Women in entrepreneurship can generate transformational employment in India and generate 150–170 million jobs, which is more than 25% of the new jobs required for the entire working-age population by2030, according to a joint report by Bain & Company andGoogle titled “Women Entrepreneurship in India –Powering the economy with her” –released today. The report underlines the need to accelerate efforts to grow women entrepreneurs in India in both quantity and quality to solve employment challenges in the country.
The report highlights the unprecedented opportunity India has, as it soon grows into a nation with the largest working-age population in the world, by focusing on growing the overall base of women entrepreneurs as well as enterprise quality. It presents women entrepreneurship, as a vital component to boost the economy through job creation as the private and government sector alone has not been sufficient in generating the required jobs.
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The report identifies six dominant segments of women entrepreneurs and estimates India to have 13.5–15.7 million women-owned enterprises, representing approximately 20% of all enterprises today.In many cases, women are named as owners for financial and administrative reasons with no active role to play, which overstates true entrepreneurship amongst women. Of all women-owned enterprises, a majority are single-person enterprises, with the largest group represented by rural non-farm home-based business owners at 38% followed by urban self-employed women solopreneurs at 31%, who usually work from home.
Source: Business World
