Impact of Schemes on Economic Status of Women Entrepreneur

The position women everywhere hasexperienced vast changes recently. The elimination of gender discrimination has lead new avenues for women. Women now dominate the positions which were well though out manly, surpassing them in some regions.The gender labels which were more widespread in the society spans ago are breaking slowly. But there is still a long way to go. This article deals with the economic status of women entrepreneur as a result ofavailment of entrepreneurial schemes offered by state, central government is analysed


Introduction
The Government of India has defined Women Entrepreneurs as -an enterprise owned and controlled by women having a minimum financial interest of 51 per cent of the capital and giving at least 51 per cent of the employment generated in the enterprise to women. 1 Women constitute around half the total (48 per cent) Indian population but their participation in the economic activities is only 25 per cent. According to Forbes India, women comprise about 30 per cent of senior corporate management positions in India, which is notably higher than the global average (24 per cent). But when it comes to the gender gap in overall workforce, India is one of the worst countries in the world -113th out of 135. India ranks 29th of 31 countries in the 2015 2 Global Women Entrepreneurs Leader report by ACG Inc.This disparity directly affects country's of economic growth. Women bring a different set of perspectives to problem solving that can enhance the quality of the solution. Women bring a unique set of issues and experiences that can help in decision making enhancing the quality of the decision.

Statement of the Problem
The arrival of more women in the workforce led to significant economic growth and productivity. The greater the number of women looking for work, the lower their participation as entrepreneurs. Very Few women have become entrepreneursand contribute to innovation, job creation and economic growth. They have ainimitablepredisposition to create and maintain long-term relationships. They have excellent communication, organizational and networking skills than their male colleagues. Their traditionalist approach on money approach lessens the chances of failure of their organizations. If women are provided appropriate support economically, mentally, and physically, they can start new businesses that cater to a completely different market or importance than their male equals.

Review of Literature
Tambunan's (2009) 3 , study on recent developments of women entrepreneurs in Asian developing countries emphasesthat mostly women entrepreneurs in small and medium enterprises and tells that count of women entrepreneurs in this region is relatively low caused by factors like low level of education, lack of capital and cultural or religious constraints. Cohoon, Wadhwa and Mitchell (2010) 4 , identifies top five financial and psychological factors motivating women to become entrepreneurs and are desire to build wealth, the wish to capitalize own business ideas they had, the appeal of startup culture, a long standing desire to have a company of their own and not working forsomeone. This study emphasizes the need for further investigation into the greater interest of women in protecting intellectual capital than their peers Warangkana.T (2015) 5 , finds that the reason for the women entrepreneurs to start their business is purely due to pull factors, such as need for independence, want to be one's own boss, need for autonomy, and urge for self achievement.
Ilhaamie and Siti (2016) 6 , reveal that majority of Indonesian Muslim women step into micro entrepreneurship to support their soul mate and thus obtaining the latter's approval in so doing. Other factors that motivate them include strategic location, good market demand and advice, own and workers, skills, good products, good customer relation, prior training, available raw material and supportive government policies.
Monika (2016) 7 , examines the scope of women entrepreneurship in India and outlines Government initiatives towards women entrepreneurs which include Trade Related Entrepreneurship assistance and Development, RashtriyaMahilanKosh, Support to Training and Employment Programme for Women (STEP), Schemes like Mahila Vikas Nidhi ( MVN) and MahilaUdyam Nidhi,

Objectives of the Study
• To present the profile of sample respondents and • To analyse the impact of entrepreneurial schemes on the economic status of sample respondents

Scope of the Study
The present study aims to analyze the development of women entrepreneurs in the light of various schemes.

Methodology
This study depends on survey method and is based on descriptive analysis. The survey is conducted among the women entrepreneurs who registered their concerns under District Industrial Centre. Interview schedule is used to collect the opinion from women entrepreneurs' on their awareness level and the usage of various schemes available for them to promote entrepreneurship. The study uses both primary and secondary data. The primary data have been collected through interview schedule.

Sampling Techniques
A simple disproportionate random sampling procedure was used for selecting the participants in this study. This technique ensures a fairly equal representation of the variables for the study. Within each section, selection of women entrepreneur was made by simple disproportionate stratified random sampling technique was employed to select 400 women entrepreneurs in the District. The disproportionate sampling was based on the total number of women entrepreneurs in registered.

