Social risk in female entrepreneurship

The aim of this chapter is to introduce an alternate means of conceptualising risk, as well as, intercede the concept to the situation of Indian female entrepreneurs. In most contexts, risk tends to be associated with finance (Buttner & Rosen 1988; Jianonkoplos & Bernasek 1998; Verheul & Thurik 2001); however, other intricacies hindering the growth of female entrepreneurship need to be considered. This aspect is trivial when studies are conducted in a culturally rich country like India. When analysing the situation of women in India, researchers refer to the Manusmriti to highlight the social stigma against women in India. Manusmiriti is ‘an encyclopædic treatise in verse on human conduct, morality and sacred obligations’ (Bayly 1999, p. 14). The Manusmriti evinced that a woman is not fit to be independent, and she is dependent on either on her father, husband or son (Manusmriti translated by Wendy Doniger 1992, p. 197). This questions women's role in the society hence leading to the assumption that there are many society based constraints. In the paper titled, ‘Social Risk and Female Entrepreneurs in Kerala, India – A Preliminary assessment’ the authors analysed the response from 40 female entrepreneurs and derived 5 categories from the qualitative analysis. These concepts are highlighted as society based constraints and named as Social R[i]sk.