Commercestudyguide.

com

UNIT- I
ENTREPRENEURSHIP
Meaning:

Everyone is aware of the term ‘entrepreneurship’ which refers to a process by which individuals
launch and manage their business and industrial enterprises. Entrepreneurs are the ones who risk
and invest their own capital into the business and industrial ventures.
Entrepreneurs play a key role in any economy by using the skills and initiatives necessary to
anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be successful in
taking the risks of a startups are rewarded with profits, fame, and continued growth opportunities.

Who is an Entrepreneur?

An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new
ideas, goods, services, and business/or procedures.

The word entrepreneur originates from the French word, ‘entreprendre’ which means "to
undertake." In the context of business, it means to start a business.

The Merriam-Webster Dictionary presents the definition of an entrepreneur as “one who organizes,
manages, and assumes the risks of a business or enterprise.”

According to the Peter F. Drucker,

“An entrepreneur is one who always searches for change, responds to it and exploits it as an
opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit
change as an opportunity for a different business or service”.

According to Richard Cantillon:

“An entrepreneur is an agent who buys factors of production at certain prices in order to combine
them into a product with a view to selling it at uncertain prices in future.”

The entrepreneur is defined as someone who has the ability and desire to establish, administer and
succeed in a startup venture to make profits along with risk entitled to it. The best example of
entrepreneurship is the starting of a new business venture. The entrepreneurs are often known as a
source of new ideas or innovators and bring new ideas in the market by replacing old with a new
invention.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

What Is Entrepreneurship?

Entrepreneurship is the propensity of mind to take calculated risks with confidence to achieve a
pre-determined business or industrial objective. In substance, it is the risk taking ability of the
individual broadly coupled with correct decision-making.

Entrepreneurship is often viewed as a function which involves the exploitation of opportunities

which exist within a market. Such exploitation is most commonly associated with the direction
and/or combination of productive inputs. Entrepreneurs are usually considered to bear risk while
pursuing opportunities and often are associated with creative and innovative actions.

According to A. H. Cole

“Entrepreneurship is a purposeful activity of an individuals or group of individuals undertaken to

initiate, maintain and aggrandize profits by production and distribution of associated goods and
services.”

According Robert D. Hisrich and Michael P. Peters (1998)

“Entrepreneurship is the process of creating something new with value by devoting the necessary
time and effort, assuming the accompanying financial, psychic and social risks and receiving the
resulting rewards of monetary and personal satisfaction and independence.”

Elements of Entrepreneurship

1. Creativity and Courage: Creativity is ability to create something new which others can’t.
It requires a lot of courage to come up with a creative idea and execute it. Successful
entrepreneurs are creative or innovative in their task. They do new things, manufacture
new goods, find new sources of materials, use new methods of production, search new
markets and so on. They do not invent new things but use these inventions for producing
new goods and services. Tata Motor’s Nano car shows the innovativeness of Ratan Tata.
2. Business Idea: Everything in business starts with a business idea. It is the first potential
energy of any new business. A business idea is a concept that can be used for financial gain
that is usually centered on a product or service that can be offered for money. An idea is
the base of the pyramid when it comes to the business as a whole. There are several methods
for developing and testing a business idea.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

