Good scope for women entrepreneurs Special Correspondent NAGAPATTINAM: There is a good scope for women to become successful entrepreneurs in the Cauvery delta region of Nagapattinam district and educated women should avail of the opportunity to become entrepreneurs under the newly launched Prime Ministers Employment Guarantee Programme (PMEGP), said M. Jayaraman, Collector, on Tuesday. Addressing the entrepreneur development programme for women from the minority community, including Muslims and Christians, organised by the Indian Overseas Bankunder the aegis of ShakthiIOB Chidambaram Chettiar Memorial Trust, the Collector said Rural Business Hub (RBH) programme was being implemented in the industrially backward district by the Union Ministry of Panchayati Raj. Bank loans assured He assured that the participants selected under the EDP would be provided bank loans with subsidy for starting their ventures. Mr R.Muthusamy, Chief Regional Manager, Indian Overseas Bank, said that 34 entrepreneur development programmes were conducted by the IOB in the country in the last eight years benefiting 1,239 women including 35 in Nagapattinam. Mr K.S.Kandasamy, District Revenue Officer (Tsunami), Nagapattinam, who distributed certificates, called upon the women to take up the challenge of becoming entrepreneurs. Role of rural women Prof. N. Manimekalai of Bharathidasan University said that her research findings revealed that 90 per cent of rural women were involved in income-generating activities.

WOMEN IN INDIA:

The Indian sociological set up has been traditionally a male

dominatedone. Women are considered as weaker sex and always to depend on men folk in their family and outside, throughout their life. They are left with lesser commitments and kept as a dormant force for a quite long time. The Indian culture made them only subordinates and executors of the decisions made by other male members,in the basic family structure.

The traditional set up is changing in the modern era. The transformation of social fabric of the Indian society, in terms of increased educational status of women and varied aspirations for better living, necessitated a change in the life style of Indian women. Indian families do have the privilege of being envied by the westerners, since women here are taking more responsibilities in bringing up children and maintaining a better home with love and affection. At the family level, the task of coordinating various activities in a much effective manner, without feeling the pinch of inconveniences, is being carried out by the women folk.

Thus, the Indian women have basic characters in themselves in the present sociological and cultural setup as follows.

Indian women are considered as Sakthi, which means source of power. Effectively coordinating the available factors and resources. Efficient execution of decisions imposed on them Clear vision and ambition on the improvement of family and children. Patience and bearing the sufferings on behalf of others and Ability to work physically more at any age.

NEED OF THE HOUR:

Women sector occupies nearly 45% of the Indian population.

The literary and educational status of women improved considerably during the past

few decades. More and more higher educational and research institutions are imparting

knowledge and specialisation. At this juncture, effective steps are needed to provide

entrepreneurial awareness, orientation and skill development programmes to women.

The institutions available at present are very limited. Moreover, their functions and

opportunities available with them are not popularised much.

QUALITIES REQUIRED FOR AN ENTREPRENEUR: An effective entrepreneur requires certain

basic qualities, which can be listed as follows. Innovative thinking and farsightedness. Quick and effective decision making skill. Ability to mobilise and marshal resources. Strong determination and self confidence. Preparedness to take risks. Accepting changes in right time. Access and alertness to latest scientific and technological information.

Matching the basic qualities required for entrepreneurs and the basic characters of Indian women, reveal that, much potential is available among the Indian women on their entrepreneurial ability. This potential is to be recognized, brought out and exposed for utilisation in productive and service sectors for the development of the nation.

ACTION PLAN :

Proper planning and execution are required at all levels. Proper

training in right direction is to be planned meticulously.

The steps to be taken can be listed as follows:

-- identifying women with different literary levels in proper groups and to create

awareness about entrepreneurship and its importance as job providing avenues

rather than job seeking ventures.

-- skills to be provided to selected women group are to be identified.

-- making them to realise the income generation and social status and recognition

-- giving orientation and skill training on selected trades on their choice and suitability.

-- assisting them in preparation of project reports for their own proposed units and helping them to follow up the venture to start the new enterprise.

-- providing consultancy and guidance, continuously.

A training capsule of around 15 days may be provided by expert institutions, voluntary agencies and Govt.departments.The financial resources are to be mobilised to provide this type of programmes, by the government organizations like banks, public sector organizations and voluntary agencies..

The higher education institutions, which are spreading throughout the country, may conduct programmes like this,regularly,in addition to their academic programmes,with or without govt.aid.Young graduates of that area and the final year students of U.G/P.G courses may also be provided with such training.Normally,infrastructures are available with such institutions. Getting expertise and mobilizing other requirements will also be easier for such institutions, since they are already having good establishment facilities.

