August 20, 2013, New Delhi: Traditionally seen as the family bulwark, women are now emerging as a force in the enterprise. In fact, multiple examples like Jaswantiben Jamnadas Popat (Lijjat Papad), Rajni Bector (Cremica Foods) speaks of the entrepreneurial success of women in many fields. And now, the regular working woman is also fast metamorphosing into the entrepreneur woman.
Greyhound Sculpt, the Consumer Research & Innovation arm of Greyhound Knowledge Group undertook a study to better understand the issues faced by women entrepreneurs in India. Titled ‘Women Entrepreneurs: Sweating It Out’, the study interviewed over 1000 women (among SEC A2B1) running their own ventures spread across NCR, Chennai, Kolkata, Mumbai, Bangalore, and Ahmedabad.
Below are some of the key outcomes of the study:
- Women are happy entrepreneurs. 50% respondents stated they are happy being an entrepreneur as it gives them a sense of freedom. However, 20% women claimed they started their own business to follow their passion and satiate their need for creative satisfaction. For example, makeup artists opening their own salon, housewives starting home cooked food delivery services for the office goers among others. On the other hand, 20% respondents have started their own business for a better standard of living.
- Challenge of balancing work and family: More than 40% women claimed that they either work from home or near their homes to look after their family and completing regular chores. 45% of women stress on the fact that being an entrepreneur gives them the flexibility of time.
- A constant struggle to be taken seriously: A major part of the women surveyed – 68% faced the challenge of not being taken seriously. In addition, 40% claimed that their family members did not approve or were not confident of them being entrepreneurs. This re-enforces that family approval (especially elders and husbands) play a decisive role for women in business matters.
- Some sectors are perceived as ‘No Entry’ for women entrepreneurs: Self imposed barriers do exist. Women claimed that there are some sectors where there are strong entry barriers. Sectors like transport; Real Estate, Automobiles, etc are identified as sectors with very strong entry barriers to women entrepreneurs.
“Women entrepreneurs are a brave new breed and soon, with technology, finances and other business support on their side, may be a significant sector of enterprise,” says Sanchit Vir Gogia, Founder and Group CEO, Greyhound Knowledge Group. “Despite business styles that may be different from their male counterparts, their business skills are just as sharp” he adds.
According to Debashish Kundu, Co-Founder & Chief Sculptor, Greyhound Sculpt, “Women are now embracing the entrepreneurial spirit in a big way. Not afraid to take risks, they are now taking leaps into converting their passions into viable business models. This new breed of enterprises will need as much technology and marketing support, which could be an interesting market opportunity”.
About Greyhound Sculpt
Greyhound Sculpt is a boutique Consumer Research & Innovation firm focused on delivering fact-based and relevant insights for complex assignments like brand personification, positioning studies, market entry strategies among others.
About Greyhound Knowledge Group
Greyhound Knowledge Group is built on the ethos of a research – led approach. Our mission is to be the most trusted group in the research advisory business. We believe in challenging conventions and are committed to change the way research is executed and consumed.
Apart from Greyhound Sculpt, Greyhound Knowledge Group also operates the following companies –
- Greyhound Research: Greyhound Research is an independent IT & Telecom research & advisory firm that helps clients with fact-based insights, relevant perspectives and realistic opinions. With focus on all things emerging – business themes, roles, technologies, geographies and verticals – Greyhound Research works closely with a variety of audience including end-users, IT & Telecom vendors, channel partners, venture capitalists & private equity, start-ups and the Government sector.
- Greyhound Technocrat: Greyhound Technocrat is an executive search firm focused on the technology and telecom sector in emerging markets. With focus on three verticals – CIO & Team, Vendors & Channel Partners, KPO & Analytics – the company aligns the best of both functional and sector expertise.
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