INTRODUCTION

“Women” as Entrepreneurs in India:

Women owned businesses are highly increasing in the economies of almost all countries.
The hidden entrepreneurial potentials of women have gradually been changing with the
growing sensitivity to the role and economic status in the society. Skill, knowledge and
adaptability in business are the main reasons for women to emerge into business
ventures.‘Women Entrepreneur’ is a person who accepts challenging role to meet her
personal needs and become economically independent. A strong desire to do something
positive is an inbuilt quality of entrepreneurial women, who is capable of contributing
values in both family and social life. With the advent of media, women are aware of their
own traits, rights and also the work situations. The glass ceilings are shattered and
women are found indulged in every line of business from pappad to power cables. The
challenges and opportunities provided to the women of digital era are growing rapidly
that the job seekers are turning into job creators. They are flourishing as designers,
interior decorators, exporters, publishers, garment manufacturers and still exploring new
avenues of economic participation.In India, although women constitute the majority of
the total population, the entrepreneurial world is still a male dominated one. Women in
advanced nations are recognized and are more prominent in the business world. But the
Indian women entrepreneurs are facing some major constraints like –

a) Lack of confidence – In general, women lack confidence in their strength and

competence. The family members and the society are reluctant to stand beside their
entrepreneurial growth. To a certain extent, this situation is changing among Indian
women and yet to face a tremendous change to increase the rate of growth in
entrepreneurship.

b) Socio-cultural barriers – Women’s family and personal obligations are sometimes a

great barrier for succeeding in business career. Only few women are able to manage both
home and business efficiently, devoting enough time to perform all their responsibilities
inpriority.
c) Market-oriented risks – Stiff competition in the market and lack of mobility of women
make the dependence of women entrepreneurs on middleman indispensable. Many
business women find it difficult to capture the market and make their products popular.
They are not fully aware of the changing market conditions and hence can effectively
utilize

d) Motivational factors – Self motivation can be realized through a mind set for a
successful business, attitude to take up risk and behavior towards the business society by
shouldering the social responsibilities. Other factors are family support, Government
policies, financial assistance from public and private institutions and also the
environment suitable for women to establish business units.

e) Knowledge in Business Administration – Women must be educated and trained

constantly to acquire the skills and knowledge in all the functional areas of business
management. This can facilitate women to excel in decision making process and develop
a good business network.

f) Awareness about the financial assistance – Various institutions in the financial sector
extend their maximum support in the form of incentives, loans, schemes etc. Even then
every woman entrepreneur may not be aware of all the assistance provided by the
institutions. So the sincere efforts taken towards women entrepreneurs may not reach the
entrepreneurs in rural and backward areas.

g) Exposed to the training programs - Training programs and workshops for every type of
entrepreneur is available through the social and welfare associations, based on duration,
skill and the purpose of the training program. Such programs are really useful to new,
rural and young entrepreneurs who want to set up a small and medium scale unit on their
own.

h) Identifying the available resources – Women are hesitant to find out the access to cater
their needs in the financial and marketing areas. In spite of the mushrooming growth of
associations, institutions, and the schemes from the government side, women are not
enterprising and dynamic to optimize the resources in the form of reserves, assets
mankind or business volunteers.

Highly educated, technically sound and professionally qualified women should be

encouraged for managing their own business, rather than dependent on wage employment
outlets. The unexplored talents of young women can be identified, trained and used for
various types of industries to increase the productivity in the industrial sector. A desirable
environment is necessary for every woman to inculcate entrepreneurial values and
involve greatly in business dealings. The additional business opportunities that are
recently approaching for women entrepreneurs are:

• Eco-friendly technology

• Bio-technology

• IT enabled enterprises

• Event Management

• Tourism industry

• Telecommunication

• Plastic materials

• Vermiculture

• Mineral water
• Sericulture

• Floriculture

• Herbal & health care

• Food, fruits & vegetable processing

Empowering women entrepreneurs is essential for achieving the goals of sustainable

development and the bottlenecks hindering their growth must be eradicated to entitle full
participation in the business. Apart from training programs, Newsletters, mentoring, trade
fairs and exhibitions also can be a source for entrepreneurial development. As a result,
the desired outcomes of the business are quickly achieved and more of remunerative
business opportunities are found. Henceforth, promoting entrepreneurship among women
is certainly a short-cut to rapid economic growth and development. Let us try to eliminate
all forms of gender discrimination and thus allow ‘women’ to be an entrepreneur at par
with men.