3. Business plan: A plan is necessary to provide shape to the idea. A business plan is a plan
for how a business is going to work, and how an entrepreneur is going to make it succeed.
A business plan is also a road map that provides directions so a business can plan its future
and helps avoiding hurdles.
4. Products and services: Every business sells some types of products or services. If a
business sell something that can satisfy customer’s needs, then the products and services
will have larger business potential energy.
5. Vision and Farsightedness: The successful entrepreneurs have a good foresight. They
forecast the future business environment i.e. how will be the likes and dislikes of
customers, what will be the state of technology and prepare a plan of action accordingly.
6. Motivation and Leadership: Entrepreneurship activities cannot be undertaken if a person
is not motivated about what he is doing and without leading his team for what needs to be
done.
7. Innovation: A person should be highly innovative to generate new ideas, start a company
and earn profits out of it. Change can be the launching of a new product that is new to the
market or a process that does the same thing but in a more efficient and economical way.
8. Ambition: Successful entrepreneurs have high ambitions about their venture. Due to this
high ambition or high achievement motive, they are able to overcome the obstacles in their
business, turn misfortunes into fortunes, suppress anxieties and find out new ways and
means.
9. Self-confidence: Successful entrepreneurs have confidence in their skills and abilities.
They are sure about success in their business. They do not hesitate to launch new products,
expand and diversify their business. They are confident of overcoming any unanticipated
problem and survive in the adverse conditions.
10. Risk taking abilities: Entrepreneurship activities are full of risks. Those who dare to take
risks are also rewarded with huge revenue. A man who is afraid to take risk can never
become a successful entrepreneur.
11. Entrepreneurial knowledge: Having basic Entrepreneurial knowledge is very important
to become a successful entrepreneur. This helps an entrepreneur to analyse the economic
situation and forming strategies for good conduct of business.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Determinants of Entrepreneurship

Internal Determinants:

Internal Determinants are related with a person. They shape the entrepreneurial personality. These
factors are as follows:

1. Ambition: An ambitious person is likely to turn to entrepreneurship more than an ordinary

person. A highly ambitious person tries to become an entrepreneur for earning money,
prestige and respect in society, for working independently and for creating employment for
himself and others.
2. Willingness to become Self-reliance: The tendency of self-reliant motivates a person
towards entrepreneurship. These are the people who like to be their own boss and does not
like to be commanded by others. They do not like to take orders from other people. Instead
of becoming servant they want to become owners and willingly choose to be an
entrepreneur.
3. Success of other entrepreneurs: The stories of successful entrepreneurs in the
surroundings motivate people to follow the route of entrepreneurship. These successful
entrepreneurs are role models for the potential entrepreneurs, for example, a young
computer software engineer is motivated by Bill Gates of Microsoft, and Narayan Moorthy
of Infosys. Imitating other successful people is one the foremost reason why people choose
entrepreneurship. (The discussed example of Tilak Shrotriya and Tilak Mehta is very
relevant to this)
4. Educational and Professional experience: People learn the basics of entrepreneurship at
school or college level by workshops training and courses etc. After working in a particular
field for a number of years, some persons want to start their own enterprise. They feel
confident to overcome the difficulties and problems in the business because of their rich
experience. So, we can say that educational and professional experiences often play an
important role in deciding whether a person could become entrepreneur or not.
5. Supportive Family: A person gets financial and mental support from his family members,
friends, and relatives to start an enterprise. The family background of a person either
induces one to become an entrepreneur or discourages him from doing so. In certain
communities like Marwaris, Parshis, Sindhis, entrepreneurship is encouraged from
childhood and hence most of the people from these communities turn to entrepreneurship.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

6. Compelling factors: Sometimes a person is compelled to become an entrepreneur because

of adverse conditions like unemployment problem, job dissatisfaction, untimely death of
family head etc. Under these circumstances there is no choice before a person than to
become an entrepreneur.

External Determinants:

Entrepreneurship gets encouragement from the external environment as well. These factors
arise outside the person and motivate him to become entrepreneur. The external determinants
are explained below:

