Year 2022: Decoding Women Entrepreneurship
Women- led startups are paving the way to disintegrating the great gender divide that has played a predominant role for decades now.
In recent years, India has seen a quick development in new businesses. Similarly, numerous women courageously steppe into startups. Women entrepreneurs and their growing presence in India have essentially inveigled the social and economic census of the count.
The participation of women in the workforce has helped a large number of families pull out of hardship and has prompted job creation. "We all know that adding women to the workforce not only doubles our economic output, it teaches the next generation about equality by setting a very tangible example. This, in turn, changes how men and women are perceived by society and each other, " stated Malini Agarwal, Founder and Creative Director of MissMalini Entertainment, Girl Tribe & Co-Founder of Good Creator Co.
Women are well-known for their leadership abilities, as a result, they will continue to dominate in cutting-edge ventures.
Economic independence has long been key to an evolving society, and the innovation in entrepreneurship that women will surely bring it. More women in leadership will create more mentors and role models for the next generation. especially for those who are keen to start small businesses and need the appropriate inspiration and guidance. "We are inspired by the stories that we hear and the role models that we see, and as we see more and more women enter the unicorn club, or rather, we see more and more women-led businesses enter the unicorn club, it gives young female entrepreneurs something to look up to, and it also gives her the confidence that her company could one day be a unicorn company," Priyanka Gill, Co-Founder, Good Glamm Group said.
The Importance of Women-Led Businesses
Women are more determined by a cause than men are to be an integral part of society and to be a catalyst of progress in the current world status quo. Many women have launched their start-ups with the intent of solving particular problems or filling needed gaps in the lives of women. "Women are the primary consumers and influencers for mega categories like beauty, fashion, home, etc. It’s only logical for businesses to have strong representation in leadership for women," said Ghazal Alagh, Co-Founder & CIO Honasa Consumer (Mamaearth & The Derma Co).
At the point when women are hitting the bull's eye at the bourses and joining the billionaire club, Indian companies are getting a truly necessary non-androgenic viewpoint. In a generally male-dominated world, women are finally conquering their feet to celebrate entrepreneurial thoughts and pace their direction to become effective businesswomen.
The number of women-led and founded startups in India has increased multi-folds. Out of 136 unicorn startups in India, five are women-led, and this number is only going to go up. "Startup founders like Falguni Nayar, Divya Gokulnath, Ruchi Kalra, Vandana Luthra, Kiran Majumdar Shaw, and many more have proved their mettle as excellent entrepreneurs and inspire millions of people every day.
People are slowly realising and appreciating the value that women entrepreneurs and women, in general, bring to the table ", said Prerna Kalra, CEO & Co-founder, Daalchini Technologies.
As indicated by the WEF Global Gender Gap Report 2021, India has slipped 28 spots to be positioned 140th out of 156 nations, among the lowest in South Asia. The gender gap in India has extended to 62.5 per cent, generally because of women's insufficient portrayal in legislative issues, technical and influential positions, a decline in women's workforce support rate, helpless medical services, a slacking female-to-male proficiency proportion and pay disparity.
'Honestly, Investors are realizing the potential of investing in women-led start-ups for various reasons, including their operational efficiency and the large market opportunity which women understand better' mentioned Mona Singh, Co-Founder, India Accelerator
Broadening Boundaries: Shifting Societal Stereotype
In an era of women breaking barriers and paving their way into the business field in a largely male-dominated world, there is no reason to restrict the entry of younger minds and explore their entrepreneurial ideas to become successful businesswomen. “Outlook is clearly changing, in fact my experience on Sharktank India was heartening to see so many women from all walks of life creating new businesses.” Ghazal added
Women- led startups are paving the way to disintegrating the great gender divide that has played a predominant role for decades now. "It is quite refreshing to witness the change in the arena of entrepreneurship when it comes to women arising as successful business leaders. The purview of opportunities has definitely augmented, providing the necessary support and empowerment that budding women entrepreneurs require. The outlook of Indian society is subsequently progressing." added Shilpa Khanna, Co-Founder of Chicnutrix.
Opportunities Ahead: Budding Female Entrepreneurs
Witnessing women like Falguni Nayar enter the unicorn club with her sole founding business, Nykaa, definitely inspires many others to outperform expectations. "Predictions based on recent trends also reflect that many more startups led by women are to emerge in the coming years, and already existing Indian startups co- founded by women are to become unicorns by the year 2025. It is definitely an exhilarating phase for women in business to witness this change in the corporate sector. " Khanna mentioned
Speaking about the opportunities lined up for businesswomen, Kalra affirmed, "A rise in the number of government schemes for women entrepreneurs like the Annapurna scheme, Mudra Yojana Scheme, etc. is reflective of the same thought process. Women's entrepreneurship will rise in the next few years. Several women forayed into entrepreneurship in the middle of the lockdown and the pandemic, forming their own empires"
The adaptability of behaviour has accelerated in the past two years. People are willing to transact online and buy a variety of items that they would not have previously purchased. There is a massive sea change taking place right before our eyes, and habits are being adopted much faster. Brands are able to scale up a lot faster. With social media and influencers, - all these trends are helping. It’s also crowded, but the best brands will surface! There’s a massive opportunity for female entrepreneurs to take the leap and bring their entrepreneurial ideas to life! "Sustainability is poised to go mainstream in the coming years, especially in industries like food, wellness, beauty, fashion, and textiles, where we will see the emergence of multiple female entrepreneurs who will empower like-minded women to join the cause and drive the sustainable movement", said Anika Parashar, The Woman Company's Founder and CEO.
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