Socio-economic difficulties faced by women entrepreneurs from Chennai city's slums
Keywords:
socio-economic challenges, poverty alleviation, economic opportunity, economic growth, entrepreneurship, women entrepreneurs, slumsAbstract
Poverty is the main barrier to the development of every nation, and India is no exception. The elimination of poverty in India has been the focus of numerous Five-Year Plans since 1951, but despite significant progress in this direction, it is still a long way off. Creating sustainable livelihood options for people is one of the most effective ways to end poverty. This may be done through encouraging micro-businesses, particularly those owned by women, which will, in the long run, spur economic growth and bring wealth to women's lives. For the past 20 years, women have worked to support their families while still taking care of the home. A sizable number of married women have recently delved into micro-level entrepreneurial activities, but for a variety of reasons, they were unable to sustain their entrepreneurial endeavors. The main goal of this study is to identify the issues that women business owners, particularly those from Chennai's slums, confront. Both primary and secondary data were used in this investigation. The core data from 120 slum-dwelling women who largely rely on their businesses as a source of income were collected using a non-probability sample, practical sampling technique. According to the study's findings, women in Chennai's slums engaged in micro-businesses within the confines of their local communities. Additionally, it demonstrated that the age of female entrepreneurs had little bearing on their success. However, in addition to business issues, these women often struggle with a wide range of personal, financial, knowledge, marketing, social, and psychological issues. The majority of women are unaware of the many government policies and programmes that assist entrepreneurship. It is discovered that family income is unrelated to the issues facing the women business owners in slums. Therefore, it is advised that NGOs and the government approach them at their doorstep, assist them in finding solutions to their issues, and help them become prosperous small business owners.
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