Are you a female entrepreneur or do you aspire to be one? Do you know a woman who aspires to be a successful entrepreneur? If so, this is the article for you.
Overview:
List of Government Schemes for Female Entrepreneurs in India. Explore the vibrant landscape of Women Entrepreneurship in India with our insightful journey into female-led businesses. From tech startups to traditional enterprises, discover how women entrepreneurs are reshaping industries. This narrative not only celebrates their resilience but also emphasizes the transformative impact of Women Entrepreneurship on India’s economic ecosystem. Join us in understanding the role of supportive policies and mentorship programs, making Women Entrepreneurship a strategic imperative for sustainable development. Delve into inspiring stories, overcoming challenges, and championing the spirit of Women Entrepreneurship, where innovation meets determination, shaping the future of Indian business.”
Now let’s discuss the 8 List of Government Schemes for Female Entrepreneurs that Smash The Glass Ceiling.
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Mudra Yojana:
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- A government initiative aimed at promoting entrepreneurship and providing financial support to micro and small enterprises, with a special focus on women entrepreneurs.
- Mudra loans for women come with easy terms, no collateral for loans up to ₹10 lakhs and lower interest rates.
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Stand-Up India Scheme:
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- This scheme promotes entrepreneurship among women and marginalized communities by providing bank loans for the establishment of greenfield businesses. At least one scheduled caste (SC) or scheduled tribe borrower and one woman per bank branch are targeted. Loans range from ₹10 lakhs to ₹1 crore.
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Mahila Coir Yojana:
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- Empower women through skill development training and provide spinning equipment at reduced prices.
- Women entrepreneurs can receive a subsidy of up to 75% of the cost of COIR processing equipment, along with a margin money subsidy of up to 25% of the project cost.
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Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE):
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- Offers collateral-free financing to micro and small enterprises. The scheme, managed by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), provides credit facilities up to ₹200 lakh per eligible borrower. Women-operated and/or owned enterprises receive a guarantee cover of 85%.
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Prime Minister’s Employment Generation Programme (PMEGP):
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- Aimed at generating employment opportunities by promoting micro-enterprises. The scheme provides financial assistance for setting up new ventures and expanding existing ones. Women entrepreneurs can benefit from this initiative.
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Udyam Shakti Portal:
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- Launched by the Ministry of MSME, it supports social entrepreneurship by offering assistance with business planning, incubation facilities, training programs, mentorship, and market research. Projects with a maximum cost of ₹25 lakhs, including ₹10 lakhs for service-based projects, are eligible.
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Economic Empowerment of Women Enterprises and Start-up by Women:
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- A Ministry of Skill Development and Entrepreneurs scheme providing an incubation and acceleration program for female micro-entrepreneurs. It aims to launch new businesses and scale up existing ones, currently operational in states like Assam, Rajasthan, and Telangana.
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Trade-Related Entrepreneurship Assistance and Development (TREAD):
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- Designed to economically empower women by providing finance, training, development, and counseling. Non-Governmental Organizations (NGOs) receive assistance in the form of a grant from the Government of India, up to 30% of the total project cost, to promote entrepreneurship among women.
The Bottom Line
While women-owned businesses generate 8-10% more revenue than male-owned businesses of the same age in the same industries, only 5% of women-owned businesses receive venture capitalist funding, compared to 77 percent of male-owned businesses, and it is this gap that the government is attempting to close with these schemes. There has long been no doubt that women are just as capable of business success as men, but societal barriers have always been significant, and these Women Entrepreneurship programs aim to help overcome those barriers and build a stronger nation with a true free-market economy.