1. Economic factors: Favorable economic condition, ample natural and physical resource
availability, rising income of people encourage people to start new enterprises and make
money by providing goods and services for fulfilling the increased demands of people.
With good economic situation, investment in shopping malls, hotels, tourism, health
centers, entertainment industry, increases.
2. Social factors: Entrepreneurship is influenced by the customs, traditions and values of a
society. The materialistic attitude of society stimulates entrepreneurship. Entrepreneurship
is developed significantly in a society where the activities of entrepreneur are recognized,
respected and rewarded and where the religious values do not prohibit business activities
and wealth formation.
3. Technological factors: Technological advancements and cheap availability of technology
induce a person to introduce new products, improve the quality of existing products and
start high-tech enterprises. For example, due to technological advancements
entrepreneurship has flourished in the sectors like infrastructure, non-conventional energy,
construction, automobiles, information technology etc.
4. Political factors: Political stability, attitude and policy of the government towards
business, stable policy, maintenance of law and order etc. stimulates entrepreneurship,
attract domestic and foreign entrepreneurs in the country. For example, stable and
democratic government have attracted huge foreign investments in India in recent years.
The liberalization, privatization and globalization policy in the country has provided
greater scope to private sector to establish, expand and diversify the enterprises. Steps like
incentives, tax holiday benefits, cheap credit facility, export promotion measures and

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

assistance for technological up-gradation have given huge impetus to entrepreneurial

development in the country.
5. International factors: Entrepreneurship is influenced by the international environment.
Free global trade policy and need of international co-operation have encouraged
entrepreneurs to take their activities on international level. A good international trade
relation helps to install production facilities abroad and tap new foreign markets. Favorable
international environment has increased foreign investment in India in recent years.

Importance of Entrepreneurship:
Entrepreneurship occupies an important status in the process of economic development of any
country. Industrially advanced countries know the significance of entrepreneurship.
Entrepreneurship is of great importance in underdeveloped countries for holding steady
progress. The importance of entrepreneurship can be understood with the help of following
points:

1. Self-employment: The entrepreneurship facilitates self-employment. The enterprising

people employ their physical and mental capabilities for their personal benefit. This
helps to reduce the burden of growth in population on economic development of a
country.
2. Employment generation: Entrepreneurship is all about job-creating and job-giving.
The entrepreneurs establish business ventures which provide employment
opportunities on large scale. This is how entrepreneurship helps to reduce the
unemployment problem which is the root cause of all social-economic problems. The
opportunities of gainful employment abstain people from unlawful and criminal
activities. They are given incentive to participate and contribute in productive and

socially desirable activities.

3. Change agent: Entrepreneurship is a change agent. It brings about change in prevailing
socio-economic set up by conceiving and developing new ideas and putting them into
action.
4. Entrepreneurship brings social stability: Entrepreneurship achieves social stability
by meeting the diverse demands of the society and ensuring regular supply of essential

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

goods and services. The non-availability and short-supply of essential goods and
services may cause social unrest which may endanger the social stability.
5. Optimum utilization of resources: In the absence of entrepreneurship, the factors of
production like land, labour, money etc. would remain idle or unused. Through
entrepreneurship, the natural resources and factors of production are assembled and put
to use through business organizations and they are converted into products.
6. Capital formation: Entrepreneurship plays a significant role in mobilizing savings of
society towards industrial enterprises. The society invests its savings in the
entrepreneurial activities. The capital formation helps to exploit natural resources to
create markets and to carry on trade. It is an undeniable fact that without capital
formation, economic development would be hampered.
7. Balanced growth: In developing country like India, there is regional imbalance in
respect of economic development. All regions or parts of the country are not equally
developed. For development of such regions, industrial development is the prime
factor. The entrepreneurship helps to achieve balanced regional development by
starting small-scale industries. It focuses on rural industrialization and development of
local skill and market. Chandpur district of Maharashtra, once undeveloped, has been
developing now because of growing entrepreneurship.
8. Variety of production and technology: Entrepreneurship plays an important role in
developing a variety of products and technology. This leads to improve the standard of
living of the people.
9. Quality enhancement through Research and Development: Entrepreneurship gives
importance to Research and Development activities. The entrepreneur takes efforts to
make their products compatible to the needs of foreign markets. This stimulates R & D
activities.
10. Reduces the concentration of economic power: Entrepreneurship helps to reduce the
concentration of economic power in few selected hands and thereby reduces the
inequalities of income. Entrepreneurs from all social strata undertake business
activities and generate wealth. It stimulates the equitable distribution of wealth, income
and political power.
11. Export promotion: Entrepreneurship promotes a country’s export which is an
important ingredient to economic development. The growing entrepreneurial activities

