4 DECEMBER2021Editor NoteWomen Entrepreneurs Turning the Tide in Their FavourRachita SharmaSpecial EditorWhat role does gender play in entrepreneurship?Does one's gender impact their ability to lead a business? The answer to these complex questions cannot be binary. In order to get to the very bottom of this conundrum, one requires nuanced discussions. However, one thing cannot be dismissed, while one's gender might not affect their ability to run a business, yet social implications of one's gender surely affect their feasibility of becoming successful business leaders. It is no longer up for debate that our social, economic and mental structure negatively impacts women and their chances of running successful enterprises. Her handicap begins early in life where gender stereotypes pertaining to house work, child care, education and much more come into play. Even work place structures, norms within the corporate world etcact against a woman's chances of growth. Women who do manage to establish business then find it much tougher to raise funds. According to a survey conducted by Kauffman Fellows in the United States, all-male founder teams raised more money in 2018 than female founding teams raised in the previous 19 years combined. The deficit is stark to say the least. In India, the year 2021 that saw the most number of funding and unicorns seeing the light of day was still not as opportune for women with only one of these unicorns being led by a woman founder i.e. FalguniNayar.But irrespective of the plethora of challenges faced by women entrepreneurs across the globe, they are rising up, gradually yet steadily. There is a cultural revolution underway as more and more women are not only building their businesses but are playing a key role in enhancing the economic growth of the country, employment generation, and industrialisation. Over the last two years the number of female entrepreneurs has grown rapidly and the gender gap has narrowed to an all-time low of less than 2 percent. The number of women entrepreneurs has more than doubled over the past two decades. In the formal sector, approximately 37 percent of enterprises globally are represented by women-owned entities. Closer home in India females own approximately 20 percent of all micro, small and medium businessesas of 2021. Women currently have the highest share of micro businesses within business sizes, with more enterprises in rural areas than urban India according to a report by Statistica. This number is only going to improve going forward. The Landscape Study on Women Entrepreneurship by EdelGive Foundation found that the number of women owned businesses is slated to witness 90 percent growth in the next five years in India. With statistics being in our favor, we must also remember the resilience, acumen and patience that women bring to the table. As they say, the future is female indeed. Do let us know your thoughts.
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