Some famous Women Entrepreneurs

Naina Lal Kidwai

Naina Lal Kidwai is an Indian businesswoman. She is currently the Group General
Manager and Country Head of the HSBC Group in India.

Early life

Kidwai has a Bachelors degree in Economics from Delhi University and an MBA from
Harvard Business School (graduated 1982). She was the first Indian woman to graduate
from Harvard Business School
Career

From 1982-1994 she worked at ANZ Grindlays, where her assignments included Head of
the Investment Bank , Head of Global NRI Services and Head of the Western India,
Retail Bank. During 1994-2002, she worked at Morgan Stanley as Vice Chairman of JM
Morgan Stanley and Head of the Investment Bank in India. At HSBC she has held
positions as Chief Executive Officer and Deputy Chief Executive Officer of HSBC Bank
in India and Managing Director and Managing Director of HSBC Securities and Capital
Markets India Private Limited. She became the group's country head in 2009.

Her other positions include being a non-executive director on the board of Nestle SA,
Chairman, City of London's Advisory Council for India, Global Advisor, Harvard
Business School. She is on the Governing Board of NCAER, Audit Advisory Board of
the Comproller and Auditor General of India, and on the National Executive Committee
of CII and FICCI. Her interests include microfinance and livelihood creation for rural
women and environment. Naina, also supports the world's largest youth driven
organization - AIESEC as a National Advisory Board Member to AIESEC India.

Awards and recognitions

Kidwai has repeatedly ranked in the Fortune global list of Top Women in Business, 12th
in the Wall Street Journal 2006 Global Listing of Women to Watch ad listed by Time
Magazine as one of their 15 Global Influentials 2002. In 2007, She received the Padma
Shri, for her work in the promotion of Trade and Industry.

Personal life

Naina is married to Rashid Kidwai, who runs the NGO, Grassroot Trading Network for
Women.
Shahnaz Husain

Shahnaz Husain (born in Pakistan) hails from a traditional royal Muslim family
background. She married at the age of 15 and has a son, Sameer. She is the Chairperson
of the Shahnaz Hussain Group, a leading Indian company dealing with beauty and anti-
ageing products. She also manages Shahnaz Husain's Beauty Institutes offering courses
such as diploma and post-graduate diploma in skin and beauty therapy as well as a
number of short-term vocational courses.

Education & Career of Shahnaz Husain

Shahnaz Husain did her schooling in an Irish convent. After her marriage, she went off to
Iran with her husband. She became interested in cosmetology. She soon realized the
harmful effects of chemical cosmetics and turned her attention to herbals and Ayurveda.
She also began writing about them. She returned with her husband to India and started a
small parlour in South Delhi. Shahnaz Herbals soon created a niche for itself worldwide
with exclusive clinics and 400 franchise salons.

Important Works of Shahnaz Husain

Shahnaz Husain was pioneer in the field of Ayurvedic and herbal cosmetics. The
products of Shahnaz Husain Group are sold through such prestigious stores as Harrods
and Selfridges in London, Galleries Lafayette in Paris, Bloomingdales in New York, the
Seibu chain in Japan, and La Rinascente in Milan. Her clients include such names as
Princess Diana, Madonna, the Clintons and Cherie Blair.

Awards and Achievements for Shahnaz Husain

Shahnaz Husain received such awards as Padma Shree (2006); The Arch of Europe Gold
Star for Quality; The 2000 Millennium Medal of Honor, and Rajiv Gandhi Sadbhavana
Award. She was voted the Woman of the Year by the Success magazine in 1996.

VINITABALI

Vinita Bali was appointed Managing Director on 31st May 2006. Vinita joined as Chief
Executive Officer of the Company in January 2005. She received her Bachelor's Degree
in Economics from LSR at the University of Delhi and her MBA at the Jamnalal Bajaj
Institute of Management Studies at Bombay University. She pursued postgraduate studies
in Business and Economics at Michigan State University on a scholarship from The
Rotary Foundation, and was selected to work as a Graduate Intern at the United Nations
headquarters in New York.

