Entrepreneurs play a key role in in the development of economies all over the world. Women entrepreneur across the globe plays equal role with their men counterparts in economic development. Women entrepreneurship development in Nigeria has been recognized as very important to national development because of the economic benefits in both developed and less developed countries. Women have the uncommon capability to grow and contribute meaningfully to the development of any nation when empowered. Development of women entrepreneurship is the easiest approach to economic vitality.
This has been proved incorrect because Gender and Development has clearly identified the role of women entrepreneurs. Now-a-days, service sector has played a significant role in providing employment opportunities to women. Besides most of women lives in semi-urban and rural areas and a lot of measures have been taken to promote women entrepreneurs. It is observed that women can establish business unitsin those areas where they have core competency. Women have proved their core competency in the areas of Information Technology (IT), management, personal careservices and health care services.
Entrepreneurship brings about women’s economic independence and improves their social status which in turn empowers them. The importance of promoting women entrepreneurship is now being increasingly realized globally. It empowers women by bringing them into main stream of development and improves their economic status and provides new employment opportunities by
3. LITERATURE REVIEW 3.1. A study in India entitled "Barriers of Women Entrepreneurs: A Study in Bangalore Urban District", has concluded that despite all these constraints, successful women entrepreneurs do exist. Women entrepreneurs have evidently more to ‘acquire’ than their male counterparts. But, the socio-cultural environment in which women are born and raised hinders them.
They have limited access to loans, and will most likely only be able to access one through a man representative. Social norms and dominant family laws have confined more women to less profitable ventures and domestic tasks; rather than helping hone their entrepreneurial potential by running their own firms, or making meaningful impact in the business space. The UNDP 's 2016 Africa Human Development Report estimates that economic and social discrimination against women is costing Africa about $95 billion a year. If we must grow Africa through entrepreneurship, then we must empower the girl child to succeed in the society. Other issues like inconsistent government policies, lack of skilled manpower, unfavourable advantage of already successful businesses over start-ups, lack of international exposure, and other pertinent concerns are ones that should be addressed in order to properly harness the entrepreneurship spirit of the young African man and
Their production capacity is also hampered by limited access to productive resources such as land, seeds and credit. Some aspects of this lack of resources and the implications in terms of gender will be discussed below. The challenges facing women are compounded when a government or a food company lobbied the peasantry that he sells his land for a farm. Sometimes when these governments and businesses exploit the weaknesses of laws and rights to land ownership. Because land tenure systems are commonly discriminate against women, they see reduced their opportunities to participate in decisions and to assert their rights, such as to seek legal recourse.
These four aspects have been identified by Mosedale (244). Academics agree on the notion that, for a woman to be empowered, she must have experienced disempowerment before, for instance, in her relations to men. Also, empowerment is something that has to be claimed by the woman itself; it cannot be brought upon them by other parties such as agencies engaged in social change. The role of these agencies lies in assisting women, through the creation of more favourable circumstances in order to bring about female empowerment. Moreover, while there has been found proof that women attempt to empower themselves through joint efforts, development agencies are rather intervening on an individual basis.
An entrepreneur is someone who should be willing to handle the danger of a business endeavor where there is a noteworthy chance for making profit. Entrepreneurship is essentially the act of establishing a business keeping in mind the end goal to make profit on a freshly discovered opening in the market. Entrepreneurship is a testing job as a number of businesses which begin fail to be successful. Entrepreneurship has numerous instabilities particularly when new goods are made for which there is no market. Entrepreneurship influences economic growth in different ways.
184.108.40.206 The Role of Banks in Promoting Women Entrepreneurship From the study of the survey it is found that the majority of the women entrepreneurs lag behind to ask for help from bank officials for business due to the lack of knowledge of how to get them and for the uncomfortable feeling to communicate with the male bank officials. Evidences show that women entrepreneurs who have takes advice from the bank are running their business positively. There is a continuous decrease in the rate of interest on a bank loan for the women entrepreneurs. 12% of the total women entrepreneurs has received a rate of interest less than or equal to 10% in 2009 which increased to 30% in 2013, due to the increase of term loan through women dedicated schemes of the banks. It proves a positive response to the policy of refinancing scheme of Bangladesh Bank.
Further steps which can be taken by companies who want more women leaders need to introduce the following ideas. "Evaluate and reward women 's productivity by objective results, not by the number of hours at work" (Alice H. Eagly and Linda L. Carli, September