Voluntary agencies like Rotary clubs, Lions clubs, and etc.Govt. sponsored institutions like UGC, Science and technology Councils may interact with the colleges/universities, through financial assistance, to carry out the programmes.

With proper financial assistance and effectively using them, each college/university may train 300 to 1000 youths, in the area of entrepreneurship development. When women are going to be the target groups, the benefit will reach a larger section of the society.

Thus ED culture is to be developed gradually among the women, in addition to providing educational facilities to use the vibrant women force in right direction. Thus programmes combining, technical skill and entrepreneurship skill, to selected groups, will make the Indian women more self reliant and confident and would lead them to be envied by people at the international level.

TRAINING COMPONENTS : Even though there are very efficient institutions at the national level,likeEDIAhmadabad,NSTED BOARD,NewDelhi,NISIE,Hyderabad and at State level,CED in Madurai and Chennai,TANSTIA in Chennai,such programmes are to be conducted at regional level, at the residential area of the women, in their vernacular language and to the specific requirement of the people of that area.

The essential components of such training may be listed as follows.

Awareness, career building and attitudinal change towards enterprise formation. Effective training on building up self-confidence and communication skills. Skill training on specific trades suitable to their option. Training on quick and effective decision making techniques and managerial skills. Training on marketing strategies. Training on effective financial management.

Training on project formulation and implementation. Scope for increasing access to new technologies and scientific knowledge. Information on persons/offices to be contacted. Interaction with successful entrepreneurs for sharing their experiences

Training in such areas are not going to have much financial burden to the govt., when compared to other developmental projects. This type of programmes can be conducted in all the parts of the country. A consistent and continuous effort in this project will add more dimensions Indian women and their empowerment. and to the economic development of the nation as a whole.

6

APPENDEX-1

Suggested list of appropriate areas suitable to Indian women entrepreneurs: - Food products manufacturing -Food processing and preservation. -Catering services and fast food centres. -Interior decoration. -DTP and Book binding. -Maintenance of Dairy, Poultry and their products. -Maintenance of house-hold appliances. - Stationeries retailing. - Manufacturing of note books and pads.

- Packing & packaging -Diagnostic lab & pathology clinics. - Communication centers with telecom, fax, browsing, and Xeroxing facilities. -Readymade garments, embroidering and fashion designing. -Retail selling through different methods. -Art and painting works on commercial decorations. -Hiring of warehouses and godowns. -Floral decorations. -Jewellary -Beauty centers -Running old-age homes And so on. The list is only suggestive and not conclusive.

7 STEPS FOR STARTING SMALL-SCALE INDUSTRIES. Steps to be taken

APPENDIX-2

Agency to be contacted

1. Product selection and preparation of Centres/Small

District Industries

Project report.

Industries service Institutes/Technical consultancy agencies,like,CECRI, at Karaikudi, for specialised products.

2. Obtaining provisional or permanent

District Industries centre/Department

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registration

of Industries and commerce.

3. For obtaining developed plots for construction of a factory for obtaining sheds in Industrial Estates on ownership/rental basis

District Industries centers.

4. If agricultural land is to be used for industrial purpose

Small Scale Industries Development Corporation and permission from

Thasildar, to conclude lease deed.

5. Obtaining licenses for the plan,etc.

Respective Corporation/Municipality/ Punchait, where the unit is to be set up

6. No objection certificate from pollution Boards. Control board

Respective State pollution control

7. Registration under the Factories Act

Chief Inspector of factories and Boilers.

8. Finance op.banks. State finance Corporations-for term loans

Commercial banks/Industrial co.

9. Registration for sales tax

State Commercial Tax Office

10. Water supply

Water supply and sewage Board.

11. Power connection

State Electricity Board

12. Processing controlled raw material

Joint Director(SSI)

8

13. For imported raw materials/machinery components

The Joint Chief Controller of imports and and exports

14. Obtaining machinery on hire purchase

National Small Industries corporation (NSIC)-Regional offices.

15. Foreign collaboration

The Foreign Investment Promotion Board, Ministry of Industrial Development, Govt. of India.

16. ISI Certificate

Bureau of Indian Standards Institution, New Delhi.

17. Patent Right

The Controller of Patent and Designs.

18. Registration of Trade Marks

Registrar of Trade Marks.

19. Marketing Assistance

a) Internal Marketing Industries

Respective State Small

Marketing corporations . b) Export Marketing Export Promotion Council/Cells; Trade Development Authority; State Trading corporation; Export credit

Guarantee Corporation and Export Inspection Agency.

20. Testing, Training and other extension facilities

Small Industries Service Institutes and Regional Testing Laboratories.

