Breaking the prejudices that only men can start a business, women have come a long way as successful entrepreneurs with their start-ups bearing fruits of the seeds sown by them many years ago.
The best example that can be thought of is Dr. Kiran Mazumdar Shaw, founder of Biocon, one of India’s biggest biotechnology company, surpassing all the criticism and skepticism by investors who refused to do business with her.
Despite the number of women, the entrepreneur is increasing in India, still females are anxious or struggling to start their venture or have stopped their venture due to many challenges faced by them to continue with it.
In this blog, we will get to know the top challenges faced by Women Entrepreneurs to start or continue with their business.
Table of Contents
Lack of Finance
The kind of respect or weightage is not given to women entrepreneurs to start a venture, that is being given to the male entrepreneur and hence these women entrepreneurs are turned down by family members, relatives, banks, and financial institutions to invest in their venture.
However, there are many banks and NBFCs which provide business loan for women without collateral.
One such NBFC is ZipLoan which provides business loan up to 7.5 lakh within 3 days* with minimum documentation.
Low Risk Taking Ability
Though Indian parents have evolved and consider it important to educate their daughters, however, still they teach them to play safe by getting a stable job than to start their venture.
So this fodder given to their daughters comes across as the barrier and apprehensions for the daughters to take a bold step of being an employer than an employee.
Also Read: Get DTDC Franchise in Just Rs. 50,000
Lack of Education and Skills
In the semi-urban and rural parts of the country still, there is the existence of patriarchy that does not allow females to acquire technical education and skills and have to listen to the men of the house either father or husband.
The lack of proper knowledge does not provide females with exposure to various opportunities that help in the upliftment of their family as well as society.
Prioritizing Household Responsibilities
Married women who start their venture have to juggle between the business and the household chores and they do not receive support from the husbands or in-laws to share her responsibilities and consider that she needs to give priority to the household work rather giving her freedom to focus on her venture
Women do not want to step out of their comfort zone for socializing with prospective clients that might help them in their business shortly.
Networking helps to create visibility of the organization in the market place and also give them a clear picture of where the organization stand.
Also Read: Smart Business Ideas for Women in India
Fearlessness and Decisiveness
As we know in today’s’ competitive world, females need to be shrewd to get their work done, being emotional on every decision will not help them in any way and they might make major mistakes that will not be healthy for their business.
To take better business decisions they have to be very practical and need to take some bold steps that might affect some people but if it is appropriate for their business then it needs to be taken
Safety & Security Issues
In India, this is the biggest hurdle that women have to face, as the business demands long working hours so they have to work in the office till late night and as a result.
There is a concern w.r.t the security because there have been many incidents of attack on women during the odd hours and the trouble increases if they are venturing at a place where these type of incidents are common.
The rise in the crime rates does not let business women to work with full potential that demands long working hours.
Lack of knowledge of Schemes
The majority of the women in semi-urban and rural areas have a lack of awareness about the various government schemes meant specifically for females entrepreneurs where they get funds for their venture at a lower rate of interest.
Various loans and subsidies are provided to them with the help of the government gives a great boost for their venture to get a kick start and fulfill their dreams
This is the right time for the other women to start their venture as many females have overcome the obstacles paved on their way by society and have become successful entrepreneurs changing their as well as many lives by providing employment.
During the Covid, we have also learned that the Government is supporting many people with reasonable funding options, who want to start their business and be self-reliant rather than depending upon others for their livelihood.
Women can play a major role in nation-building as they have been proved to be the best multi-taskers for being adept in juggling both homes as well as their work with finesse.
It is also important that the family members should acknowledge the sacrifices and the contribution done by her and show confidence in her belief for the betterment of the family leading to a better society.
Get Business Loan in 3 Days* from ZipLoan
ZipLoan is on a mission to empower women entrepreneurs in India with collateral-free easy business loan. We don’t ask for a bundle of documents and disbursed loan within 3 days* after meeting certain criteria.
You can apply for business loan online through your mobile or website and get loan amount directly to your bank account. Don’t let financial problem stopping you to achieve your dream.
You May Also Like: