One in five women globally, according to the International Labour Organisation (ILO), intends to launch a business, and many of them have already achieved success as business owners. However, enduring gendered discrepancies continue to produce differences in the chances for women to launch and expand enterprises. That also applies to Jammu & Kashmir. Additional gender-based hurdles that restrict women entrepreneurs access to resources and opportunities lead to the concentration of smaller enterprises in industries with low potential for value addition and their overrepresentation in the informal economy. Empowering women in Jammu and Kashmir as engines of economic growth is essential given the significance of women’s entrepreneurship for inclusive and sustainable development. Due to the distinctive geographical and cultural characteristics of the area as well as its economic difficulties, fostering women’s entrepreneurship needs to be approached strategically. We can unleash the inventive potential of women, generate job opportunities, and boost economic growth in Jammu and Kashmir by encouraging them to pursue entrepreneurship. Women-led businesses can also support sustainable growth by giving social and environmental concerns priority. Women entrepreneurs in the region have many chances to lead sustainable tourism initiatives, promote regional handicrafts, and launch businesses that highlight the varied attractions of Jammu and Kashmir, thanks to the region’s rich natural resources, cultural legacy, and tourism potential.
To fully realize the potential of women’s entrepreneurship in Jammu and Kashmir, socio-cultural barriers must be removed because they prevent women from accessing resources, networks, and forums for making decisions. Their chances are frequently restricted by historical conventions and preconceptions. Providing skill development programmes, promoting mentorship opportunities, and establishing networks that enable information exchange and collaboration among women entrepreneurs are just a few of the targeted interventions needed to overcome these obstacles. In addition to empowering them personally, creating an enabling ecosystem that encourages and supports female entrepreneurs in Jammu and Kashmir would also help create a society that is more inclusive and equitable. To give financial support, capacity building, and mentorship, the Central Government of India has recognized the crucial role that women entrepreneurs play and has developed programmes including Stand-up India, Mudra Yojana, and the Women Entrepreneurship Platform (WEP). Women business owners in Jammu and Kashmir have already started to unite to build platforms that foster entrepreneurship, foster business prospects, and empower one another through group support at a minimal level. The cultivation of a culture that supports female entrepreneurship requires education and awareness on a major scale. Sharing the successes of local women entrepreneurs can act as significant inspirations and role models by incorporating entrepreneurship education into official and informal educational institutions. We can remove barriers and change the socioeconomic climate of Jammu and Kashmir by encouraging women’s entrepreneurship. Women’s entrepreneurial endeavours will lead to a beneficial change that benefits society as a whole, along with their dedication to sustainable practices, cultural preservation, and community empowerment. Women’s entrepreneurship in must get consistent support from the government, work with appropriate organizations, and be part of a broad ecosystem that removes obstacles and offers essential resources. We can create the conditions for inclusive economic growth, progress, and a better future for Jammu and Kashmir by supporting female entrepreneurs.
Industrial policymakers must also create a women-specific policy with unique incentives and windows for entrepreneurship to promote a supportive environment for female entrepreneurs. First and foremost, the legislation ought to provide financial incentives designed especially for female entrepreneurs. This might take the form of grants, loans, and subsidies that favour women-owned businesses and help them get the resources and funding they need to launch and grow their businesses. Second, it is necessary to create special support systems, like incubation hubs and entrepreneurship development centers. These facilities can provide full support, including mentoring opportunities, access to networks and markets, and assistance with business development. Women entrepreneurs can develop their skills, expertise, and confidence to succeed in their entrepreneurial endeavours by offering a supportive environment and customized guidance. Thirdly, a crucial component of the policy should be the openness and accessibility of data related to women’s entrepreneurship. Research, analysis, and decision-making based on solid evidence will be aided by the publication of pertinent data in the public domain. Additionally, it would promote accountability and allow stakeholders to monitor the development of female entrepreneurs, highlighting areas that require additional assistance and intervention. Additionally, it is crucial to actively engage with numerous stakeholders. The process of developing policies should involve women business owners, trade associations, academic institutions, and civil society organizations. This cooperative approach will make sure that the policy encompasses varied viewpoints and expertise and is in line with the needs and goals of female entrepreneurs. The policy should also foster gender-responsive business environments and gender mainstreaming. This calls for promoting equality of opportunity, combating gender bias, and promoting inclusivity across all fields and professions. It should promote the inclusion of women in positions of leadership and emphasize the significance of gender equality in business ecosystems. Jammu & Kashmir can establish an atmosphere that supports female entrepreneurs and promotes sustainable economic growth by putting these suggestions into practice. The untapped potential of women entrepreneurs will be unlocked by a women-specific strategy with specialized incentives, support mechanisms, and transparent data dissemination, resulting in higher innovation, job creation, and general socioeconomic development. Jammu & Kashmir can fully harness the transformative power of female entrepreneurship and pave the way for a more inclusive and prosperous future through these concentrated initiatives.