21. Product development Assistance

Project and product development centers

References :

.1. Lalitha Iyer : Women entrepreneurs-Challenges And Strategies Frederic exert sifting (FES), New Delhi.1991.

2 .M.Soundarapandian: Women EntrepreneurshipIssues and Strategies. Edited volume. Kanishka Publishers, New Delhi.1999.

3. S.S.Khanka :

Entrepreneurial Development S.Chand & Co. New Delhi.1999.

4. Phamphlets from Small Industries Service Institute, Chennai. 2004.

5. Phamphlets from CANARA BANK-Circle office, Madurai 2004.

WOMEN IN INDIA:

The Indian sociological set up has been traditionally a male dominated

one. Women are considered as weaker sex and always to depend on men folk in their family and

outside, throughout their life. They are left with lesser commitments and kept as a dormant force

for a quite long time. The Indian culture made them only subordinates and executors of the

decisions made by other male members,in the basic family structure.

The traditional set up is changing in the modern era. The

transformation of social fabric of the Indian society, in terms of increased educational

status of women and varied aspirations for better living, necessitated a change in the life style

of Indian women.

Indian families do have the privilege of being envied by the

westerners, since women here are taking more responsibilities in bringing up children

and maintaining a better home with love and affection. At the family level, the task of

coordinating various activities in a much effective manner, without feeling the pinch of

inconveniences, is being carried out by the women folk.

Thus, the Indian women have basic characters in themselves in the present sociological and cultural setup as follows.

Indian women are considered as Sakthi, which means source of power. Effectively coordinating the available factors and resources. Efficient execution of decisions imposed on them Clear vision and ambition on the improvement of family and children. Patience and bearing the sufferings on behalf of others and Ability to work physically more at any age.

2

NEED OF THE HOUR:

Women sector occupies nearly 45% of the Indian population.

The literary and educational status of women improved considerably during the past

few decades. More and more higher educational and research institutions are imparting

knowledge and specialisation. At this juncture, effective steps are needed to provide

entrepreneurial awareness, orientation and skill development programmes to women.

The institutions available at present are very limited. Moreover, their functions and

opportunities available with them are not popularised much.

QUALITIES REQUIRED FOR AN ENTREPRENEUR: An effective entrepreneur requires certain

basic qualities, which can be listed as follows. Innovative thinking and farsightedness. Quick and effective decision making skill. Ability to mobilise and marshal resources. Strong determination and self confidence. Preparedness to take risks. Accepting changes in right time. Access and alertness to latest scientific and technological information.

Matching the basic qualities required for entrepreneurs and the basic

characters of Indian women, reveal that, much potential is available among the Indian women

on their entrepreneurial ability. This potential is to be recognized, brought out

and exposed for utilisation in productive and service sectors for the development of the nation.

3

ACTION PLAN :

Proper planning and execution are required at all levels. Proper

training in right direction is to be planned meticulously.

The steps to be taken can be listed as follows:

--identifying women with different literary levels in proper groups and to create

awareness about entrepreneurship and its importance as job providing avenues

rather than job seeking ventures.

-- skills to be provided to selected women group are to be identified.

-- making them to realise the income generation and social status and recognition

-- giving orientation and skill training on selected trades on their choice and suitability

-- assisting them in preparation of project reports for their own proposed units

and helping them to follow up the venture to start the new enterprise.

-- providing consultancy and guidance, continuously.

A training capsule of around 15 days may be provided by expert institutions, voluntary

agencies and Govt.departments.The financial resources are to be mobilised to provide this type

of programmes, by the government organizations like banks, public sector organizations and

voluntary agencies..

4

The higher education institutions, which are spreading throughout the country, may

conduct programmes like this,regularly,in addition to their academic programmes,with or

without govt.aid.Young graduates of that area and the final year students of U.G/P.G courses

may also be provided with such training.Normally,infrastructures are available with such

institutions. Getting expertise and mobilizing other requirements will also be easier for

such institutions, since they are already having good establishment facilities.

Voluntary agencies like Rotary clubs, Lions clubs, and etc.Govt. sponsored institutions like

UGC, Science and technology Councils may interact with the colleges/universities, through

financial assistance, to carry out the programmes.

With proper financial assistance and effectively using them, each college/university may train 300 to 1000 youths, in the area of entrepreneurship development. When women are going to be the target groups, the benefit will reach a larger section of the society.

Thus ED culture is to be developed gradually among the women, in addition to providing educational facilities to use the vibrant women force in right direction. Thus programmes combining, technical skill and entrepreneurship skill, to selected groups, will make the Indian women more self reliant and confident and would lead them to be envied by people at the international level.

