All Rights Reserved Finance News 2020.
The thing that’s holding back Indian women entrepreneurs
Bengaluru: Women entrepreneurship stays restricted in India as greater than 80% of ventures are depending on household funds and restricted community for gross sales, in response to World Alliance for Mass Entrepreneurship (GAME), an affiliation of micro, small and medium enterprises.
Greater than 80% of women entrepreneurs run solo ventures and about 86% such women-owned companies are self-funded, GAME mentioned in a latest examine. The examine additionally revealed that funds raised by all-female founding groups in India stood at 0.63% of the whole $13 billion raised, whereas women entrepreneurs contribute solely 3.09% of India’s complete industrial output. Women-led entrepreneurs function throughout 4 excessive potential sectors – attire and textile; meals; well being, wellness and sweetness; and schooling.
Of the 258,000 enterprises in Bengaluru throughout these 4 sectors, a bit over 36,000 companies are owned by women and 1.5% of them obtained funds from monetary establishments, GAME mentioned, citing a number of information sources. These entrepreneurs face main challenges together with lack of entry to finance or low threat urge for food, information on advertising and marketing, digital identification and subdued demand, mentioned M Srinivas Rao, CEO, GAME.
Rao mentioned GAME has created a programme to mentor such women founders and has not too long ago began serving to 150 of them in areas corresponding to financing to making a model. In accordance with GAME, a majority of the solopreneurs discover it troublesome to get to a market and sometimes promote inside their restricted networks, thereby proscribing development alternatives.