The foundational stones of gender equality are key for building the road to sustainable development for all. Women are not just potential beneficiaries of efforts to achieve the ambitious Sustainable Development Goals (SDGs) by 2030. They are also active participants in achieving them.

Women’s economic contribution in India accounts for 17% of the GDP, which is less than half the global average. COVID-19 exacerbated the situation when women lost livelihoods and employment, income from the business decreased, and the burden of unpaid care increased. UN Women reported that during the first lockdown in 2020, 47% of women lost their jobs compared to 7% of men who were left without jobs. Of the countries in the Central and East Asia region, the pandemic hurt women entrepreneurs in India the most, with two-thirds of women attributing recent business closures to the pandemic. India is now the third largest start-up ecosystem in the world. Yet, women own only 20% of all enterprises in India. ¹

Sustainable economic development for equality

Women’s participation in the economy is essential for not only gender equality and sustainable economic development, but also for poverty alleviation. They play a vital role in driving economic growth, fostering innovations and promoting social development. Evidences suggest that businesses with at least one woman founder have more inclusive work culture, employ thrice more women than men and generate 10% more cumulative revenue.² Understanding the potential and need of utilising the gender dividend, HPPI has been giving skill and livelihood training to many women entrepreneurs.

Women entrepreneurs often prioritise social and environmental goals alongside their business objectives. Wherever possible, HPPI promotes the establishment of nutritional gardens. Be it on a rooftop, a balcony, or on available land near homes. It is our constant endeavour to work towards generating awareness about healthy food habits and eating fresh organic vegetables and fruits. In some cases, nutritional gardens also become an income-generating activity for women. If they grow more vegetables and fruits than the family need, they can sell them in the market and earn money. They are more likely to address social challenges, contribute to community development, and promote sustainable practices. Women-led businesses are known for supporting local communities while fostering positive change.

Business women have a unique understanding of the needs and preferences of women consumers, who constitute a significant market segment. By catering to this market and developing products and services that meet women’s specific requirements, women entrepreneurs can seize untapped business opportunities and drive economic success.

Unique insight for innovations

Women bring diverse perspectives, experiences and ideas to the entrepreneurial landscape. Their unique insights can lead to the development of innovative products, services and business models. By encouraging women’s entrepreneurship, societies can tap into a broader range of creativity and problem-solving capabilities, fostering a culture of innovation.

Access to funding is a significant challenge for women entrepreneurs. They often face difficulties in securing capital from traditional sources due to biases and gender stereotypes.

Women entrepreneurs benefit from networking and collaboration opportunities. Building strong networks allows for knowledge sharing, mentorship and access to resources. HPPI facilitates the business woman to be linked with self-help groups for them to access banks and formal resources.

Balancing the digital gender divide is critical to achieving economic equality. Many of our programmes provide computer based functional literacy to women so that it can be leveraged to decrease the gender gap in terms of opportunities. By providing women with equal access to resources, education, mentorship and funding, we can catalyse change and contribute to a more equitable society.

Entrepreneurship can be a pathway to empowerment and economic independence for women. By starting and running their own businesses, women gain control over their financial agencies, build self-confidence and challenge traditional gender roles. Women entrepreneurs also serve as role models, inspiring other women and girls to pursue their entrepreneurial aspirations. Women’s success not only improves their own lives and those of their families, but also has ripple effect on local economies and livelihoods. In terms of social changes, the implications are far more profound.