EMPOWERING SELF-HELP GROUPS (SHGS): BUSINESS ACUMEN, POTENTIAL, AND CHALLENGES IN MANAGING EMERGING ENTERPRISES

Abstract

Women Self-Help Groups (WSHGs) have emerged as a promising solution, fostering economic empowerment and entrepreneurship among women. This study assessed the business acumen of WSHGs in Balangir, Odisha, focusing on various dimensions like self-confidence, risk appetite, and financial literacy. A descriptive survey method and Participatory Business Acumen Mapping (PBAM) tool were employed to gather data from 378 WSHG members. Findings revealed a mix of strengths and weaknesses across farm-based and non-farm-based enterprises. Farm-based businesses showed high emotional intelligence but lacked in time management, whereas non-farm-based service businesses excelled in networking but faced challenges in leadership. A significant portion of WSHGs demonstrated low to moderate business acumen levels, indicating areas for improvement. Challenges included land ownership issues, access to capital, and skill gaps, while opportunities lay in high-value crops, indigenous enterprise development, and income diversification. Recommendations of the study include capacity building, financial literacy programs, and the promotion of ethical standards and networking skills. This study underscores the importance of enhancing business acumen among WSHGs to bridge the gender gap in economic opportunities.