- 90% of Women business owners see Positive Shift in Societal Acceptance
- 70% Women Entrepreneurs start Business out of Ambition
- Indian Women entrepreneurs are primarily Self-motivated, study
NeoGrowth's NeoInsights study highlights the transformative impact of women entrepreneurs in India, highlighting their impact on personal empowerment, financial stability, and community inspiration. 90 per cent of women business owners see a positive shift in societal acceptance and respect. Most entrepreneurs are self-driven, with 70 per cent starting businesses out of personal ambition.
The study 'Entrepreneurial Spirit of Women Business Owners in India' explores these women entrepreneurs' motivations, challenges, and ambitions. It found that 98 per cent promote economic growth, 61 per cent improve family living standards, 54 per cent enhance confidence and self-reliance. Women entrepreneurs significantly impacted their communities, with 67 per cent empowering women towards financial independence, 50 per cent inspiring employees to start their own businesses, and 47 per cent serving as role models for young girls.
On the report, Arun Nayyar, Managing Director & CEO, NeoGrowth noted "It is heartening to witness how women in India are exploring business ownership, and driving inclusive growth like never before. Women-led businesses are not just creating economic value but also redefining leadership by showcasing a meticulous approach to business management, fostering workplace empathy and driving a positive work culture."
The survey further reveals that Indian women entrepreneurs are primarily self-motivated, with 70 per cent starting their businesses due to their professional ambitions. This shift towards opportunity-driven entrepreneurship is driven by career experience, financial independence, and a strong sense of purpose at 66 percent, while only 22 percent started due to necessity and 12 percent took over family businesses.
81 per cent of respondents run their businesses independently, with experienced owners over 40 years of age showing a preference for this approach. Those aged 21-30 rely more on peer networks and family support. 72 percent of entrepreneurs make critical decisions independently, while others prefer collaborative approaches.
