70% of women entrepreneurs start businesses from self-motivation: Study

98% have positively impacted families, personal lives and the larger ecosystem by virtue of their businesses

A study by NeoGrowth reveals the transformative power of women entrepreneurs in India, showcasing their remarkable impact on economic growth, social dynamics, and personal empowerment. The 8th edition of the study, titled The Entrepreneurial Spirit of Women Business Owners in India, surveyed over 3,000 women business owners.

 

The study highlights that a significant 70 per cent of women entrepreneurs start businesses based on self-motivation and aspiration. With increasing professional ambitions, Indian women are increasingly viewing entrepreneurship as a means to financial independence and empowerment. Around 66 per cent of respondents cited career experience and ambition as the primary drivers behind starting their ventures, while only 22 per cent began out of financial necessity.

 

 

The impact of these ventures extends beyond business success, as 98 per cent of respondents reported that their businesses have positively influenced their families, personal lives, and communities. More than 61 per cent have seen an improved standard of living for their families, while 54 per cent reported increased confidence and financial self-reliance.

 

Breaking barriers and gaining recognition 

Women entrepreneurs are also reshaping societal norms, with 90 per cent reporting an increase in respect and acceptance within their communities due to their entrepreneurial journeys. Cities like Kolkata (96 per cent), Hyderabad (94 per cent), and Ahmedabad (90 per cent) are leading in fostering a supportive environment for women-led businesses.

 

Moreover, women business owners are proving to be role models for others. The study found that 67 per cent of women entrepreneurs have empowered others towards financial independence, 50 per cent have inspired employees to start their ventures, and 47 per cent have encouraged young girls to pursue education.

 

Independence and financial discipline 

A notable 81 per cent of women business owners run their businesses independently, with only a small percentage relying on family or spousal support. The study further found that financial discipline is a key factor in their success, with 93 per cent of respondents actively managing their finances through timely EMI payments, informed decision-making, and maintaining a strong credit score.

 

“It is heartening to witness how women in India are exploring business ownership, and driving inclusive growth like never before. Women-led businesses are not just creating economic value but also redefining leadership by showcasing meticulous approach to business management, fostering workplace empathy, and driving a positive work culture,” said Arun Nayyar, managing director & CEO, NeoGrowth.

 

Overcoming challenges and embracing technology 

Despite facing gender biases (27 per cent), market fluctuations (34 per cent), and resource constraints (32 per cent), women entrepreneurs continue to innovate and thrive in their businesses. Notably, 90 per cent of respondents are adopting technology to drive business growth, integrating digital solutions for better visibility, customer engagement, order fulfillment, and cost optimisation.

 

The findings from NeoGrowth’s NeoInsights study reinforce the critical role of women entrepreneurs in India’s economic and social progress. By breaking stereotypes, driving financial independence, and embracing digital transformation, these women are not only building businesses, but also shaping a more inclusive and prosperous future for the country.