Entrepreneurship is a challenging journey, and for women entrepreneurs in India, it can be even more demanding. From limited access to funding to unequal market opportunities, women entrepreneurs in India face unique obstacles. However, numerous successful women have shattered barriers, such as Falguni Nayar and Kiran Mazumdar. In India, women entrepreneurs comprise around 14 percent of the total number of entrepreneurs. Although challenges persist, there are schemes and credits available specifically tailored to empower women in India to do business. In this article, we will explore these initiatives designed to help aspiring women realize their dreams of becoming their own boss.
The Bharti Mahila Bank Commercial Loan Scheme
One of the prominent schemes for women entrepreneurs in India on our list is the Bharti Mahila Bank Commercial Loan Scheme. This scheme is meant for budding women entrepreneurs who want to start a new business in either real estate or a small and medium enterprise (SME) in the retail sector. Under this scheme, women are given a highest loan amount of up to 20 crawl rupees. Also, a discount of 0.25 percent can be additionally availed on this business loan scheme while the interest rate on this loan scheme is normally 10.15 or at times even more, and this can vary. The Bharti Mahila Bank Commercial Loan Scheme offers substantial financial support to women entrepreneurs in India, enabling them to establish and grow their businesses successfully.
The Dana Shakti Scheme
The Dana Shakti Scheme is another initiative aimed at providing financial support to women entrepreneurs in India. This scheme enables women entrepreneurs in India to avail a loan of up to 20 lakh for sectors such as horticulture, retail, exchange, education, and housing. Moreover, a micro-credit of up to 50,000 can also be availed under micro-credit schemes. The interest rate for women entrepreneurs, who are majority stakeholders in the company, is fixed 0.25 interest below base rates. The Dana Shakti Scheme is a valuable resource for women entrepreneurs, offering them the necessary financial assistance to pursue their entrepreneurial dreams
in various sectors.
The Udyogini Scheme
The term "Udyogini" means women entrepreneur, and the Udyogini Scheme in India encourages poor women entrepreneurs to achieve financial support to start a business. Women entrepreneurs between the ages of 18 and 45, whose annual family income is 45,000 or less, can avail themselves of up to 1 lakh under this scheme. The Udyogini Scheme aims to empower women entrepreneurs in India from economically disadvantaged backgrounds, enabling them to establish and sustain successful businesses. This initiative plays a crucial role in fostering entrepreneurship and economic growth among women entrepreneurs in India.
The Mahila Udyam Nidhiski Scheme
The Mahila Udyam Nidhiski Scheme, introduced by SIDBI, aims to engage women entrepreneurs in India and provide them with the necessary cash flow to maintain their businesses. If you are a businesswomen facing cash flow issues, then this scheme is designed specifically for you. Under this plan, a women entrepreneur can obtain a credit of up to 10 lakh for starting a small business
, with a repayment period of 10 years. Furthermore, the cash provided under this plan can be utilized in the service, manufacturing, and production areas only. The Mahila Udyam Nidhiski Scheme addresses the financial challenges faced by women entrepreneurs in India, ensuring the sustainability and growth of their businesses.
The Stree Shakti Scheme
The final scheme on our list is the Stree Shakti Scheme, an initiative by SBI for women entrepreneurs in India who own and manage retail trade or business enterprises of professional and self-employed nature. If you are a women entrepreneur in India operating in sectors such as retail trade or professional services, such as being a doctor or running a beauty parlor, this scheme offers significant support. The main criterion to apply for this scheme is that the enterprise should have more than 50 percent of its share capital owned by women. Women entrepreneurs in India can avail themselves of an amount of up to 20 lakh from banks, along with working capital and term loan facility, under this scheme. The Stree Shakti Scheme provides valuable financial resources to women entrepreneurs in India, empowering them to excel in their chosen sectors and contribute to economic growth.
Women entrepreneurs in India face unique challenges, but with the support of various schemes and initiatives, they can overcome these obstacles and thrive. The Bharti Mahila Bank Commercial Loan Scheme, Dana Shakti Scheme, Udyogini Scheme, Mahila Udyam Nidhiski Scheme, and Stree Shakti Scheme are just a few examples of the numerous opportunities available to women entrepreneurs in India. By availing themselves of these schemes and leveraging the support provided, women entrepreneurs in India can confidently pursue their entrepreneurial aspirations, contribute to the economy, and inspire future generations of women entrepreneurs.Also Read: How are these 10 Indian Women Entrepreneurs contributing to the Economy