EQUALITY MEANS BUSINESS: Factors Affecting Indian Women-Owned Small Business’ Scalability & Impact of Entrepreneurship On Financial Independence

Abstract

A significant contributor to gender inequality in India is falling rates of  women’s economic participation (ILO)  which has resulted in a lack of women’s financial independence. This study aimed to  use a mixed-method approach to investigate the impact of the creation of MSME businesses by Indian women  on their  economic and social empowerment, as well as identify the factors limiting their further  scalability. The study found that entrepreneurship resulted in statistically significant increase in women’s financial independence while simultaneously creating additional  female employment opportunities. While 95% of entrepreneurs desire  to scale their ventures, the primary factors limiting their success are lack of access to mentorship and financial assistance. Results may implicate the importance of women-specific  loan service providers and small business incubators in promoting gender equality in India.