8 Government Schemes That Aim To Support Women Entrepreneurs

8 Government Schemes That Aim To Boost Women Entrepreneurship In India

Government Supports Business Women Of India

A country runs on two wheels: equality and equity. Equality of opportunity and Equity in terms of the distribution of resources. Everyone should get an equal chance to win in life and perform their best as per their skills and abilities. Hence, in this run, resources must be divided in such a manner that the marginalised, needy and vulnerable get the bigger share, to begin from the same starting point as others who already have enough resources with them. It brings them to the same starting line and only then the race is fair and just. 

Women have always been on this side of the line. They deserve equal opportunities and chances. The government focuses on ensuring that women get the resources they need to make the most out of the opportunities they get. They need support and nurturing from the government to strengthen their ideas and expand their business. The government launches special schemes and policies to catalyse the ventures of women entrepreneurs in India. The schemes and policies are curated keeping the problems faced by women entrepreneurs in mind. Let us look at some of the government policies and schemes which are specially launched for Indian women entrepreneurs.

Government Schemes for Women Entrepreneurs

Women entrepreneurship in India is not a cakewalk. The government is constantly working on building a women-friendly business environment in the country with various measures. More and more women are encouraged to begin their startup ventures based on their innovative ideas to build their niche. This spirit of women entrepreneurship is supported by the government with the following startup schemes and policies:

Mudra Yojana Scheme
This scheme is for women who want to begin with or expand their small businesses. This scheme is highly beneficial as they can apply for a loan for beginning their small ventures like salons, stitching/tailoring business, tuition, etc. without requiring the collateral/guarantor for the loan. Mudra loan for women ranges between Rs. 50,000 to Rs. 10 Lakhs. There are several categories into which this amount is divided.

Dena Shakti Scheme
Dena Shakti Scheme provides loans of up to Rs. 20 Lakhs for women entrepreneurs from the sectors of Partnership firm business, Retail stores, Manufacturing sector, Microcredit organisations, Housing, Agriculture, and Education. It also provides a 0.25% concession on the interest rate.

Mahila Udyam Nidhi Scheme
This scheme is in alliance with Punjab National Bank & SIDBI for women entrepreneurs who want to set up a new small-scale business. Loans of up to Rs.10 Lakhs which shall be repaid in 10 years are offered under this scheme. The rate of interest depends on the market trends of the rates.

Udyogini Scheme
This scheme is for rural women who want to begin their businesses but have nothing at all, to begin with. It is implemented by the Women Development Corporation under the Government of India. This scheme is specially designed for women who come from comparatively poor and struggling backgrounds with the annual income of the household being below Rs. 1.5 Lakhs. Women Entrepreneurs can avail of loans of up to rs. 3 Lakhs at an extremely low rate of interest.

Synd Mahila Shakti Scheme
This scheme is introduced by the Syndicate bank with the objective to help and support women entrepreneurs to develop their businesses with financial assistance. It provides business loans for working capital or to expand the business. Loans of up to Rs. 5 crores are provided with a concession on the interest rate.

Cent Kalyani Scheme
Women Entrepreneurs who want to expand their SMEs can avail of loans of up to Rs. 100 Lakhs sanctioned under this scheme launched by the Central Bank of India. The loans are sanctioned without any requirement for collaterals or processing fees.

Bhartiya Mahila Bank Business Loan
This scheme is a part of the State Bank of India (SBI) which aims at providing help to women entrepreneurs with the development of their already existing businesses and economic empowerment to become financially independent. Loans are provided for working capital or business expansion with a lucrative interest rate. An applicant can also avail of grants of up to Rs. 1 Crore without the need for collateral under CGTMSE.

Startup India Certificate for Entrepreneurs
Under the “Startup India, Stand-up India“ project, the government of India launched the Startup India Certificate for Entrepreneurs in the year of 2015. This startup India scheme for women has numerous benefits for the budding entrepreneurs of the country and aims at providing the support and impetus needed for the startup sector of the country.

Women Are The Future

Women Are The Future for Women Entrepreneurs

The current status of women entrepreneurship in India is far better than what it was a few years back. Women entrepreneurs are giving a new direction to the startup ecosystem of the country. In the upcoming times, we are about to see women of the nation take over the market with their innovative ideas. Women make up about over 14% of business owners now.

The government startup schemes and measures to support women with their ventures have proved quite successful so far. Schemes like Women Enterprise Development are assisting these women-led businesses financially and helping them expand their business into successful ventures. Even those women entrepreneurs who have nothing but innovative ideas, to begin with, are supported and provided with the necessary assistance to take the first step of their startup journey.

Apply For Assistance Now

Women Entrepreneurs must avail these opportunities and take the first step towards their successful business venture. It’s your time to shine bright with your innovative ideas and become financially independent. If you are a budding entrepreneur with no other support or guidance then you need to consult experts to understand how to expand your business.

Starting a business comes with various documentation and paperwork. Be it incorporating your company or applying for schemes to avail the funds. At Egniol Services, we help entrepreneurs achieve their startup goals. We provide business consultancy and complete assistance for all your business needs. We help startups to apply for government grants and funding schemes with all the necessary documentation and paperwork. Our team of expert professionals guides and coordinates with you throughout the application procedure. Get in touch to know more.

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