She started her career with Voltas Ltd.-a Tata Group company focusing on consumer
products, where she launched Rasna soft-drink concentrate. In 1980, Vinita joined
Cadbury India, where she had a successful career in roles of increasing responsibility, not
just in India, but also in the UK, Nigeria and South Africa. Vinita also served on the
Boards of Cadbury Nigeria and Cadbury South Africa.

The Coca-Cola Company chose her as its worldwide Marketing Director in 1994 where
she was responsible for the worldwide strategy for Coke, and was one of the key players
in doubling its historical growth rate. In 1997 she took over as Vice President of
Marketing for Latin America, and in 1999 relocated to Chile as President of the Andean
Division with sales in excess of USD 1 Billion. In 2001, she was made a corporate officer
of The Coca-Cola Company and appointed Vice President of Corporate Strategy
reporting to the Chairman.

After an eventful nine-year association with Coke, Vinita joined her mentor at Coke,
Sergio Zyman at the Zyman Group in July 2003 as a Managing Principal and Head of the
Business Strategy practice in the company's Atlanta office. As a member of the
company's Board of Managers, Vinita shared responsibility for developing and managing
Zyman Group's consulting business.
Lalita D. Gupte

Lalita D. Gupte, Joint Managing Director of ICICI Bank (India’s second largest
commercial bank), until October 31, 2006, is an important figure in India’s banking and
financial services sector.[1] An INSEAD alumnus, Gupte was listed by the Fortune “as
one of the fifty most powerful women in international business.” She is currently the
Chairperson on the Board of ICICI Venture and a board member of Nokia
Corporation.On 22nd June, 2010 she was appointed as member of Alstom’s Board of
directors
Career

Recruited directly from the Mumbai-based Jamnalal Bajaj Institute of Management

Studies, Gupte had begun her career with ICICI Ltd (which later merged with ICICI
Bank) in 1971 as a trainee in the Project Appraisal department. She served in different
locations and capacities, and had played a pivotal role in the listing of ICICI share in the
New York Stock Exchange (NYSE) – the first Indian enterprise to be listed in NYSE, and
the second Asian Bank to do so. Gupte was made Joint Managing Director of ICICI Bank
in 2001, and at the same time was made in-charge of the Bank's growing international
operations. In May 2007 Gupte was named to the board of the Finnish mobilephone giant
Nokia.

Contributions

Her contributions have been widely recognized, and the awards conferred on her include
the following:

• The twenty First Century for Banking Finance and Banking award (1997) by
Ladies Wing of the Indian Merchants’ Chamber[4]
• The Women Achievers Award (2001) from the Women graduates’ Association.
• Women of the Year Award (2002) by the International Women’s’ Association.

Debra (Debbi) J. Fields

Debra (Debbi) J. Fields epitomizes the American dream. From America's cherished
tradition of humble beginnings, she launched what has become one of the nation's most
visible, successful dessert empires.
She is one of the few innovators and entrepreneurs to see their name become a product
brand symbol of quality that is known and revered worldwide. Few dream achievers
(Ford, Edison, Bell among them) live to enjoy such well-deserved acclaim.
More than 25 years of entrepreneurial, operational and managerial experience, all of it
earned in a company she built (literally) from scratch. Founder, baker, chief cookie lover
and former Chairman, of Mrs. Fields Cookies, a $450 million company she founded in
1977. Mrs. Fields has since sold her company, which is a market leader among fresh-
baked cookie stores.
At the age of 20, Debbi was a young housewife with no business experience. Yet, she
had a dream, a recipe, and a passion for sharing her chocolate chip cookies. She managed
to do what most people considered impossible. She convinced a bank to finance a
business concept which had never before been proven and which appeared on the surface
to have little likelihood of success.

Mrs. Fields wanted to open a chocolate chip cookie bakeshop and store. On August
16, 1977, Mrs. Fields Chocolate Chippery opened its doors to the public in Palo Alto,
California. Twenty-plus years later, Debbi Fields' role had expanded from managing one
shop to supervising operations, brand name management, public relations and product
development of her company's 600+ company-owned and franchise stores in the United
States of ten Nations.

