BY-

ITEE BERI

PRERANA JHUNJHUNWALA

MBA – IIIrd SEM

CONCEPT OF WOMEN ENTREPRENEURSBASED ON PARTICIPATION:

A women entrepreneur is defined as an enterprise owned and controlled by a women having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to women.”

CONCEPT OF WOMEN ENTREPRENEURSGENERAL CONCEPT:

“A woman or a group of women who initiate, organize and run a business.”

BASED ON INNOVATION:

“ Women who innovate, imitate or adopt a business activity are called women entrepreneurs”.

FUNCTIONS OF WOMEN ENTREPRENEURSFunctions for establishment of an enterprise:

Idea generation and screeningDetermination of objectivesProject preparationProduct analysisForm of businessRaising fundsProcuring men, machine and materials.

FUNCTIONS OF WOMEN ENTREPRENEURSAccording to Frederick Harbison:

1. Exploration of prospects of starting a new business enterprise.

2. Undertaking of risks and the handling of economic uncertainties involved in business.

3. Introduction of innovation or imitation of innovations.

4. Coordination, administration and control.

5. Supervision and leadership.

FUNCTIONS OF WOMEN ENTREPRENEURS

KEY CHANGES IN WOMEN ENTREPRENEURS IN LAST FIVE

DECADESWOMEN ENTREPRENEURS OF THE FIFTIES:

Compulsive factors led to the creation of women entrepreneurs.WOMEN ENTREPRENEURS OF THE SIXTIES:

Women began to aspire but also accepted the social cultural traditions.

WOMEN ENTREPRENEURS OF THE SEVENTIES:

The women in this decade opened up new frontier. They had not only aspiration but ambition.

KEY CHANGES IN WOMEN ENTREPRENEURS IN LAST FIVE

DECADESWOMEN ENTREPRENEURS OF THE EIGHTIES:

Women were educated in highly sophisticated technological and professional education. They became an equally contributing partners.

WOMEN ENTREPRENEURS OF THE NINETIES:

This was the first time when the concept of best rather than male heir was talked about.

WOMEN ENTREPRENEURS OF THE 21st Century:

“Jill of all trades”

The main objective of the scheme is•To provide assistance to women entrepreneurs through NGOs.•To build up capacity of Entrepreneurship Development Institutions like National Institute for Small Industry Extension & Training (NISIET), Small Industries Service Institutes (SISI), State level EDIs, etc., by providing financial support in the form of Government of India grant.•To create entrepreneurship development training facility through NGOs by providing financial support for conducting training programmes.

Mahila Udyam Nidhian exclusive scheme for providing equity to women entrepreneurs implemented by the Small Industries Development Bank of India (SIDBI).

Mahila Vikas Nidhi offers developmental assistance for pursuit of income generating activities to women.

Prime Minister’s Rozgar Yojana (PMRY)During 2006-07, the participation of women in terms of employment generation under Prime Minister’s Rozgar Yojana (PMRY), was 16.5 per cent. The government made several relaxations to women to facilitate the participation of women beneficiaries.

Trade Related Entrepreneurship Assistance and Development (TREAD)

•In India the self-employed women account for only 5.2% of the self-employment persons in the countries. Majority of them are engaged in the recognized sector like agriculture, handicrafts, handlooms and cottage based industries.

•Women entrepreneurs constitute a tenth of the Indian entrepreneur universe.

•Currently there are 1.3 million SSIs and 9.1 million registered SMEs in India. As per the latest available estimates, the number of women owned and women managed enterprises is 12.99 lakh and 12.15 lakh respectively.

•There are more women entrepreneurs in smaller towns compared to metros.

•Women find it easier to start up but equally difficult to grow and access venture capital.

Birth: June 7, 1975

She was not interested in academics and on the advice and financial support of her father ventured into TV-serial production by the name of Balaji Creations at the age of 19. And soon she changed the face of Indian television industry and completely dominated it.

Achievement: •Creative Director of Balaji Telefilms•Awarded with Ernst & Young (E&Y) Startup Entrepreneur Of The Year award in 2001.

Birth: November 11, 1944

Place of Birth: Amritsar, Punjab

Label: Ritu, LABEL

She was the first women to bring the boutique culture to India, under the name "Ritu".

The ace designer had a humble beginning in a small village, near Kolkata, in 1960, with hand block printers and two tablets to flaunt about.

Achievement:•The Most Outstanding Evening Gown in International pageants. •Lifetime Achievement Award by the National Institute of Fashion Technology in 1998.•The Outstanding Women Entrepreneur Award by the PHD - Chamber of Commerce in 1998.•The Lifetime Achievement Award by the Kingfisher group of industries in 2000.

•CEO of Shahnaz Herbals Inc.

