A Study of Socio- Economic Aspects of Women Entrepreneurs€¦ · 2 Dr. Shalini Gupta, Mr. Chetan Gupta Age is an important factor which may influence the performance of the entrepreneurs

International Journal of Engineering Technology, Management and Applied Sciences

www.ijetmas.com May 2017, Volume 5, Issue 5, ISSN 2349-4476

606 Dr. Shalini Gupta, Mr. Chetan Gupta

A Study of Socio- Economic Aspects of Women Entrepreneurs

Dr. Shalini Gupta

Professor of Eminence

Desh Bhagat University

Mandi Gobindgarh, Punjab

Mr. Chetan Gupta

International Institute of Management

Bhuvneshwar

Orisha

Women owned businesses are increasing fast in the economies of almost all the countries. The latent entrepreneurial

potentials of women have gradually been coming out with the growing sensitivity to their role and economic status in the

society. Skill, knowledge and adaptability in business are the main reasons for women to undertake business ventures.

Women Entrepreneurs generally establish an enterprise to meet their personal needs and become economically

independent. A strong desire to do something positive is an inbuilt quality of entrepreneurial women, who are capable of

contributing values both in family and social life. With the ever growing role of media, women are becoming increasingly

aware of their traits, rights and also the work situations. The glass ceilings are shattered and women are found involved

in every line of business, from pappad to power cables. The challenges and opportunities provided to the women of

digital era are growing so 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.

The emergence of women entrepreneurs and their contribution to the national economy is quite visible in India. The

number of women entrepreneurs has grown over a period of time, especially in the 1990s. They are making their

presence felt on the entrepreneurial scene in the country despite heavy odds. Although their number might appear small

given the size of the country's population but they have made a significant dent in fighting social discrimination and lack

of access to information, skills and credit.

Research methodology

1. The objective of the study of the socio economic profile of women entrepreneur for this hypothesis

experiments. Hypothesis is the study is that there is no co relation between socio economic profile of women

entrepreneur with the place of entrepreneurship. The women entrepreneurs from manufacturing, trading and

service units having business turnover Rs 10 Crore and above were selected from the Northern region

covering Punjab, Haryana, Delhi and Chandigarh. Primary data was collected by taking face to face interview

on a slandered questionnaires and the following

The analysis which follows depicts the socio-economic profile of the women entrepreneurs in India. Besides

the motivational factors, the conceptual factors regarding choice and location of business and choice of

product line have also been discussed in this study.

4.1 SOCIO-ECONOMIC ANALYSIS OF WOMEN ENTREPRENEURS

Socio-economic profile of women entrepreneurs includes information about their age, marital status,

educational level, training level and business experience. The family profile of women entrepreneurs includes

information about their type of family (joint family or nuclear family), occupation and generation levels of the

family.




4.1.1 AGE

Age is an important factor which may influence the performance of the entrepreneurs. Age of the women

entrepreneurs varied from less than 35 years to more than 45 years in general at the time of the establishment

of the enterprise. The sample respondents have been categorized into three classes on the basis of the age

group for the purpose of analysis. These classes are: Less than 35 years, 35- 45 years and more than 45 years.

The table 4.1 highlights the frequency distribution of sample women entrepreneurs in terms of their age along

with the chi square value calculated from the data:

Table 4.1

Age of Women Entrepreneurs

State/UT Number of respondents having age of

<35 Years 35-45 years >45

Chi-Square

Χ2

Punjab 6 6 1

3.146

Haryana 2 0 0

Chandigarh 4 3 0

Delhi 5 2 1

Total 17 (56.66%) 11(36.6%) 02(6.6%)

Note: 1. Figures in parentheses show percentage of total respondents

2. Tabulated value of Chi Square at 5% DOF is 12.592

It is evident from table 4.1 that the majority of the women started their entrepreneurial career at an age less

than 35 years (56.66%). This shows that they started their entrepreneurial journey at a quite young age after

completing their education and discharging their matrimonial engagements. The findings of the study match

the results shown by Allen Anderson in his study titled „Why aren‟t there more women managers‟ in which he

opines, “In general women go through the initial hassles of traditional role. Before any woman embarks on a

career she must get her priorities set. She would certainly marry and have a family. But, her husband as well

as her family might have to sacrifice, emotionally as well as practically as she pursues her career, which

obviously can be done after subsequent years of marriage. Women in general drift into a job or become career

minded when at the age of 30-35 they realize that they may have to work for the rest of their life1.”