Debbi Fields' personal values guide her role as a businesswoman. Her philosophy of
excellence, stated in her motto of "Good Enough Never Is," is mirrored in a company that
has earned a reputation for providing the best in product quality and superior customer
service. She attributes her greatest success to her ability to relate to her customers and
earn their lifelong loyalty.
 With expansion on the horizon in 1989, Mrs. Fields, Inc. was among the first
companies to take advantage of dramatic computer technology advancements. Debbi
Fields led her company into the computer age, streamlining operations and production
schedules with a state-of-the-art computer system. Her program is used as a model for
business efficiency at Harvard Business School. It remains an example of successful
application of technology in business management.
Debbi Fields' business accomplishments and capabilities reach far beyond managing
Mrs. Fields, Inc. Today, she sits on the boards of Outback Steakhouse, WKNO (a public
radio and TV station), and The Orpheum Theater. She is in the process of co-authoring a
book called “Service Entropy”.
She is the author of two cookbooks published by Time-Life. The first, 100 Recipes
from the Kitchen of Debbi Fields has sold more than 1.8 million copies and was the first
cookbook to top The New York Times bestseller list. The second, I Love Chocolate
cookbook, published in 1994, has enjoyed tremendous success as well, posting sales of
over half a million copies. She hosted Great American Desserts, a weekly program that
aired nationally, on public television and is also the name of her third and newest book,
Debbi Fields Great American Desserts, published by Simon and Schuster.
Debbi is the mother of Jessica (23), Jenessa (21), Jennifer (19), Ashley (14), and
McKenzie (11). She resides in Memphis, Tennessee with her husband and family.

Mary Kay Ash

Born Mary Kathlyn Wagner in 1918, at age 17 she married Ben Rogers and soon had
three children. While he served in WWII, she sold books door-to-door, selling an
amazing $25,000 in just six months. After her husband's return in 1938, they divorced
and she decided to change careers, going to work for Stanley Home Products. Though
one of the top sales directors, she was repeatedly refused promotions and pay raises that
the men were getting. After 25 years of hard work, she retired in 1963.
Mary Kay Inc.:
With her life savings of $5,000 and the help of her 20-year-old son, Mary Kay opened her
first 500 sq. ft. store in Dallas in 1963. Mary Kay Inc. started with just nine independent
beauty consultants. She based the company’s philosophy strongly on her Christian faith.
She told her people to prioritize their life with God first, family second, and work third.
With this as her guiding practice she has encouraged women and given them new
opportunities for their own personal and financial success.
Incentives:
One of Mary Kay’s most effective strategies was incentives. In 1969, pink Cadillacs were
given to the top sales directors. Diamond bee pins were another incentive to keep the
women striving to do their best. With thirty-seven markets world wide, and well over
350,000 consultants, Mary Kay Inc. now makes over $1 billion in sales in nineteen
different countries.
Recognition and Awards:
Fortune magazine recognized Mary Kay Inc. with inclusion in “The 100 best companies
to work for in America.” The company was also named one of the best 10 companies for
women to work. Her most recent acknowledgements were the “Equal Justice Award”
from Legal Services of North Texas in 2001, and “Most Outstanding Woman in Business
in the 20th Century” from Lifetime Television in 1999.
Mary Kay Ash Charitable Foundation :
Mary Kay started the Mary Kay Ash Charitable Foundation in 1996 after seeing her most
recent husband’s suffering and death from cancer in 1980. The organization is a non-
profit establishment that provides funding for the research of cancers affecting women
and is dedicated to putting an end to violence against women by supporting women's
shelters and educational programs.
Best-Selling Author:
Mary Kay is the author of three best-selling books. The first was her autobiography,
Mary Kay, which sold over 1 million copies. Her second book, Mary Kay on People
Management, was based on her business philosophy and has been included in business
courses at Harvard University. Her third book, You Can Have it All, was a best-seller just
a day after it was introduced. Mary Kay Ash died in 2001.