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

in various sectors of economy improve the exports and build a favorable balance of
trade. It explores markets abroad, improves quality of products suitable to world class
standards and earns foreign exchange. Entrepreneurship also provides import
substitution and saves forex earning.
12. Economic development: Entrepreneurship spells the difference between ‘prosperity’
and ‘poverty’ among nations. The economic development of a country is quite
impossible in the absence of entrepreneurship. Japan is the place where entrepreneurs
have achieved success by hard work. The economic progress of USA and Western
Europe also highlights the significance of entrepreneurship.

NETPRENEURSHIP
The virtual world of internet has opened sea of opportunities for individuals, organizations,
society and nations. Through a personal computer or a mobile phone one can buy/sell/use
or reuse a product or service available online. Now businesses in particular startups have
also noted influence and outreach of internet and have moved from brick and mortar to
online business to witness as well as gain the rewards of technology.

Meaning of Netpreneurship:

Netpreneurship is the process of identifying and pooling bunch of resources to convert a

promising opportunity into a viable business online. The internet based entrepreneurship
works through online domain only.
When a person matches his intellectual capital with connectivity to offer goods and services
online, he is referred as a Netpreneur or e-preneur. These kinds of Netpreneurs are also
known as Self Employed Netpreneurs (SENs) who employ other employees for carrying
online services. A Netpreneur can be a self-employed individual or one who predominantly
employs several virtual employees.
The Longman Dictionary of Contemporary English defines Netpreneur “as someone who
has started an Internet business”.
So we can say that a Netpreneur is a person who create and deliver products and services
through online mode.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Netpreneurship enables the businesses and in particular startups to identify, engage and
retain consumer through social or company based portals for exchange of goods, services
and ideas. The escalating costs, complexity and the saturated markets in brick and mortar
mode has led many entrepreneurs find an alternative business model in the form of
entrepreneurship. Netpreneurship is comparatively an affordable business proposition to
begin with.
Some of the world’s most influential companies began their humble steps through
Netpreneurship only. For e.g. the world’s leading internet company Google was started by
its founders in late 1990 as a start-up only that too in a garage. Other similar companies
include e-bay.com, amazon.com, paytm.com, Flipkart.com, monster.com and so on.
Nowadays, with the advent of internet-based technologies like email, Web, VoIP (voice
over internet protocol) and remote access software have made work from home much easier
and enjoyable for large number of self-employed people. A home office is a good choice
for professionals who operate their own service-based small business (i.e., real estate, pet
care, legal services) and for some Internet-based business including email marketing
services, consulting services or e-commerce services. Those entities that mainly operate in
virtual world and engage into some offline services or resources for marketing or order
fulfillment purposes are known as ‘Small and Home Office’ (SOHO) establishments. Due
to rise in the number of these entities, various web based services and business software’s
are created to cater to these kinds of Netpreneurs who thrive their businesses through the
internet medium.
As we research and experiment further between zero and one (language understood by
computers), Netpreneurship will be the face of future business, holding unimaginable
potential for meteoric growth of not only businesses but also of people and their respective
nations. However, the business should also remain wary of the pitfalls of running online
business. Online business may involve cyber-crimes like hacking, phishing, morphing and
so on.
The basic requirements essential for Netpreneurs are:
1. Access to internet
2. Desire of people to take some risk and start their own online business venture
3. Innovation and creativity
4. Special technical skills that could be used to earn money online

