IndiaLends survey reveals 76% working women want to start their own business

Team L&M

IndiaLends, an online marketplace for credit products has unveiled the 6th edition of its annual #WorkingStree report. This year’s survey, themed Women Entrepreneurship and Investments, delves into the aspirations and realities of working women in India, painting a remarkably progressive picture compared to the 5th edition of the #WorkingStree survey, which focused heavily on “financial independence.”

Over 10,000 working women aged 24-55 across metros, tier 1, and tier 2 cities were surveyed. A whopping 76 per cent of respondents expressed a desire to start their own businesses. This entrepreneurial spirit among women signifies a growing ambition and a commitment to take charge of their financial futures.

Not just this, 86 per cent of working women expressed a desire to learn and upskill themselves in areas like budgeting, investing, saving, and other financial instruments. This growing financial literacy is crucial for women to navigate the complexities of finance, both as investors and entrepreneurs.

Beyond the statistics, the #WorkingStree survey also revealed stories of women entrepreneurs taking charge. A noteworthy finding is that 68% of women entrepreneurs manage their company accounts independently, demonstrating their competence and self-reliance, and only 32% of women are dependent on their professionals/husbands/family members for this.

The survey also aimed to understand working women’s investing behaviour. It was found that 68.7 per cent of businesswomen/entrepreneurs invest their money, but only 51 per cent of salaried women invest their money. Interestingly, it was found that of the women investing their money, 79 per cent of women invest their money themselves. The remaining 21% of women get help from their partners or parents.

When asked for their reasons for not investing, 25 per cent of women are not making investment decisions themselves due to a lack of confidence, and 29 per cent cite a limited understanding of financial instruments as a barrier.

Ankit Khurana, Chief Marketing Officer of IndiaLends, expressed, “The results of the #WorkingStree survey are truly inspiring. Witnessing that 76 per cent of women aspire to start their businesses fills me with immense pride. This is proof of changing times and shows how today’s women are ready to take charge of their finances. I believe that by supporting women’s entrepreneurial journeys, we can ensure a stronger and more prosperous nation for generations to come.”