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Women - from the terminology we know "is the embodiment of strength who never gives up". We as women always taught to face the world by implementing adeptness to a various situation that we face in our everyday life. As women, like other sex, we too wish to earn on our own and be a woman of business. Nowadays irrespective of the class structure and geological location women of every stratum wish to establish themselves in the fields of their desire. Having said that, with this article, we'll readdress the highest government initiatives which will be leveraged to line up and grow your business as a female entrepreneur.
3 .Dena Shakti Scheme: The loan scheme is proficiently designed for those women who make a business out of manufacturing goods and agricultural works.
4.Udyogini Scheme: No assets yet desire to set up your own business? Udyogini Scheme aims to promote financial empowerment and self-reliance among women by providing loans at a subsidised rate of interest. For instance, if your income is below Rs. 1.5 lakhs once a year you can avail of this loan.
5.Cent Kalyani Scheme: This scheme is targeted to all SME's here the scheme loans up to Rs.100 lakhs without posing for any collateral or processing fees. While the specific significance is given to every women entrepreneur who ventures into retail trade, academic or training institutions.
6.Mahila Udyam Nidhi Scheme: Launched by Punjab commercial bank and is geared towards supporting Small Scale Industries (SSI). The main goal is to market modernisation and technological advancement in these small scale industries by providing hassle-free loans. Where the limit for the loan is Rs. 10 lakhs and therefore the borrower gets 10 years to repay the loan. Which includes a moratorium period of up to five years.
7.Women Entrepreneurship Platform (WEP): The government of India through NITI Aayog has started an initiative called the ladies Entrepreneurship platform that brings together the ladies entrepreneurs and sponsors willing to support them in one place. Women Entrepreneurs who are at the ideation stage in their startup's journey can register under the scheme to avail of its benefits.
8.Stree Shakti Scheme: This scheme is women-centric, introduced by the central government is under the flagship of the depository financial institution of India. It is custom made for aspiring women business makers, this scheme also covers those women entrepreneurs who have a shared capital of 51% as partners, shareholders or directors of a personal company.
9. Annapurna Scheme: This scheme is furnished for women within the food catering industry, still establishing their small scale businesses. The loan allows these women entrepreneurs to avail it as capital requirements like buying equipment and utensils, fixing trucks, etc. Under this scheme, women can sell packed food items and snacks which is one of the foremost common businesses that ladies entrepreneurs scope out.
10.Orient Mahila Vikas Yojana Scheme: This scheme is for ladies who hold 51% share capital separately or collectively as a proprietary concern. This scheme doesn't require collateral security while also giving a concession at the rate of interest of up to twenty. The amount of repayment is flexible up to 7 years and therefore the loan limit is Rs. 25 Lakhs.
As per the statistical data, the government is trying to bridge the gap with these schemes between women-owned businesses shows revenues of between 8-10% quite male-owned businesses of an equivalent age within the same industries, only 5% of women-owned businesses get funding from venture capitalists as against a whopping 77% of male-owned businesses.
So on this International Women’s Day, 2021, team Online Legal India™ wishes women every woman around the world more power and independence. This is not unknown that a nation flourishes by empowering women, we wish women a blissful Women’s Day so that they rise through the ranks of success while leaving an imprint on society.