India has emerged as the best place for women entrepreneurs to start business with high level of optimism on various factors that are important to judge business growth, said a study by PC maker Dell.
‘According to the study commissioned by Dell, we have found the ideal country for a woman starting a business in 2012 could well be India,’ Dell chairman (global emerging markets) and president (Asia Pacific) Amit Midha said.
In Dell Women’s Global Entrepreneurship Study conducted across 450 women entrepreneurs across India, the US and the UK by research firm Penn Schoen Berland found that Indian women entrepreneurs are more confident of their business growth compared to counterparts in the US and the UK.
The study found that women entrepreneurs in India expect 90 per cent growth in their business over period of five years compared to 24 per cent and 50 per cent growth in business expected by entrepreneurs in the UK and the US respectively.
In terms of technology usage to promote their business, 74 per cent Indian women entrepreneurs said that their technology need is getting more complex compared to 45 per cent in the US and 51 per cent in the UK.
Around 90 per cent of women entrepreneurs in India said they are using technology to support day-to-day operations. However, this trend was low in women entrepreneurs in the US and the UK at 80 per cent and 70 per cent respectively.
The study found that getting fund for business has been biggest challenge for business across geographies.
‘Women across geographies struggle to get fund for their business. The difference between funding issue between them and male entrepreneurs is that they have issues even in approaching for fund,’ Dell’s chief marketing officer Karen Quintos said. Women entrepreneurs in India need an average of $9,376 in start-up capital for business, compared to $8,060 required in the UK and $19,985 in the US, the study said. Women entrepreneurs in India and the US find banks or credit unions as most difficult source for obtaining funds.
Easiest source for getting funds for women entrepreneurs in the US is family members, the UK is friends and for Indian women entrepreneurs, it is angel investors.