Concept of Women Entrepreneurship
Women all over the world hold around half of the population. Many of them are turning themselves into entrepreneurs. women entrepreneurs may be defined as a woman or group of women who initiate, organize and run a business enterprise. In other words, women’s entrepreneurship involves initiating, managing, and controlling an enterprise by women.
Women entrepreneurship has become a growing concept in world economics. It offers a significant opportunity to women for self-employment as well as generating employment for others. women entrepreneurship surpasses the concept that entrepreneurship is only the function of males: They are ‘also, equally capable of initiating, organizing and running a business successfully.
Women entrepreneurship is found to grow significantly in the developed countries like the USA, Canada, Australia, and Germany. However, its condition in the least developed country like Nepal is still in the infant stage.
Some women are involved in entrepreneurship to meet their financial obligations, some others are involved due to their will of independence and achievement. Women entrepreneurship promotes women empowerment.
The following are some of the notable definitions of women entrepreneurs.
Women entrepreneurs are women, who innovate, imitate or adopt a business activity.
Women entrepreneurs are those women who think of a business enterprise, initiate it, organize and combine factors of production, operate the enterprise and undertake risk and handle economic uncertainty involved in running a business.
Un Secretary-General Ban Ki-Moon______
Countries with more gender equality have better economic growth. Companies with more women leaders perform better… Parliaments with more women enact more legislation on key social issues such as health, education, anti-discrimination, and child support. The evidence is clear: equality for women means progress for all. I also have a message for my fellow men and boys: play your part. All of us benefit when women and girls — your mothers, sisters, friends, and colleagues – can reach their full potential.
From the above discussion and definitions, it may be concluded that women entrepreneurship is entrepreneurship by women mainly directed towards economic independence and individual empowerment.
Issues to Consider in Fostering Women Entrepreneurship
Women entrepreneurship has become a growing issue. It is very important from the perspective of economic prosperity and women empowerment. The following are the main issues to be considered in fostering women entrepreneurs.
1. Government rules, regulations, and policies:
Government rules and regulations are very important for the promotion of women’s entrepreneurship. The government can improve overall regulatory environments to ensure inclusive and sustainable industrial development that supports gender equality. There should not be biased in-laws and regulations and discriminatory practices in service provisions.
2. Green approach of entrepreneurship:
Women entrepreneurs play a leading role in managing environmentally sustainable businesses. This example can be used to make a green approach to business across the economy. Women entrepreneurs should be provided with the assets, resources, and incentives to support the green economy.
3. Enhancement of the entrepreneurial role of women:
Women’s entrepreneurial activities should be scaled up to take it to the formal sector of the economy which currently seems like the informal sector Public-private partnerships should be promoted in ensuring greater leverage, scale, and systematic impact of women entrepreneurship.
4. Enhancement of competitiveness:
The competitiveness of women entrepreneurs should be enhanced. Women’s access to business development services, technologies, and finance should be promoted and increased. Education and training systems should be designed to nurture innovation and enterprising attitudes among women.
The societal and internal barriers to women’s entry to markets should be removed. These barriers are the lack of education, skills, or confidence of women entrepreneurs. They restrict their ability to fully engage in the economy. The discriminatory norms and beliefs should be addressed.