Role of Social and Economic Development on Women Empowerment

Factors Influencing Women Empowerment in Self-Managed and Family Managed Businesses

Abstract

The aim of this paper is to the developing economies like India, women are considered asvulnerable section of the community especially in rural context. Vulnerable is a process where a group ofindividuals are put down to a lower edge in society which pushes them to become socially,economically, culturally and politically excluded. It denies these people to access equal opportunitiesand resources to realize their full potential. This pushes these people into poverty, discrimination anddistress. As a result, a major portion of the community has turn out be illiterate and dependent. Ruralwomen are inhibited by social, economic and cultural factors due to which they are destitute by accessto education, wealth, health services, and control over assets, gender inequality, and lack of mobility.Previous studies acknowledge the role of microfinance as a significant instrument to mitigate povertyand enhance socio- economic development of women. Previous studies conclude that women’sinvolvement in microfinance helps to encourage gender equality. As per various studies in recent years,examined the impact of microcredit on welfare of household such as increased children education,freedom of mobility, enhanced social relationship, increased nutritious food, better clothing, bettersanitation facilities, creation of assets, income and savings. the effect of microfinance on empowermentof women but no efforts were taken to determine the factors influencing female empowerment in terms ofeconomic and social development in case of women borrowers who invested the loan amount in theirown established business new business and who divert the loan proceeds to meet the requirement oftheir husband son’s business. Therefore, the present study is centered on evaluating womenempowerment in case of self-managed business and family managed business especially in context ofUttar Pradesh region.