Ben Woodhead Deputy editor - digital

Ben Woodhead is deputy editor - digital at the Financial Review Group. He writes on business, technology, politics and the economy and can be found on BRW, The Australian Financial Review and Smart Investor.

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What India’s entrepreneurial women think

Published 27 August 2012 06:02, Updated 28 August 2012 06:08

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Business is booming for India’s entrepreneurial women, although their technology needs are becoming more complex and they reckon it’s important for company founders to hold down two jobs at least during the start-up phase.

That’s the finding of a Dell survey of India’s women entrepreneurs, conducted in April and first promoted in June at a Dell Women’s Entrepreneur Network event in New Dehli.

Among the findings:

  • Women entrepreneurs in India expect their businesses to grow at an average of 90 per cent over the next five years.
  • 71 per cent say business is booming and 80 per cent say they are hiring.
  • 90 per cent are working a day job while they get their own business up and running.
  • 74 per cent say their technology needs are becoming more complex
  • 41 per cent say their spouses are the top source of advice when starting a business

The survey also took a look at top sources of funding for women starting their own business, with the findings revealing that angel investors are among the easiest sources of start-up cash while banks and credit unions are among the toughest.

The top source of funding, according to 46 per cent of survey respondents, are personal savings. Other sources include:

  • Family members (43 per cent)
  • Banks or credit unions (33 per cent)
  • Friends (25 per cent)
  • Business acquaintances (21 per cent)
  • Venture capital (17 per cent)
  • Colleagues (16 per cent)
  • Government grants (15 per cent)
  • Crowd funding (13 per cent)
  • Angel investors (11 per cent)

The poor availability of credit was cited as one of the reasons why India was rated the worst country for entrepreneurs in Asia in a Gallup poll released in early August.

According to that survey, 46 per cent of Indians believe their government makes it difficult to start a business, while 80 per cent of people who plan to start a business in the near term believe corruption is widespread.

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