India has been witnessing a prominent growth in the number of aspiring women entrepreneurs. The young generation woman has become more dynamic than before and is open to taking risks and challenges for the right returns. One such example is Priyanka Malhotra, who is a successful woman entrepreneur. She has started up a business of book publishing and also has her own cafe. Priyanka thinks differently about the idea of scaling up her businesses and also encourages young women to become entrepreneurs.
According to a study conducted by Dell, it was found that India is the ideal country for a woman starting a business in 2012. In this study conducted on 450 women entrepreneurs across India, the US and the UK revealed that Indian women entrepreneurs are highly confident on their business growth compared to counterparts in the US and the UK.
The study showed that women entrepreneurs in India expected a 90 per cent growth in their business over period of five years compared to 24 per cent and 50 per cent growth in business expected by entrepreneur in the UK and the US respectively. Even in terms of technology usage, around 90 per cent of women entrepreneurs in India said they are using technology to support day-to-day operations. However, this trend was low in women entrepreneurs in the US and the UK at 80 per cent and 70 per cent respectively.
However, getting funds for their business seemed to be one of the biggest challenges for women entrepreneurs across geographies. Indian women entrepreneurs find banks or credit unions as the most difficult source for obtaining funds.
It is clearly understood from the statistics above that these women have very high aspirations and goals for their businesses but somewhere face difficulties in certain areas of their business. In such an instance, a formal training in entrepreneurship may be very useful for budding women entrepreneurs, as a formal training will expose them to various sorts of business and challenges.
Expressing his thoughts on the growth of women entrepreneurship in India, Dr. Cheema who is the Dean at iFEEL(Institute of Future Education, Entrepreneurship and Leadership), says, “Looking at such high aspirations, it is important that these budding entrepreneurs must be given a strong base in terms of knowledge and skill sets to set up their own ventures in the future. iFEEL as a management institute with a focus on entrepreneurship and leadership, fills in this requirement by providing the right training and skill sets to aspiring entrepreneurs and leaders. The courses here are designed in a way that students get to learn the two most important aspects of management, entrepreneurship and leadership in an engaging, innovative way. In order to encourage more women to groom their skill sets in this area, our college also offers special scholarship opportunities to female students. Given the right kind of support, women will definitely lead successful business ventures in our country.”