Significance of Female Entrepreneurship

Running head: MANAGEMENT
International Relations
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Executive Summary:
The aim of the report is to provide an insight into the aspect of female entrepreneurship. The
report begins with a discussion of the concept of entrepreneurship and the significance towards
the economy. The report also discusses the importance of female entrepreneurship. There is also
discussion regarding the challenges faced by the women entrepreneur. Further, the report also
reflects on entrepreneurial competencies and skills and how they might be further developed.

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Table of Contents
1. Introduction:................................................................................................................................3
2. Definition of Entrepreneurship and Significance to Economy....................................................3
3. Significance of the Female Entrepreneurs...................................................................................6
4. Evaluation of the Challenges of Female Entrepreneurship.........................................................7
5. Reflection on the Entrepreneurial skills and Competencies and how to develop it Further........8
7. Conclusion:..................................................................................................................................9

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1. Introduction:
The report aims at providing an insight into female entrepreneurship. An entrepreneur
represents an individual who instead of working as employee finds and runs a small business
assuming all the rewards and risk associated with a venture. An entrepreneur is commonly seen
as innovator who is also source of new goods, ideas, services, procedures and business. Women
Entrepreneur represents a person who accepts the challenging role in meeting the personal needs
and become financially independent. In present times, increasing number of woman are
becoming leaders in their own business with many struggling in achieving success. Female
entrepreneurship however acts as an important tool in enabling the women empowerment. The
development of the women as entrepreneur will put forward socio economic benefits for country.
The report commences with an introduction of entrepreneurship and its significance towards the
economy. The report highlights the significance of the female entrepreneurship and the
challenges it faces in the process. The report also provides a reflection on the entrepreneurial
skills and competencies and how it might be developed.
2. Definition of Entrepreneurship and Significance to Economy
Entrepreneurship refers to the process of launching, designing and running of a newer
business that was initially smaller business (Kuratko 2016). The people responsible for creating
the business are known as the entrepreneurs. In other words, entrepreneurship is described as the
willingness and the capacity to organize, develop and manage the business venture including the
risk for making a profit. However, in the field of economics, Entrepreneurship captures the
innovative activities on part of the established firms and similar activities for the new business
(Nielsen et al. 2016).