“Woman entrepreneurs are those who use their knowledge and sources to develop or create new business possibilities, which are actively concerned in dealing with their organizations, and own at least 50 percent of the business and had been operating business for longer than a year”. (Brunetto, 2009)
Women in every direction seem to rule the world at the moment. I really like the phrase “women are the driving force of change”. I believe you are familiar with the popular saying that what a man can do, a woman can do better. Though I can say that Women are more dedicated to business than men and that’s a fact. Thus, the business area is changing and I am sure it has to do with the rise of the woman.
“No country can ever truly flourish if it stifles the potential of its women and deprives itself of the contributions of half of its citizens.” — Michelle Obama, First Lady of the United States.
As indicated by ILO report (2016) today, women entrepreneurs represent up to 33% of all organizations working in the formal economy around the world. Women constitute 50 percent of the total population of Pakistan. Women do 66 percent of the world’s work, produce 50 percent of the food, but earn 10 percent of the income and own 1 percent of the property (Women Business and the Law World Bank, 2011). Now an undeniable fact is that without economically and socially empowering women that constitute almost half of the population, development is impossible.
Women entrepreneurship is an influential means of achieving women empowerment. Thus, the idea of women entrepreneurship is basically not a new idea in Pakistan but it is a proven statement that from the past few years’ women entrepreneurs are working as a backbone for improvement of Pakistan’s economy.
However, there is an increasing pattern of woman’s entering business industry in Pakistan and these women entrepreneurs are adding to the income of the family. Moreover, if a woman gets an opportunity of set-up their own particular organizations then they will be an essential factor of the financial development of Pakistan.
Aside from this the greater the firm the more improbable it is led by a woman in Pakistan. The attitude to society standards restrains a woman to start their own business. However, many women entrepreneurs stay restricted to low-level partner in little organizations working regularly. This problem limits their ability to earn for themselves and to support their families.
There are many well-educated women entrepreneurs; others are pursuing higher education. It’s a proven fact that the educated women don’t want to confine themselves; she can’t limit her life in the four walls of the house. The large number of women from Pakistan doesn’t get any opportunity because of various reasons; these hardworking woman’s are facing problems in their way.
At Pakistan, mostly women are not allowed to do jobs and go out of their homes even after receiving higher education from well-known institutions of Pakistan. As a result of this problem, most of these women’s stay at homes idle either by choice or by force there is no other way left. In this situation, there is a need for improvements there must be a proper course of action, to let them to play a dynamic role in the economic development of Pakistan.
Business opportunities are beneath a part of women due to non-existing accessible doors for them there are no such opportunities for them to survive in a business market. Though I can say that women of Pakistan are taking a part in domestic entrepreneurship but just because of limited and bound calibration, the role of average middle men are dominating these women entrepreneurs. Due to this reason they are unable to get the reasonable prices of their products in many areas of Pakistan.
Women entrepreneurs were, however, found to have less experience in managing employees, working in similar firms, or in helping to start-up new businesses. Women’s firms also found smaller than men’s, to have lower growth in income over years, and to have lower sales per employee.
However, Pakistani women have lower person money related resources than men. And she has less business opportunity available because she can’t access to all areas as being unaware of market situation, so I can say this unfortunately, Pakistani women entrepreneurs have a greater hard time getting money than men for the equal entrepreneurial activities. Its miles crucial to understand the gender biased embedded in society which restricted women’ mobility, interactions, active financial participation and get right of entry to organization development offerings.
Problems are faced by women entrepreneurs:
- Lack of confidence: women who want to change her destiny and want to move towards a successful life should be confident to have some strong decision-making skills. Some of these women are skillful enough to take an initiative and become an entrepreneur but they don’t seem on the surface due to lack of confidence. Though entrepreneurship itself is a risk taking activity, those who are not enough confident cannot move forward. Therefore, self-actualization is important.
- Lack of family support: the moral and financial support is essential for an entrepreneur. The moral support of family encourage women to come out of the house boundaries and work for themselves, but unfortunately, some of them are getting harder time as the people of Pakistan are tradition bounded people. Some of them don’t want women to earn they want them to fulfill household responsibilities. They consider women as a bread maker not as a bread earner.
- Lack of finances: like bank is reluctant to lend to women entrepreneurs especially if they do not have any male or family backing. This is especially true of lower-income women. Women do not have adequate finance or legal knowledge to start an enterprise. Though TDAP & SMEDA is taking some initiatives for these women entrepreneurs in finances and encouraging women entrepreneurs, but it’s up to them how they avail these opportunities. How well they use those finances or resources.
- Lack of information: rural areas women don’t have access to information. They are unaware of the market situation. Even they are unaware about their rights in society. Cognitive empowerment is essential for these women entrepreneurs.
- It is necessary that women are determined and encouraged to make use of their skills, education and productive ideas in all fields of life and contribute to business and entrepreneurship.
- The government should develop some right policies to help women entrepreneurs.
- Networking facilities must provide for these women entrepreneurs as well as entrepreneurship awareness training programs with the help of TDAP, SMEDA and local NGOs.
- Credit facilities for starting initiative business must be made available and marketing help must be provided for women entrepreneurs. All these will help foster a culture of entrepreneurship among women in Pakistan.
- Motivation for woman’s empowerment is the fairness and transparency of system. Women must have the equal and same opportunities as men. Moreover, studies show that investments in woman’s yield large social and economic returns.
The thinking that women cannot engage in productive employment should change. Women entrepreneurs need encouragement to set up small and medium scale industries on their own initiative. Entrepreneurship development for women is an important factor of economic development of Pakistan.