TRAINING COMPONENTS : Even though there are very efficient institutions at the national level,likeEDIAhmadabad,NSTED BOARD,NewDelhi,NISIE,Hyderabad and at State level,CED in Madurai and Chennai,TANSTIA in Chennai,such programmes are to be conducted at regional level, at the residential area of the women, in their vernacular language and to the specific requirement of the people of that area.

5

The essential components of such training may be listed as follows.

Awareness, career building and attitudinal change towards enterprise formation. Effective training on building up self-confidence and communication skills. Skill training on specific trades suitable to their option.

Training on quick and effective decision making techniques and managerial skills. Training on marketing strategies. Training on effective financial management. Training on project formulation and implementation. Scope for increasing access to new technologies and scientific knowledge. Information on persons/offices to be contacted. Interaction with successful entrepreneurs for sharing their experiences

Training in such areas are not going to have much financial burden to the govt., when compared to other developmental projects. This type of programmes can be conducted in all the parts of the country. A consistent and continuous effort in this project will add more dimensions Indian women and their empowerment. and to the economic development of the nation as a whole.

6

APPENDEX-1

Suggested list of appropriate areas suitable to Indian women entrepreneurs: - Food products manufacturing -Food processing and preservation. -Catering services and fast food centres. -Interior decoration. -DTP and Book binding. -Maintenance of Dairy, Poultry and their products.

-Maintenance of house-hold appliances. - Stationeries retailing. - Manufacturing of note books and pads. - Packing & packaging -Diagnostic lab & pathology clinics. - Communication centers with telecom, fax, browsing, and Xeroxing facilities. -Readymade garments, embroidering and fashion designing. -Retail selling through different methods. -Art and painting works on commercial decorations. -Hiring of warehouses and godowns. -Floral decorations. -Jewellary -Beauty centers -Running old-age homes And so on. The list is only suggestive and not conclusive.

7 STEPS FOR STARTING SMALL-SCALE INDUSTRIES. Steps to be taken

APPENDIX-2

Agency to be contacted

1. Product selection and preparation of Centres/Small

District Industries

Project report.

Industries service Institutes/Technical consultancy agencies,like,CECRI,

at Karaikudi, for specialised products.

2. Obtaining provisional or permanent registration

District Industries centre/Department of Industries and commerce.

3. For obtaining developed plots for construction of a factory for obtaining sheds in Industrial Estates on ownership/rental basis

District Industries centers.

4. If agricultural land is to be used for industrial purpose

Small Scale Industries Development Corporation and permission from

Thasildar, to conclude lease deed.

5. Obtaining licenses for the plan,etc.

Respective Corporation/Municipality/ Punchait, where the unit is to be set up

6. No objection certificate from pollution Boards. Control board

Respective State pollution control

7. Registration under the Factories Act

Chief Inspector of factories and Boilers.

8. Finance op.banks. State finance Corporations-for term loans

Commercial banks/Industrial co.

9. Registration for sales tax

State Commercial Tax Office

10. Water supply

Water supply and sewage Board.

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One of the most important components of an employees work life is leave entitlement. However, there is always a confusion how much leave can one avail, what is one legally entitled to, the consequence of the same on wages/salary etc. Take a look at leave policies and the leave provisions under various Acts.

Overtime Pay

Overtime is the excess number ofhours worked by the employee in comparison to normal working hours.Get to know overtime pay provisions applicable under various Acts

Women Entrepreneurs Now and in the Future

6 New industrial policy initiativesThe Governments industrial policy strategy .dk21 contains proposals for strengthening Denmarks position in the global knowledge economy17. This includes a number of proposals for the promotion of entrepreneur culture and improvement of the framework provisions for entrepreneurs. Collectively, the proposals are called Entrepreneur Package II. The proposals in Entrepreneur Package II are partly a follow-up of the entrepreneur policy from 1996 and 1997, where the action plan for the promotion of young peoples entrepreneur culture and innovation as well as the Entrepreneur Package were launched. It is still too early to evaluate the effect of the initiatives up to now, but an increase can be noticed in the number of new registrations, and young peoples desire to become entrepreneurs has risen. The Government wants these positive initiatives to continue, but this would involve stronger industrial policy effort if Denmark wants to compare itself with the best countries, as for instance the US. Therefore the Government wants,

to contribute to making the establishment of ones own enterprise more prestigious. The way to do

this is to start a number of activities to arouse interest, for instance by focusing on role models, by awarding entrepreneur awards, and publishing discussion books about entrepreneurs, to make Danish upper secondary school pupils more aware of the opportunities that exist for a career as self-dependent or as an innovative employee in existing enterprises by means of a nationwide road show to all Denmarks secondary schools and business educational institutions on innovation and entrepreneurs, to establish contact points for entrepreneurs (one stop shops) in order to give all entrepreneurs a coordinated entrance in their local area to all relevant offers., to improve the access of entrepreneurs to loan capital, especially to small loans, to induce the banks to improve their knowledge ofentrepreneurs and thereby their competence in evaluating entrepreneur projects.

