Women are regarded as the most valuable human resource of the nation, and every state must utilize women's power towards economic growth. Encouraging female entrepreneurs in multiple ways would promote small-scale industries in rural parts of the country. However, the traditional mindset of the society and negligence from concerned authorities had created a significant obstacle for the development of women entrepreneurship programs in India.
Besides, women in rural parts of the country face an absence of balance between family and work, do not have any specific plan, mobility constraints, lack of direct ownership, the absurdity of entrepreneurship skill and finance. Even today, women do not have sufficient professional education, interactions with successful entrepreneurs, and economic freedom. These are some of the major challenges that are restricting the development of rural women entrepreneurship in India. At present, there is a need for inspiring, encouraging, and motivating women entrepreneurs through awareness programs. It will help facilitate a large number of women to build and run their enterprises.
The emergence of rural women entrepreneurs
Several women have chosen the path of entrepreneurship and become successful in their domains. However, the business world's rate of inclusion and participation is relatively low. In India, there are still various cultural and social restrictions on women. These practices largely restrict entrepreneur activities necessary for faster economic growth of the country.
Rural women entrepreneurs make substantial contributions to the growth of remote areas of the country. Therefore, a systematic effort will help achieve sustainable living in India's villages.
In recent years entrepreneurial ventures of rural women are gaining popularity worldwide. As a result, more and more women are coming forward to become entrepreneurs in small-scale industries. However, the significant challenges for rural women include economics and work background. Besides, they also need to manage time between family and work.
Challenges faced by rural women entrepreneurs
Poor rate of literacy
Even today, the literacy rate of women in rural parts of India is much lower compared to the male population. Besides, women are neither aware of modern technology nor have the necessary skills. In remote areas, women cannot find the required training to upskill themselves. The lack of basic skills and knowledge among rural women makes it a significant challenge to promote entrepreneurship.
Low-risk bearing ability
Women in Indian households most leave to lead a protective life. Throughout her life, she is not to depend on the male members of the family. Women are restricted from taking any race even if she is willing on can do so. And most important of all, Indian women are not economically self-dependent.
Corruption and lack of proper infrastructure
This is another major issue that makes rural women's entrepreneurship a distant dream. In every step of a business setting, people had to depend on office staff or other intermediaries to get their work done. Things get even more complicated when related to the marketing and sales aspects of the business. As a result, the intermediate, please take up a significant chunk of the profit in a company.
Inadequate financing options
Financial organizations discourage women entrepreneurs and turn them down for any financial aid. Hence most women entrepreneurs are forced to depend on their savings or loans from friends and relatives.
Rural women are neither well aware nor able to handle all the legal and administrative formalities of a business. They also face difficulty in availing loan facilities for establishing their venture. Also, rural women lack confidence in their ability to be able to run an enterprise.
There is an urgent need to create a favorable atmosphere to promote the self-employment of rural Indian women and the country's economic growth. Government should encourage rural women to participate in skill development programs to learn about the basics of entrepreneurship. Rural entrepreneurship can completely revolutionize remote parts of the country.