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Advantages of Netpreneurship
In the sophisticated and fast moving world today, Netpreneurship is the most needed and
the most important input in the economic development of the country. Now when India has
stepped forward and is making its mark globally, Netpreneurship is definitely going to add
to its global presence and success. The entrepreneurs are seeking transformation due to
increased competition. Now, almost every company is going online and the successful
entrepreneurs of the coming decades will be no other than Netpreneurship.i.e. Who uses
digital and technical tools to reinvent the way they work. The following are the advantages
of Netpreneurship
1. Global Presence and accessibility: Millions of people worldwide have access to the
World Wide Web. No matter what the business is, entrepreneurs can't ignore millions
of people. To be a part of that community and show that you are interested in serving
them, you need to be online for them. Netpreneurship enables the individual and
businessmen to make a global presence and accessibility.
2. Vast Network of customers: making connections with other people is very important
to make a good customer base for the business. Every smart business person knows,
it's not important that what you know, it's important that who you know. Online
businesses are capable of making vast network of customers very easily.
3. Easy Availability of Business Information: Netpreneurship enables businesses to
provide their information, details regarding type of business, address, contact no, mode
of payment, product availability, etc. easily to millions of internet users in no time.
Netpreneurs can easily update their product catalogue, pricing, new products, payment
mode, etc. without any hassles.
4. Effective presentation of products and information: Netpreneur can effectively
present the products and information through the website by proper display of products
with the help of colorful and attractive pictures, sound, pictures and short movie files
to attract potential customers.
5. Creation of 24 Hour Service: Web pages serve the client, customer and partner 24
hours a day, seven days a week. There are no barriers, restrictions and constraints of
time. Netpreneur can choose his suitable time for working.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

6. Allows Feedback from Customers: Netpreneurship allows instant feedback from

customers. With a Web page, feedback can be taken instantaneously with no extra cost.
An instant e-mail response can be built into web pages to get quick feedbacks from
customers.
7. No Requirement of large investment of stock: Netpreneurs do not require large
investment of stock. They can manage the stock according to the orders received.
8. Cost Reduction: The cost for estate, service, support and production can be reduced
greatly through the use of the internet. It is a good reason to move business to the
internet. Businesses can reduce their costly production by dynamically adjusting prices.

Ecopreneurship
The term ‘Ecopreneurship’ began to be widely used in the 1990s. Ecopreneurship also
known as ‘Green Entrepreneurship’ or “environmental entrepreneurship” is most simply
referred to as the development of enterprise through entrepreneurship while incorporating
an environmentally responsible perspective into the operations and goals of the enterprise.

Ecopreneurship is a term coined to represent the process of principles of entrepreneurship

being applied to create businesses that solve environmental problems or operate
sustainably.

Entrepreneurs must adopt green business in order to achieve their profits in a responsible
manner. In most community’s entrepreneurs are viewed as heroes and if they adopt
Ecopreneurship, new businesses and communities can be motivated by them to imitate
them for a cleaner world. Entrepreneurs demonstration of the benefits of sustainable
business can act as a ‘pull factor’ to make others also be environmentally responsible. This
voluntary adoption of ecofriendly business models is better than being forced by
government regulations.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Definition

Gwyn Schuyler – “Ecopreneurship, also known as environmental entrepreneurship and

Eco capitalism, is becoming more widespread as a new market-based approach to
identifying opportunities for improving environmental quality and capitalizing upon them
the private sector for profit”.

Schuyler – “Ecopreneurs are entrepreneurs whose business efforts are not only driven by
profit, but also by a concern for the environment”.

David Kainrath has defined ecoprenuership as the convergence of three main

concepts, including:

1. Eco-innovation

2. Eco-opportunity

3. Eco-commitment.

Characteristics of Ecopreneurship
1. The Ecopreneurship businesses have a positive impact on the natural environment

2. The Ecopreneurship businesses see the protection of environment as key to their

beliefs, philosophies and values. Thus, they see Ecopreneurship as key to future
business.

3. They believe in environmental business models for just doing good for the environment
and making profits out of their activities.

4. Ecopreneurs are in different forms. Some do it intentionally and others do it because

of rigid rules and regulations.