Some of the women under study were in jobs and gave up their lucrative salary packages for their passions to

start an enterprise. The second category of women who started their enterprise falls in the age group of 35-45

years and it comes to be 36.6% of the total women entrepreneurs under study. The third age group was found

to be of those respondents who started the enterprise at the age of more than 45 years which is 6.6 % of the

total number of respondents. These women seem to be quite matured ones and have started their ventures only

after gaining full, experience and confidence in the field.

The value of chi-square (3.146) was found to be insignificant at 5% level of degree of freedom when

compared with the tabulated value. It indicates that there is no significant relationship between the place of

entrepreneurship and the age of women entrepreneurs under study.

4.1.2 EDUCATIONAL QUALIFICATION

Educational level is another important factor which may influence the performance of the entrepreneurs.

There is no doubt that successful women entrepreneurs are reasonably educated. The formal education not

only helps them in acquiring knowledge but also develops the much needed skills and attitudes in their day to




day job performance. In a country like India, formal education is always looked upon as an important means

to improve one‟s socio-economic position in the society.

The sample respondents have been categorized into three classes on the basis of their educational qualification

for the purpose of analysis. These classes are: Under-graduates, Graduates and Post-graduates. The table 4.2

highlights the frequency distribution of sample women entrepreneurs in terms of their educational

qualification. In order to know the significant difference between the place of entrepreneurship and the

educational level, chi square value has also been calculated from the data in the table:

Table 4.2

Educational Level of Women Entrepreneurs

State/UT Educational Qualification

Chi-Square

Χ2

Under

Graduate

Graduate Post Graduate

Punjab 03 04 06

5.59 Haryana 0 02 0

Chandigarh 02 04 01

Delhi 01 03 04

Total 06(20%) 13(43.33%) 11(36.67%)



Table 4.2 indicates that the value of chi-square (5.59) was found to be insignificant at 5% level of degree of

freedom when compared with the tabulated value. It indicates that there is no significant relationship between

the place of entrepreneurship and educational qualification of women entrepreneurs under study.

The table reveals that 43.33% of the respondents are graduates and 33.33% of the women entrepreneurs under

study are post-graduates or with some technical/professional qualification. It signifies that majority of the

women under study are with sound educational background. This is a very healthy sign that women with high

educational background are becoming entrepreneurs. They find it not only as a means of financial support but

also as a means to express their minds and convert their talents into their life satisfying activities. Also women

entrepreneurs who are highly qualified are able to negotiate with government policies and procedures well and

are able to withstand challenging times.




20% of the women respondents were found to be under-graduates. However in close interviewing, they were

found to be street smart women even with lesser qualifications.

It is a fact that entrepreneurship is a cake not only for the educated but women who are burdened with social

pressures can also have a taste of it. Education is a powerful tool in breaking down barriers in the path of

successful entrepreneurship. This study also reflects that good educational background and success are

directly proportionate to each other. As women are educated, pressure for change, covert or overt, is exerted

on accepted social norms militating against women.

4.1.3 MARITAL STATUS

Marital status of women contributes significantly in the performance of an enterprise. Finney, S.

Ruth2

in his study „Towards a Typology of Women Entrepreneurs-Their Business Ventures and Family‟

concludes that there is always a man who helps to pave the way for a woman desiring to enter into a male

dominated field. The table 4.3 depicts the frequency distribution of sample women entrepreneurs in terms of

their marital status.

