10 Financial schemes and policies you need to know if you are a Woman Entrepreneur in India

Women of today’s times do multitasking by managing their house as well as building a career for themselves. There so many talented women entrepreneurs who are running businesses in small and medium scale and have become successful.

Are you one such woman who is looking for financial support to grow your business? Then this one’s for you. To encourage women entrepreneurs of India, our government has made various schemes available for you. Our government is financially supporting women to start a venture in all sectors and develop their leadership skills through various programs.

In this post, we share with you about major financial schemes offered for the development of women entrepreneurship.

What is Women Entrepreneurship?

When women move forward, their family moves, their village moves and their nation also moves forward ahead. According to the Government of India, they define women entrepreneurship as “An Enterprise owned and controlled by women having a minimum financial interest of 51% of the capital and giving 51% of the employment generated in the enterprise to women”.

In simple words, it is said that, A woman or a group of women who initiate, organize and operate business enterprises are called women entrepreneurs.

Government Schemes for Women:

Here are some of the available government schemes for Financially supporting women entrepreneurs:

  1. Trade Related Entrepreneurship assistance and development scheme for women (TREAD)
  2. Orient Mahila Vikas Yojana
  3. Mudra Yojana Scheme
  4. Annapurna Scheme
  5. Bhartiya Mahila Business Bank Loan
  6. Stree Shakti Package for Women Entrepreneurs
  7. Dena sakthi Scheme
  8. Udyogini Scheme
  9. Cent Kalyani Scheme
  10. Mahila Udyam Nidhi Scheme

1. Trade Related Entrepreneurship assistance and development scheme for women (TREAD):

This scheme aims to provide empowerment to women by giving them credits to their projects, conducting training, counselling and other related needs. This scheme provides for a government to grant up to 30% of the total project cost as appraised by lending institutions. And these lending institutions would finance the remaining 70% as loan assistance to applicant women.

2. Orient Mahila Vikas Yojana:

This scheme is available for women entrepreneurs to start up small-scale business-like spinning, knitting, handlooms, handicrafts etc. they can avail loan up to Rs.25 Lakhs and repay them back within 7 Years with rate of interest 2%.

3. Mudra Yojana Scheme:

Women who want to start a parlor as in beauty parlor, tuition center and tailoring units like a small garment etc. can avail loans from Rs 50,000 to 50 Lakhs.

4. Annapurna Scheme:

This scheme is for women who wanted to start food catering units. And they can avail loan up to Rs 50,000 to purchase their kitchen equipment and other equipment required. And they can pay their loan in 36 installments.

5. Bharatiya Mahila Bank:

This bank focuses on providing finances to underprivileged women who wanted to start their own business. They merged with SBI in 2017 and started to give loans up to 20 Crores for meeting their capital requirement, Business expansion and their related manufacturing units. They also offer 0.25% of concession in their interests.

6. Stree Shakti Package:

This package is for women who have ownership more than 50% in their business. They provide concession of 0.05% in interests for loans availed more than 2 Lakhs.

7. Dena Shakti Scheme:

This scheme provides women entrepreneurs who want to make business out of manufacturing goods and agricultural works. They can avail up to Rs 50,000 to 20 Lakhs. And also, they are offered a concession of 0.25% in their interest.

8. Udyogini Scheme:

Women Entrepreneurs between ages 18 to 45 Years involved in agriculture, retail and other small-scale business can avail loans up to Rs 1 lakh provided her family’s income should be below Rs. 45,000 per month. However, there are no limits for widowed or disabled women.

9. Cent Kalyani Scheme:

Offered by the central bank of India for business owners in multiple areas like agricultural work or retail Trading. They offer loans up to Rs. 1 Crore with no collateral or guarantors required and interest rates depend on their market rates.

10. Mahila Udyam Nidhi Scheme:

This scheme is offered by SIDBI which provides financial assistance up to Rs. 10 Lakhs which has to be repaid within 10 years.

Having said about all the financial schemes available for women entrepreneurs in India, we would like to say that, through various schemes and incentives our Indian Government has created a strong support to take care of growing women Entrepreneurs. So, Visit their official sites, get to understand the scheme better and make use of the schemes available for your business. Grow your business and shine in the world of entrepreneurship.

Written by: 

Iswarya.S.J – Content writer Intern at WOI – womenpreneursofindia.com

To read  stories of Inspiring Womenpreneurs click here. For more updates on WOI follow us on Facebook , Instagram. If you are a woman entrepreneur and like to be featured on WOI, reach us here

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