Exciting times ahead for women entrepreneurs but more incentives are necessary
Mar 08 2013, 15:35 | By SME Mentor
by Dipika Singh, Founder, Magical Homes
Nature of business: Home styling services
Been in business since August 2012
Advice to aspiring women entrepreneurs: Take one step at a time and don't be hesitant to ask for advice from fellow entrepreneurs and your existing network.
I have been a marketing professional for more than ten years and when my last job at troubled airlines started getting the better of me, I found myself wondering why I shouldn't turn my passion into profession. Since a very long time I have been keen on redoing people's home and shuffling home accessories. I was so cued in home décor I would mentally start re-arranging stuff, when I used to step into the homes of people. That's how Magical Homes came about.
The first hurdle I faced was people questioning me as to why they should hire my services even as there were many interior designers offering home décor services.
But the truth is there are many people who cannot afford an interior designer. Many do not want to spend too much as they live in a rented space. However, both the category of people would love to do up their homes beautifully. And that's where I come in.
Today it is a tad easier for me but I still have to deal with occasional 'smirk' that people give me when I say I run a business. First time clients, if they have not been referrals also have the habit of patronizing women. Simply assuming that just because I am a woman, I do not have business acumen or cannot do the finances all by myself is not very pleasant.
Breaking these mindsets may not be easy, but change is coming about, albeit in a small manner. There are exciting announcements being made such as an all women's public sector bank that is supposed to pay more attention to the needs of a woman entrepreneur. I only hope the intent is not lost in translation! Women have natural business acumen but find it really difficult to take the early steps in setting up a venture. The need of the day is to spread awareness among women entrepreneurs and incentivize women to come forth with their business ideas.
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