Table 4.3

Marital Status of Women Entrepreneurs

State/UT Married Unmarried Widow

Punjab

Haryana

Chandigarh

Delhi

11

01

06

06

01

0

01

01

01

01

0

01

Total 24(80%) 03 (10%) 03 (10%)


The table 4.3 reveals that majority of the women entrepreneurs (80%) were married at the time of the

start of their entrepreneurial career. This signifies that women generally enter into business ventures only after

marriage because they feel that they will fit best into their entrepreneurship only with the help of their

husbands. The table at the same time also highlights that 10% unmarried respondents and 10% widow

respondents of the sample were also successful in their ventures. But during the face to face interview, it was

found that such women entrepreneurs face many difficulties not only in the course of their ventures but also in

getting a proper groom for marriage. The overall conclusion that may be drawn is that the married women

have a better edge on others as for as success of the enterprise is concerned.

4.1.4 FAMILY STRUCTURE

The structure of family of women plays a significant role in her entrepreneurial activities. The sample

respondents have been broadly classified into two categories on the basis of their family structure namely

nuclear and joint families. The table 4.4 highlights the frequency distribution of sample women entrepreneurs




in terms of their family structure. In order to know the significant difference between the place of

entrepreneurship and the family structure, chi square value has also been calculated from the data in the table:

Table 4.4

Family Structure of Women Entrepreneurs

State/UT Family Structure Chi-Square

Χ2

Nuclear Joint

Punjab 10 03

0.35

Haryana 01 01

Chandigarh 06 01

Delhi 06 02

Total 23(76.67%) 07(23.33%)



It is evident from table 4.4that value of chi square was found to be insignificant at 5% degree of freedom. This

shows that there is no significant relationship in the family setup of successful women entrepreneurs with the

place of entrepreneurship.

Women entrepreneurs face a lot of challenge when they move out of the protected confines of their homes and

dive into the entrepreneurial sea. A lot of women have to face the problems of joint family as expectations

from husband and in-laws run high. This is also the problem with women who come out from nuclear families

where the issue of balancing life and work is a hassle as most of the respondents started their entrepreneurial

journey early in life and had young children to look after.

As 76.67 % of the women in study come from nuclear families, their interview reveals the challenges they

faced by leaving their young children at home. Many women entrepreneurs confessed that sometimes they felt

very guilty on the ground that they had to spend long hours at their workplace at the cost of their children and

some times they felt that they should give up their enterprise. However, the zeal for entrepreneurship did not

allow this to happen but they accepted that it was not an easy path to tread.

There is no doubt that the challenges faced by women entrepreneurs at the socio-personal level are much

higher than those faced by their male counterparts and this makes women entrepreneurs‟ entrepreneurial

journey tougher and more challenging

4.1.5 FAMILY OCCUPATION

Family occupation has a strong bearing over the choice of career by women. The women who hail

from entrepreneurial families or who get married into such families, naturally develop a the tendency for

leaning towards entrepreneurship. The career of husbands in most of the cases also affects the transformation

of women into entrepreneurs. For the purpose of studying the impact of family occupation of women

entrepreneurs, the occupation of their parents, parents-in-laws and husbands have been taken into

consideration. The tables 4.5, 4.6 and 4.7 highlight the frequency distribution of sample women entrepreneurs

in terms of their family occupation.




Table 4.5

Family Occupation of Parents of Women Entrepreneurs

State/UT Service Business/

Profession

Agriculture Others

Punjab

Haryana

Chandigarh

Delhi

03

01

03

02

07

01

04

04

02

0

0

0

01

0

0

02

Total 09( 30%) 16 (53.33) 02 (6.67%) 03(10%)


Table 4.6

Family Occupation of Parents in Law of Women Entrepreneurs


Profession

Agriculture Others

Punjab

Haryana

Chandigarh

Delhi

02

01

02

01

06

01

04

05

02

0

0

0

02

0

0

01

Total 06 (22.22%) 16 (59.25%) 02 (7.40%) 03 (11.11%)