Test Adequacy of Sample
The Kaiser-Meyer-Olkin is the measure of sampling adequacy, which varies between 0 and 1. The values closer to 1 are better and the value of 0.6 is the suggested minimum. The Bartlett's Test of Sphericity is the test for null hypothesis that the correlation matrix has an identity matrix. Taking this into consideration, these tests provide the minimum standard to proceed for Factor Analysis. .000 Normally, 0 < KMO < 1 If KMO > 0.5, the sample is adequate.
Here, KMO = 0.751 which indicates that the sample is adequate.

Bartlett's Test of Sphericity
Taking a 95 % level of Significance, a = 0.05 The p-value (Sig.) of .000 < 0.05. The Kaiser-Meyer Olkin (KMO) and Bartlett's Test measure of sampling adequacy was used to examine the appropriateness of Factor Analysis. The approximate of Chi-square is 7261.913 with 300 degrees of freedom, which is significant at 0.05 Level of significance. The KMO statistic of 0.751 is also large (greater than 0.05). Hence Factor Analysis is considered as an appropriate technique for further analysis of the data.

Analysis on the Objective
The profile of the sample respondents are presented in Table 2

Total 400 100
Response Regarding General Services Services that are applicable to the entire firm and are not confined to any department or function. Such as payroll, personnel, insurance and security.

Figure 1: Percentage of Response Regarding General Services
It concludes that majority of the respondents are Modernization development mode followed in the study area.  Table 4 reveals the difference in mean state, central banking scheme and women entrepreneurs' opinion between women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. Since p value is less than 0.05 for State level scheme hence there is significant difference in mean state level scheme between women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. In State level scheme, women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme with 10,000 to 20,000 has higher mean 2.85 while, less than 10,000 has low mean 2.65.
Since p-value is less than 0.01 for central level scheme, hence there is significant difference in mean central level scheme between different women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. In central level scheme, women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme with more than 50,000 has higher mean 3.57 while, less than 10,000 has low mean 2.54.
Since p-value is less than 0.05 for banking scheme, hence there is significant difference in mean banking scheme between women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. In Banking Scheme women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme with less than 10,000 has high mean 3.02 while 40,000 to50,000 has low mean 2.81.
Since p-value is less than 0.01 for women entrepreneurs' opinion about support agencies, hence there is significant difference in mean women entrepreneurs' opinion about support agencies between women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. In women entrepreneurs opinion about support agencies, women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme with more than 50,000 has high mean 3.04 while, 10,000 to 20,000 has low mean 2.82.  Table 5 reveals the difference in mean state, central banking scheme and women entrepreneurs' opinion between women entrepreneurs' opinion between different economic statuses before availing entrepreneurial scheme. Since p value is less than 0.01 for State level scheme hence there is significant difference in mean state level scheme between women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme. In State level scheme, women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme with 10,000 to 20,000has higher mean 2.90 while, 30,000 to 40,000has low mean 2.53.
Since p-value is less than 0.01 for central level scheme, hence there is significant difference in mean central level scheme between different women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme. In central level scheme, women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme with more than 50,000 has higher mean 2.90 while, 10,000 to 20,000 has low mean 2.30.
Since p-value is less than 0.01 for banking scheme, hence there is significant difference in mean banking scheme between women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme. In Banking Scheme women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme with 10,000 to 20,000 has high mean 3.02 while 30,000 to 40,000 has low mean 2.81.
Since p-value is less than 0.01 for women entrepreneurs' opinion about support agencies, hence there is significant difference in mean women entrepreneurs' opinion about support agencies between women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme. In women entrepreneurs opinion about support agencies, women entrepreneurs' opinion between different economic statuses after availing entrepreneurial scheme with more than 50,000 has high mean 2.97 while, 40,000 to 50,000 has low mean 2.85.

Suggestions
The following suggestions are offered for the development of women entrepreneurs • To reduce rate of interest to Women Entrepreneurs. • Bank and other financial institutions and other financial services may liberalize formalities in providing loan to women entrepreneurs to save time. • The government may train women entrepreneurs and arrange frequent training programmes on new production technique, sales techniques. The training may be made compulsory for women entrepreneurs. • Adequate guidance and access to information

Conclusion
There are various schemes available for the growth and development of womenentrepreneurs in India. Most of the women getting state level schemes like MahalirThittam, apart from central scheme and banking institution schemes. But they faceproblems in getting loan or other financial aspects from different institutions. It isobserved that the high interest rate is the major problem faced by women entrepreneurs.The respondents are well aware of various schemes but it is essential to make them awareof the schemes which are suitable to them.