How Women Entrepreneurs Can Start Business in India
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There's no denying that there has been an upward trend in women pursuing their entrepreneurial aspirations. According to a report by credit bureau TransUnion CIBIL, women are increasingly overcoming one of the biggest obstacles in entrepreneurship—access to finance. Last year, the number of women taking business loans increased by over 15%, and they're making up a growing share of the credit-seeking population in semi-rural and rural areas.
A few examples of such Women entrepreneurs who've defied norms and taken risks abound. Their stories are a testament to the fact that no matter how many obstacles you face, if you have the grit and strength of purpose, it's only a matter of time before you reach your goal.
While the term "entrepreneur" is now a popular one and gender neutral, it still raises eyebrows whenever women defy preconceived social expectations to set up their own businesses. These women are not only inspiring but also overcoming obstacles and demonstrating that they can achieve success in their own way.
However, despite this rising trend, the number of female entrepreneurs in India remains significantly lower than men's. This can be attributed to several factors, such as lower personal financial assets, limited access to finance and limited capacity for risk-taking.
Moreover, illiteracy, lack of public Internet access points and unsafe or inconvenient locations for women are some major barriers that prevent low-income women from starting their own enterprises. These barriers, coupled with low risk-bearing ability and lack of family support, limit the growth of a woman's business.
Nonetheless, these barriers are beginning to crumble and are being overcome by women with innovative ideas and unique approaches to business. These entrepreneurs are leading the way for other women to follow suit.
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