India ranks 3rd globally in terms of family owned businesses according to the Credit Suisse Family 1000, 2018 report, still we are yet to see a lot more women leading family businesses. As per the E&Y – Women in Leadership (The Family Advantage) report, at least 30% of family businesses are strongly considering a woman for the top spot. So, what would it take to have more women lead family businesses and also have more women entrepreneurs found their own companies in India?
Firstly, it would take the strong belief that if we want to see India among the top economies in the world in the next decade, we need to have more women leaders in corporate India. While the fact that women leaders bring a more diversified and holistic management style along with better corporate governance standards is already well documented, they more importantly become the role models for the next generation of girls who then push themselves harder to excel in their own careers.
Secondly, it would take a societal change where we actively work to support our women, whether it be through the very important discussions around paternal leave to creating more flexible work options allowing women to stay longer in the work force and encouraging more women to start a business post taking time off for having children or taking care of aging parents.
After all the research by several well-known agencies and companies shows that the next 10 to 15 years will see a significant movement to more businesses being led by women and India has the opportunity to be in the forefront of this change today. If only we can bring the mindset change that is so needed in our homes, where we stop thinking of only our boys being able to carry the family name forward and instead also look towards our girls ability to do the same.
