- NewBiz Report

Women still face numerous challenges in their entrepreneurial journey. During the panel discussion at the 4th New Business Women's Summit and Awards 2024, stakeholders said women must navigate issues ranging from household responsibilities to policy barriers. Participants of the panel discussion moderated by Samanata Thapa, Co-founder and Program Head of Startup Discovery Asia, said that despite these obstacles, women can still achieve success as entrepreneurs.

Padmakshi Rana, Executive Director of Impact Hub Kathmandu, highlighted access to finance as a critical issue for women entrepreneurs. "The biggest problem is the lack of access to finance," she said, noting that creating a business plan is also a significant challenge. She called for state support in everything from financial aid to business planning to foster more women entrepreneurs.

She identified gender bias as another obstacle in promoting women's entrepreneurship. "It is difficult for women to start a business," she said. "It is not easy to explain or convince the family. Also, there is a tendency for people to doubt women’s ability to succeed. Women face challenges in gathering necessary documents, registering businesses and establishing communication and contacts."

Stating that women need curated networking opportunities, she mentioned that Impact Hub Kathmandu has been facilitating women through team-oriented events held quarterly with specific themes to ensure meaningful and impactful networking.

Swastika Shrestha, CEO of Teach for Nepal, said proper education is crucial for empowering women. "There is still a belief in our society that boy child should receive higher education. Due to poor economic conditions and societal biases, those who study in public schools often feel inferior which affects their personality and leadership development,” Shrestha said. “This, in turn, reduces their chances of becoming entrepreneurs or leaders.”

Shrestha also said that when a family's financial situation is weak, it hampers their progress, forcing many to work for their parents instead of pursuing entrepreneurial opportunities. "Behind every successful man is a woman, but a woman often needs the support of a whole village," she said, emphasising the critical role of mentorship in motivating women.

Mahesh Bhattarai, Head of the Economic Management Division at the National Planning Commission, stated that Nepal's constitution has laid a foundation for women's empowerment by ensuring equality and special rights for women. He added that the country’s periodic plans also support this goal. Bhattarai emphasised the need for all stakeholders to collaborate to advance women's development and empowerment.

He further noted that the new periodic plan should integrate women’s issues across all fields of development rather than treating them separately. "The state has guaranteed that women will not face discrimination in any field," he said. "The government has ensured mandatory maternity leave and provided tax incentives for women-run enterprises."