THE SECRET POWER OF WOMEN ENTREPRENEURS

• Ø   (Relevant for Sociology Syllabus: Paper 1- Social Change in Modern Society & Paper 2- Visions of Social Change in India)
• Ø  (Relevant for GS Syllabus: Paper1- Social empowerment)

• Since ancient times, women are perceived as a source of power, and in some ancient cultures, they are worshipped as goddesses, but the reality is skewed and does not hold compared to instances of the real world.
• For a long time, society accorded women as the weaker sex incapable of making big decisions and responsibility. Earlier, running a business was thought to be a profession reserved only for men.
• The world perceived women-owned firms as a small lifestyle hobby. The male-dominated business model was considered as the natural model of doing business.
• In the past, society perceived women as caretakers, caretakers of homes and children, and the idea of women involved in the business was palatable by society.
• During the 18th century, it was famous for women to own certain business-like tavern and alehouses. These businesses were not a personal choice but were instead pushed on them because of economic or societal oppression.
• Women have made great strides in the struggle for equality, mainly through education. The world has now come a long way. For most of the educated world, women enjoy equality and freedom in various fields.
• Due to more progressive thinking and the rise of feminism, women entrepreneurs have been widely accepted by society and the world. In the business world, women-owned entities in the formal sector represent 37 per cent of enterprises
• Women entrepreneurs across the globe have crossed the bounded societal spectrum of businesses as a hobby. They are now running micro to mega enterprises supporting millions of lives worldwide and generating an unproportionate amount of wealth.
• Recent studies suggest that women-owned firms are more successful than men-owned firms. Various studies have indicated that women have a higher sense of autonomy and personal achievement, making businesses owned by them more likely to succeed.
• Women entrepreneurs often have a strong internal locus of control and perceive change as an opportunity, and are willing to take a careful risk. Compared to men, women have better social skills and balance intuition and thinking, traits highly valued to be an entrepreneur.
  Hilary Clinton once said, “Women are the largest untapped reservoir of the world.”
• Studies suggest that women’s entrepreneurship at its full potential adds 150 to 170 million new jobs. Fueling the entrepreneurial spirit and providing necessary support to women entrepreneurs promises to change the economic and social trajectory of the world and its women for generations to come.
• According to Neha Bagaria, founder of JobsForHer once said, “A major shift in mindset is needed in creating suitable conditions to facilitate and encourage women entrepreneurs as a current network are heavily dominated by men, and it, therefore, becomes intimidating and difficult for women. There is also a need to create greater accessibility to financial services and nurture supportive entrepreneurial conditions for women.” With that being said, it is necessary to nurture entrepreneurial values among girls at a relatively young age.
• Such educations teach kids to follow their passion, being bold and realize the importance of being independent and self-reliant. One should also teach their kids that being an entrepreneur does not mean giving up on family and leading an isolated life.
• Instead, it is a life choice, and societal stereotypes about women and marriage are mutually exclusive to this choice. On the global level, women compromise about 24 per cent of corporate senior management positions.
• The gap is enormous; there is still a lot of work needed to close the gap. Women entrepreneurs are an inspiration for millions of women and girls worldwide by their work and success. Oprah Winfrey, Indra Nooyi, Gina Rinehart, and many more have shattered all societal norms and barriers to emerge as world leaders.
• These women are an inspiration to many around the world, inspire to grow, to dream, to be brave, and chase their passion. This power to inspire is the secret power of women entrepreneurs.
  One should always believe in themselves.
• We see so often extraordinary women working against odds in their communities that are unimaginable to many of us. They work harder with perseverance in their dream and the legacy that they will leave behind.
• Surround yourself with people who are better than you, take inspiration from people who are doing great. Only then can taste success in life. Be your own master, neglect all the negativity that surrounds you, and never stop growing.