Mumbai, March 5 (IANS). About 93 percent of the female entrepreneurs actively manage their finance, keep careful records, ensure timely payments and follow strong financial discipline. This information was given in a latest report on Wednesday.
Women entrepreneurs believe that taking financial awareness and smart decisions is important for the success of their businesses.
According to the report of Neogroth, 81 percent of women business owners work independently without depending on others.
This trend is particularly prominent among people over 40 years of age, who have created confidence over time.
However, in particular, young entrepreneurs coming in the age group of 21–30 seek support from their families or networks to increase their business.
About 70 percent of women started their business with self-induction and aspiration instead of financial requirement. Only 22 percent started their enterprise due to financial challenges, while 12 percent handled family businesses.
The report states that women entrepreneurs are not only changing their business, but also have positive impact on their families, communities and economy.
98 percent of women business owners stated that their businesses have positively affected their families, 61 percent have reported to improve standard of living and 54 percent have reported more confidence and financial freedom.
These businesses are also making widespread social impacts. Many women entrepreneurs have empowered other women for financial freedom, have inspired their employees to start their venture and served as a role model to young girls to get education.
Arun Nayyar, managing director and CEO of Niogroth, said, “It is encouraging to see how women in India are searching for business ownership and carrying forward more inclusive growth than before.”
He said that women -led businesses are not only creating economic values, but also defines the leadership by redefining the leadership by promoting a careful approach to business management, workplace sympathy and further positive work culture.
Women entrepreneurs are also receiving respect and recognition in society. About 90 percent of them said that due to their business, there has been a positive change in the society.
A reporting a survey of 3,000 women across the country said that cities like Kolkata, Hyderabad and Ahmedabad are known to promote the atmosphere of respect and encouragement for women -led businesses.
Almost all the women involved in the survey also talked about increasing customer engagement, improving productivity and integrating new technology in their businesses to customize costs.
-IANS
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