ENTREPRENEURSHIP DEVELOPMENT

INTRODUCTION
Entrepreneurship has traditionally been defined as the process of designing, launching
and running a new business, which typically begins as a small business, such as a startup
company, offering a product, process or service for sale or hire. It has been defined as the
"...capacity and willingness to develop, organize, and manage a business venture along with
any of its risks in order to make a profit." While definitions of entrepreneurship typically
focus on the launching and running of businesses, due to the high risks involved in launching
a start-up, a significant proportion of businesses have to close, due to a "...lack of funding,
bad business decisions, an economic crisis -- or a combination of all of these" or due to lack
of market demand. In the 2000s, the definition of "entrepreneurship" has been expanded to
explain how and why some individuals (or teams) identify opportunities, evaluate them as
viable, and then decide to exploit them, whereas others do not, and, in turn, how
entrepreneurs use these opportunities to develop new products or services, launch new firms
or even new industries and create wealth.
Traditionally, an entrepreneur has been defined as "a person who organizes and
manages any enterprise, especially a business, usually with considerable initiative and risk".
Rather than working as an employee, an entrepreneur runs a small business and assumes all
the risk and reward of a given business venture, idea, or good or service offered for sale. The
entrepreneur is commonly seen as a business leader and innovator of new ideas and business
processes." Entrepreneurs tend to be good at perceiving new business opportunities and they
often exhibit positive biases in their perception (i.e., a bias towards finding new possibilities
and seeing unmet market needs) and a pro-risk-taking attitude that makes them more likely to
exploit the opportunity. "Entrepreneurial spirit is characterized by innovation and risktaking." While entrepreneurship is often associated with new, small, for-profit start-ups,
entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and
established firms and in for-profit and not-for-profit organizations, including voluntary sector
groups, charitable organizations and government. For example, in the 2000s, the field of
social entrepreneurship has been identified, in which entrepreneurs combine business
activities with humanitarian, environmental or community goals.

An entrepreneur is typically in control of a commercial undertaking, directing the

factors of productionthe human, financial and material resourcesthat are required to exploit
a business opportunity. They act as the manager and oversee the launch and growth of an
enterprise. Entrepreneurship is the process by which an individual (or team) identifies a
business opportunity and acquires and deploys the necessary resources required for its
exploitation. Entrepreneurship typically operates within an entrepreneurship ecosystem which
often includes government programs and services that promote entrepreneurship and support
entrepreneurs and start-ups; non-governmental organizations such as small business
associations and organizations that offer advice and mentoring to entrepreneurs (e.g., through
entrepreneurship centers or websites); small business advocacy organizations that lobby the
government for increased support for entrepreneurship programs and more small businessfriendly laws and regulations; entrepreneurship resources and facilities (e.g., business
incubators and seed accelerators); entrepreneurship education and training programs offered
by schools, colleges and universities; and financing (e.g., bank loans, venture capital
financing, angel investing, and government and private foundation grants). The strongest
entrepreneurship ecosystems are those found in top entrepreneurship hubs such as Silicon
Valley, New York City, Boston, Singapore and other such locations where there are clusters
of leading high-tech firms, top research universities, and venture capitalists. In the 2010s,
entrepreneurship can be studied in college or university as part of the disciplines of
management or business administration.
HISTORY
Before the 20th century, female operated small businesses as a way of supplementing
their income. In many cases, they were trying to avoid poverty or were replacing the income
from the loss of a spouse. At that time, the ventures that these women undertook were not
thought of as entrepreneurial. Many of them had to focus on their domestic responsibilities.
The term entrepreneur is used to describe individuals who have ideas for products and/or
services that they turn into a working business. In earlier times, this term was reserved for
men.
Women became more involved in the business world only when the idea of women in
business became palatable to the general public; however, this does not mean that there were
no female entrepreneurs until that time. In the 17th century, Dutch colonists who came to
what is now known as New York City, operated under a matriarchal society.
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In this society, many women inherited money and lands, and through this inheritance,
became business owners. One of the most successful women from this time was Margaret
Hardenbrook Philipse, who was a merchant, a ship owner, and was involved in the trading of
goods. During the mid 18th century, it was popular for women to own certain businesses like
brothels, alehouses, taverns, and retail shops. Most of these businesses were not perceived
with good reputations; because, it was considered shameful for women to be in these
positions. Society frowned upon women involved in such businesses; because, they detracted
from the women's supposed gentle and frail nature. During the 18th and 19th centuries, more
women came out from under the oppression of society's limits, and began to emerge into the
public eye. Despite the disapproval of society, women such as Rebecca Lukens flourished.
In 1825, Lukens took her family business of Iron works, and turned it into a profitgenerating steel business.