5. Ecopreneurs need a conducive business environment to survive and do this good work.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Importance of Ecopreneurship:

1. The entrepreneurial activities in case of Ecopreneurship give less focus on management

systems or technical procedures.

2. It gives more focus on the personal initiative and skills of the entrepreneurial person or
team to realize market success with environmental innovations.

3. It adopts highly environmentally responsible business practices and values.

4. It emphasizes a social perspective while considering an innovative solution through the

commitment of ecopreneurs.

5. It replaces the conventional production methods, products, market structures and

consumption patterns with superior environmental products and services.

6. It is characterized by a high degree of creativity, collaboration and social orientation.

Women Entrepreneurship

Women entrepreneurship is the process in which a woman initiates a business, gather all
resources, undertake risks, face challenges, provides employment to others and manages
the business independently. Women entrepreneur may be defined as a woman or group of
women who initiate, organize, and run a business enterprise.

Frederick Harbison (1956) has enumerated the following five functions of a woman
entrepreneur:

1. Exploration of the prospects of starting a new business enterprise.

2. Undertaking of risks and the handling of economic uncertainties involved in business.

3. Introduction of innovations or imitation of innovations.

4. Coordination, administration and control.

5. Supervision and leadership.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Organizations Promoting Women Entrepreneurship in India

1. FIWE – Federation of Indian women entrepreneur This was founded in 1993.The

help in providing network facilities to women entrepreneurs in the country & abroad to
develop their business. It helps in providing facilities in the area of marketing, quality
control, Export management, standardization etc.
2. WTI – Women’s India Trust Established in 1968. It is used to market the products of
WTI members from door to door Under kamila trust. Then opened the shop in London
named KASHI and also extended in Europe Germany etc.
3. SEWA – Self Employed Women’s Association Registered in 1972. Under trade union
act. This is to empower poor rural women and urban entrepreneurs have become
members of Sewa to become self-employed.
4. AWAKE – Association of Women Entrepreneurs of Karnataka
a. It is engaged in promotion & development entrepreneurship among women.
b. Established in 1983. It works in the area of training & helping the women to
start their own business & empower them economically.
c. Development of both rural & urban areas in social & economically self-reliable,
irrespective of their academic, social & economical background.
d. It enhances the status of women in the society by creating culture of
entrepreneurship
5. CWEI – Consortium of Women Entrepreneurs of India It is a voluntary
organization, consisting of NGO‟s, SHG‟s Voluntary Organizations & individual
business units. This is formed on 2001. It provides technology up gradation facilities
to women entrepreneurs and other facilities in marketing, finance HR & production. It
provides man power training. It plays role b/w India & international entrepreneur’s
agencies.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Problems Faced by Women Entrepreneurs/Limitations of Women

Entrepreneurs
1. Finance Problems: Finance is regarded as the ‘life-line’ for any business – be it big or
small. However, women entrepreneurs suffer from a shortage of finance, mainly due to
two significant reasons. Firstly, women generally do not have a property in their names,
which they can pledge as collateral to obtain funds from external sources. Secondly,
the banks also consider women less creditworthy and discourage women borrowers on
the belief that they can leave their business at any time.
2. Role Conflict: In India, it is mainly a women’s duty to look after the children and other
members of the family. Man plays a secondary role only. In case of married women,
she has to strike a fine balance between her business and family. Her total involvement
in family leaves little or no energy and time to devote for business. Support and
approval of husbands seem necessary condition for women’s entry into business.
Accordingly, the educational level and family background of husbands positively
influence women’s entry into business activities.
3. Lack of Education: In India, around three-fifths (60%) of women are still illiterate.
Illiteracy is the root cause of socio-economic problems. Due to the lack of education
and that too qualitative education, women are not aware of business, technology and
market knowledge. Also, lack of education causes low achievement motivation among
women. Thus, lack of education creates one type or other problems for women in the
setting up and running of business enterprises.
4. Low Risk-Bearing Ability: Women in India lead a protected life. They are less
educated and economically not self-dependent. All these reduce their ability to bear
risk involved in running an enterprise. Risk-bearing is an essential requisite of a
successful entrepreneur.
5. Limited Mobility: Unlike men, women mobility in India is highly limited due to
various reasons. A single woman asking for room is still looked upon suspicion.
Moving in and around the market is tough job for Middle Class Women Entrepreneurs
in Indian Social system.
6. Emotional Nature: Women generally have sympathy for others. They are very
emotional. This nature should not allow them to get easily cheated in business.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

