Impact of networking on collection of information and resources by early stage female entrepreneurs

Abstract

During the earlier days, Women in India are restricted to their household works and were not allowed to work because of the customs and traditions. But due to the widespread of education and social awareness during last thirty years more women are empowered to exercise their knowledge and be financially self-sufficient. Indian women are willing to accept challenges & assume responsibilities to build a better future. According to a survey, Lack of job opportunities, Increased cost of living, Mark opportunities, Business background families are the major reasons for women starting on their own. Currently there are about 80 lakh women who have started or running their own business in India. A strong and diverse professional network is a critical success parameter for entrepreneurs. Valuable business network helps entrepreneurs attain goals by developing knowledge, getting new clients, forming eminent partnerships and getting inspired by success of others. Ample examples and study have proven that entrepreneurs with good network succeed faster than people with bad network. In many scenarios, competitive advantage is about getting access to private information and scarce resources earlier than competitors. This study aims to understand the meaning of network in purview of early stage women entrepreneurs. It derives a difference between a good and bad network using various instruments and previous literature references. The research sheds light on the networks of various entrepreneurs. A standard questionnaire is used to identify the important parameters they consider in choosing their network. It also evaluates, qualitatively and quantitatively, the influence of networks in the success of these entrepreneurs.