There is a lot of new medium and small-scale business in India. In fact, I see this new trend in youngsters of leaving their jobs and starting their own ventures. But the question is – are there enough women in the MSME business in India? As a mompreneur myself, I come across so many women/moms who are running successful medium and small-scale ventures. It’s surely very encouraging to see them successfully handling the business. But what is the right ratio when it comes to women led or men led businesses in our country?
The number of MSME businesses led by women in India has jumped from 2.15 lakh to 1.23 crores in FY21 according to the MSME ministry FY11 report. (1) Although it’s a good jump in 10 years but is it really enough?
Reasons for the low share of women in MSME business-
It’s true that many women have come out and made a name for themselves in the business world lately but actual numbers show the reality. There is still a marked difference between men and women-led businesses.
I run a series called Creative Moms on my blog in which I feature moms from different creative fields. In this series, we have already interviewed almost 100 moms who are running medium and small businesses. Although most of them are happy with what they are doing, they look out for different opportunities to grow.
I am sharing a few reasons from my interaction with other women entrepreneurs for not growing –
- Lack of financial knowledge.
- Not enough family support/nobody to look after children
- Low confidence in taking things forward
- Lack of network or support group
- Low risk-taking ability
Opportunities for women in MSME business in India –
Not many women are aware but there are a lot of government schemes available to help them. Financial literacy is important along with factors like a good social media presence and overall awareness.
Here are a few government schemes available for women in the MSME business in India. These schemes help women by not only providing financial support through loans but also helping to improve their social and economic conditions. (2)
- Stree Shakti
- Bhartiya mahila business bank loan
- Mudra yojana scheme
- Dena Shakti
- Mahila Udyam Nidhi
- Pradhan Mantri rozgar Yojna
- Udyogini scheme
Although there are many women who are trying to establish themselves as entrepreneurs, there are many who have already broken the glass ceiling. A very recent example is Falguni Nayar, the founder, and CEO of E-commerce platform Nykaa. Her story is a true example of how a woman can achieve anything if she gets the right education, resources, and networking. There are many more women like her in the past who are an inspiration for those who want to start their own ventures.
You can look at these names for inspiration and guidance.
Kiran Mazumdar Shaw – Founder of Biocon Limited
Malini Agarwal – Founder and director of Miss Malani
Radhika Ghai Agarwal – Founder and CMO of Shopclues
Richa Kar – Cofounder of Zivame
Sairee Chahal – Founder of Sheroes
Shenanz Hussain – Founder of Shahnaz Hussain herbals
These are a few names but there are many like these who carved a niche for themselves in the business world in India. If you look at their stories, they faced a lot of challenges too but came out as winners. So, hard work, determination, and the right guidance are important for women in MSME sectors in India.
Ecommerce and enterprenuership –
If you look at the above examples, you can see how most of the businesses are Ecommerce based. I believe it is the game changer. Women can make use of Ecommerce to launch their small and medium sized ventures. The best part is that f you know the nitty grittys, its nor very expensive to launch and neither difficult to handle.
So, if you are waiting to take the plunge, make sure you do your research and avail the right opportunities as there are many. Make sure you avail the benefits of governmnet schemes, network right and take guidance from the right people.
As someone who became a mompreneur 5 years back, I love everything about my work. I remember taking that first step and there’s been no looking back after that. There is a difference between thinking of starting a business and finally starting it. It’s all about taking the first step and giving it your best. Although it might take you years if you are good, you will achieve the goal.
Written as part of Blogchatter’s campaign #ECommerceInnovation. Read more posts in the campaign here.