Challenges Faced by Women Entrepreneurs
In India, being an entrepreneur is no easy task. Further, women in business find it even harder to take up and excel at entrepreneurship. With only 15% of Indian Unicorns having women founders, there is work to be done to bridge the gender gap. Let’s try to understand what are some of the most pressing problems faced by women entrepreneurs.
- Limited support: Even though more women are stepping into the entrepreneurial sphere, they still face significant resistance from their families, relatives and peers. This is due to society’s traditional notions and the negative perception that women are not a good fit for leadership roles. The backlash from their immediate ecosystem hinders women business owners from getting the initial kick-start for their careers.
Additionally, women find it hard to balance their familial responsibilities and business ventures. They are expected to settle down, raise children and take a break from their business to prioritise their families. Entrepreneurship is a time-consuming and physically and mentally demanding task. Women business owners often find themselves coming into conflict with their families and even feel guilty about prioritising their work.
More people need to understand that women have ambitions as much as the need to raise a family. With a bit of support from their partners and other family members, women can accomplish great feats. Society as a whole needs to liberate itself from stereotypes and be more supportive towards budding women entrepreneurs.
- Lack of role models:Another factor that slows down their take-off is the fact that there is a deep deficit of mentorship from the business community. When women don't see their struggles reflected in other business leaders, it becomes difficult for them to bridge the gap between their current performance and future goals. The business ecosystem needs to be more inclusive of women and welcome them with an open mind.
- Safety and travel issues: A workplace is where you spend most of your waking time. However, the deteriorating state of law and safety acts as a hurdle for women. Even in metropolitan cities, they are not able to spend as much time as they would like in their workspace because of safety risks. This is especially harmful to women who require frequent commuting to manage their business endeavours.
This limits women from reaching their true potential. This problem can be countered by tactful law and order enforcement and a robust judicial system, among other solutions.
- Male-centric business environment : It is a hard reality that many sectors are still considered as something better understood by men. Both men and women are conditioned to work as per traditional gender roles. Women are expected to either stick to familial responsibilities or pursue professions that are “women-friendly”, such as apparel and beauty, among others. Although this situation is gradually changing, women today are still facing significant challenges in breaking these stereotypes.
With many business domains predominantly male-centric, women find it challenging to take up entrepreneurship and become successful at it. Women need help to expand their knowledge, experience and capabilities in such conditions. Thus, more leaders, both men and women, should create a space where more women are welcome to learn and be productive.
- Absence of entrepreneurial ecosystem :Entrepreneurship is equivalent to having a workshop where you can actualise your visions into a concrete reality. The journey of building something from scratch involves a thorough process of learning and upskilling. An absence of an entrepreneurial environment which can enable these processes makes it difficult to become productive and churn results.
On the other hand, an environment that is budding with energy and ideas from like-minded people gives them the opportunity to interact and grow. Such an ecosystem usually comes with all the necessary amenities to help foster creativity and entrepreneurial ventures.
When it comes to putting your best foot forward in entrepreneurship, you need the right ecosystem, support and a firm belief in your vision. Trehan Iris firmly believes that women in business can flourish their business by finding themselves in a system that is supportive and bustling with entrepreneurial energy. In order to help women in business turn their ideas into reality, Trehan Iris Broadway Greno West brings them a workspace solely dedicated to women entrepreneurs. Called the Verve, this floor celebrates the spirit of entrepreneurship by giving women a platform to actualise their ambition and take their businesses to the next level. Here, you can learn and grow by being in the vicinity of other women entrepreneurs. Such an environment gives you the drive and courage necessary to keep moving forward. Additionally, Greno West comes with spacious conference rooms as well. Here you can host meetings and presentations to get a bird’s eye view of your vision.
Located in the bustling Greater Noida West, this mixed-use development has all the necessary amenities and location advantages that a business and its people require to expand. It is easily accessible from lively roadways and the metro so that you commute safely to your workstation. Here, the next big name in the entrepreneurial sphere is set to emerge, and Trehan Iris feels honoured to be witnessing this breakthrough.