HOUSEWIFE
• Indian women give more emphasis to family ties and relationships. Married
women have to make a fine balance between business and home. More over the
business success is depends on the support the family members extended to
women in the business process and management. The interest of the family
members is a determinant factor in the realization of women folk business
aspirations.
• Women's family obligations also bar them from becoming successful
entrepreneurs in both developed and developing nations. "Having primary
responsibility for children, home and older dependent family members, few
women can devote all their time and energies to their business" (Starcher, 1996, p.
8).The financial institutions discourage women entrepreneurs on the belief that
they can at any time leave their business and become housewives again. The
result is that they are forced to rely on their own savings, and loan from relatives
and family friends.

• The greatest deterrent to women entrepreneurs is that they are women. A kind of
patriarchal – male dominant social order is the building block to them in their way
towards business success. Male members think it a big risk financing the ventures
run by women.
• The male - female competition is another factor, which develop hurdles to women
entrepreneurs in the business management process. Despite the fact that women
 entrepreneurs are good in keeping their service prompt and delivery in time, due
to lack of organisational skills compared to male entrepreneurs women have to
face constraints from competition. The confidence to travel across day and night
and even different regions and states are less found in women compared to male
entrepreneurs. This shows the low level freedom of expression and freedom of
mobility of the women entrepreneurs.

• Knowledge of latest technological changes, know how, and education level of the
person are significant factor that affect business. The literacy rate of women in
India is found at low level compared to male population. Many women in
developing nations lack the education needed to spur successful entrepreneurship.
They are ignorant of new technologies or unskilled in their use, and often unable
to do research and gain the necessary training (UNIDO, 1995b, p.1). Although
great advances are being made in technology, many women's illiteracy,
strucutural difficulties, and lack of access to technical training prevent the
technology from being beneficial or even available to females ("Women
Entrepreneurs in Poorest Countries," 2001). According to The Economist, this
lack of knowledge and the continuing treatment of women as second-class
citizens keeps them in a pervasive cycle of poverty ("The Female Poverty Trap,"
2001). The studies indicates that uneducated women donot have the knowledge of
measurement and basic accounting.

• Achievement motivation of the women folk found less compared to male

members. The low level of education and confidence leads to low level
achievement and advancement motivation among women folk to engage in
business operations and running a business concern.
Tips for Women Entrepreneurs
• Considering being a woman entrepreneur? The times are changing; women
business owners are not uncommon. Throughout America many women are
changing the trend and becoming business owners. Large corporations including,
IBM, AT&T, Wells Fargo, and BancOne have also been noticing this trend and
have been rushing to tap the market. Companies are trying to learn the language
of women business owners – studies show that female dominant marketing
strategies are often quite different from male strategies in what they want in the
purchases they make and how they manage. Corporate America has shown that
some of the most profitable companies are related to women owners

If you are wondering whether or not you are an entrepreneur “type” and if you
should start a small business, you should start with these tips to get your career off to a
good start.
1) Select a business that you love and know something about. Being passionate
about your business will help you make it during the challenges that all
entrepreneurs face.
2) Research the product or service. Go talk to people who are in the business you
are going into. If you feel uncomfortable asking questions as a potential
competitor, then pretend you are a client. You can also do research at the library.
Look in the business section and trade publications.
3) Assess the market. Is there a need for your product/service? What type of
customer base do you need to stay in business? You should decide on location. (A
side street with no walk-in traffic may not be the best location for your retail
shop.) Also consider what will make you unique from everyone else in town.
4) Consult with professionals. Find some individuals who either knows something
specific about your business, specialize in small businesses, or deal with women-
owned businesses. Also talk to accountants, attorneys, insurance consultants, and
bankers about your future.
 5) Define the legal entity. Will your business be a sole proprietorship, partnership, or
corporation? Once you research the differences in liability, legal, tax, and
financing tell the county clerk’s office what you decide.
6) Protect yourself and your business. Different forms of insurance are necessary
depending on the business. Consult professionals.
7) Assess your finances. It’s a good idea to have some money put aside that will
carry you through the beginning phases. You can often borrow from
friends/family or get loans to get started.
8) Write a business plan. This includes a description of the business, financial
projections, clearly defines the product or service, and discusses the legal entity,
market, location, competition, management and personnel. There are many “How
to write a business plan” guides out there for you to use.
9) Network. Join professional organizations, attend industry related conferences and
meetings, and go to other meetings that are of interest to you. You will be
surprised where you meet clients!
10) Be positive, patient, and flexible. It takes a good amount of time to build a
business. Continue to have a positive outlook and don’t stop believing in yourself.
There has never been a successful business owner that hasn’t run into some
challenges!

