Women Entrepreneurs Shaping Business in India
India is one of the most populous countries in the world. It has a large youth population and a rapidly growing economy. It can be safely said that India is set to take off as an economic powerhouse in the coming years. However, this growth is not just driven by traditional industries such as the manufacturing or service sector; it also involves new entrepreneurs who are creating waves through innovation, entrepreneurship and technology.
Why are more Women Entrepreneurs Needed in India?
Women-led businesses provide a great impact to the economy. The rise of women into the workforce has led to significant economic growth and productivity. Women entrepreneurs have a tendency to build and maintain long-term relationships. They have more networking and communication skills than men. Also, their conventional approach reduces the risk of failure of the company.
More women entrepreneurs can lead to a tremendous change in the society, making women financially independent and giving them the power to make their own choices. Also, women tend to invest a high amount of income into their children’s education, which helps in building a better future with educated and healthy youth.
Narrowing Gender Gap
The gender stereotypes which were more prevalent in the society decades ago are breaking slowly. But there is still a long way to go. Women entrepreneurs inspire other women to start businesses which leads to more job opportunities for women, which ultimately reduces the gender gap in society. When women start businesses, the next generation of women are more likely to get inspired and follow their success.
Falguni Nayar, Founder of Nykaa
Falguni Nayar is the founder of Nykaa. This online beauty and wellness retailer has over 10,000 products that are sold at affordable prices. The B2B2C model ensures that customers can buy from them directly without having to go through any third-party retailers or distributors.
Ghazal Alagh, Founder of Mama Earth
Ghazal Alagh is the founder of Mama Earth, an organic skincare brand that was founded in 2015. She is a self-taught entrepreneur who started her business with the childhood inspiration of a homemade skincare routine. Her company's mission is to use natural ingredients to nourish skin and make it look fresh by using essential oils, extracts and other ingredients that are beneficial for skin health. Today Mama Earth is a unicorn start-up with over a billion dollar valuation.
Ghazal believes that there are no barriers when it comes to starting up a business; you can do anything if you have passion for what you do.
Vineeta Singh, Founder of Sugar Cosmetics
Vineeta Singh is a cosmetologist and entrepreneur. She founded Sugar Cosmetics in 2015, which creates 100% natural, cruelty-free and vegan cosmetics. The brand has been featured in many publications, including Vogue India Magazine, Elle India Magazine, Women's Health Magazine and more. Vineeta Singh was recently a judge in Shark Tank India. Her community building and brand presence even steered Lakme out of the competitive market.
Karishma Mehta, Founder of Humans Of Bombay
Karishma Mehta is the founder of Humans Of Bombay, a platform that showcases the stories of people from all walks of life. Her work has been featured in many publications like The Huffington Post and BuzzFeed.
In an interview with Entrepreneur India magazine, Karishma said: “It was about time someone did this because it's not just about making money but also about doing good for society."
Richa Kar, Founder of Zivame
Richa IIM Kozhikode started out as a corporate after completing her MBA degree and later worked in several companies, including Victoria Secret. This is where the inspiration to start Zivame germinated.
In 2014, Richa quit her job and started Zivame. Today, it has become one of the leading online shopping brands in India, offering trendy clothes that are designed by women for women!
Aditi Gupta, Founder of Menstrupedia
Menstrupedia is a website that helps women learn about their bodies and menstrual cycles. It was founded by Aditi Gupta, who was a high school student at the time. She started it because she felt there was a lack of information on menstruation.
The site has grown to include an app that offers educational quizzes and videos on everything from your period to what happens during pregnancy (and even how to give birth). The company also offers educational materials for both parents and teachers so they can share information with their students or students' families as needed.
Challenges Women Entrepreneur Face in India
The biggest challenge that women entrepreneurs face is the lack of financial support. This can be attributed to several factors, including a lack of mentorship and role models, infrastructure issues in the country and a lack of access to capital and markets.
Mentoring is crucial when it comes to starting up or running a business as it helps you overcome any obstacles that may arise during your journey, as well as gives you valuable insights into how other people have done things before so that you know what works best for you. Role models are also very important as they show us what we can achieve if we put our minds towards something special instead of just settling for something less ambitious but equally rewarding!
There are many ways in which mentorships can be created: from networking events like meetups where entrepreneurs meet each other regularly; through online platforms such as LinkedIn groups where members share their experiences with each other; through courses offered by organizations such as Entrepreneurship Development Institute (EDI) etcetera.
How to Support Women Entrepreneurs in India?
- Invest in women-owned companies.
- Support women entrepreneurs by donating to their cause.
- Venture capital funding to women entrepreneurs.
Venture capital funding can be a great way for you to help these women entrepreneurs, as it will allow them access to funds that would otherwise be unavailable for small businesses in India.
Women entrepreneurs are shaping the future of India with their vision. They are breaking barriers, creating opportunities and changing the way we think about women's business in this country. As a community, we have to acknowledge that there is still a long way to go before we achieve gender parity in entrepreneurship, but as an Indian and a women-focused business, we are confident that these women will inspire us all along this journey.