Women Empowerment through Entrepreneurship for their Holistic Development

Abstract

This conceptual paper emphasizes on the role played by women entrepreneur in contributing to at most development of economic growth and social living. Women entrepreneurship means an act of business ownership and business creation that empower their economic strength as well as position in the society. There is a bi-direction relationship between economic development and women empowerment. In one direction, development plays a major role in driving down inequality between men and women. In other direction, women empowerment facilitates development. Women have amazing ability to work hard and develop innovative ideas to construct economically sound and healthy society. Participation of women in the economy is the part of solution to finance and economic crisis. In US 6.4 Millions self employed women provide employment for 9.2 Million people. The World Economic Forum (WEF) data shows that women have relatively high share in professional and technical occupation-India ranked 68th among 135 countries in the WEF Index. In India, GDP could rise by 8 per cent if female/male ratio of worker went up by 10 Per cent. Further, this study also analyzes the present status of women entrepreneurship in India, reasons that have prompted them to unleash their entrepreneurial energies into startups and different challenges faced by them. At the end, paper makes some suggestions for the promotion and healthy growth of women entrepreneurship in India.