business Development (NIESBUD), Noida; the Indian Institute of

Entrepreneurship (IIE), Guwahati; and the National Institute for Micro, Small, and Medium-Sized Enterprises

(NI-MSME), Hyderabad. The Program for Assistance for Enhancement of Training Infrastructure of Existing
and New Entrepreneurship Development Institutions has also been put into practise by the government (EDIs).

The main objectives of the programme are to: (i) promote entrepreneurship so that individuals can launch their
own firms and obtain self-employment; (ii) facilitate the development of training infrastructure; and (iii)

support entrepreneurship-related research. In response to the growing significance of skill development and
entrepreneurship, the government established the “National Skill Development Mission” and “National Skill

Development Policy”. The “National Skill Development Policy” intends to encourage ownership of skill

development efforts by all stakeholders, build a highly trained workforce, and foster entrepreneurship
responsive to the changing demands of the labour market. Additionally, it aspires to give everyone the chance