93% of Female Entrepreneurs Demonstrate Exceptional Financial Management; 81% Operate Independently: New Insights

Mumbai, March 5 (NationPress) Approximately 93 percent of women entrepreneurs display remarkable financial discipline, diligently overseeing their finances, maintaining precise records, and ensuring on-time payments, according to a recent report released on Wednesday.

Women entrepreneurs recognize that financial awareness and astute decision-making are critical to their business success. The report by NeoGrowth reveals that 81 percent of these business owners function independently, without depending on others. This trend is notably stronger among those aged over 40, who have cultivated their confidence over the years.

In contrast, younger entrepreneurs, especially those in the 21-30 age bracket, often look for support from family or peer networks as they develop their enterprises.

Nearly 70 percent of women initiated their businesses out of personal motivation and ambition rather than financial necessity. Only 22 percent started their ventures due to economic hardships, while 12 percent took over family businesses.

Women entrepreneurs are not only transforming their businesses but also making a significant positive impact on their families, communities, and the broader economy, the report indicated. An astounding 98 percent of women business owners stated that their enterprises have positively affected their families, with 61 percent noting an enhanced standard of living and 54 percent reporting increased confidence and financial autonomy.

These businesses are also contributing to a larger societal change. Numerous women entrepreneurs have empowered other women towards financial independence, inspired their employees to initiate their own ventures, and acted as role models for young girls pursuing education.

“It is uplifting to observe how women in India are embracing entrepreneurship and fostering inclusive growth like never before,” remarked NeoGrowth Managing Director & CEO Arun Nayyar.

He emphasized that women-led businesses are not only generating economic value but also reshaping leadership by demonstrating a methodical approach to business management, nurturing workplace empathy, and promoting a positive work culture.

Women entrepreneurs are increasingly gaining respect and acknowledgment in society. About 90 percent of them reported a favorable shift in the public perception of their roles due to their businesses.

Cities such as Kolkata, Hyderabad, and Ahmedabad are particularly recognized for cultivating a culture of respect and support for women-led enterprises, according to the report which surveyed 3,000 women nationwide.

Almost all of the women surveyed reported adopting new technology in their businesses to enhance customer engagement, boost productivity, and optimize costs.