•A prominent Indian female entrepreneur best known for her herbal cosmetics, particularly skin care products.

•In the year 1977 she established her first beauty salon in her abode.

•Currently, the Shahnaz Husain Group has over 400 franchise clinics across the world covering over 138 countries.

Award:•Success Magazine's "World's Greatest Woman Entrepreneur" award in 1996.

Birth: 23 March 1953 in Bangalore.

Chairman & Managing Director of Biocon Ltd.

She founded Biocon India with a capital of Rs. 10,000 in 1978.In 2004, she became India’s richest woman.

Awards:•Ernst & Young Entrepreneur of the Year Award in Healthcare & Life Sciences Category (2002).•The Economic Times Business Woman of the Year Award (2004).•Lifetime Achievement Award from Indian Chamber of Commerce (2005).

A small survey of women entrepreneurs in VaranasiObjective: The main aim is to find out the status of women

entrepreneurs and to analyze problems unique to women entrepreneurs in setting up and running their enterprises in Varanasi.

Methodology: A survey is conducted with the help of a set of questionnaire.

Sample unit: Women entrepreneurs running boutiques and beauty clinics in Varanasi.

Sample size: 16

RESULTS: 44% of the respondents started business at the age of 20-30years, 31% at the age of 30-40years and 19% at the age of 40-50years. Only 6% of the respondents started at the age of 50+.

INTERPRETATION: It has been seen that most of the women entrepreneurs start business between the age of 20 to 40 years.

RESULTS: 93.75% of the respondents play the role of creator+ supervisor, 18.75% of the respondents also act as an innovator.

INTERPRETATION: It has been seen that almost all the women entrepreneurs play the role of creator as well as supervisor.

RESULTS: The educational background of 81% of the respondents is higher education. 19% of the respondents only have a basic education.

INTERPRETATION: It has been seen that most of the women entrepreneurs seek higher education.

RESULTS: 69% of the women entrepreneurs have not pursued any specialized course.

INTERPRETATION: It has been seen that most of the women entrepreneurs do not feel the need of pursuing any specialized course for running a business.

RESULTS: 87% of the women entrepreneurs have created their own enterprise while 13% have inherited from their families.

INTERPRETATION: It has been seen that most of the women entrepreneurs create business on their own.

RESULTS: Average rating given by the respondents is highest for demand for the product i.e. 4.43. The respondents have rated availability of funds and profitability in the business to be 3.75 and 3.43 respectively.

INTERPRETATION: It has been seen that the demand for the product is the most important economic factor in starting a venture.

i. Social factors

RESULTS: Average rating given by the respondents for the factors self reliance and family support is 2.185.

INTERPRETATION: Self reliance and family support are equally important factors in starting up a venture.

ii. Psychological factors

RESULTS: Average rating given by the respondents for the factors: self achievement and status & respect are 1.8 and 1.18 respectively.

INTERPRETATION: Self achievement and status & respect are almost equally important factors in starting up a venture.

RESULTS: 68.75% of the respondents started their ventures with their own funds while 12.5% of the respondents had borrowed funds as their source of finance. 18.75% of the respondents financed their business with both sources.

INTERPRETATION: Most of the women entrepreneurs are able to start their business through self financing.

RESULTS: The average rating given by the respondents is highest for stiff competition i.e. 5.375. The problem of finance and combining family and work life is rate 4.875.

INTERPRETATION: The most critical problem faced by the women entrepreneur while starting up the business is stiff competition. The other problems faced by most of them were problem of finance, combining family & work life and non-availability of raw materials.

RESULTS: The highest rating of 6.025 is for the stiff competition. Problem of finance and combining family and work life is rated at an average of 4.68 and 4.75 respectively.

INTERPRETATION: Stiff competition is still the most critical problem faced by the women entrepreneurs. Among other problems, combining family and work life and the problem of finance is also critical.

FINDINGS It has been observed that women entrepreneurs are early starters. Most of them

started their venture at the age between 20-40.

Low education level or no specialized course is not the problem faced by women entrepreneurs since most of them have not pursued any specialized courses.

The women entrepreneurs have played the role of creator since most of them are first generation entrepreneurs.

One of the most important factors supportive for women entrepreneurs is the availability of ready market and availability of funds. This signifies that they are mostly risk averse.

Family support as well as the zeal to become an entrepreneur is equally important factors.

Availability of funds was not a problem in starting the business as well as in running it since they have enough owned capital.

REFERENCESParikh Indira & Kollan Bharti(Aug.2005) “A

Reflection of the Indian Women in Entrepreneurial World.” Working Paper No. 2005-08-07, IIM, Ahemdabad.

S.S. Khanka “Entrepreneurial Development”.

Internet