Table 4.7

Family Occupation of Husbands of Women Entrepreneurs


Profession

Agriculture Others

Punjab

Haryana

Chandigarh

Delhi

02

01

02

01

05

0

0

04

02

0

0

0

02

0

0

01

Total 06 (25%) 13 (54.16%) 02 (8.33%) 03 (12.5%)


The tables 4.5, 4.6 and 4.7 reveal that majority of the women entrepreneurs hail from

business/professional families which indicates that business family background plays a vital role in the entry

of women in the world of entrepreneurship. The tables also reveal that a few women entrepreneurs belong to




service family background. Besides, even a lesser number of women belong to agriculture and other family

backgrounds. It is evident from the tables that business family background has a strong impact on the success

of women entrepreneurs.

4.1.6 GENERATION LEVELS

The experience in the entrepreneurship affects the success of enterprise. The sample respondents have been

broadly classified into three categories viz. First Generation Level, Second Generation Level and Third

Generation Level. The table 4.8 highlights the frequency distribution of sample women entrepreneurs in

terms of different generation levels. In order to know the significant difference between the place of

entrepreneurship and the generation levels, chi square value has also been calculated from the data in the

table:

Table 4.8

Generation Levels of Women Entrepreneurs

State Generation Levels

Chi-Square

Χ2

First Second Third

3.82 Punjab

Haryana

Chandigarh

Delhi

11

01

04

05

02

01

02

02

0

0

01

01

Total 21 (70%) 07 (23.33%) 02(6.67)



It was found from the table that 70% of the women entrepreneurs under study belong to first level generation

which means that 70% of the respondents under study have the minds and body behind their enterprise. It was

basically their idea to start a business enterprise which they conceived, it would become the strongest and

successful enterprise of the country in times to come. 23.33 % respondents belong to the second generation

and 6.67 % of the women entrepreneurs belong to the third generation entrepreneurs. It is evident from the

value of the chi-square that there is no correlation between the levels of generation and the success of the

women entrepreneurs to the state/union territory they belong to.

4.1.7 FORMAL TRAINING

Successful running of business enterprise requires knowledge, skills and attitude. The sample respondents

have been broadly classified into three categories as for as their training level is concerned for the purpose of

the study. These include entrepreneurs with no training, basic training and professional training. The table 4.9




highlights the frequency distribution of sample women entrepreneurs in terms of the training level. In order to

know the significant difference between the place of entrepreneurship and the training levels, chi square value

has also been calculated from the data in the table:

Table 4.9

Training Level of Women Entrepreneurs

State Training Levels Chi-Square

Χ2

No Training Basic Training

Professional

Training

Punjab 06 05 02

11.15

Haryana 0 01 01

Chandigarh 0 03 04

Delhi 0 05 03

Total 06( 20%) 14 (46.67%) 10 (33.33%)



It is no surprise that 80% of the respondents fall in the category of trained entrepreneurs of which 46.67% fall

in the basic training category and the rest in professional training category. It is evident from the table that

value of chi square is insignificant at 5% level of degree of freedom. It shows that there is no significant

relationship between the training level and success of women entrepreneurs at different places of their

business.

The overall analysis of the socio-economic factors brings to light that all the socio-economic factors are

independent of the state/UT to which they belong. The value of chi square in all the above factors was found

insignificant in comparison to the tabulated value which signifies that there is no correlation between the

socio-economic profiles of women entrepreneurs with the place of entrepreneurship. Hence, hypothesis H01 is

accepted.

