What women entrepreneurs can do to compete in the market and earn lucrative incomes?

November 1, 2022
66 / 100

The backbone of the nation’s economy is supported by entrepreneurship, which also generates a large number of attractive jobs in the marketplace. Many more people are starting their own businesses now thanks to programs like Make in India and Vocal for Local. In addition to this, women are now playing a significant role in enhancing India’s commercial environment.

In India, women currently make up 20.37 percent of the population, which helps MSMEs function well. Despite what may appear like a modest number, these women are nonetheless on the verge of a cultural revolution despite their difficulties and obstacles. But for women to exert a strong influence and be independent, more entrepreneurial activity is required. Women entrepreneurs should make the necessary efforts to participate in this booming sector.

Observing commercial tendencies

Since research is a crucial component of any successful organization, the more they work to uncover practical and innovative business practices, the more quantitative revenue they produce.

No matter what particular market a company operates in for a living, it must be able to adapt to emerging trends and break down old barriers quickly. Entrepreneurs are mostly expected to be experts in their fields.

Therefore, reading fervently about hot subjects from trade journals is the greatest approach to obtaining information. Women who own businesses can participate in seminars and training sessions to help them learn new skills and stay current with industry trends. Additionally, by keeping in touch with your clients, you can help them understand the difference your company is making in the neighborhood. Additionally, women who are starting out as microentrepreneurs need to have a long-term outlook on the future that can take advantage of their ability to think creatively.

8 Ways Technology Is Changing Business

Recognizing the Influence of Technology

Using new technologies in a business can help female entrepreneurs stand out in the marketplace. Technology can be used to effectively manage several activities at once while allocating resources by using processes. Today, we are aware of the Internet’s potential as a global communication tool. This has opened up new markets for many rural homes and raised their profile. As we all know, the present market is being driven by STEM (Science, Technology, Engineering, and Mathematics) technologies like Artificial Intelligence, Machine Learning, Blockchain, and IoT (Internet of Things). Industry insiders think that the use of these technologies has really assisted companies in expanding their market reach. However, the truth is that there wasn’t much involvement at first from women in the development of these technologies. Therefore, a lot of time should be invested in researching these areas in order to incorporate them into your company and make them profitable.

Small businesses frequently fail because they can’t reach the correct customers. Going digital is crucial for a small business since it allows it to interact with a variety of online customers and build its brand identification. Everybody who has a smartphone in their hand is connected by the social media platform. According to a report by Deloitte, India will have 1 billion smartphone users by 2026, with rural areas being the top locations for internet-enabled smartphone use. Therefore, companies that operate in faraway locations can create a name for themselves on the internet. Additionally, business leaders can use social media to persuade other worthy women to overcome their societal barriers and pursue entrepreneurship. It may lead to the emergence of a number of new professions, resulting in the creation of new jobs for women in both urban and rural locations.

4 ways to adapt your business to new technologies - The Business Journals

Getting Assistance from Reputable Sources

It is essential to seek support from reputable organizations in order to expand or launch a new business, particularly in rural areas where resources are scarce. Community networks are a perfect answer for these female entrepreneurs among these platforms. In order to make these women autonomous and business-ready, they offer assistance and help in every manner imaginable, including market access, network, financial support, and training sessions. By doing this, they can enhance productivity and, ultimately, profits. By staying connected, these female business owners may take advantage of numerous opportunities across various industries and deliver their products and services as effectively as possible. These well-established platforms are aware of these women’s difficulties and may provide answers and tactics to help them stand on their own.

Final thoughts

Women have demonstrated that they have the potential to be just as competent as males, notwithstanding the gender disparity in the entrepreneurship field. Women business owners merely need the best possible platform to display their talent. According to the McKinsey Global Institute, if women in India are given the same chances as males, they might contribute up to $770 billion in economic income by 2025. Additionally, according to Bain & Company, female entrepreneurs can make between $150 and $170 million. Jobs for people of working age by 2030. Regardless of their size, businesses have an equal role in moving the country forward. Additionally, aspiring women business owners can take advantage of the market’s rich revenue opportunities by using contemporary technical developments, local networks, and the power of digitization.

Categories

More Posts:

Nyago Michael Emmanuel

We invite many people who can invest in our Akiba Ya umoja community benefit savings and investment group of Uganda to enable us expand our operations in Uganda

Strategies and Technology for Female Entrepreneurs

Since entrepreneurship is the foundation of any nation's economy, it is essential to economic development in developed and developing nations. In the last several decades, there has been a significant improvement in the role of women in our society. Women are now...

