A silent revolution is now taking shape among women. Since the turn of the century, growing industrialization, globalization, and social legislation have contributed towards a change in status of women worldwide (Jayachitra and Vijayakumar 2013). With an increase in education and awareness, women have come out of their kitchens and reached out to a higher level of professional activity (Jayachitra and Vijayakumar2013). In almost all developed countries, women have successfully equaled men in the corporate field (Nandy and Kumar 2014). Womencontrolled and women -owned enterprises are now seen as vital functional elements of the society and the economy, representing approximately 25.8 to 28.1 percent of the total entrepreneurship in the world. According to a report by Women’s Business Research (2009), growth rate of women entrepreneurship was twice as fast as compared to other enterprises from 1997 to 2002. It was also identified in the Women’s Business Research (2008) report that 10.1 million firms are now supervised and run by women (40 percentage of privately owned enterprises), generating employment for more than 13 million and around $1.9 trillion in turnover in the United States. Women owned businesses can today be found in every sector of the economy and in every region of the US (WBR 2009 Report). Similarly, women-owned businesses in Canada account for nearly one third of all businesses in Canada and provide nearly one million jobs for Canadians. In Ireland, women’s entrepreneurial activity has increased from 4.2 percent in 2006 to 5.9 percent in 2007; this represents over 1,000 women (on an average) starting new businesses in Ireland each month. With more than a million self-employed women, women-run enterprises are now increasing even in the United Kingdom. In Sweden, more than 30 percent of new entrepreneurs are women. In 2007, nearly 32.4 per cent of all Austrian enterprises were supervised and controlled by women. In Denmark, around 25 per cent of all entrepreneurs are women. There were 74, 000 women entrepreneurs in Finland in the year 2007. In 2006, women made up 30.6 per cent of self-employed workers and entrepreneurs in Germany (GEM, 2013Report). According to Observatory on Women Entrepreneurs (2007), there are over 1.3 million women-owned firms in Italy, accounting for 24.02 percent of all startups and firms in the country. The Labor Force Survey suggests that for the last quarter of the year 2007, women accounted for about 30.9 percent of all entrepreneurs. As per AMEX OPEN State of WomenOwned Business Report, the highest ranked countries on grounds of revenue generation by women-owned and women-led firms are – United States (1), Australia (2), Germany (3), France (4) and Mexico (5). India ranked 16th despite the country’s latest economic and commercial surge. India is the fastest growing economy in the world and provides significant opportunity to entrepreneurs. However, the environment for women entrepreneurs in the country is not very encouraging because of the prevalence of patriarchy in business. Though the percentage of women entrepreneurs has constantly increased from 14% in 1970 to 31% in 2010, motivated women who could really make a difference are still very less. After India introduced a new law in 2013 and made it mandatory for every company to have at least one woman on the board of directors, the number of successful women entrepreneurs has increased, but not significantly.