5 India govt Schemes to Support Women Entrepreneurs
Incredible entrepreneurs are a nation’s wealth. They have a strong role in regulating the economy of a country. Today, women entrepreneurs make a remarkable contribution, in contrast to the olden days. Successful entrepreneurs constantly strive to achieve their goals no matter what the challenges they face.
Bringing a concept to life is no easy task. The process of establishing a brand and entering the market requires a lot of effort, despite the obstacles you face. Many women get stuck in between their entrepreneurial journey, who just need support or guidance to start their venture or who need to expand their venture.
In India, a lot of women entrepreneurs are emerging. The Indian government supports such aspirants in many ways.
According to the sixth Economic Census, women account for just 13.67% of the total number of entrepreneurs, representing 8.05 million out of 58.5 million entrepreneurs in the country. The Indian government has founded many schemes for the empowerment of these women entrepreneurs.
WEP (Women Entrepreneurship Platform)
WEP is a pioneering, unified portal that brings together women from different parts of India, creating a nurturing environment that enables them to realise their entrepreneurial aspirations.
WEP mainly focuses on six main areas to support women entrepreneurs. Community and networking, Funding and financial assistance, Incubation and Acceleration, Compliance and tax assistance, Entrepreneur skilling and Membership & Marketing assistance.
Udyogini Scheme
The Udyogini scheme makes provision for subsidised loans for women entrepreneurs in rural areas. This Scheme focuses on creating Financial empowerment and self-reliance among women.
Cent Kalyani Scheme
This scheme is provided by the Central bank of India with an aim of women’s empowerment by helping them to launch a new venture or expand the current venture. As part of this program, capital expenditures (plants and machinery), as well as working capital expenses (day-to-day expenses), are supported.
Pradhan Mantri Mudra Yojana
PMMY is intended to provide financial support to eligible women who are interested in starting their businesses. Through this scheme, loans are provided for budding women entrepreneurs to start micro-enterprises. They can avail of up to Rs.10 lakh if applied for the loan. The enterprise should not be a non-corporate or a non-farm business.
Bharatiya Mahila Business Loan
The Bharatiya Mahila Business Bank was established to provide financial assistance for women entrepreneurs who dream big. Now the bank is under SBI. They offer loans up to 20 crores for manufacturing enterprises and also no collateral is required if the loan is below one lakh.
Reach out to these helpful platforms and schemes to leverage your entrepreneurial journey. Create your brand and show it to the world. Let the future generation get inspired by aspiring entrepreneurs like you!!!
Author Fauna Kavungal is a freelance content writer and a hands-on mum