The proposals are relevant to all entrepreneurs, but some of them are especially relevant to women. Based on the new insight provided by the analyses, the proposals may be further elaborated so that they appeal to women entrepreneurs. The following chapter gives a brief description of the proposals: Promotion of the entrepreneur culture, a coordinated entrance to counselling, education and sparring, and better access to financing, especially to small loans. 6.1 Entrepreneur culture The entrepreneurial spirit may be promoted in a positive direction by directing more attention to being an entrepreneur and making it more prestigious. This can be done through a number of initiatives to attract

attention to entrepreneurs. This is where politicians, business people, and the media can play an important part. Therefore, at the beginning of the year 2000 the Government established a think tank, which, together with the Danish Agency for Trade and Industry, is intended to support the Danish entrepreneur culture. The think tank consists of the Ministry of Labour, the Ministry of Education, the Danish Entrepreneurs Association, the Confederation of Danish Industries, the Danish Federation of Small and Medium-Sized Industries, Danish Commerce and Services, and the Danish Association of Managers and Executives. In addition, a person with special insight into and an interest in the relations of entrepreneurs has been appointed. The Danish Agency for Trade and Industry is chairman. The think tank will put forward proposals for activities that may focus more positively on entrepreneurs. As a part of the current marketing of entrepreneurs via the media, one of the proposals could be the institution of an annual entrepreneurs day, where prizes are awarded to a number of promising and successful entrepreneurs who can function as role models. The Government finds it important that also women entrepreneurs in the various branches of trade are singled out and made visible. The branches are to be those where women traditionally have their competences in order to whet the appetite of adult women. But also in untraditional branches in order to inspire young girls in the educational system The aim of the current marketing will be to make the young girls more conscious of the fact that there are many career prospects, and that perhaps some of the courses on offer may be a better starting point for establishing an enterprise than others, as for example engineering instead of a librarianship. 6.2 One stop shop for entrepreneurs to counselling,

education and sparring The many offers to entrepreneurs on a governmental, regional, and local level may be advantageously coordinated both to exploit the resources a better way, and to make it easier for entrepreneurs to find out about for instance counselling and sparring in connection with establishing an enterprise. The Government wants a collective upgrading of the resources for the promotion of entrepreneurs by involving municipalities and counties direct in the financing. Secondly, the general counselling of entrepreneurs known from the Free Counselling Scheme before and after the start of an enterprise is to be continued in a new and improved shape.18 Thirdly, offers of counselling, sparring, and training on the national, regional, and local levels will be coordinated more efficiently than they are now. In co-operation with counties, municipalities, and the other players offering services to the entrepreneurs, the Government will establish 14-20 contact points for entrepreneurs, which in each region will be the entrance to all offers to the entrepreneurs (one stop shops). The contact points are a further development of the model from Viborg Countys regional Trade and Industry House, which, for example, assumes the following tasks: 1. Counselling

Basic counselling in connection with the establishment of an enterprise Information meetings Distribution of information material

2. Course activities

Entrepreneur courses Courses on financing, marketing, etc.

Dialogue meetings with local banks

3. Networks for entrepreneurs

Networks for local entrepreneurs Mentor schemes Physical entrepreneur houses Caf for entrepreneurs Local fairs

4. Entrepreneur culture

Cooperation with educational institutions and local business people Supplementary training of advisers Participation in governmental initiatives to promote the entrepreneur culture.

The majority of the tasks at the contact points are already carried out by the regional and local players today. The novel feature is that they are asked to be part of a team where the efforts are coordinated, and where they jointly offer new, relevant services. It is important that each contact point should cover a certain geographical area, which constitutes a critical mass so as to ensure the necessary professional depth in the counselling. The aim is to establish contact points for entrepreneurs all over the country. However, the extent and the nature of offers to the entrepreneurs will depend on the will of the regional and local players to participate in the financing, and the various regions may differ in that respect. In the course of the autumn of 2000, 14-20 consortiums will be asked to tender for the handling of the tasks, which will cover the most important of the offers to entrepreneurs in each area, such as for instance counselling, courses, entrepreneur sparring, information meetings, etc. The regional and local players may be municipalities, counties, trade information offices,

