In the ever-evolving landscape of entrepreneurship, women are not just participants but pioneers, reshaping industries, challenging norms, and driving economic growth.
Shark Tank fame Vineeta Singh, the CEO of Sugar Cosmetics, sheds light on the challenges, triumphs and prospects of women in business.
When it comes to breaking into international markets, Vineeta acknowledges the existence of barriers, especially as a woman entrepreneur.
“Just generally starting the beauty brand back in 2015 and trying to raise capital and getting into retail stores, there were a lot of barriers. I think one of the barriers was that in general, if you look at statistics, I think in India, less than 2 per cent of the capital goes to women-led companies” Vineeta Singh said.
“There are very few women consumer companies that are actually being run by women. Most of them are run by men. I realized that it was much harder for women to, in the early days, get trust from investors, get trust from business partners and, of course, raise money. But we managed to overcome those barriers and we have over the last few years also attracted to international markets” she added.
The uphill battle for funding is a common plight for many women entrepreneurs. Despite possessing innovative ideas and business acumen, women often face greater scepticism and scrutiny from investors compared to their male counterparts.
Reflecting on the impact of gender diversity in entrepreneurship, Vineeta emphasises the tangible benefits it brings to organizations.
Singh said, “If you look at it as having economic value, organizations that have more women are more profitable. Similarly, there is a study done by McKinsey that says that while today less than 20 per cent of the workforce participation is from women, if that number goes up by 10 per cent, there can be a potentially USD 800 billion GDP impact”. (ANI)
