Challenges Faced by Women Entrepreneurs in Economic Development in India

In recent years, the global entrepreneurial landscape has seen a significant transformation, particularly in women entrepreneurship. However, the scenario differs in India. Despite making up 48.5% of the population, women account for only about 14% of entrepreneurs. Research indicates this gap is largely due to persistent challenges that discourage women's participation. In this context, this study investigates the challenges faced by women entrepreneurs in India during the establishment and management of new business ventures, while also examining their contributions to socio-economic development through innovation and creativity. The research adopted a qualitative methodology to collect and analyze secondary data from five specific documents. The data was examined using a combination of document and content analysis, with the aid of NVivo 14 software. The analysis revealed five key themes: the rise of women entrepreneurs in India, persistent gender stereotypes, various internal and external challenges, women's role in socio-economic development, and the urgent need for three-tier strategy. According to the findings, women make up only 14% of entrepreneurs in India. Moreover, women-led enterprises are notably rare, particularly in the formal sector, where they account for less than 5% of all businesses. The findings further indicate that women entrepreneurs encounter a range of internal challenges, including limited education, inadequate entrepreneurial skills, health concerns, low self-confidence, and restricted access to entrepreneurial networks. In contrast, external challenges comprise gender discrimination, limited financial resources, lack of training and infrastructure, poor awareness of entrepreneurial opportunities, work-life imbalance, competitive market conditions, and labor market constraints. Despite these barriers, women entrepreneurs significantly contribute to socio-economic progress by creating employment, mobilizing capital, alleviating poverty, promoting economic growth, challenging traditional gender norms, and fostering balanced regional development. In addition, the study recommends a three-tier collaborative strategy—personal, societal, and governmental approaches—to effectively tackle the challenges confronted by women entrepreneurs in India.