According to the Entrepreneur India, 30 percent of enterprises are the women-owned business in the world. Eventually, the figure is bound to rise as we witness parity between men and women, but the road to self-establishment is not a smooth one. Women entrepreneurs experience different types of stress, which might be in the initial or developing phase, at every stage of their venture.
The following sources of stress are primary.
- 1. Stress due to Financial Management
- 2. Stress due to Work and Family Balance
- 3. Stress due to Physical and Mental Exhaustion
- 4. Stress due to Lack of Resources and Support
The financial aspect is the most prevalent driving factor for everyone. On the economic forefront, various factors induce stressful situations.
For initiating a startup, women-entrepreneurs frequently rely on family members. The husband, parents, brothers, and relatives are the most trusted members. If they are not willing or they are not capable of investing, financial stress can creep in.
Managing financial chores at the workplace can be a daunting affair. For example, dealing with the suppliers and finalizing the prices. In case the enterprise experiences economic stress, it can be an added cause of worry.
Another aspect is lack of willingness of the banks to provide business loans to women. They have been a hurdle as women entrepreneurs cannot use external sources of funds.
But nowadays, there are specific schemes primarily meant for women entrepreneurs in India. For example, Stree Shakti Package for Women Entrepreneurs and Mudra Yojana Scheme for Women. These initiatives aim at furnishing loans at subsidized rates.
This reason is one of the most apparent reasons among women entrepreneurs. Woman's role is crucial in managing family life. Moreover, businesswomen find hard in balancing work and family life.
Most of the women entrepreneurs accept the fact that they are not able to spend time with their family. Thus, this is a cause of worry that affects their business as well.
For example, children at home need a constant supervision. Hence, mother's presence is utmost importance. This situation becomes hard for business women to handle.
Physical exhaustion is bound to happen when women entrepreneurs are juggling between the professional and personal life. At the end of the day, when a woman is back from work, household chores demands attention.
A hectic day wouldn’t enable to do the household chores efficiently. And if this becomes a routine affair, it can render mental stress. Hence woman's role is centric in the home, and cannot avoid.
At the workplace, one cannot afford to be lenient otherwise it can cost them a fortune. Thus, women entrepreneurs have no choice but to embrace the jobs. Hence, physical and mental exertions are significant sources of stress among women.
Lack of resources create problems for women-owned business enterprises. For example, difficulty in dealing with the customers, not having a dedicated team in the office and sometimes not able to procure material or services at an affordable price, and so on.
Lack of family support is one among the different types of stress experienced by women entrepreneurs. The pressure is bound to creep in, when having a desire to start the venture but cannot due to lack of support.
The kinds of stress mentioned above are unavoidable but can be minimized by scheduling your daily activities. This help avoids other commitments and proficient in balancing work and family life of women entrepreneurs.
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