Women Empowerment through Skill Development and Entrepreneurship

Abstract

With the new policy of liberalization, globalization and privatization, the Indian economy has witnessed drastic changes since mid-1991. India has enormous trade potential, the concepts of entrepreneurship and skills are interrelated. Skills are essential, but not sufficient to obtain decent work. Increasing productivity through skills development must be complemented by economic growth and employment. Overall, they are a prerequisite for the government to pursue nationwide development on women entrepreneurship. Entrepreneurship is traditionally defined as the process of planning, launching, and managing a new business, which typically begins as a small business, such as a start up offering a product, process, or service for sale or for rent. Entrepreneurship development is the process of improving the skills and knowledge of entrepreneurs and building their capacity to develop, manage and organize marketing taking into account the associated risks. Entrepreneurship is central to the overall development of any nation and in recent years has gained prominence with the participation of women. Women today are more progressive and play an important role in meeting their economic needs and gaining social status. Women entrepreneurs in society mainly depend on the change of social, psychological, economic and cultural dimensions, which have a positive impact on the economic participation of developed and developing countries. In India, women play an important role in society, but their entrepreneurial potential is not recognized due to the low level of female presence in society. It is necessary to modify the mentality of women to give equal problems as defined in the Constitution. There are now various factors that motivate women to enter the field of entrepreneurship, these factors include education, the desire to be independent, the desire to earn money and make a mark in the society. Index Terms - Women Entrepreneurship Development, Empowerment, Financial Burden, Women Entrepreneurs, Family Support