EMPOWERMENT OF WOMEN THROUGH ENTREPRENEURSHIP AND MSMEs

Abstract

Women constitute 50% of the total population. In traditional Indian societies, they were confined to four walls but in the modern society, they come out of four walls to participate in all types of activities, including entrepreneurship. Women entrepreneurship plays a prime role in industrial development. In India empowering women through entrepreneurship has become an integral part of our development efforts because of three important reasons; i) Women development, ii) Economic growth and iii) Social stability through gender equality. The idea and practice of Women entrepreneurship is a recent phenomenon. There is growing evidence all over the world that MSMEs play a significant role in economic growth, productivity, innovation and employment of the country. Today, the village and MSMEs units account for about 45% of the total industrial production and 30% of the country’s exports. MSMEs do not only constitute of enterprises but they are strongly influenced by people, and most of all by the entrepreneurs behind them. There are different kinds of entrepreneurs which may be classified on the basis of business characteristics, education, motivation etc. One of the most expanding categories is that of Women Owned Enterprises (WOEs). WOEs now account for a growing share of all new enterprises. Women should create their own jobs and become entrepreneurs since opportunities of getting employment in either government, non-government or a private organization is almost declining. This article shows the present scenario of Women Owned SMEs in India and the support they acquire from Government and other institutes. KEYWORDS: Women Empowerment, Entrepreneurship, MSMEs, Economic Development, Government