Professional coaching is a developing profession that is helping to change the face of

the working world. Coaching is especially helpful to people in challenging professional
positions. A coach is someone with whom you work on an on-going basis whose sole
purpose is to support you in doing and being your best. As an entrepreneur, a coach will
guide you as you set up a strategic business plan, align your business goals with your
personal values, and eliminate distractions. So find someone that you think could be your
coach, and ask them to help you out!
Keeping your life in balance is a constant struggle for many women entrepreneurs.
Here are some personal and organizational tips for both business and personal parts of
your life that can help put you on the path to success.
 • Use a personal planner. Keep it with you at all times. Notes on small pieces of paper
or sticky pads can get lost and create clutter, write only in your personal planner!
• Keep a running list of thoughts, ideas, things to be done, projects, errands, etc.
• Make a list of all the new people you meet at business or social engagements. This
will help you with future networking.
• Begin each day by making a note of a few things that MUST be done that day. If
you don’t have time to do this, be creative and utilize commuting time. A hand-
held voice activated recorder can hold your thoughts until you can write them
down.
• Keep key personal and home information with you to handle domestic crises and
reduce your stress level. Include service and repair numbers, info and numbers for
children and family, and any medical info necessary.
• Keep emergency items for all weather conditions in your car.

. While gender was shown not to affect new venture performance when preferences,
motivation, and expectations were controlled for, the differences
observed among men’s and women’s new business ventures include the following:
• Men had more business experience prior to opening the business and higher
expectations.
• Women entrepreneurs had a larger average household size.
• The educational backgrounds of male and female entrepreneurs were similar.
• Women were less likely than men to purchase their business.
• Women were more likely to have positive revenues, but men were more likely to own
an employer firm.
• Female owners were more likely to prefer low risk/return businesses.
• Men spent slightly more time on their new ventures than women.
• Male owners were more likely to start a business to make money, had higher
expectations for their business, and did more research to identify business opportunities.
• Male entrepreneurs were more likely to found technologically intensive businesses,
businesses that lose their competitive advantage more quickly, and businesses that have a
less geographically localized customer base.
• Male owners spent more effort searching for business opportunities and this held up
when other factors were controlled for.
• Differences between women and men concerning venture size and hours are explained
by control variables such as prior start-up and industry experience.
• Researchers and policymakers need to understand that studies which do not take into
account the differing nature of men- and women-owned firms could result in misleading
results.
Table shows the distribution of industry sector in which the entrepreneurs started
their businesses.
The table shows that male entrepreneurs are significantly more likely than female
entrepreneurs to start
construction and manufacturing businesses, and significantly less likely than female
entrepreneurs to start
wholesale and retail trade businesses. These differences suggest the importance of
accounting for industry 23 sector when examining the effect of gender on
entrepreneurial activity. Uncontrolled, gender would capture some portion of the
differences in industry sector.
Table Industry Sector of the Start-ups of Male and Female Entrepreneurs.
Category N Mean (%) Standard Deviation (%) Significance
Agriculture All 674 3.74 18.98
Male 410 3.83 19.22
Female 263 3.59 18.64
Construction All 674 4.87 21.54 *
Male 410 6.61 24.87
Female 263 2.16 14.56
Manufacturing All 674 5.20 22.22 *
Male 410 6.71 25.05
Female 263 2.84 16.67
Transportation
&
Communication All 674 2.85 16.64
 Male 410 3.58 18.60
Female 263 1.70 12.96
Wholesale Trade All 674 3.16 17.49 t
Male 410 2.28 14.95
Female 263 4.52 20.81
Retail Trade All 674 26.14 43.97 *
Male 410 23.46 42.43
Female 263 30.33 46.05

Finance, Real
Estate and
Insurance All 674 5.23 22.29
Male 410 5.14 22.11
Female 263 5.38 22.61
Services All 674 48.34 50.01
Male 410 47.78 50.01
Female 263 49.20 50.09