Entrepreneurial spirit is high among women worldwide – particularly younger generations – in a bid to pursue their dreams, gain financial independence, improve work-life flexibility, and make a difference in the world.

New research from Mastercard, released ahead of International Women’s Day 2025, reveals almost half (45 per cent) of women in India have considered running their own business. This increases significantly among millennial women (46 per cent), followed by Gen Z (45 per cent) who are far more likely to say this than Gen X or Baby Boomers, both accounting for 38 per cent each. 

The top three motivators for Indian women to start their own business are the desire to pursue their dreams (51%), the search for a better work-life balance (44%), and freedom from traditional working structures (40%). Further, nearly half (46%) of Indian women currently have a side hustle, with the figure increasing to 61% among women baby boomers, who are more motivated than all other age groups to start their side hustle to earn more money.

Women business owners are slightly more likely (89% for women; 87% for men) than their male counterparts to say they expect revenue to grow over the next five years. Nearly four in ten (38%) women expect more than 50% growth over the next five years compared to just a fifth (20%) of men. The industries in which they would like to start a business are education (28%), food and drink (21%), and working as an online seller (16%).  

Barriers faced by women entrepreneurs
Despite evident appetite for entrepreneurship, the research shows that for many women, including those who have already started a business, there are still barriers in place. Around four in ten (42%) women would like to start their own business but believe it isn’t possible for someone like them — with the count rising to 46% among Gen Z women.

The main barriers preventing them from setting up their own business are limited understanding of the customer base (38%). Further, over a third (36%) of women claim they lack the financial resources to start a business, compared to 29% of men. Lack of funding (24%), risk of failure (29%) are some of the other challenges faced by women when starting their business.

Women who have already started a business also say they struggle disproportionately with caring responsibilities and work-life balance, with women founders twice as likely as men to say childcare arrangements were a challenge when starting their business (16% for women vs. 7% for men).