7. Traditional Mindset: While a lot of women are breaking the shackles and moving out
of their homes to work, setting up a business is still perceived to be a man’s domain. In
the male-dominated society, women are not treated equally to men, which serves as a
barrier to women’s entry into the business.
8. Networking: To run a successful business, it is essential to socialize within the
entrepreneurial network so that one can build contacts and win customers. However,
very few women can step out of their comfort zone. If they do socialize, it is restricted
to their work, and they are not able to build relationships. This has a significant impact
on the extent of visibility they have in the market and on the perception they make.
9. Safety and Security: In today’s times, safety is probably the biggest hurdle for women
in India. Due to the rise of social crime, women hesitate to take on roles that demand
long hours and interactions with a world of strangers. However, a smiling face and a
calm mind can quickly turn strangers into friends.

Measures to Promote Women Entrepreneurship in India

1. Promotional Help: Government and NGOs must provide assistance to
entrepreneurs, both in financial and non-financial areas.
2. Training: Women entrepreneurs must be given training to operate and run a
business successfully. Training has to be given to women who are still reluctant to
take up the entrepreneurial task.
3. Selection of Machinery and Technology: Women require assistance in selection
of machinery and technology. Assistance must be provided to them in technical
areas so that the business unit become successful.
4. Finance: Finance is one of the major problems faced by women entrepreneurs.
Both family and government organizations should be liberal in providing financial
assistance to them.
5. Marketing Assistance: Due to limited mobility, women are unable to market their
goods. Assistance must be provided to help them to market their goods successfully
in the economic environment.
6. Family support: Family should support women entrepreneurs and encourage them
to establish and run business successfully.

Prepared By: Toran Lal Verma Commercestudyguide.com

Commercestudyguide.com

Compiled By
Toran Lal Verma
https://commercestudyguide.com//

References

1. https://www.yourarticlelibrary.com/entrepreneurship/8-problems-faced-by-women-
entrepreneurs-in-india-explained/41097
2. https://accountlearning.com/challenges-problems-faced-women-entrepreneurs-
remedial-measures/
3. https://www.investopedia.com/terms/e/entrepreneur.asp#:~:text=Entrepreneurs%2
0play%20a%20key%20role,fame%2C%20and%20continued%20growth%20oppo
rtunities.
4. https://www.economicsdiscussion.net/entrepreneurship/women-entrepreneurs-in-
india/32337
5. https://www.slideshare.net/RameshLakshmanan7/b-com-part-ii-fundamentals-of-
entrepreneurship-english-version
6. https://www.entrepreneurshipinabox.com/371/10-elements-with-business-potential-
energy/
7. https://www.economicsdiscussion.net/entrepreneurs/role-of-entrepreneurs-in-
economic-development/31496
8. https://en.wikipedia.org/wiki/Ecopreneurship
9. http://www.gips-collaborations.com/wp-content/uploads/2020/04/ECOPR3625-
Notes.pdf
10. https://www.economicsdiscussion.net/entrepreneurship/types-of-
entrepreneurship/31780#:~:text=Netrpreneurship%20is%20the%20process%20of,
works%20through%20online%20domain%20only.
11. https://shodhganga.inflibnet.ac.in/jspui/bitstream/10603/244573/6/06_chapter1.pdf
12. http://netpreneur.co.in/

Prepared By: Toran Lal Verma Commercestudyguide.com