business information offices, TIC, private consultants, educational institutions, providers of courses, etc., where several of the players become compulsory participants in the various consortiums. When it has been awarded a contract, each consortium establishes a virtual and possibly also a physical contact point for the entrepreneurs in the local area, based on a result-oriented contract with the Danish Agency for Trade and Industry and is based on results. The co-financing by the Government is the stimulus for the regional and local players to coordinate their efforts in creating a contact point for entrepreneurs. In 2001 funds will be earmarked for co-financing of the establishment of the contact points. Over a period of two years, the Governments cofinancing will be gradually reduced. It is expected that the local and regional players will gradually increase their financing until in 2003 they match the Governments financing. The results presented in the previous chapters show that for several reasons the establishment of these contact points may be an advantage for women entrepreneurs. In the first place, the women entrepreneurs want a one stop shop which can provide them with relevant, brief and goal-oriented courses on the problems arising in connection with the establishment of their enterprise, but also in relation to the operation and development phase of the enterprise, for instance in connection with employment of staff, management, marketing, purchasing, choice of corporate form, contact with lenders, investors, etc. In the second place women entrepreneurs more often than their male counterparts use counselling and attend courses in connection with the establishment of their enterprise. In the third place, women entrepreneurs want special offers, which might be a natural part of the total package

of services at the contact points. A special offer might be competent sparring when the enterprise has been started. Many of the women in the survey state that they need such sparring. Another special offer might be courses on personal development. The women are aware of their strong points, but they are equally conscious of having some weak points. They may become better at marketing themselves, for instance by appearing more selfconfident, not least at the meeting with the bank. The use of IT and the Internet are also areas that women entrepreneurs could develop. For instance they use the Internet less for retrieval of information and networking to partners than male entrepreneurs, and even though they are eager participants in courses, they participate less in courses on IT and the Internet. Due to the widespread use of information technology in commercial life, this may slow down women entrepreneurs unless they go more actively into this area. Finally, women entrepreneurs are interested in the setting up of professional networks for entrepreneurs. Women entrepreneurs are good at establishing social networks, but they are lagging behind when it comes to professional networks. In connection with the establishment of the contact points, the Government wants this new insight into the needs and motives of women entrepreneurs to be integrated into the offers being made to entrepreneurs. Course activities The contact points should offer courses that appeal to women entrepreneurs. They might be courses on Internet trading, personal development, marketing, etc., which by their title and content appeal to women entrepreneurs, for instance by providing answers to the very questions that

women find relevant. Entrepreneur sparring (the mentor scheme) The contact points may also consider recruitment of experienced usually former owners of enterprises from various branches also typical womens branches, who are willing on a voluntary basis to counsel and guide entrepreneurs in the first, difficult years. In the US a similar scheme has been successfully established, where an experienced owner of an enterprise offers personal counselling to a women entrepreneur with regular meetings for up to one year. Participation in national activities for the encouragement of entrepreneur culture The contact points could also play a role in making women entrepreneurs visible in their local area. This might be done by finding and recommending local, successful women entrepreneurs for a national entrepreneur award. Networks and local fairs for women entrepreneurs Another possibility is the creation of the framework and organisation for the involvement of women entrepreneurs in professional networks in their local area either in networks consisting of women only or of mixed networks. The aim is to take up subjects of common interest, such as the engagement of the first employee what does it involve? Expansion of the firm how can it be financed? How do I maintain a good family life as the owner of an enterprise, etc.? Local or international fairs for women entrepreneurs or for all entrepreneurs, where they can exhibit their products and create a network to customers, suppliers and other partners such as importers, might also be considered. Caf for entrepreneurs and physical entrepreneur houses Finally, in connection with the contact points, the establishment of an informal meeting place for

entrepreneurs where for instance they might bring their children might be considered. Here it would be possible to have a talk with people in the same situation, to exchange views and to create informal business connections. Or to establish a physical entrepreneur house where entrepreneurs could set up their enterprise, draw on each others experience or be sub-suppliers to each other. 6.3 Improved access to financing, especially small loans State guaranteed micro loans Typically, new and small enterprises find it difficult to provide security to the banks, which may therefore be reluctant to finance development activities in these enterprises. This applies in particular where the activities are based on immaterial assets, which are unsuitable as collateral, or where the entrepreneurs have not yet built up capital resources and a reputation. By an amendment to Act on the Growth Fund (the loan guarantee scheme), entrepreneurs in Denmark are given an opportunity to obtain state-guaranteed loans as small as 75,000 DKK through the banks. The bill was passed in July 2000. As mentioned before, women entrepreneurs are reluctant to borrow money for their enterprise. Their business strategy is cautious, and they typically establish themselves in lines of business calling for small investments in immaterial assets, which the bank therefore cannot use as security. Therefore the possibility of obtaining state guaranteed micro loans may prove to be of special appeal especially to women entrepreneurs. In the US a similar scheme has been successful. The micro loan programme (MicroLoan Demonstration Program) meets womens requirements for small loans. Sums from 100 to 25,000 USD can be borrowed. The

