What Makes Indian Women Say “Yes” to Entrepreneurship and Why Confidence Changes Everything
Proposing an Espoused model of women entrepreneurship
A few years ago, during a rather engaging seminar on entrepreneurship in emerging economies, I posed a simple question to a young woman in the audience: ‘If adequate resources and support were available, would you consider starting your own enterprise?’ She paused, not because she lacked imagination or ideas, which were evidently present, but because she did not fully believe that she could do so. That moment, although brief, lingered with me for much longer than I had expected for the hesitation revealed something far deeper than mere absence of opportunity. It spoke to confidence, to the subtle networks of support, and to what the surrounding people presume we can achieve.
The conversation nudged me to reflect on what actually shapes a woman’s intention to become an entrepreneur; and perhaps more crucially, whether increasing one’s sense of confidence; that is, entrepreneurial self-belief; shall plausibly alter the trajectory altogether. Gradually, these reflections coalesced into an inquiry into how psychological, social and educational conditions intertwine, and how self-efficacy may tip the balance in favour of entrepreneurial intentionality. The study, drawing on these strands, proposes what it terms an ‘espoused model of women entrepreneurship’ (EMWE), offering a slightly alternative lens on why some women choose to take the entrepreneurial leap whereas others, despite exhibiting potential, remain hesitant.
What Is the Espoused Model of Women Entrepreneurship (EMWE)?
The EMWE framework suggests that a woman’s entrepreneurial intention does not emerge from any singular determinant; rather, it arises from a combination of interrelated perceptions concerning:
• Perceived entrepreneurial potential – essentially, whether one believes that her ideas or abilities are worth pursuing;
• Perceived relational support – the extent to which family, peers, and the wider community create a sense of reassurance;
• Perceived educational support – whether the individual has been exposed to training, mentorship or pedagogical experiences that cultivate entrepreneurial thinking.
In short, it is not merely ‘I want to start a business’ but instead a layered internal reasoning akin to ‘I perceive that I possess potential, I sense adequate support, and I have been equipped to act.’
However, the model recognises one further, rather powerful, psychological component: Entrepreneurial Self-Efficacy (ESE) ; the belief that one can successfully launch and operate a business venture. Unlike personality traits that remain fairly stable, ESE is dynamic and shall be strengthened through appropriate interventions, making it particularly consequential for women who are already wrestling with structural constraints.
Key Findings
Basing on responses from a diverse sample of women and subjecting the data to statistical analysis, the study ascertains that:
• All three antecedent factors – entrepreneurial potential, relational support and educational support significantly influence entrepreneurial intention;
• Entrepreneurial self-efficacy serves as a moderating force, amplifying the likelihood that these antecedents translate into genuine entrepreneurial desire;
• For many women, enhancing self-efficacy through mentoring, role-model exposure and training may plausibly act as the catalyst that converts dormant intention into actual ambition.
In other words, ideas and support alone are insufficient unless one genuinely believes she is capable of acting upon them.
Why This Matters – Particularly in Contemporary India
In societies such as India, cultural expectations and structural constraints continue to shape how women view entrepreneurship, often rendering the pathway more complicated than it is for men. The extant literature repeatedly indicates that self-efficacy or its absence constitutes a major psychological barrier. When policy initiatives focus exclusively on tangible support systems (capital access, incubators, training programmes), they sometimes miss the psychological dimension that silently inhibits many capable women from stepping forward.
The EMWE model, therefore, reminds us that supporting women entrepreneurs shall not only involve opening external doors but also nurturing the inner conviction that one belongs within those spaces.
Implications for Policymakers, Educators and Mentors
Drawing on these insights, the following actions appear particularly imperative:
• Mentorship and role-model programmes shall be designed such that women can observe relatable entrepreneurial journeys;
• Entrepreneurship education ought to emphasise confidence-building in addition to business-related competencies through project-based and collaborative learning;
• Relational support networks – including peer groups and community-based initiatives – may help reduce hesitation and stigma;
• Policies must address both structural and psychological constraints simultaneously, recognising that one without the other is unlikely to yield widespread behavioural change.
Perhaps the real gap between dreaming and doing is not always the external obstacles, however real they remain, but the internal belief systems that are seldom cultivated. The more pertinent question for policymakers and educators may no longer be ‘How many resources can we provide?’ but rather ‘How many women believe they can use these resources meaningfully?’
After all, entrepreneurship does not solely require opportunity, it requires self-belief.
Want to Dive Deeper into the Research?
This blog is based on my peer-reviewed article published in the International Journal of Organizational Analysis.
You can read the full academic paper here:
https://doi.org/10.1108/JEC-01-2023-0011Disclaimer: Parts of this blog have been simplified for general readers with the assistance of AI. While certain sections have been adapted for readability, the underlying research and findings are entirely original.