Entrepreneurship among women is a vital component of overall solution in our country. It boosts the economy through job creation and delivers transformational social and personal outcomes for women. Combination of financial and administrative reasons needed to women being on paper owners with little role to play. Achieving this visionary but realistic goal requires understanding the barriers facing the various types of women entrepreneurs across our country.
Increasing the quality and quantity of entrepreneurs can create over 30 million women owned Enterprises. All segments of entrepreneurs face severely inhibiting cultural constraints. Most of the women work as unpaid caregivers,household managers etc. But minority women work outside the house. While now women are better educated and enjoy improved Health Care. As routine jobs become automated ,the pressure on women will intensify and they will experience higher unemployment rates.
Entrepreneurship among women has the power to create positive outcomes for individuals and societies. Micro, small and medium enterprises lead to long term employment creation. When provided with equal access to inputs ,women owned enterprises produce equally strong economic outcomes. Investing in women builds economic and social prosperity by enabling gradual social shifts from high fertility, low education and poor health to making more conscious reproductive choices ,higher education and better health for self and family.
They experience greater financial independence ,control and autonomy. It increases retention of women in the workforce. Now women owned enterprises are growing from 14 to 20 percent as per government sources. While the opportunity for women entrepreneurship is huge. It is important to identify the various segments of entrepreneurs.
Whether motivated by opportunity, women want to scale their enterprises. Limited access to relevant business and technical skills is a major impediment in scaling. Women are less integrated with the formal and informal networks. Low personal savings, Limited financial support from family, lack of funding from banks make it hard to start, grow and scale. Social permission to work can be difficult to obtain because of cultural practices and social beliefs.
Government provides various schemes to start women entrepreneurship. It supports them to start business. It helps to become self dependent. 20% of MSME institutions are run by women in India .In Indian labour force 24%of women have partnership. Founder and CEO of NYKAA company is madam falguni Nair.CEO of Pepsi company is Indra nooi.
Govt schemes support to women entrepreneurship
1.MSME Marketing Assistance Scheme
- Micro, small,medium enterprise sector has a highly vibrant sector of the Indian economy.
- It does not play a crucial role in providing large employment opportunities at lower capital cost.
- It helps in industrialization of rural, backward areas.
- Reducing regional imbalance
- Assuring equitable distribution of national income.
- Many opportunities are open for this sector to improve productivity and look for New markets.
- Marketing is the most important factor for the success of businesses.
- Large Enterprises have enough resources and higher manpower to take care of marketing of their products.
- It enhances marketing capability and competitiveness.
- You can see all the details in MSME websites.
- You Can register a business and take an MSME license and you will get these benefits.
- Women entrepreneurs get upto 95% subsidy from the government.
- Government supported domestic and international trade fairs.
- You will get a 95% subsidy from the government to start a stall.
- Government provides Rs 20,000 for freight to move stock for display .
- If you travel internationally, the government provides 95% of tickets for economy class.
- It helps to develop a business idea comfortably.
2 . Orient Mahila Vikas Yojana
- It was launched by Oriental Bank of Commerce in India.
- It provides minimum credit needs of women entrepreneurs.
- Women entrepreneurs can attain up to 2% concession on the interest rate.
- There is no requirement of collateral security for loans from Rs 10 lakhs to 25 lakhs.
- Women entrepreneurs individually or jointly have a share capital of 51 percent or more as shareholders of cooperative society are eligible for this scheme.
- The repayment period is 5 to 7 years with the maximum prohibition of 3 to 6 months.
3.Udyogini
- It promotes women entrepreneurship in rural India by providing solutions to their aspirations.
- It is developed by Women Development Corporation.
- It provides subsidised loans to aspiring women entrepreneurs.
- It promotes women entrepreneurship ,financial empowerment ,and self -reliance.
- It encourages and motivates female entrepreneurship by providing women with financial help to start business.
- It helps to improve individual and a family income
- It provides interest free loans without discrimination to women.
- It offers interest free loans to farming womens.
- It Coordinates and implements professional development training programs for women.
- Encouraging women to take loans from the Bank.
- It makes financial assistant women from SC, STcategory.
- It is to prevent a woman going private to money lenders.
- It provides interest free loans to eligible women entrepreneurs in agriculture ,retail and small business Enterprises.
- After the sanction of loan EDP training for three days is provided to the women.
- Age limit is 18 to 45 years.
- It helps to get up to Rs1 lakhs loan.
- The eligibility is annual income is below Rs 45,000.
- Widows,disabled ,SC,ST category peoples will get 30% subsidy.
4.Mudra yojana
- It is a scheme of the Government of India to extend the affordable credit to small enterprises.
- According to this scheme loans are available to non form micro or small enterprises engaged in manufacturing ,trading and services enterprises
- It provides tuition centers, tailoring units, beauty parlors, etc.
- You will get a mudra credit card.
- You can deposit 10% of the total outstanding amount.
- It has three categories. They are sishu, kishire ,Tarun categories.
- Sishu category- upto Rs 50,000
- Kishore category- Rs 50,000 to Rs 5 lakhs.
- Tarun category- Upto 10 lakhs.
5.Bharatiya Mahila Bank Business loan
- Bharatiya Mahila Bank started with the vision of promoting economic opportunities for women.
- It is indented for most business purposes to meet a requirement of working capital.
- It offers a loan amount to the maximum value of Rs 20 crore to manufacturing enterprises.
- They offer special business loans with lucrative rates of interest.
- They grant collateral free loans up to Rs 1 crore.
- You can use this loan for retail businesses like textiles,boutique, etc.
6. Annapurna schemes
- 10 kg of food grains is distributed per month free of cost about the age of 65 years.
- It provides food security to meet the requirements of senior citizens.
- The applicant a must be destitute in the sense of having little substance from her own source of income from family members
- It is a social sector scheme
- It provides food assistance to the senior citizens.
- It provided to senior citizens do not included in National old age pension scheme
- It helps 20% of persons eligible to receive pension under NOAPS.
- It helps to start buying equipments for food manufacturing products.
- In this scheme State Bank of mysore provided upto Rs 50,0000
- Do not need collateral for this scheme.
- You can repay it within 36 months as u installments .
7. Dena Sakshi scheme
- It promotes economic opportunities for women.
- Dena Bank create a platform for Women entrepreneurs to get to business loan
- It is intended for most business purposes to meet the requirement of working capital.
- This scheme covers agriculture. small enterprises ,micro and small Enterprises, retail trade, micro credit ,housing and education sectors.
- You will get up to 20 lakhs.
- The repayment period is 7 years.
8.Cent- Kalyani scheme
- It encourages women entrepreneurs to start new businesses.
- It helps to make a capital expenditure.
- You will get up to 1lakhs from this scheme.
- It provides empowerment of women to start new businesses.
- It generates continuous Employment opportunities for Women entrepreneurs.
- It is provided by the Central Bank of India.
- You can revive business
9. Mahila Udyam Nidhi Scheme
- It encourages women entrepreneurs and promotes women entrepreneurship by providing financial assistance at a concessional interest rate.
- The woman entrepreneurs can avail up to Rs 10 lakh.
- The maximum loan repayment period is up to 10 years with Moratorium pages up to 5 years.
- It is provided under Punjab National Bank.
- you can start day care centers, beauty parlors, auto rickshaws, etc
10.Street Sakshi packages
- The women entrepreneurs will get upto Rs 20 lakhs with concession interest rates.
- It is under state Bank of India