As regular jobs got automated and as there is a global explosion in the working-age population, the unemployment rate and gender-based employment gap took a steep rise globally. This has led to a lot of grinding. New perceptions and non-traditional growth stories can lead to a better economy and more employment opportunities.
Today, entrepreneurship can build more opportunities and can bridge the employment gap between men and women in India and across the world. Although most of the startups are run by men, an interesting fact to share here is as, in FY21, the number of MSME enterprises led by women is 1.23 crore which indicates that just around 20% of MSME entrepreneurs in India are women.
Challenges faced by women entrepreneurs in MSME
- Gender bias in the society and family responsibilities pulling them back
- Stiff competition faced in the market
- Scarcity of funds and raw materials
- Little scope of education
- Limited access to technology and resources
- Being more calculative, they have a low risk-taking tendency
- Limited access to capital as the traditional lending system doubts their credibility
Despite all these challenges, this humble but bold gender has every potential to take charge of the self and everyone around. If women are given equal opportunities in every respect, then both as professionals and as entrepreneurs women can be equally productive as men.
Factors leading to the rise of women entrepreneurial businesses
- Awareness and facility of social networks
- Growth of Fintech
Support initiatives by Government of India for women-led businesses
- Government of India supports women entrepreneurs through various schemes. Niti Ayog (Women Entrepreneurship Platform) in partnership with SIDBI provides an ecosystem for women entrepreneurs.
Visit the website: https://www.startupindia.gov.in/content/sih/en/government-schemes/Wep.html
- Some of the Government loan schemes supporting women entrepreneurs include Mudra loan, Stree Shakti Yojana, Mahila Udhyam Nidhi Yojana, and more.
- STEP scheme to support women’s employability and entrepreneurship capabilities. Visit: https://www.startupindia.gov.in/content/sih/en/government-schemes/support_to_training_and_employment_programme.html
Women entrepreneurs are supported globally- some examples
- Trachet, a woman-led advisory and boutique consulting, is working at providing a balanced set of advisory and other management opportunities to entrepreneurs irrespective of their gender.
- Dubai based company FasterCapital is supporting women entrepreneurs: https://fastercapital.com/supporting-women-entrepreneurs.html
- COWE India supports women entrepreneurs with entrepreneurial development programs, marketing opportunities and exhibitions, visit the website: https://co-we.com/index.php
- Fintech companies facilitate women entrepreneurs with digitization, automation of collections and easy access to credits. Read what women leaders in fintech say: https://fintechmagazine.com/editorial/women-in-fintech-talk-international-womens-day-2022
- Also read some unusual women’s day initiatives by top companies: https://thehardcopy.co/six-unusual-womens-day-initiatives/?utm_source=mailchimp_thc&utm_medium=email
Hylobiz –fintech support for businesses
Hylobiz is a fintech working expensively in India, UAE and CEMEA regions and catering the businesses in the B2B segment. The neobank has 2500+ customers onboarded with us. We facilitate SMEs and other businesses to integrate their existing ERP with us. We have partnered with some world-class top ERPs such as Zoho Books, Tally, Innoventry, and many more.
Our connected banking services are live with India’s leading banks like Kotak Mahindra Bank and YES Bank. We also offer business loans in partnership with Bajaj Finserv and Neogrowth credit private limited. Avail business loans from Bajaj Finservà https://bit.ly/bajajfinservbusinessloans
Visit our SME offering page: https://hylo.biz/offerings-sme/
Top Hylobiz features include
- account receivables and payables automation,
- faster collection with payment links and automated reminders,
- easy payouts
- cash flow visibility and auto reconciliation at realtime,
- quick settlements
- automated invoices and inventory management
- access to credits
Read more on Hylobiz features: https://hylo.biz/grow-with-hylobiz/.
Read Hylobiz blogs on https://hylo.biz/blogs/
Follow us on medium: https://medium.com/@hylobiz
Sneak peek into some interesting Hylobiz facts
- ISO certified platform offering data encryption and 2-factor authentication
- Certified by Visa International
- Free subscription for a lifetime and zero installation cost. Sign up for free and Book a demo
- Competitive transaction cost
1. Business lending system https://hylo.biz/how-has-fintech-improved-the-business-lending-system/
2. Invoice discounting : https://hylo.biz/hylobiz-what-is-invoice-discounting/
Hylobiz backs up women entrepreneurs and professionals in India
Hylobiz believes in the determination and strength of every woman.
All professionals working with Hylobiz (which is mostly a digital voyage), are encouraged to follow their passion. They find the scope to upskill themselves and work in unison to render and ensure world-class efficiency at every level. Women in the Hylobiz workforce are breaking the stereotypes with a supportive environment that is conducive to their personal and professional journey.
We would love to have more women in our workforce.
The same spirit of equality transcends to the small businesswomen.
Women in business rub their shoulders with Hylobiz to create their own way. Some of our top engaged women clients include:
Founder, Easy Busy Box
Devanshi and Shyamli
Founder, Anvi Earth
Hylobiz supports women entrepreneurs, and you need to visit our website page to know about what our women entrepreneurs say, to break the stereotypes and see a steady growth with us. Visit: https://hylo.biz/breakthebiaseveryday/
We have an exciting offer for women entrepreneurs. A woman entrepreneur who onboards Hylobiz will get double the credits as a gesture for the onboarding.
Hylobiz celebrated international women’s day 2022 by encouraging and supporting self-made women entrepreneurs to #BreakTheBias and grow their businesses. An unbiased and inclusive society cannot be built in a day, and we need to collectively #BreakTheBiasEveryday. We were live on Facebook.
So why wait? Register on Hylobiz and grab the offer!
You can get access to automated reconciliations, reports, cash flow visibility in real-time, and improved invoice payments and collections. You can also build your web presence with our digital storefront and make better business decisions with automated reports and real time dashboard.
We also encourage the strength of allyship. Any business can refer a woman’s entrepreneurial business to Hylobiz and forge the incubation of possibility collectively with us.
Do you want to refer your friend?
Your friend needs your support to reach us.
If interested, you may write to us at firstname.lastname@example.org
Contact us at: https://hylo.biz/contactus/