Planned interventions can significantly help the economical development of countries and solve the community’s unemployment problem. Women entrepreneurship has been recognized as an important source of economic development. With visible scarcity of jobs in service sector, more women are entering to small scale businesses in almost every part of the country and helps create new jobs for themselves and for others too.
For women to grow as entrepreneurs had to face various gender related challenges, difficulty in obtaining initial finance mechanism, communication channels, restricted mobility in marketing products along with technical & non-technical skills like knowledge of latest technology, low level of education provides low level of confidence and self-reliance to women mainly engage in business related activities, which is continuous risk taking in profession requiring strategic decisions making.
Though the risk tolerance ability of women folk is high today as compared to their male counterparts but still females do lack when it comes to professionalism. Entrepreneurs with high internal locus of control, relative to those low on this trait, will be more likely to try new approaches, pursue new opportunities, initiate change instead of reacting to events, and take risks.
