Steps to Promote Women Entrepreneurship by Srividya M R

Women entrepreneurs make significant contributions to economic growth and poverty reduction across both the developing and developed world. For this reason, it is important to equip women with awareness, tools and skills to become more financially independent and powerful to create a better society.

From Food & Beverage, Fashion & Clothing, Handicrafts, utility products, Media & Entertainment and in many other industrial sectors – India has nurtured some of the most successful women entrepreneurs who have proven limitless potential they offer to economies throughout the world.

So what can be done to boost more opportunities for women entrepreneurs?

1. Creating a more gender equal discourse by integrating gender justice training, success stories of women in business from every level in the society. This upskilling should involve men of the families and communities too

2. Fully-functional women-friendly business ecosystems, exclusive industrial parks for women led businesses and another approach is to allocate a certain ratio of the overall area for women entrepreneurs in existing Special Economic Zones (SEZs) and Integrated Model Townships (IMTs) on lower per unit costs

3. Awarding capacity building grants to women-led enterprises that provide fair wages to otherwise disenfranchised groups, and whose unique business models generate both monetary profit as well as sizable social returns

4. Investing in Vocational Skills Training and Income generating opportunities

5. Leveraging handcraft to drive social change needs to be main focus. Women-led artisan groups from different parts of the country connect art, culture to mindful consumers in the global market. They not only contribute a lot to the GDP but also create sustainable earning source for other women who are less privileged

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