Women Entrepreneurship Forum and TransUnion Credit Information Bureau (India) Limited have launched the Human Resource Empowerment Society Program / Scheme to empower women entrepreneurs in India. The program aims to increase awareness among women entrepreneurs about finance, access to credit and management and provide them with the necessary resources and tools for this. Women Entrepreneurship Forum (WEP) focuses on convergence and collaboration with existing stakeholders, providing continuous support to women entrepreneurs through various interventions. The SEHER program was launched by Smt. Anna Roy, Mission Director of Women Entrepreneurship Forum (WEP) and Principal Economic Advisor, NITI Aayog.
Current Status of Women in Business in India
Women in India are increasing in terms of business ownership. Here are some important facts related to the current status of women in business in India –
Women Ownership in MSME Sector
- There are 63 million micro, small and medium enterprises (MSMEs) in India, of which about 20% are owned by women.
- These enterprises provide employment to 27 million people.
Demand for Business Loans
- The demand for business loans by women has increased by 3.9 times in the last 5 years (2019 to 2024).
- Between FY 2019 and 2024, the share of women borrowers has increased by 10%.
Ownership in Urban and Rural Areas
- The share of women-owned enterprises in rural areas is higher (22.24%) than in urban areas (18.42%).
- This increase is a sign of positive change in women’s entrepreneurship and encourages them to move forward. Key Facts about Women Entrepreneurship Platform (WEP).
- Women Entrepreneurship Platform (WEP) was launched by NITI Aayog in 2018 and converted to Public-Private Partnership (PPP) in 2022. It aims to provide support to women entrepreneurs in India and create an enabling environment.
Objectives and Scope
- Entrepreneurship Promotion: Women Entrepreneurship Platform (WEP) helps women entrepreneurs to start and grow businesses.
- Ensuring easy access to financial resources: Ensures easy access to financial resources.
- Establishing market linkages: Helps women entrepreneurs connect to the market.
- Promoting training and skill development: This scheme promotes business skills and knowledge to women.
- Providing counselling and networking opportunities: Provides counselling services and networking opportunities.
- Providing services related to business development: Provides services required to develop the business.
Key Objectives of SEHER Scheme
- Providing financial literacy to women: Educate women on financial topics, including their CIBIL rank and commercial credit report.
- Providing business skills: This scheme includes providing resources and training to help women manage and grow their business.
- Ensuring easy access to finance: This scheme helps women understand how they can effectively access and manage credit.
- Role of Women Entrepreneurship Platform (WEP): WEP (Women Entrepreneurship Platform) is a public-private partnership platform developed by NITI Aayog. It aims to create an ecosystem that supports women entrepreneurs.
- Role of TransUnion CIBIL: It provides financial information and credit information, aimed at improving the financial skills of women entrepreneurs.
Contribution and Impact of Sehar Programme/Scheme
- MSME Sector: According to the Ministry of MSME, India has 63 million micro, small and medium enterprises, of which 20.5% are women-owned.
- Employment Generation: These women-owned enterprises under the scheme provide employment to 27 million people.
- Divide between rural and urban enterprises: The share of women-owned enterprises in rural areas (22.24%) is slightly higher than in urban areas (18.42%).
- Contribution to the economy: By accelerating women’s entrepreneurship, India can create more than 30 million new women-owned enterprises, potentially creating 150 to 170 million more jobs.