As four out of five women in India wish to become entrepreneurs, the country is missing out on a potential 15.5 million new businesses and 64 million additional jobs by not addressing the challenges facing such women, a new Facebook study said.

The study revealed that if just 52% of women were empowered to start a business, it would not only boost economic growth, but also help to build 15.5 mn new businesses, and create 64 mn additional jobs — all by the end of 2021.

“If we were to harness the largely untapped potential of women’s entrepreneurship and provide them greater support, it could lead to more jobs being created, economic growth and more diverse and representative small business communities,” Ankhi Das, Director of Public Policy, Facebook India, South and Central Asia, told reporters.

Women have had tremendous potential but often lacked platforms that can harness their potential, but Facebook is opening up great opportunities for them, added Aruna Sundarajan, Secretary, Ministry of Electronics and Information Technology (MeitY).

“We are very optimistic about partnering with platforms like Facebook to empower women. We are trying to forge deep partnerships with platforms like Google, Cisco and Intel for the betterment of woman’s livelihood through technology,” Sundarajan said.

Ahead of the International Women’s Day that falls on March 8, Facebook also launched “SheLeadsTech”, a programme that will give women-founded/co-founded start-ups access to a year-long programme that provides tools, mentorship and resources to help overcome some of the barriers they face.

“Facebook, with its two powerful initiatives #SheMeansBusiness and the new #SheLeadsTech programme, has opened up lot of opportunities for young woman entrepreneurs whether in small towns (with access to internet) or suburban areas — with or without access to financial resources,” Sundarajan emphasised.

Source: Business Standard