7 key trends in 2017 for women entrepreneurs

7 Key Trends In 2017 For Women Entrepreneurs

Hello Folks! We are into our 3rd Part of Women’s Week Series and today we discuss the Key Trends to be seen among Women Entrepreneurs. The article is going to be extremely useful for all the Women Entrepreneurs, Startup & Technology players and aspiring Women Businesswomen.

Here are the 7 trends that are converging to produce a more favorable business environment for women entrepreneurs in 2017.

1. Better Support Networks

Last year, support networks for women business owners blossomed, with many established organizations retooling their programs to provide more targeted support to women at critical phases of business development.

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Support network calls for Businesswomen’s associations to be created which would provide development opportunities for female entrepreneurs, helping them to scale their businesses more effectively and achieve their true potential. So, one could see an increase in more such associations.

Also, Government initiatives such as National Skill Development Corp (NSDC) will support a new digital platform providing women entrepreneurs with better access to relevant role models, support groups, business mentors and a wider network of assistance.

2. More Role Models

It’s been a long time coming, but women are increasingly stepping into their power. The breadth of role models available today is having a positive impact in terms of producing greater acceptance of the varied work styles among women who are considered to be successful leaders.

Broadcast Journalist Abha Bakaya quoted, “It’s been a year (2016) of women making it to the top whether by default or by strength and let’s hope many more opportunities for them to come.”

Also, there are a lot more women who have already started their businesses and are now in growth mode. A new segment of women are now applying their corporate skills to starting their own business ventures. The good thing is Millenials are not far behind while launching their own businesses at a brisk pace.

3. Businesses Are Becoming Less Hierarchical

There is a long way to go, but the overall trend is there. Businesses in general are becoming less siloed and increasingly structured along flatter hierarchies, producing a more favorable work atmosphere for women. As a result, women


are increasingly in a better position to make a more personalized work plan and take control of their work/life integration.

4. Advancements In Technology

This is the game changer for entrepreneurs. Advancements in technology have lowered the cost of entry to starting your own business. It is now possible to create a business that exists entirely online. Because of technology, you don’t need as big of an office to start. You also don’t need to hire employees right away because of the relative ease of working with consultants and outsourcing solutions. Social media platforms have opened a new dimension to marketing and customer engagement, offering more impact with less financial outlay.

New technology makes planning and forecasting much easier, enabling better decision making and more realistic goal setting. Technology is making it possible to work longer and harder, with more personal flexibility. Aspiring Women entrepreneurs must keep their eyes open for how new technologies can help advance their businesses.

App-based services such as JetSteals and BookMyCharters let you book a chartered flight within 60 seconds. “It’s like booking a cab. You can put in your preferred departure and arrival locations, time, the number of co-travellers, and book an aircraft. We arrange the rest,” said Kanika Tekriwal, co-founder and CEO, JetSetGo, the online charted flight portal that launched JetSteals last month.

5. Influencer Marketing

A major portion of revenue in any business is spent behind marketing and influencer marketing has emerged as a great way to market. Influencer marketing grew exponentially in 2016 and this trend is expected to continue in 2017. The influencer marketing space has grown into a multibillion-dollar industry as per eMarketer and 90% of the marketers will run an influencer


marketing campaign in the next 12 months as per a recent poll of 263 marketers in India by Blogmint.

“Influencers can create sponsored content on behalf of the company and this content being posted on the influencer’s website or blog may get you to be seen and heard by standing out in the clutter,” said Influencer Marketing Guru Mangal Karnad.

6. Web presence

The availability of Internet-based technology gives small businesses more control over brand development, marketing and customer engagement. While tech start-ups traditionally benefit most from these services, Internet tools provide affordable and attainable solutions for small businesses in every industry. 2017 would see a mammoth increase in Web based business amongst Women Entrepreneurs. It decreases cost and increases productivity.

7. Easier Tax Norm

2017-Budget carries the long pending implementation of GST and a centralized tax system is on tenterhooks.

Sonu Iyer, Partner and leader, India Region Ernst & Young said, “Since the implementation of GST will be on table for 2017-Budget, government will come up with the new rationalized tax structure. Women entrepreneurs can be a part of consideration in corporate taxes and loans.”

Conclusion

With so many changes coming to the ever-changing entrepreneurial world, standing apart from other small businesses can be both exciting and challenging. Along with the above trends, ease of doing business with easier access credit is on the table for Women Entrepreneurs.


Behind every success story you will find someone who has made a courageous decision. To meet such people and know more about The Latest Trends in Women Entrepreneurs Space, hear them live at eTailing India Expo Mumbai 2017.


7 key trends in 2017 for women entrepreneurs

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