In today’s world starting own business is rapidly increasing with the support of advanced technology and education to the peoples.
Those who dream to start their own way of business in every sector present in the country.
Creating their own brand will become trend among the citizens of the country.
In olden days initiating business start-up will be more difficult for both men and women to stand their product or idea in the market.
After certain period goes the business entrepreneur in the country will be mostly male compared to female.
But nowadays women were coming up with different ideas and concept for the existing business in the market to scale up their business in a higher way not only in the part of operation in the company run by others.
Women Entrepreneurship become slowly increasing in various fields with some really creative ideas. But the problem they face nothing but the initial capital for their start-up.
For that kind of women entrepreneur who were stuck with their exceptional ideas because lack of financial support from their family.
Government has come up with some supportive schemes for those who need to explore their ideas in the market for the betterment of the society.
Here is the list of schemes they offer for the aspiring women entrepreneur in the country according to their needs.
1.Dena Shakti Scheme:
The Dena Shakti Scheme is meant for financial support of female entrepreneurs where a loan amount of up to Rs.20 lakhs can be availed for horticulture, retail exchange, education, and housing.
An interest rate of 0.25% is fixed below base rates for women entrepreneurs who are majority stakeholders in the company, and loan repayment for the credit is 7 years.
Other than that, a micro-credit of up to Rs.50,000 can also be availed under micro-credit schemes.
Loan applications can be made by filling out an application form and submitting the necessary documents at any Dena bank office.
2.Mahaila Udyam Nidhi Scheme:
The government, through the Small Industrial Development Bank of India (Sidi), introduced this scheme to engage women entrepreneurs and give them the cash flow to maintain their businesses.
The cash provided under this plan can be used in the
- Production areas.
Under this plan, businesswomen can get a credit of up to Rs.10,00,000 for starting a small business.
The loan will have to be repaid in ten years, and there is a moratorium period of five years.
This help will provided under this plan can be used to expand a business as well.
3.Stree Shakti Scheme:
The Stree Shakti Scheme is an initiative by the State Bank of India (SBI) for women entrepreneurs.
The scheme aims to empower women entrepreneurs who own and manage retail trade, business enterprises of professional and self -employed like doctors, beauty parlour operators etc.
The main criteria SBI looks for is that the enterprise should have more than 50 percent of its share capital owned by women.
A loan amount of up to Rs.20 lakhs can be availed from banks with working capital and term loan facility under this scheme.
A concession of 0.50 percent on the interest cost is given by the bank on credits of more than Rs.2 lakhs.
Security is not mandatory for credits of up to Rs.5 lakhs.
4.Udyogini Scheme :
The word ‘Yogini’ means woman entrepreneur. So this scheme named as like this for the aspiring women who dream to start up their new venture.
Although the program was initially begun by the Karnataka State Women Development Corporation;
The Indian government’s Yogini Scheme was launched under the Women Development Corporation, and it encourages poor women entrepreneurs to receive financial support to start a business.
Women between the ages of 18 and 45 and whose annual family income is Rs. 45,000 or less can avail up to Rs.1 lakh, under the scheme.
However, there is no such cut off for women who are incapacitated, destitute, or widows.
Furthermore, women from the SC/ST category will get an allowance of 30 percent of the advance sum or Rs.10,000, whichever is lower.
However, women from the general category can get an allowance of
Rs.7,500 or 20 percent of the credit sum, whichever is lower.
Many banks have carried out this scheme under various variations.
5.Bharatiya Mahila Scheme:
Bharatiya Mahila Bank commercial loan is for budding business women who want to start a new business in real estate or a small and medium enterprise (SME) in retail.
Female entrepreneurs are given a highest loan amount of up to Rs. 20 crores. A discount of 0.25 percent can be additionally availed on this business loan scheme.
The interest rate on this loan sum is normally 10.15 percent or more.
There is also the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), launched by the government to make collateral-free credit available to the micro and small enterprise sector,
Where there is no requirement for collateral security for a loan of up to Rs.1 crore.
In this scheme, credits up to Rs.20 crores can be approved for manufacturing enterprises driven by women.
The loan is to be repaid within seven years and comes with specific elasticity.
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