Women entrepreneurs play a vital role in economic development. Women feel more empowered when they start earning and become independent, responsible persons. Women entrepreneurs are not only creating job opportunities but also economic security. Women can be economically empowered through job creation, capacity building and leadership. Women entrepreneurs are economic drivers.
Women entrepreneurs supported by their families tend to do better than women who face difficulties due to a lack of support. Family is the fundamental factor for a solid social life. All individuals are a part of society where they are born; they share space with one another. Social institutions preserve and protect the human race. A family is a group of people living together and supporting one another. Women are an integral part of any society. Even illiterate women entrepreneurs of rural areas practise and use techniques of effective management.
Social and financial development of women and their performance are also dependent on women empowerment – how easily one can start a business and become independent without a social barrier. Women face many problems that restrict empowerment, for instance, religious superstition, lack of education and awareness.
In earlier times, women’s lives were limited to domestic responsibilities and their obligation to perform household chores, but the situation is different now. Without financial and moral support of their families, it is almost impossible for women to be successful.
Women’s decisions are frequently influenced by their family members.
Many women entrepreneurs are greatly influenced by their husbands and other family members.
Pakistan’s economy because of underdevelopment, a low industrial production level and balance of payment difficulties is unable to provide an equal or peaceful environment for business.
Low or negative GDP growth rates and high cost of borrowing have weakened the role of women entrepreneurs in Pakistan
Inflation and rapid population growth also restrict economic space. Low or negative GDP growth rates and high cost of borrowing have weakened the role of women entrepreneurs in Pakistan.
Women entrepreneurs in Khyber Pakhtunkhwa have little access to micro credit. In Peshawar, where micro-finance institutions, non-profit organisations and federal government do provide micro loans, they have done relatively well. Even so, the role of the provincial government in encouraging women entrepreneurs has been limited.
Many women lack knowledge about market conditions and pricing skills. Many are unfamiliar with the rules and regulations related to their business. Some of them are not free to take decisions and to select the business of their choice.
Women entrepreneurship in KP remains limited to promotion of economic diversification and export to a niche market for future growth and a higher living standard. Increasing entrepreneurship activities among women entrepreneurs of KP can bring greater prosperity to the region. Pro-active measures to build assets and to connect women entrepreneurs to markets are essential in this regard.
Women can also be empowered through job creation. The country will develop faster if more opportunities are available to women entrepreneurs. They will earn not only for themselves but also for their families. Women are now thriving not only in small businesses but also in previously male-dominated professions. Supporting women entrepreneurs can help reduce their dependence on men.
The writer is a PhD scholar