average loan sum is 10,000 USD. 46 per cent of the borrowers are women. Micro loans are also offered in Finland, including loans of particular interest for women entrepreneurs. Without providing security, women entrepreneurs may borrow between 20,000 and 100,000 FIM for the operation and development of their enterprise. Improve the dialogue between banks and entrepreneurs One element in the improvement of the financing opportunities of entrepreneurs is the creation of a basis for better knowledge about entrepreneurs. The aim is to make the banks better at advising and evaluating the projects of the entrepreneurs. Therefore the Government, acting jointly with the banks, will consider strengthening their readiness to enter into a dialogue with the entrepreneurs. One way to do this is that selected banks, possibly with co-financing from the state, develop an information concept for the benefit of entrepreneurs, for instance in the form of educational material directed towards the staff of the bank, about the special motive and barriers of entrepreneurs, appointment of special entrepreneur advisers in all branches of the banks, etc. Here it is possible to draw on experience from the Ulster Bank in Ireland. The project in the Belgian bank Gnrale de Banque may serve as a source of inspiration for the development of the concept, which is meant in time to be used by all banks if they want to do so, cf. box 1.Box 1. Entrepreneur service in the Gnrale de Banque

In Belgium Gnrale de Banque offers potential entrepreneurs a Starter service, which includes preparation of business plans and an analysis of business projects. This means that the bank helps customers to present themselves.

The target group is people with sufficient personal capital who consider starting their own enterprise or taking over an enterprise. Persons who are chosen to participate must accept

professional counselling and support during the first three years. The counselling is provided by an experienced adviser selected by the customer from a list provided by the bank. In order to facilitate the planning and administration of this support, the bank has set up a group of advisers from the university world and the business community who are responsible for their recruitment and training. The group also coordinates support schemes for entrepreneurs.

The proposal may prove to be especially useful to women entrepreneurs if the information concept is framed so that the banks are also informed about womens special motives and barriers. When banks make credit ratings, they attach great importance to the personal qualities of the customer. Women are more cautious and less good at selling their business idea than male entrepreneurs, cf. section 4.2. This does not mean that their idea is less viable, but it may be a barrier at the meeting with the bank, which may see it as a sign of weakness. A better understanding of and dialogue with women entrepreneurs may contribute to breaking down these barriers.

Footnotes

Incentives for Entrepreneurship at University: Differences between Men and WomenNatalia Martin Cruz, Juan Hernangomez Barahona and Ana Isabel Rodriguez Escudero Abstract In this paper, our aim is to determine what type of additional training, other than regular university courses and work experience before graduation, can be promoted by universities to encourage an entrepreneurial orientation in men and women. For this purpose, we analyzed a total of 2,012 Spanish university students who were in the final years of their degrees in 2003/2004. Using a logistic binary regression analysis, the results show that for the group of men, extra-curricular training is particularly relevant in shaping their desire to create new business ventures. However, for women, the University of Valladolid should create more policies to facilitate work experience opportunities rather than formal training. Key words: entrepreneur, gender, age, training, experience, university education Theoretical Background In the context of current society, which is characterized by equal opportunities for men and women, gender is of interest for entrepreneurship research (Hisrich et al., 1996; Duchnant and Orhan, 2000; Orhan and Scott, 2001). It has been demonstrated that the motivation of women towards managerial activities is varied and can stem from diverse factors, such as the influence of the environment or the necessity or desire for achievement (Orhan and Scott, 2001). The comparison between male and female entrepreneurs demonstrates the existence of significant differences in relation to such aspects as the capacity of socialization or personality (Fagenson, 1993; Fisher, Reuber and Dyke, 1993; Envick and Langford, 2003). Following research carried out by Peters (2004), the role of women in the economy is one of the most representative phenomena of the beginning of the new century. In the United States, the number of women managing firms increased from nine million in 1997 to approximately ten million, six hundred thousand in 2004 (Center for Womens Business Research, National Numbers, 2004). In spite of these figures, it seems that at present, men are still more likely to create new business ventures and start-ups.