4.2 MOTIVATIONAL AND OTHER FACTORS FOR STARTING ENTREPRENEURSHIP BY

WOMEN ENTREPRENEURS

4.2.1 MOTIVATIONAL FACTORS

These factors include to earn money, to secure social prestige, to serve society, to invest surplus funds

of family, to provide employment to others, non-availability of jobs, to motivate other women, to gain

economic independence and to gain sense of achievement. The analysis for the importance of motivational

factors has been carried out as under in table 4.10:




Table 4.10

Importance of Motivational Factors

Factors Percentage of Sample Respondents

χ2 MI I N LI LE. I

To Earn Money 33.33 30 10 20 6.67 8.33

To Secure Social Prestige 0 0 20 16.67 63.33 40.33*

To Serve Society 10 20 10 53.33 6.67 22.33*

To Invest Surplus Funds of

Family 0 0 20 0 80 72

*

To Provide Employment to Others 10 30 10 30 20 6

Non-Availability of Job 0 0 10 70 20 51*

To Motivate Other Women 20 20 6.67 33.33 20 5.33

To Gain Economic Independence 73.33 16.67 10 0 0 56.33*

To Gain Sense of Achievement 53.33 26.67 10 10 0 26.33*

Notes: MI=Most Important, I=Important, N=Neutral, LI=Less Important, LE.I=Least Important, *Significant

at 0.05 level

The table 4.10 highlights that 63.33% of the women entrepreneurs have displayed an important reason

to start their business ventures with an eye to earn money. 20% of them categorized them in the less important

grade and for another 6.67%, it is least important. Entrepreneurs like Sapna Gupta purely wanted to combine

their teaching skills with their passion for well groomed personality. She says, “It was least important for me

to focus on money as I was much more enamoured of the drive to train air-hostesses for world class airlines.”

The table reveals that 80% of the women entrepreneurs, which comes out to be vast majority, have given no

importance to secure social prestige. The table further shows that only 30% of the total women in study

displayed a strong emotion to serve the society and 60% of them again categorized a less important factor for

starting the enterprise. Rajni Bector wanted to deliver quality products to the localities as there was a lot of

quality product gap in what was deserved and what was available. It was purely Rajni‟s desires to bring to

people the best that propelled her to start Cremica. For the 53.33% of women entrepreneurs, it was less

important a motivating factor.

All the respondents started small and grew with time over the years. The table depicts that for 80% of women

entrepreneurs in study it was the least important motivating factor to invest surplus funds of the family, as

they were all small and needed small investments. 20% of women entrepreneurs stood neutral to this query.

The table reveals that 40% of the women entrepreneurs under study displayed strong emotions to provide

employment to deserving and help them grow up in life independently. For Poonam Berry of Leader Valves

and Ritu Nanda of Escolife it was a major driving force to generate employment for the deserving candidates

as they felt the deserving lost in the race due to unethical factors which decide job hiring in government

organization. Ms. Blossom Kochhar of Aroma Magic today trains many to become financially and socially

independent. The table shows that for 80% of women entrepreneurs in study non availability of job was a less

important factor. Almost all the women in study belong to respectable families and displayed a high passion to

work on their own rather than on a job. 40 % of the women entrepreneurs wanted a kind of movement to be

started. It was important for them to motivate other women around them to become socially and financially

independent. However, 50% of the respondents showed no concern regarding motivating other women and

preferred to concentrate on their own jobs. Entrepreneurs like Anupama Arya from Mobera Systems and




Shalini Verma of Shalin Impex today employ more women with a passion to develop a sense of freedom and

self- respect among women at all levels.

All women entrepreneurs displayed a high emotion to make themselves independent. The table depicts that

90% of the women in study have voted the most important motivating factor to start their own ventures as a

high need to make themselves independent. 10% of the women respondents stood neutral and gave no opinion

regarding this factor. Entrepreneurs like Neelam Handa of Neelam Boutique, Ms. Mridula Jain of Shingora

Shawls, and Archana Nagpal of Anna Enterprises vociferously stand united to work for their financial and

social independence. The high adrenaline which flows in the veins of these young and dashing entrepreneurs

has helped them reach the pinnacle of glory.

