Independence Day: As an independent nation, why we now need to shift our focus to women entrepreneurs

On 15th August 2021, Incredible India will celebrate its 75th Independence Day. From 1947 till 2021 India has been transforming and exceeding towards a more robust future. The national holiday reminds us about our freedom and also the struggle, sacrifice, and the gratitude we need to show to our freedom fighters and constitution builders, who gifted us an independent life.

Though we gained independence in 1947, a few classes of society still face biases. Women have historically been considered second citizens. The status of women depicts the social, economic, and mental conditions of a nation, however, many are treated badly and unequally to men.

The rise of female entrepreneurs

Earlier, women weren't allowed to go out on their own, with the society observing patriarchal practices. But today, women are excelling in almost every field, be its sports, education, business, or the startup world. In many ways, this is a result of feminism which has empowered many women, and we are closer than ever before in achieving equity and equality.

The society of female entrepreneurs has proven that ‘nothing is impossible; one can do whatever they will dream of’. India has been doing its part in maintaining equity within the largest democratic country in the world, with India home to many successful women's businesses.

In March 2021, the government launched a programme called ‘Azadi ka Mahotsav’. It’s an initiative by the government of India to celebrate India’s socio-cultural, political, and economic identity, to uplift the living standard, and many other entrepreneurship funding programmes.

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Boost to industry

Technology emerged as a catalyst by introducing the latest marketing tools which not only boost the finances but also the reputation of the brand name. Due to this, India is stepping up with better and improved standards where the companies have to always update their ideas, views, approach, and targets in accord with the latest tools such as software, gadgets, bots, etc.

Changes are good, rightly proven by the technology. In the 21st century – the era of download, update, and bots – brands are progressing by shedding earlier methods of expanding their business, and switching to today’s click and post advantage.

Earlier, it took a lot of time in P2P marketing, but today, social media has connected the world with just a click.

Technological advancement is big, thanks to marketing which enhances a business’ reach using an infinite number of social media apps.

Miles to go

According to the recent report by National Sample Survey Organisation (NSSO), female entrepreneurs have only secured 14 percent or 8.05 million business establishments out of the prevailing 58.5 million. Further, it’s the small-scale companies that are leading this race of marketing women-run companies, 79 percent of whom are self-financed.

The situation across the globe remains lop-sided for women as well, 37 percent of businesses being run by them However, there are enough incentives for girls to become entrepreneurs such as flexible working hours for work-life balance, economic independence, and ownership.

Over 224 million women in 67 countries, according to World Bank, are contributing significantly to the world economy and this in itself is an incentive for women entrepreneurs.

However, many more women can still be encouraged to open businesses using the existing rules and schemes that give female entrepreneurs income tax benefits, registration benefits, access to government tenders, and networking opportunities.