What, then, should be done at university level to ensure that equal numbers of men and women demonstrate an inclination towards business creation? Should different entrepreneurial

mechanisms be used for men and women to encourage them to become entrepreneurs? In other words, should different tools be developed to stimulate the entrepreneurial frame of mind of these two groups of students? Generally speaking, the attributes or characteristics of the individuals that influence their perception of the expected value of an opportunity and, thus, their ability to exploit this opportunity, can be classified into two groups: psychological factors and non-psychological factors (Shane, 2003). We focus on the non-psychological factors and we aim to evaluate whether gender is important in the relationship between entrepreneurial determinants and entrepreneurial orientation, that is to say, if men and women are influenced differently by formal training and work experience sociological variables to have a positive orientation to create a new venture. Both variables formal training and work experience have been widely verified in the literature as the main factors of entrepreneurial orientation and managerial success (Bats, 1990; Robinson and Sexton, 1994; Cressy, 1996; Lorrain and Dussault, 1998; Henderson and Robertson, 1999; Lazear, 2003; Pleitner, 2003; Fayolle, Vernier and Djane, 2004). We test these variables to find out if they influence men and women in the same way. The results will be useful when advising the Rector of the University on the best training strategies for students men and women who wish to create their own firms. ___________________________________________ Insert Figure 1 about here ___________________________________________

Methodology

The information which we used to test the empirical model here proposed was provided by the General Foundation (www.funge.uva.es) of the University of Valladolid (Spain). The Foundation has initiated a study called the Professional Observatory of the University of Valladolid. The aim of this study is to conduct an extensive analysis of the current situation and problems of degrees/studies and educational subject areas taught by the University of Valladolid with regard to their professional development, as

well as to identify complementary education that might help graduates to adapt better to current labor market requirements.

In order to achieve this objective, various data-collecting tools have been developed by the Foundation. One of these tools consists of a questionnaire aimed at students from cycles 3-5 of the various degrees/studies[i]. This is the source of information used in the current study. The number of completed questionnaires for the year 2004 was 2,012.

The mean of the age and gender variables shows that more than half of the students surveyed are women, and that their average age is approximately 23 years. The group of educational variables includes the acquisition of knowledge complementary to university studies, such as the level of foreign language proficiency, the number of trips abroad, the level of computer skills, and receiving other types of complementary non-university education (for instance, courses for developing job research skills, courses for developing teaching skills, sports training and music lessons, among others). To evaluate the students previous work experience, we considered firms internships, voluntary/social work, contractual work (in a position either related or unrelated to the students degree), non-contractual work and previous experience as a self-employed businessman/businesswoman. The dependent variable of the study is a dichotomous variable measuring the students orientation to creating their own firm after graduating. Table 1 provides more information about the measurement of variables and their average values for the individuals in the sample. Table 2 reports the correlation matrix. The analytical methodology used was binary logistic regression, in which the dependent variable was the students propensity to set up their own firm. Logistic regression analysis is suitable when the dependent variable is non-metric and consists of just two groups. Compared to discriminant analysis, choosing logistic regression is justified by the fact that the multivariate normality assumptions do not need to be met. Logistic regression is much more robust when these assumptions are not met. Even if they are met, many researchers prefer this methodology to discriminant analysis, because the interpretation of the results is similar to that of regression analysis.

Logistic regression also tests the hypothesis that a coefficient is different from zero as is done in multiple regression, where the t value is used to assess the significance of each coefficient. Although the logistic

regression uses a different statistic, the Wald statistic, it also provides the statistical significance for each estimated coefficient so that hypothesis testing can occur just as it did in multiple regression.

Specifically, we used a hierarchical logistic regression. This methodology allows us to sequentially introduce different blocks of variables and to check their respective explanatory capacities. First, we included the block corresponding to the main effects of all the independent variables (Model 1). Finally, we added the age variable squared to these variables, to test for the existence of an inverted U-shaped relation (Model 2). The relevance of the inverted U-shaped effect cannot be rejected if the corresponding Wald-statistic is significant. To observe the existence of a moderating effect of gender, we divided the sample into two groups (one group representing men, the other representing women) and we conducted a hierarchical logistic regression for each group.

We used three global goodness-of-fit indices. First, the log-likelihood (-2LL), for which low values indicate a better model fit. This index is similar to the residual or error sums of squares value for multiple regression. In our model, the logistic regressiom for the group of men fits better than that for women. Second, we used the Hosmer and Lemeshow test, which measures the correspondence between the observed and expected results of the dependent variable. A non-significant value indicates a good fit, as in our case. Finally, we employed the Nagelkerke R2, which is interpreted similarly to the R2 of any multiple regression model. In logistic regression, there is no true R2value as there is in OLS regression. However, because deviance can be thought of as a measure of how poorly the model fits (i.e., the lack of fit between observed and predicted values), an analogy can be made to the sum of squares residual in ordinary least squares. The proportion ofunaccounted for variance that is reduced by adding variables to the model is the same as the proportion of variance accounted for, or R 2. An index that reflects this basic idea has been developed by Nagelkerke.

Results

In Table 3, we present the results. The logistic regression for the group of men shows the importance of the education variables. Three of the four education variables are significant in explaining the mens entrepreneurial orientation: the number of trips abroad (0.05, p