For the long-term development of a country, be it economically or socially, women of that country should be empowered. No country can attain its full potential without adequately investing in the capabilities of women. Women entrepreneurship can be an effective strategy to solve the problems of rural and urban poverty. A women entrepreneur is therefore a person who takes risk and is confident , creative and innovative about her work ability, who aspires to be economically independent and simultaneously creates employment opportunities for others. Women entrepreneurs are slowly making their mark as business women and have achieved remarkable success. However, they are still very less in number as compared to their male counterparts.
Now, this is the time for women to take part in the mainstream economic development of a country. But, they faces a lot of problems while stepping into the world of entrepreneurship. The major roadblocks on their entrepreneurial journey is lack of financial capital, gender inequality, lack of social support from their own families and a lot more. Now, the question arises how is this possible to create an entrepreneurial space for women to grow in the field of business? This can be simply done by following the given below suggestions:
- Building the capacity of service providers that promote women entrepreneurship development.
- Removing the specific gender barriers that they may face.
- Offering better access to finance.
- Providing better educational facilities for women.
- Conducting adequate training program.
- Arranging relevant technological assistance.
- Counseling through the aid of committed NGOs.
To facilitate the growth of women entrepreneurship, various schemes introduced by financial institutions in India including nationalized banks that all women entrepreneurs need to aware of.
Popular schemes offered exclusively for women to promote women entrepreneurship:
1. Cent Kalyani: This Scheme is offered by the Central Bank of India with the aim of encouraging women to start a new business or expand or modernize the existing unit.
2. Stree Shakti: This scheme is run by the State Bank of India to strengthen the process of economic development of rural women and make them self-reliant.
3. Mahila Udyam Nidhi: This scheme is offered by Punjab National Bank and Small Industrial Development Bank of India to meet the gap in equity.
4. Dena Shakti: Dena Shakti is a SME loan specially designed for women entrepreneurs to facilitate them to establish and run their own business. This Scheme is offered by Dena Bank, now merged with Bank of Baroda.
5. Bharatiya Mahila Bank Business Loan: Bharatiya Mahila Bank is now a part of State Bank of India. The BMB provides business loans to women entrepreneurs and provides a level playing platform for them.
6. Udyogini Scheme: This scheme is implemented by Women Development Corporation under Government of India. This scheme aims to provide subsidized loans to women entrepreneurs from rural and underdeveloped areas.
