If she can transform 4 walls of bricks & cement into a home, she can certainly build a business.
This Women’s Day, empower the women around you, appreciate their effort & help them solve the problems of society. Let us all work together to build a better entrepreneurship network so that more and more women can come out with their brilliant business ideas.
To inspire and boost the spirit of entrepreneurship in women, here are some of the top pieces of advice from the leading business entrepreneurs:
Never Shy Out of Hard-work, Trust the Process & Don’t Lose Hope
There are no shortcuts to success, and even if there are, the success you will get would be short. Therefore, keep hustling, keep putting in the extra hours. There would be days when you will be questioning everything; put your head down and let those days pass. Keep reviewing and keep updating the process, but never lose your faith.
Hold on to Your Values
Never compromise with the values you believe in. Setting up the right brand values and sticking to them is essential to any business. If you strongly believe in the morals and values that you have set sight on, it’s easy to instil them in the core of your company.
Understand the Power of Networking
You never know where your next funding could come from. Who can be your potential business partner, or what if you get a brilliant business mentor? The right networking always has perks that add to your business and its growth, and I guess there is no harm in meeting new people or making some new friends.
Step Out of Your Comfort Zone
Whether it’s voicing your opinions or learning a new skill or asking for help, never shy away from doing what you need to. Challenging yourself at every step of the way can become a powerful tool for you to not only grow your business but also yourself as a businesswoman.
After realizing the importance of women entrepreneurs, the GOI (government of India) has launched many schemes & new loans to give aid to the budding women entrepreneurs in India. These schemes also aim at encouraging more women to be entrepreneurs.
Here is a brief look at a few of the Government-backed Schemes:
The Cent Kalyani Scheme
Started by GOI in association with the Central Bank of India, this scheme aids the new and already existing women entrepreneurs with the capital expenditure (plant/machinery setup). The maximum amount that women entrepreneurs can get as a loan is INR 100 lakhs. With a zero-processing fee and additional concession in the interest rates for loans above INR 10lakhs, this scheme can help you battle all your monetary issues and run your business hassle-free. All the women working in the MSME sector as per MSME Act 2006 are eligible for the loan.
Mudra Yojana Scheme for Women
Started by GOI in Fiscal Year 2016, Mudra Yojana aims to help all the Non-Corporate Small Businesses financially. This scheme provides loans up to INR 10 lakhs to all NCSBs under their three interventions: Shishu, Kishor & Tarun.
- Shishu – Under this intervention, businesses can get loans up to INR 50 K.
- Kishor – This intervention all businesses to take loans between INR 50 K to 5 lakhs
- Tarun – In this intervention, a business can get loans between INR 5 lakhs to 10 lakhs.
Backed up by the State Bank of Mysore, this scheme provides loans to all those women entrepreneurs who are willing to set up their business in Food and Catering Services. The maximum amount pledged under this scheme is INR 50 K which aids companies in buying utensils and other kitchen tools and equipment. To take a loan under this scheme, you need to have a guarantor; and you need to pledge the business assets as the collateral. The repayment time available is 36 months.
Bhartiya Mahila Business Bank (BMB) Loans
This scheme aims to help all the new and budding women entrepreneurs in the retail, Loan against property, Micro Loans and SME Loans. Merged with SBI in 2017, this bank allows you to take loans up to 20 Crores, and you need not have a guarantor for the sum up to 1 crore. The bank sanctions loans in this scheme under four categories
- BMB Shringaar: Loans for Beauty, Spas & Salons
- BMB Annapurna Loan: Loans for Food Catering Businesses
- BMB SME Easy: For Small & Medium enterprises loan
- BMB Parvarish: Loans for Day Care Business
Several other schemes are live now & various new ones are getting formed to help women entrepreneurs. The wave of entrepreneurship is already live in our nation & now is the time empower women to build successful businesses.