By Sofy Mathew
In this century, entrepreneurship is undergoing a profound transformation, driven by innovation, inclusivity, and evolving leadership models. At the forefront of this change are women entrepreneurs, whose influence is reshaping business landscapes worldwide. From fostering diversity to championing social impact, women-led businesses bring unique perspectives and values that drive sustainable growth.
The impact of women entrepreneurs on the economy is undeniable. Their ventures generate employment for millions across the country, making them vital contributors to economic growth and job creation. In India alone, women-led businesses employ over 27 million individuals, a testament to their growing presence in the entrepreneurial ecosystem. A McKinsey report further reinforces this impact, revealing that companies with greater gender diversity are 25% more likely to outperform their peers financially. Yet, despite these achievements, women entrepreneurs constitute only 22% of the overall entrepreneurial landscape in India. However, with the right support and encouragement, this number has the potential to rise to 30 million, unlocking vast economic potential.
The success of women entrepreneurs across India is already setting remarkable examples. YouthAid Entrepreneurs Federation of India (YEFI) is a step towards this. They are brining entrepreneurs from all the sectors together to promote products, services that are becoming a game changer.
There are many inspiring stories, Teju Punekar from Pune, Maharashtra is one of them. As a member of the LGBTQ community, Teju defied societal norms and started Narayani, a tailoring and makeup service shop. What started as a small venture has today grown into a thriving business with a loyal clientele. Teju’s journey is not just a story of entrepreneurial success but also of resilience and empowerment. It has inspired many in the LGBTQ community to step forward, pursue their passions, and break societal barriers.
However, the path to success for women entrepreneurs in India is still riddled with challenges. Deeply ingrained patriarchal norms continue to limit women’s access to crucial resources, information, networks, and funding necessary for starting and growing businesses. Many struggle to secure credit and financial support due to a lack of collateral and formal financial history. Limited financial literacy, work-life balance challenges, and restricted access to training and mentorship further hinder their entrepreneurial growth.
Addressing these challenges requires deliberate and targeted interventions. Financial inclusion is non-negotiable—women entrepreneurs need better access to capital, along with financial products tailored to their specific needs. YouthAid Foundation plays a crucial role by offering training and incubation services to aspiring women entrepreneurs, equipping them with the knowledge and tools they need to succeed.
Celebrating such stories at platforms like YESummit—YouthAid Foundation’s annual entrepreneurship event—creates a ripple effect, inspiring more women to enter the entrepreneurial ecosystem. By showcasing these journeys through media, industry events, and educational platforms, we can nurture a new generation of women leaders.
Leaders across corporate, government, and educational sectors have a pivotal role in fostering inclusivity. The corporate world must invest in supplier diversity programs, ensuring that women-led businesses are integrated into the supply chain. Governments need to introduce grants and incentives, particularly for women entrepreneurs in high-growth industries like technology, renewable energy, and healthcare. Meanwhile, educational institutions should integrate entrepreneurship modules into their curriculum, encouraging young women to embrace innovation and leadership from an early age.
Together, we have the power to create a future where women entrepreneurs not only contribute to economic growth but also redefine leadership and innovation on a global scale. It’s time to turn intentions into action, breaking down barriers and ensuring every woman has the tools, support, and opportunities to succeed.
This International Women’s Day, let us celebrate the trailblazers, changemakers, and pioneers who are not just building businesses but shaping a more inclusive and prosperous future for all. Join at Creaticity on 8th March 4pm to encourage marvellous women entrepreneurs.
(Author is a Board of Director at YouthAid Foundation)
This Post Has One Comment
It is really good platform. Definitely it will help all the start up & growing entrepreneur’s