“When a woman moves forwards, the family moves, the village move, and the nations move.” – Pandit JawaharlalNehru
India has recently become the hub of new businesses with women taking the step forward into entrepreneurship. Women entrepreneurs can be described as confident, innovative, and creative women capable of achieving self-economic independence individually or in collaboration. Pandit Jawaharlal Nehru rightly said, “When a woman moves forwards, the family moves, the village move, and the nations move.” Women entrepreneurs are not only becoming self-independent but are also creating employment opportunities for others through initiating establishing and running the enterprise, by maintaining the balance between personal, social, and family life.
In India it is likely to see business growth up to 90% in the next 5 years by women as they receive big boosts in several areas of their lives. In recent times India has witnessed some great women entrepreneurs like Hemalatha Annamalai – Ampere Electric, FalguniNayar – Nykaa, Kiran Mazumdar Shaw – Biocon India, Vineeta Singh – Sugar Cosmetics.
According to a Forbes report, a whopping 40% of women want to enter entrepreneurship despite the challenges because they need flexibility, quick advancement, and want to take control of their future and charge what they are worth.
Despite being a powerhouse of talent women entrepreneurs face various challenges like Financial problems, Fierce competition,and Lack of education.
However, they handle these issues on their own with the aid of a few solutions, finance cells, marketing cooperatives, and training and education facilities.
ROLE OF DIGITIZATION
Digital technology is playing a key role in enhanced growth in different sectors of work, social, education, business, cultural, and other related areas. There is an optimistic opportunity for women-owned businesses in India and looked at indicators of business confidence, financing options, motivation, and sources of support.
The main strategy to support female entrepreneurship is DIGITAL EMPOWERMENT.Smart technology, including phones and tablets, has made it easier to strike that balance and keep their businesses growing. Women entrepreneurs are offered new opportunities through Information, Communication, and Technology (ICT) to start and grow businesses. Through new as well as traditional forms of ICTs women entrepreneurs are reaching out to customers, becoming more efficient, and building their businesses in ways they could not do before. The range of potential benefits ICTs offer is extensive, including better access to crucial information in areas such as business development, market, and pricing information, production technologies, compliance, forecast, and training. There is increasing evidence that more and more women are becoming interested in small business ownership and actually starting up in business.
Because of Apps, Web 3.0 is more efficient than the traditional web as it provides efficiency, transparency, and innovation, I believe that every business that wants to survive and thrive in the digital world’s future must adapt to the web 3.0.
Here are three critical reasons why women entrepreneurs must be Web 3.0-ready.:
- Innovation and change
- Digital ownership
- Credibility and mass popularity
There is more technology like AI which helps to improve business so that women entrepreneurs can run their businesses well. By deploying the right AI technology, your business may gain the ability to: save time and money by automating and optimizing routine processes and tasks. increase productivity and operational efficiencies. make faster business decisions based on outputs from cognitive technologies.
Expanding digital knowledge, and access, and assuming connected devices to lower-income for females will have a significant impact. Women entrepreneurs must quickly learn new skills as many businesses go digital. E-learning is a fantastic opportunity for all women because it only takes 40-60% of the time to learn.
Digital technology makes an integral part of all entrepreneurship development programs for women. Approach, devices as well as digital education -especially smartphones- play a vital role in supporting the sustainability of women’s entrepreneurship. With the proper networking and use of digital products, women entrepreneurs can not only sustain themselves in the business world but also they can grow their business and contribute better to India’s GDP in the year to come.
(The author is Mrs. Deepti Gupta, CEO Treasure Records and the views expressed in this article are her own)