“Going digital is no longer an option, it is the default.” This quote by Natarajan Chandrasekaran, Chairman of Tata Sons is a reminder of how digitalization has impacted women-owned businesses.
Digitalization has created an environment in which there are numerous opportunities for women entrepreneurs. This is especially true for women who have home-run businesses or who are doing business as a side hustle. With the help of technology, women can launch new ventures, grow their existing businesses, and create positive social and economic impact.
Here’s how going digital can benefit women entrepreneurs:
Create visibility
Visibility is a major hurdle that women homepreneurs face, often struggling to go beyond their local networks and WhatsApp groups. By going digital (through social media or website or even with Google Listing for your business), you can build an online presence for yourself and your brand, so that people get to know about you, your venture, the products and services you offer, their features, etc. This can help you expand your customer base beyond your local networks and locality.
With increased visibility and presence, more people from different parts of your city, the country and even the world can reach out to you and become your customers.
Ease of platforms to grow and expand your business
Thanks to digitalization and continuous technology advancements, there are so many platforms now available for your business. With platforms like Shopify and Wix, you can create easy, user-friendly websites for your business. Adding payment gateways like RazorPay, GooglePay and AmazonPay, makes for seamless financial transactions for your customers no matter where they are. You can also list your products on online marketplaces such as Amazon, Flipkart, Meesho, Etsy, Paytm Mall, etc., for easy discovery by new customers.
Another instance is, if you run a bakery from home, you can assign the task of delivery to online platforms like Swiggy, BlinkIt and Dunzo. This will help you get things done properly without feeling overburdened.
Easy access to information
Digitalization has made access to any and all information so easy and convenient, which you as a woman entrepreneur can use to your advantage. If you are just starting your home-run business or even have just an idea, you can search for various things like the demand for a product or service offered by you, and marketing strategies you can adopt. Apart from market analysis, you can study your competitors online, and see what is working for them and what is not.
You might also like to read: What makes it important for women to have a side hustle
Skill enhancement
If you want to learn about business skills, online platforms like LinkedIn Learning, Coursera and Bumble Bizz provide tools and courses that can be beneficial for start-up entrepreneurs. You can also learn how to use AI tools like Jasper and Canva to create content, design graphics and help in marketing for your home-run business. You can also connect with a number of coaches, say Leadership coaches or financial coaches digitally, who can help you a lot and provide great mentorship as well.
Women entrepreneurs working at the grassroots level can benefit tremendously from the new-age digital tools and learning initiatives that have been introduced by the Government of India. For instance, the Digital Saksham Project provides training to micro, small and medium enterprises with a special emphasis on upskilling women entrepreneurs.
Cost-effective way to build a business
With remote work facilities available due to digitalization, you don’t necessarily need much infrastructure or a conventional set-up to start or run a business. This also helps you save overhead costs such as rent, utilities, travel, etc. Perhaps, you can use these savings for expanding your business, investing in stocks, or insurance or for personal growth.
This can also apply to personnel or resources you may need for your business. Instead of investing in a full-time team, if you are just starting out or have a home-run business, you can hire freelancers or agencies based on your requirements. If you need content for a short time only, you can either use AI tools like ChatGpt or hire Freelance writers (through Indeed, Upwork, etc.) for your content needs. The same can be done for Digital Marketing or if you are looking for Finance Experts to handle your business finances, etc.
Help you maintain work-life balance
One of the biggest benefits that women entrepreneurs can get by going digital is not only that it can help you start or grow your business, but it can also help you maintain a healthy work-life balance. This especially goes for those women business owners who have a home-run business and have to juggle their family responsibilities as well. Use technology and digitalization to your advantage, be it through tools, platforms, learning or anything else. This can help you prevent burnout and enhance productivity.
Digitalization is an innovation that increases growth opportunities for women entrepreneurs. With remote and hybrid work in place, we see how women’s participation in the workforce along with their contribution to the economy has significantly increased. Thus, we see how access to digital tools and platforms can help women-owned businesses prosper and grow.
Also Read: We need more women at work to uplift Indian economy, but where are they?