Current Financial Challenges Faced by Women Entrepreneurs in Pakistan

Aim and Objectives

Aim

“To critically investigate on the financing challenges faced by women entrepreneurs in Pakistan.”

Research Objectives

• To understand the current and future trends of women entrepreneurs in Pakistan.
• To determine the various financial challenges which influence women entrepreneurs in Pakistan.
• To determine the problems through which women go due to financial challenges faced by them.
• To provide effective recommendation to overcome financing challenges faced by women entrepreneurs in Pakistan.

Research Questions

• What do you understand by the currentand future trends of women entrepreneurs in Pakistan?
• What are the various financial challenges which influence women entrepreneurs in Pakistan?
• What are the problems through which women go due to financial challenges faced by them?
• What are effective recommendation to overcome financing challenges faced by women entrepreneurs in Pakistan?

Rationale

The researcher of the study has carried out the particular research study because of the academic interest of the researcher. The researcher has carried out the study because financing challenges faced by women entrepreneurs in Pakistan is considered to be the current issue. It helps in gaining broader knowledge associated with the particular area of study. The researcher of the study will highlight on this topic with the help of thematic analysis.

LITERATURE REVIEW

To understand the current and future trends of women entrepreneurs in Pakistan.

Saini and Jain, (2018) sought to determine the fact that, There seems to be expeditious development of women entrepreneurship in Pakistan. This in turn results in changes in relation with socio and economic environment. These changes are mainly associated with the inflation, employment levels, technology, global and media exposure, gender discrimination, unequal pay gap and financial incapabilities, etc. are considered to be one of the major issue which in turn largely affects the operations of the business. Entrepreneurship is referred to as an effective business setting where the individual tend to open their own business. They tend to risk their money in order to start a particular business venture. Women entrepreneurs are one of the important source which helps in solving business problems. The rate of opening new business venture is significant in USA which is very crucial for the growth and GDP of the economy. This is one of the way out for unemployment and helps in reducing gender pay gap. This helps in contributing to the economy and also creates higher job opportunities which leads to economic development. In US, economy was influenced by $3 trillion, due to women owned business which in turn tends to create 23 million jobs.

There seems to be an increasing trend among women entrepreneur is Pakistan because of the raising awareness. This has led to higher women confidence which in turn encourage women to become career oriented. Ul-Hameed, Mohammad, and Shahar, (2018) evaluated that, Pakistan tend to have the lowest rate of women entrepreneur which mainly comprises of only 1% of female entrepreneurs when compared with 21% of male entrepreneurs. It has been evaluated that, there are several factors which in turn largely affects the women entrepreneurs are not enough access to economic opportunities, unemployment, gender discrimination, etc. Networking opportunity and financing opportunity helps women entrepreneur to perform better in market.

To determine the various financial challenges which influence women entrepreneurs in Pakistan.

Muhammad, Warren and Binte-Saleem, (2017) investigated that, access to finance is considered to be one of the major challenge for the women entrepreneurs in Pakistan. Bank account tends to remain at lower levels among women which in turn largely influences the operations of the business. Only 13% women has access to finance as compared to 87% men. This in turn largely reflects the gender biasses system in Pakistan. The size of loan which is detached to men is comparatively much higher when compared to women. Men workers tend to earn higher when compared with the women which in turn largely influences women entrepreneurs in Pakistan. The financial challenge faced by the women entrepreneur is mainly associated with the lack of personal capital which in turn is considered to be one of the major source in order to carry out the operations of the business in a systematic and efficient manner. Education bureaucracy and lack of training and education is considered to be as the major challenge which in turn affects the operations of the business. Karachi in Pakistan has one of the lowest degree of women entrepreneurs in the world. Access to the job, economic opportunities and terming job creation are considered to be the major challenge associated with Pakistan. Raghuvanshi, Agrawal and Ghosh, (2017) argued that, discrimination based on gender is considered to be the major financial challenge because women entrepreneurs in Pakistan are not given enough access to the funds. Fear of being in debt is also one of the major financial challenge which is faced by the women entrepreneurs in Pakistan. Lack of networking and poor credit history in turn are considered to be one of the major financial challenge which in turn largely influences the women entrepreneurs in

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