The concept of entrepreneurship has gained worldwide popularity in recent years. Women are becoming entrepreneurs at a faster rate as compared to men. With the advent of new millennium, the concept of women growth has led women to play an important role in the development of society and economy as a whole. They also became aware about their rights and duties with the increase in level of education. Women also joined the mainstream of income-generating activities which lead to an entire social and economic transformation. Since then they have done commendable job and came forward breaking the glass ceiling. This article throws light on the current status of women entrepreneurship in India as well as the key factors that lead to women to undertake entrepreneurship. It also focuses on major issues and challenges to be addressed for the future development of women entrepreneurs.

Entrepreneurship is derived from a French word entreprendre which to undertake. According to the Oxford Dictionary entrepreneurship means “a person who makes money by starting a new business.” The person who undertakes entrepreneurial activity is an entrepreneur. Entrepreneurship is the process through which an entrepreneur adds value and creates wealth whereas an enterprise is the object through which entrepreneur undertakes entrepreneurial activity.

The general difference between men and women entrepreneurs can be to begin with personality character which is the major demarcation between men and women. Although there are also strong similarities between men and women entrepreneurs, like both are energetic, goal-oriented and independent. However, men are often more confident and less flexible and tolerant as compared to women, which can result in very different management styles. The backgrounds of men and women entrepreneurs tend to be similar, except that most women are a little older when they embark on their ventures (35 to 40 vs. 25 to 35) and their educational backgrounds are different.

Men often have studied in technical or business-related areas; women more often have a liberal arts education. Support groups also provide a point of contrast between the two. Men usually list outside advisors (lawyers, accountants) as their most important supporters, while the spouse being second. Women rank their spouses first, close friends second and business associates third. Moreover, women usually rely heavily on a variety of sources for support and information, such as trade associations and women’s group, whereas men are not as likely to have as many outside supporters.

Global CEO Magazine, Women Entrepreneurship, Management Styles, Entrepreneurship Process, Entrepreneurs Development Programmes, Industrial Policy Resolution, Entrepreneurial Skills, Multinational Corporations, SAARC Chamber Women Entrepreneurs Council, SCWEC.