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Entrepreneurship plays a pivotal role in leveraging economic growth and fostering future career opportunities. Entrepreneurial landscape is expanding gradually and more steps are taken to foster entrepreneurship, especially Pakistan. But the scope is not just limited to men, but women, too. According to the Global Entrepreneur Monitor (GEM, 2015), around 200 million women entrepreneurs are in or about to start their entrepreneurial journey in 83 economies across the world. Nurturing women entrepreneurship is inevitable for Pakistan to achieve better economic measures and job creation for fellow companions.
Gender disparity has always existed in Pakistan, and generally, entrepreneurial domain is limited to men only; because a ‘household leader’ is the society’s paradigm of an ideal woman. But due to increased living standards and related-costs, technological advancements, inflation, and increased urbanization, more women in Pakistan are giving the predominantly patriarchal system a second thought, and are jumping on the bandwagon of either doing suitable jobs or setting up small ventures. According to a research study, companies with female founders perform 63% better than companies with male founders.
Despite increased entrepreneurial orientation among Pakistani women, they face some real inhibitions, and the biggest among them are cultural traditions. Societal expectations of domestic roles are structured all-around women, specifically in rural areas, and it hinders their potential abilities.
Another major problem faced by women entrepreneurs is access to finance. Financial issues for women entrepreneurs exist throughout the world, but the intensity can vary. Developed countries may provide women entrepreneurs with easier access to finance than less-developed countries, like Pakistan, where the nation is facing the economic crisis and inflation, it seems quite difficult and a complex procedure.
However, despite all hindrances prevailing in Pakistan’s entrepreneurial ecosystem, many initiatives are now taken to foster women entrepreneurship. Now, many up-and-coming female entrepreneurs can have better access to services which facilitate and encourage for future in their initial stages. Business incubation services provide free or subsidized office and training to female entrepreneurs to test their offerings. There are three renowned incubators in Pakistan currently: The Nest i/o, LCE & Founder’s Institute, and Plan 9.
To bridge prevailing gaps, Government of Pakistan is also playing their part in expanding opportunities for female entrepreneurs with Pakistan’s Vision 2025. Its ultimate aim is to increase women labour force participation from the current level of 25% to 45% in the upcoming nine years. Besides, USAID also has partnered with different multinational companies on several projects to encourage women’s agricultural micro-enterprises in Pakistan.
Though female entrepreneurs face real inhibitions, a significant increase in women-engagement in the entrepreneurial landscape is encouraging. Despite all struggles and obstacles, increased women’s participation is indeed dedication of the Pakistani spirit.
