Tired of working in a big organisation where you are just a cog in the wheel? Are you considering breaking out into an enterprise of your own? Take a moment to pause and think. As a woman, does India really offer you choices, opportunities and avenues to set up your own enterprise?
The 2015 Female Entrepreneurship Index released on June 18, 2015 shows that India ranks 70 among 77 countries featured in the list. On one hand, we have successful businesswomen like Kiran Mazumdar Shaw who founded Biocon, on the other hand, we also have 16 crore women who don’t have the required support system-financial, social, filial and more (2011 Census data). In this land of khaps, how free are women to pursue their aspirations? Here are seven reasons why female entrepreneurs in India get a raw deal.
Patriarchal Society: “What? Business? You are a woman! How will you run around for business?” You have probably heard these lines before or even been a victim, at some point in your life. While women form a big chunk of the salaried class in the service sector today, business is still considered a man’s domain.
Lack of Collateral: The more progressive families will not only support a woman’s business idea, but also back it up by offering family property as collateral. But by and large, property is still considered a man’s birthright, although women too are legally entitled to it. She may not get access to it even after repeated requests.
Lack of organised funding options: Patriarchy percolates into other aspects as well, such as funding. There are no large-scale women-oriented venture capital funds or institutions, like Wells Fargo in the US that provides customized offerings to women entrepreneurs such as collateral-free loans of up to US$100,000 (Rs 63 lakh). Most women in India start out by using personal savings.
Investor harassment: For every one investor who may be interested in your idea and agree to fund your venture, there are 30 others who say refuse or hint at sexual favours. Blatant sexual harassment is a problem for most women investors, not just in India, but even in developed countries like the US, the UK, France and Germany among others.
Aggression: There is a certain amount of aggressiveness that is required to run and sustain a business- be it the local goons who demand monthly hafta (especially for restaurants), troublesome employees or competition. Women are resourceful and creative, but years of social conditioning and acts of submission has only made it difficult to for them to break the habit. But let’s not dismiss the presence of women who have broken the glass ceiling and become successful, but the percentage is small.
Prioritising work and family: A salaried job can have fixed working hours (well, if you really try for it), but having your set-up is a whole different ballgame. Family priorities often take precedence. While many women shoulder equal responsibility as men in their careers today, but she still has to bear the brunt of family and domestic responsibilities.
Networking: If business is considered by many to be a man’s domain, the same men also consider their network system to be an old boy’s club. While gaining entry to the boy’s club is difficult enough for women, reaching there and networking for your business is tougher. The reasons could vary from rushing to be with your child at home or maybe there are no other women at the men’s club, so you can’t be there. In many other situations, potential investors also do not pay any heed to a woman’s thoughts, opinions and ideas.
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