The table highlights that a high 80% attribute their growth to their passion for high achievement in life and are

happy that they could make it. 10% of the women stood neutral and 10% dubbed this factor as less important

to them. To quote, entrepreneurs like Kiran Mazumdar Shaw of Biocon, Rajni Bector, Vandana Luthra, Priya

Paul today stand as giant entrepreneurs in a highly male dominated business world and are outstanding

examples for others who wish to establish themselves.

The value of chi square which is significant (more than the table value of 9.488) in respect of certain factors

indicates that there is a significant difference attached to the importance of that factor among the respondent

women entrepreneurs.

4.2.1.1 SECTOR WISE ANALYSIS OF MOTIVATIONAL FACTORS

The motivational factors analyzed above have been further analyzed on the basis of different sectors

to which the women entrepreneurs belong. The table 4.11 depicts different motivational factors for starting an

enterprise on the basis of their importance to the women entrepreneurs in different sectors. Weighted average

score has been calculated for different factors of motivation by assigning weights to the relative importance

given to them by the respondents. The results of mean scores so obtained have been further tested with the

help of one way analysis of variance (ANOVA).

Table 4.11

Motivational Factors-Sector Wise

Sectors

Factors

Manufacturing Service Trading Value of

‘F’

To earn money

To secure social prestige

To serve society

To invest surplus funds

To provide employment

Non-availability of jobs

To motivate other women

To make oneself independent

To achieve in life

3.86

0.9

1.06

0.93

1.27

1.00

0.8

3.93

3.06

4.5

1.1

1.33

1.00

1.47

1.33

1.06

4.6

3.73

1.3

0.3

0.53

0.27

0.40

0.27

0.33

1.33

1.26

12.34

Note: Tabulated value of F at 5% DOF is 2.51

The table depicts that the highest importance has been given to make one independent by the women

entrepreneurs in all the sectors under study. The next in importance comes the objective of earning money

followed by to achieve something worthwhile in life. It shows that to gain economic independences has been

the most important motivating factor which inspired the women entrepreneurs to start their ventures. It also

shows that for the other factors of motivation, the women entrepreneurs showed less inclination for starting




their ventures. From the value of F, it is quite evident that there is a significant difference in the importance

given to different motivational factors by the women entrepreneurs under study. Hence, the hypothesis H02

established for the purpose has been rejected.

4.2.2 CONCEPTUAL FACTORS

These factors reflect the conception of idea regarding the establishment of an enterprise by signifying

the inspiration behind its establishment. These include advice from family members/relatives, impact of well

established women entrepreneurs, advice from friends, encouragement from government officials, business

family background, and easy availability of finance. These factors have been analyzed in table 4.12 as under:

Table 4.12

Importance of Conceptual Factors


χ2 MI I N LI LT.I

Advice from family members 0 40 30 6.67 23.33 16.33*

Impact of well established women entrepreneurs 10 20 40 30 0 15*

Advice from friends 20 40 10 30 0 15*

Encouragement from government officials 0 0 0 20 80 72*

Business family background 40 40 10 10 0 21*

Easy Availability of Finance 0 50 10 30 10 24*


at 0.05 level

There was a strong division when women entrepreneurs were asked how they got the idea of establishing their

enterprises. Table 4.12 shows that while 40% did agree that family members and relatives were instrumental

in helping them establish their enterprise, 6.67% and 23.33% disagreed with this view. It has been observed in

the study that though family members do play an important role of initial role models or guides but they may

also act as barriers to the initial idea of an independent business enterprise by a family woman. 30% of women

entrepreneurs in study do agree that other well established women entrepreneurs did play the part of role

models in their lives and initially they were much enthused by their role models. However, 40% remained

neutral and 30% of them termed this factor as less important.

