Purpose: The core objective of this study is to make an attempt to analyze the key problems and challenges faced by women entrepreneurs during project stage and the nature of support received in their demographic and professional background. Research methodology: The present study is exploratory and descriptive in nature. Pre-coded as well as open ended questionnaire were filled through email, post and personal visit to generate relevant information Sample women entrepreneurs were randomly picked from the MSMEs registration list. Study was limited to 131 women entrepreneurs of manufacturing and ancillary units located in Mumbai and urban suburb. Simple statistical tools i.e. percentage, frequency, mean and rank were used to analyze the data. Findings: The findings of the study indicate that very few women entrepreneurs had professional qualification and undergone formal trainings. Also most women were house-wives before induction in to the business and were lacking practical experience. The majority of women entrepreneurs have faced problem in financial area, fulfilment of regulatory requirements and technical matters including project report and received support from family including spouse. Originality/value: There are not many studies available on challenges faced during initial stage of business life cycle by women entrepreneurs. This study intends to fulfill that gap.