Market opportunity, necessity drive women entrepreneurs in TN: Study

CHENNAI: Women taking up the role of entrepreneurs in Tamil Nadu was driven by a combination of factors like market opportunity, necessity, passion, impulse to create something new and an affinity for challenges, among others, suggested a study by the Indian Institute of Technology (IIT), Madras.

Social support from spouse and family, desire for work-life balance were also other factors that motivated them to get into businesses. The study by IIT associate professor, department of management studies, Rupashree Baral and Doctoral scholar Jasmine Banu was done between September and December 2019 to understand why and how women entrepreneurs chose to enter this field and the findings were released on Tuesday.

They quoted the All India report of Sixth Economic Census (2016), which said that Tamil Nadu has the most number of women-owned enterprises among all states.

“Women’s entrepreneurship is a major step contributing towards the nation’s economy, innovation, growth, and quality of life... Considering the important role of women entrepreneurs in socio-economic development, it is critical to investigate the factors that motivate, facilitate and constrain women’s entrepreneurial activities”, Baral said.

“Such an investigation is likely to foster the well-being of women entrepreneurs, and develop better initiatives, policies and programmes towards nurturing a conducive environment for women entrepreneurs,” Baral added.

Most women entrepreneurs stated that getting into business gave them a sense of accomplishment, financial security, career satisfaction, flexible working hours and a sense of happiness, the study said. Tamil Nadu has one the maximum number of women entrepreneurs and the conducive economic, socio-cultural context of the state and the educational opportunities contribute to the number of women-owned enterprises in the state, the release added.