Role of female entrepreneurs in a changing society

Over the past few decades, there has been a significant increase in female entrepreneurship. More women are choosing to launch their businesses and participate in the world of business creation, one of the rapidly expanding facets of entrepreneurship globally. But in...

Need to take gender out of the VC investment evaluation matrix: Titan Capital

In spite of the fact that women have made significant gains in the ecosystem of entrepreneurial activity in the country over the course of the past decade, the situation is still dismal since women continue to confront formidable obstacles. According to Google Bain...

EDII to join hands with corporates to create 10,000 women-led green businesses

EDII Director General Sunil Shukla stated that the institute has been successful in giving entrepreneurial and skill development training to craftsmen, weavers, women startup founders, and the unemployed, which has led to sustainable livelihood possibilities for those...

WHY THE WORLD NEEDS WOMEN ENTREPRENEURS?

INTRODUCTION For one, women are often natural problem-solvers and are very good at multitasking. This makes them well-suited for starting and running their businesses. Additionally, women are often very good at networking and building relationships, which can help...

A start-ups boom in the US, led by female entrepreneurs

According to the findings of a recent poll, women and people of color are spearheading the surge in the formation of new businesses in the United States. According to Gusto, a firm that provides cloud-based human resources software, over half of all new businesses in...

New Data Shows Growth in Women Entrepreneurs up 48%; Outpacing Male Counterparts by Over 20%

Women in every region of the globe are emerging from the relative obscurity of the home and family spheres to assume positions of authority in fields that were traditionally seen as being solely the purview of males. The tides are turning in a positive direction at...

6 Ways to be a SUPER Mom

Mothers are the strongest. They carry a child, bear the pain of birthing, bring children up, fulfill all responsibilities, play several roles, and make it look oh so easy. That’s why we have given mothers the title of super mom. Society expects mothers to be...

Are leaders born or made?

While some people might already have the qualities and skills that make them great leaders they can still improve their leadership abilities. Even if someone doesn't seem to be a leader, that doesn't mean they won't learn leadership skills from a leadership training...
Nyago Michael Emmanuel

Nyago Michael Emmanuel

We invite many people who can invest in our Akiba Ya umoja community benefit savings and investment group of Uganda to enable us expand our operations in Uganda

All Categories

Business Operations

Entrepreneur Interviews

Marketing, Networking, & Social Media

Self Care & Personal Development

Working Moms

Business Software and Technology

Entrepreneurship & Small Business

Organizing Tips

Sales

Career Building

Family Businesses

Inspiration

Starting Your Own Business

Work-Life Balance

Communication

Hiring Help

Management & Leadership

Time Management & Priorities

Women in Leadership

Recent Posts

Soe Tun: The Copy Doctor

Soe Tun: The Copy Doctor

Autistic kid finds out that he’s unemployable and doesn’t enjoy most social settings. Decides to be a pro copywriter as a result.

Annie Anderson – Business Strategist & WordPress Creator

Annie Anderson – Business Strategist & WordPress Creator

Annie Anderson is the owner and digital creator at Midnight Rebel Digital Co. With over 25 years experience in design and development and more than 15 years experience with WordPress, Annie is a great person to have in your corner when it comes to websites, tech, and systems.

How Startups Can Ensure Health and Safety at the Workplace

How Startups Can Ensure Health and Safety at the Workplace

Everyone, including the owners, management, and staff, is responsible for ensuring workplace safety. All parties must take the proper steps so that no one is harmed while working. If you are looking for ways to keep your workplace safe, here are ten tips to help you out.

Product Mistakes You Might Be Making at Your Business

Product Mistakes You Might Be Making at Your Business

Running a business isn’t easy, and making product-related mistakes can cost your company time and money. From creating products without doing market research to holding excess inventory or failing to file patents, there are numerous pitfalls that you need to be aware...

Occupational Hazards That Come With an Office Job

Occupational Hazards That Come With an Office Job

Working in an office can be a great way to make a living, but it also comes with certain risks. Sitting at a desk for long hours and staring at screens can lead to physical ailments that not only cause discomfort but could eventually lead to more serious health...

How to Make Your Social Media Campaigns More Relevant

How to Make Your Social Media Campaigns More Relevant

Social media is a powerful tool for businesses of all sizes. It allows you to connect with customers and followers in a way that was never possible before. However, it's important to make sure your social media campaigns are relevant to your target audience. Here are...