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Entrepreneurs play a vital role in the economic development of a country and are associated
with the overall industrial development of a nation. They are referred to as the necessary
prerequisite to mobilize capital, exploit resources and create markets to carry on trade in the
society. The word entrepreneur is derived from the French verb entrepredre which means, ‘to
undertake’. The economists of the 18th and 19th Centuries, from Cantillon to Marshall, viewed
the entrepreneurs in a stationary situation and did not relate him to the process of economic
development. In 1934, Schumpeter added a new dimension to the entrepreneur. He defined
the entrepreneur as an individual who introduces something new in the economy—a method
of production not yet tested, a product with which consumers are not yet familiar, a new source
of raw material or of new markets and the like. Schumpeter viewed an entrepreneur as a leader
who gets satisfaction by using his capabilities in solving problems (Martinelli, 1994).
Women form an important part of the labor force and the economic role played by them
cannot be isolated from the framework of development. A majority of the women seek
employment out of economic necessity, but of these a large number are unable to find
employment. It is not always easy for women to find employment compatible with their family
responsibilities and household chores. Thus, many women are attracted towards selfemployment
with flexible working hours allowing them to take care of both home and
business. The number of women venturing as entrepreneurs has grown in the last two decades.
This participation of women in entrepreneurship, specifically during the post-liberalization.
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