Do Indian homemakers aspire to become entrepreneurs? If yes, what’s stopping them?

Homemakers in India are derided a lot. They do a lot of work, which is not counted as work. But we often forget that they, too, have dreams and aspirations.

India is one of the fastest-growing economies in the world and many experts believe that the country’s women hold the key to unlocking its full growth potential. The question is – do the country’s nearly 600 million women want to step outside their homes and pursue their entrepreneurial dreams and if yes, what is holding them back.

Britannia Marie Gold, through a nationwide survey, sought to find out what homemakers really want. What are the barriers they face if they want to join the workforce? Do they aspire to become entrepreneurs and be financially independent?

The Britannia Marie Gold Indian Women Entrepreneurship Survey  conducted by Nielsen among 1,267 non-working housewives. The respondents are based in cities of Delhi, Lucknow, Mumbai, Pune, Kolkata, Asansol, Chennai, and Coimbatore in the age group of 25-45 years belonging to the New Consumer Classification System (A and B).

Key takeaways from the study

Nearly half (48 percent) of the respondents said they had dreams and aspirations to start a business or pursue a hobby to make money when they were younger.

One in two aspired to be financially independent when they were younger.

Of homemakers who said they aspire to start their own business or pursue a hobby to make money, 69 percent said that the greatest barrier is lack of sufficient funds, 63 percent said home responsibilities take up most of their time. Another 39 percent said a lack of guidance while 36 percent reported that it’s a lack of confidence stopping them.

Out of the homemakers who said they have dreams and aspirations to start their own business or pursue a hobby to make money, the top types of businesses they would like to launch are tailoring (36 percent), beauty parlours (28 percent), opening a boutique or a shop (26 percent) and starting home tuitions (20 percent).

When asked what would help homemakers start their own business, 62 percent said financial/funding support while 51 percent felt self-confidence and counselling are what they would most need.

When asked why they would want to start their own business or pursue a hobby to make money, 64 percent said they wished to  gain financial independence while 54 percent said they want to create their own identities.

Nearly all (92 percent) of the respondents said it would make them happy to see their daughters and the next generation of women run their own businesses.

When asked why,  66 percent said it would give them more self-esteem, 64 percent said it would help them gain financial independence and 62 percent said it would help them create their own identities.

Ali Harris Shere, VP - Marketing, Britannia Industries, said, “Homemakers are constantly caught up in daily responsibilities of looking after the family. Too often, their own ambitions fall by the wayside. The new generation of homemakers, however, seek to ensure their personal interests do not take a back seat. This research proves our observations and identifies barriers - financial support, guidance and confidence - that we want to help address.” Britannia Marie Gold’s My StartUp initiative champions homemakers with the ability to find reserves within them to ‘Do More and Be More’. Ali Harris Shere added, “The initiative fuels homemakers to go ahead and launch their own ventures, contributing to their families and the overall economy.”