Friends and well-wishers play an important role in the life of each one of us. It is always said that advice from

sincere friends may help us reach the height of success and fame. Entrepreneurs like Rima Jain, Sangeeta

Bakshi and Sushma Barlia agree that had timely advice and help not come from their close friends, they would

have not reached where they are today. As per the table, 60% of the respondents of the women entrepreneurs

in study stand united when it comes to accepting that encouraging advice from their friends helped them beat

business blues from time to time. It seems government agencies play a very poor role in helping women

entrepreneurs to establish their enterprise. Most women entrepreneurs have openly averred that government

agencies are poorly equipped with technical know- how and financial assistances. All of them unanimously

agree that far from encouragement, government agencies do not even entertain their entrepreneurial case.

The table shows that 80% of the women in study did get the idea of establishing their business enterprises as

they hailed from business backgrounds and their families were doing exceedingly well in their own areas.

Charmed with the success of their husbands and in-laws, they decided to start their own ventures.




Entrepreneurs like Priya Paul from Surindera Parks Hotel and Monica Malhotra Kandhari from MBD Group

got their initial taste of business from their business families. 10% of the respondents preferred to be neutral

where as 10% termed it as less important.

The table also shows that 50% of the respondents feel easy availability of finance as a motivating idea to

establish their own enterprise while 40% of them disagree. 10 % of the women entrepreneurs in study remain

neutral.




4.2.2.1 SECTOR WISE ANALYSIS OF CONCEPTUAL FACTORS

The conceptual factors analyzed above have been further analyzed on the basis of different sectors to which

the women entrepreneurs belong. Table 4.13 depicts different conceptual factors for starting an enterprise on

the basis of their importance to the women entrepreneurs in different sectors. Weighted average score has

been calculated for different conceptual factors by assigning weights to the relative importance given to them

by the respondents. The results of mean scores have been further tested with the help of one way analysis of

variance (ANOVA).

Table 4.13

Conceptual Factors-Sector Wise

Sectors

Factors

Manufacturing Service Trading Value of

‘F’

Advice from Family members

Impact of well established Women

Entrepreneurs

Advice from Friends

Encouragement from Government

Officials

Business Family Background

Easy Availability of Finance

3.87

1.73

2.40

0.8

3.13

2.67

4.46

1.93

3.00

1.06

3.67

2.93

1.2

0.6

1.13

0.27

1.13

0.87

13.26


The table depicts that the highest importance has been given to advice from the family for establishing an

enterprise by the women entrepreneurs in all the sectors under study. The next in importance comes the

business family background followed by easy availability of finance. It shows that to advice from family

members has been the most important conceptual factor which inspired the women entrepreneurs to start their

ventures. From the value of F, it is quite obvious that there is a significant difference in the importance given

to different conceptual factors by the women entrepreneurs under study. Hence, the hypothesis H03 established

for the purpose has been rejected.




4.2.3 CHOICE OF PRODUCT LINE

The factors affecting the choice of product line include high demand of the product, ready market,

high rate of return and limited requirements of mobility. These have been analyzed in table 4.14 as under:

Table 4.14

Choice of Product Line


χ2 MI I N LI LT.I

High Demand

73.33 16.67 0 10 0 56.33

Ready Market

26.67 43.33 10 20 0 16.33

High Rate of Return 63.33 30 6.67 0 0 44.33

Limited Requirement

of Mobility

26.67 63.33 10 0 0 42.33

Family Business in

the Same Line

20 63.33 10 6.67 0 38.33


at 0.05 level

Table 4.14 shows that 90% of the women entrepreneurs attribute high demand factor to be

responsible for the choice of their product line. They believe that initially when they started their ventures it

was easier for them to cater quality products to the existing demand rather than research the market for

potential needs.

Entrepreneurs like Rajni Bector and Sangeeta Bakshi started marketing products which were in high

demand. 10% of the respondents stand against this reason.

The table further highlights that for 70% of the women entrepreneurs in study, the major factor of choosing

product line was a ready market and they did not have to go through the tedious task of creating the need.

Another 20% who catered to a niche market shared that ready market need was not as important and their

product line was developed on certain other factors.

For any sharp businessman returns are generally the most important factor. All the women

entrepreneurs in question agreed that they chose their product lines carefully on the guidelines of high return

on investment.

