Overcoming some of the barriers to Women Entrepreneurship
Brindha Prabhu, Co-founder TABPS Pets
A woman entrepreneur is not created, she is born. The former President of the nation, A P J Abdul Kalam once said that empowering women is a prerequisite to creating a good nation as successful women are the key towards creating a good society. However, for a woman to don the hat of an entrepreneur is not as easy as it sounds. She has to face many-a-challenges and overcome barriers. Here are a few of the hurdles a woman entrepreneur could possibly face in her journey:
- Limited access to finance
Access to funding is one of the drawbacks that both men and women entrepreneurs have to face and overcome. In India, in particular, a majority of women do not have adequate access to funds to fuel their business ventures. A section of women breaks their savings and starts a business. One of the ways to overcome the barrier of funding is to reach out to near and dear ones who can offer financial support. Additionally, the government has introduced several women-oriented funds and welfare schemes that women entrepreneurs can take advantage of. In a bid to encourage women entrepreneurs, the government and SME bank loans are offered at a low-interest rate.
- Societal stereotypes
In a country like India, society functions based on certain set stereotypes. It is but taken for granted that the business of doing business and entrepreneurship is for men per se. So when a woman decides to take a plunge into entrepreneurship, the idea does not go down well with family and society. However, Mrs. Brindha Prabhu Gandhikumar, who is in her early thirties, of TAPBS from the house of TANVI is more than thankful to Mr. Prabhu Gandhikumar, her husband who founded TAPB Snacks and Beverages also under the TANVI banner, and family, for extending support and being her guide by her side in her entrepreneur journey. Mrs. Brindha Prabhu Gandhikumar’s advice to women who want to be introduced as entrepreneurs is to learn and master the art of work-life balance, something that comes to her effortlessly. The onus of managing the home is on the woman, additionally, she has to shoulder the responsibility of running her business. Once she learns how the strike the balance, the woman will be comfortable in her shoes.
- Lack of knowledge
The sad truth is that a majority of our women are naive. They lack the knowledge and experience to run a business. This brings down their morale and level of confidence. When it comes to running a business, women entrepreneurs know what to do, but they do not know what not to do, as they lack exposure. Mrs. Brindha Prabhu Gandhikumar recommends that women have their eyes and ears open at all times. Also, when women participate in business workshops, seminars, and conferences, a lot of networking and learning takes place. Every day is a learning day. Every experience teaches the woman entrepreneur a new lesson. In the era of technology, information can be accessed with a click of a mouse. Concurrently, there is no dearth of information as there are multiple avenues to access literature. It is for the woman to make an effort to learn.
- Striking the work-life balance
A girl metamorphosis into a woman and during this process, she is trained how to run a home. A section of women become entrepreneurs. Along with the responsibility of managing their home and family, the woman has to ensure that her business functions smoothly. No one teaches her how to strike a work-life balance. It is an art that a woman entrepreneur masters by herself. One of the best ways to achieve this is to take advantage of technology. While spending quality time with her family at home, the woman can keep track of her business by monitoring the footage of the CCTV camera installed at her workspace. A video call from the office will bring her closer to her family during business hours.
- COVID-19 pandemic
The coronavirus spread has left a deadly impact on small, medium, and large business establishments. The pandemic and its aftermath had a ripple effect on the global economy leaving it crippled. Against the backdrop of this, entrepreneurs, especially women have had a tough time. Tiding over the pandemic has been one of the barriers a woman entrepreneur has found it a challenge to deal with. Start-ups and established businesses have faced trouble during the nationwide lockdown and lockdowns imposed in the various states. Businesses literally came to a stand-still. The situation left many-a-women entrepreneurs wanting to give up their journey. Now that things are getting back to normalcy, women entrepreneurs must necessarily work hard and smart to get their business on track as there is no looking back.
Every woman has the power to empower. A woman entrepreneur must not let people or situations bog her down. Instead, she must stand tall, break the glass ceiling and become a role model for other women.