In the 1900s, due to a more progressive way of thinking, and

the rise of feminism, female entrepreneurs began to be a widely accepted term. Although
these female entrepreneurs serviced mostly female consumers, they were making great
strides. Women gained the right to vote in 1920, and two years later, Clara and Lillian
Westropp started the institution of Women's Savings & Loan as a way of teaching women
how to be smart with their money. As society progressed, female entrepreneurs became more
influential.
With the boom of the textile industry and the development of the railroad and
telegraph system, women such as Madame C. J. Walker took advantage of the changing
times. Walker was able to market her hair care products in a successful way, becoming the
first African American female millionaire. Carrie Crawford Smith was the owner of an
employment agency opened in 1918, and like Madame C. J. Walker, sought to provide help to
many women by giving them opportunities to work. During the Great Depression, some of
the opportunities afforded to women took a backseat and society seemed to reverse its views,
reverting to more traditional roles. This affected women working in business; however, it also
served as a push to those involved in the entrepreneurial world. More women began to start
their own businesses, looking to survive during this time of hardship. In 1938, Hattie
Moseley Austin, who had begun to sell chicken and biscuits after her husband died, opened
Hattie's Chicken Shack in Saratoga Springs, NY.

During WWII, many women entered the workforce, filling jobs that men had left
behind to serve in the military. Some women, of their own accord, took these jobs as a
patriotic duty while others started businesses of their own. One of these women was Pauline
Trigere, who came to New York from Paris in 1937, started a tailoring business that later
turned into a high-end fashion house. Another woman was Este Lauder, who was working
on the idea for her beauty products which officially launched in 1946, a year after the war
ended. When the war ended, many women still had to maintain their place in the business
world; because, many of the men who returned were injured.
Schemes of Ministry of MSME
o Trade related entrepreneurship assistance and development (TREAD)
scheme for women
o Mahila Coir Yojana
To read more on activities of Ministry of MSMEs for women development, click
here.
Schemes of Ministry of Women and Child Development
o Support to Training and Employment Programme for Women (STEP)
o Swayam Siddha
Schemes of Kerala State Womens Development Corporation
o Self employment loan programmes
o Educational loan schemes
o Single women benefit schemes
o Job oriented training programmes
o Marketing support for women entrepreneurs

o Autorickshaw / school vans driver scheme

Kerala Governments Women Industries Programme
Delhi Governments Stree Shakti Project
Schemes of Delhi Commission for Women (Related to Skill development and
training)

CONCLUSION
The Federation of Business and Professional Women's Clubs were sources of
encouragement to female entrepreneurs. They often would hold workshops with already
established entrepreneurs, such as Elizabeth Arden, who would give advice. During the
1950s, women found themselves surrounded by messages everywhere, stating what their role
should be. Domesticity was the overall public concern and a theme that was highly stressed
during this time, and women had to juggle combined home responsibilities and their career.

REFERENCES

http://www.bbamantra.com/women-entrepreneurship/
http://smallb.sidbi.in/%20/fund-your-business%20/additional-benefits-msmes

%20/women-entrepreneurship
http://www.yourarticlelibrary.com/entrepreneurship/women-entrepreneurs-concept-

and-functions-of-women-entrepreneurs-explained/41096/3
https://www.entrepreneur.com/topic/women-entrepreneurs
https://yourstory.com/herstory/