The table depicts that 93.33% of the women entrepreneurs agreed that it is important for them to select their

product line based on high rate of returns.

As most of the women entrepreneurs who started their ventures were with a family and also had young

children who needed their presence at a hand‟s distance. As per the table 90% of the respondents agreed to the

limited requirement of mobility for the reason that they had to balance their work with their family life.




83.33% of the women in study asserted that choice of product line come from their family businesses.

However, 6.67% replied in negative for their family business guidance as a factor responsible for the choice of

their product line.




4.2.3.1 SECTOR WISE ANALYSIS OF CHOICE OF PRODUCT LINE

The factors affecting choice of product line analyzed above have been further analyzed on the basis of

different sectors to which the women entrepreneurs belong. The table 4.15 depicts different factors affecting

the choice of product line for starting an enterprise on the basis of their importance to the women

entrepreneurs in different sectors. Weighted average score has been calculated for different factors by

assigning weights to the relative importance given to them by the respondents. The results of mean scores

have been further tested with the help of one way analysis of variance (ANOVA).

Table 4.15

Analysis of Choice of Product Line- Sector wise

Sectors

Factors

Manufacturing Service Trading Value of ‘F’

High Demand

Ready Market

High Rate of Return

Limited Requirement of Mobility

Family Business in the same Line

3.6

3.27

3.6

3.2

3.46

4.27

3.53

4.13

3.67

4.0

1.27

1.06

1.27

1.06

1.0

13.20


The table highlights that the highest importance has been given to high demand and high rate of return for

selecting the product line for establishing an enterprise by the women entrepreneurs in all the sectors under

study. The next in importance comes the family business in the same line followed by ready market and

limited requirements of mobility. From the value of F it is quite clear that there is a significant difference in

the importance given to different factors for choosing the product line by the women entrepreneurs under

study. Hence, the hypothesis H04 established for the purpose has been rejected.

The overall analysis of the socio-economic factors brings to light that these factors have no correlation with

the success and place of the entrepreneurship. In the same way, the analysis carried out for motivational and

other factors shows that there is a significant difference in the importance given to different factors by the

women entrepreneurs under study.




References

1. Anderson, Allen, Why aren’t There Women Managers? World Executive Digest, Hong-Kong, June 1984

2. Finney, S. Ruth, Towards a Topology of Women Entrepreneurs-Their Business Venture and Family, East-West

Centre, East-West Technology and Development Institute, Honolulu, Hawaii (USA) 1977

3. Brush, Candida G. And Hisrich, Robert D., Women Entrepreneurs: Strategic Origins Impact on Growth,

Frontiers of Entrepreneurship Research, Massachusetts, USA, 1988.

4. Carter and Nancy, Reducing Barriers between Genders: Differences in New firm Start ups, Paper presented at the

National Academy of Management Meetings, Entrepreneurship Division, Dallas, Texas, USA, 1994.

5. Carter, S. and Cannon T., Women as Entrepreneurs: A Study of Female Business Owners, Their Motivations,

Experiences and Strategies for Success, Academic Press, London, 1992.

6. Cruz, Karuna D., Women Entrepreneurship, Vikas Publishing House Pvt. Ltd., New Delhi, 2000.

7. Dhamija, S.K., Women Entrepreneurs, Opportunities, Performance and Problems, Deep and Deep Publication

Pvt. Ltd., New Delhi, 2002.

8. Doraiswamy, R., Women and Self Reliance, SEDME, September 1995.

9. Dowling, Colette and Cinderalla, Complex—Women's Hidden Fear of Independence, Fontana Paperback, 1981.

10. Drucker, Peter E., Innovations and Entrepreneurship: Practice and Principles, Willian Heinemann Limited,

London, 1985.

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A Study of Socio- Economic Aspects of Women Entrepreneurs€¦ · 2 Dr. Shalini Gupta, Mr. Chetan Gupta Age is an important factor which may influence the performance of the entrepreneurs