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Maiden Magnates
An Analysis of India’s Free-Spirited Women Entrepreneurs
Table of Content
STATS SPEAK
CHALLENGES AND OPPORTUNITIES
THE IMPETUS
FROM GRASSROOTS TO TOP-SHOOTS
IN FOCUS
•	 Statistical Analysis of Businesswomen in Rural India
•	 Statistical Analysis of Businesswomen in Urban India
•	 Why India Fails at Providing Women-Conducive Business Environment to Females?
•	 The Grit it Takes to Call the Shots in a Man’s World
•	 Government Led Business Financing Initiatives for Women Entrepreneurs
•	 Entrepreneurial Development Programs (EDP) for Women
•	 Women Entrepreneurs Who are Improving the Picture of Rustic India
•	 Feisty Females Who are Ruling the Country’s Service Circuit
•	 Women Entrepreneurs Who Made it Big in the Business World
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5
7
9
10
13
16
17
18
A
BC
D
E
F
G
STATS SPEAK
Why Women Get Into Business?
India country’s economy still lies developing at a rapid pace, but a large part of the country’s economy is still lies in the under-developed rural areas. Owing to
the low literacy rate of women in Indian villages, they are intrinsically expected to restrain their scope till family affairs only. However, today liberal women of
rural India are breaking free from their traditional roles, and exploring the bubbling world of possibilities. Entrepreneurship is one domain that attracts the
attention of a majority of females in villages. There are a number of reasons that steadily drive them to explore the ever expanding business avenues.
Stats here showcase the varied facets of entrepreneurship amongst rural Indian women.
Statistical Analysis of Businesswomen in Rural India
A	 Economic Growth – 31%
B	 Improve Standard of Living – 22%
C	 Growth in Literacy Rate – 17%
D	 Social Synergy – 11%
E	 Financial Independence – 9%
F	 Decision Making Capability – 7%
G	 Social Security + Identity of Authority by Male + Awareness on Equal Rights – 3%
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A
B
C
D
E
F
A
B
C
D
E
F
Challenges Faced
Ways of Winning Over the Barriers
Source: IOSR Journal Of Humanities And Social Science
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A	 Gender Difference + Inequality of Rights – 29%
B	 Communication + Education + Transportation – 25%
C	 High Tax Rate + Limited Scope for Financial Activities – 17%
D	 Superstitious Beliefs – 11%
E	 Services on Business Development + Inadequacy of Business Knowledge - 10%
F	 Lack of Proper Infrastructure – 8%
	 Government Activities – 41%
	 A	 Schemes Related to Social Security – 21%
	 B	 Policy of Decision Making – 14%
	 C	 Assistance in Marketing and Sales – 6%
D	 Education + Networking Between Rural and Urban Area + Infrastructure + Occupational 	
	 health Training + Safety – 28%
E	 Counseling Related to Gender Equality + Family Priority + Superstition – 22%
F	 Holistic Approach + Coordination Among Provider of Business Development Service – 9%
Why Women Get Into Business?
The new generation of Indian women living in the urban sector believe in being at par with men in every sphere of lives. Breaking all the stereotypes against
their gender, women today are increasingly engaging in entrepreneurial activities. Excelling in every field, women are making it big into the business world,
thereby increasing family’s standard of living, and also lending a helping hand to the bread earner of the family.
Statistical Analysis of Businesswomen in Urban India
Barriers Faced
A	 Self-accomplishment – 25.53%
B	 Being their Own Boss – 13.48%
C	 Financial Prosperity – 4.97%
D	 Persist Passion – 26.95%
E	 Work Out a Problem – 6.38%
F	 Others – 22.69%
A	 Introductory Capital – 19.83%
B	 Inadequate Information – 23.28%
C	 Finding Appropriate Connections – 29.31%
D	 Balancing Professional and Personal Life – 12.93%
E	 Under-confidence – 12.07%
F	 Others - 0.86%
G	 No Obstacles – 1.72%
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A
A
G
B
C
D
E
F
B
CD
E
F
Popular Domains
Academic Qualifications
Cities Ruled by Women
Entrepreneurs
A	 Services – 41.28%
B	 E-Commerce – 10.91%
C	 Clean Tech – 3.64%
D	 Energy – 1.82%
E	 Education – 5.45%
F	 Consumer Web – 9.09%
G	 Mobile Apps – 7.27%
H	 Travel – 1.82%
I	 Finance – 3.64%
J	 Enterprise – 5.45%
K	 Healthcare – 7.27%
L	 Social – 1.82%
A	 Post Graduate Degree or 	
	 Higher – 58.18%
B	 Undergraduate Degree (In 	
	 Engineering) – 18.18%
C	 Undergraduate Degree (In 	
	 Other Fields) – 23.64%
A	 Bangalore – 47.27%
B	 Delhi – 25.45%
C	 Mumbai – 14.55%
D	 Pune – 1.82%
E	 Rest – 10.91%
Source: A Study by YourStory
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A A
A
B
C
E
B
C
BCD
E
F
G
H
I
J
K
L
D
CHALLENGES AND OPPORTUNITIES
The emergence of women entrepreneurs in India is certainly a matter of pride for the country, but there is still a long way to go for them. According to The
2015 Female Entrepreneurship Index by The Global Entrepreneurship and Development Institute (GEDI), United States ranks at number 1, whereas India ranks
as low as number 70. The big question here is why such a huge gap?
In India, entrepreneurship is traditionally considered to be a male thing.
Society still does not wholeheartedly approve women to become self-
employed or take entrepreneurship for their livelihood. This is probably
one of the significant causes that have deterred female entrepreneurship in
India. A woman entrepreneur is believed to be stuck in a tussle between her
domestic chores and business activities. Since handling house-hold activities
is considered to be an Indian woman’s forte and primary task, women getting
into entrepreneurship is not highly acknowledged in India.
Why India Fails at Providing Women-Conducive Business Environment to Females?
Prevalence of Age-Old Patriarchal Norms
The huge gap in the entrepreneurship ranking is because there are issues unique to our country’s sociocultural dynamics that hinder the growth of female
entrepreneurs. Kick-starting a business is not an easy task, and it is certainly not easy for women in India. Our country predominantly being a male dominated
society, offers little to nurture the leadership skills of females. Some of the challenges faced by females aspiring to start a business in India are:
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Reluctance of Financial
Institutions in Funding
Women-Businesses
No or Limited Access to
Education
Low Access to Key
Resources
Banks and other financial institutions
generally do not see potential in female-
owned businesses. Even private investors
are not very interested in providing
financial assistance to them. This is
mainly because there is a general notion
that women entrepreneurs are not so
gifted with entrepreneurial aptitude and
managerial skills as compared to their male
counterparts. As a result, their access to
business credit facilities is very limited. The
funding landscape is still not very conducive
for women businesses.
A great percentage of the female
entrepreneurs in India are still illiterate or
semi-literate. Most of them are based in
rural areas where they have limited access to
education due to poor economic background
or outdated family beliefs. This eventually
leads to lesser number of educated female
entrepreneurs in the country. Even those
who are literate are not very well-equipped
with advanced degrees / diplomas in
business or entrepreneurship unlike female
entrepreneurs of western countries.
In India, women entrepreneurs encounter
the shortage of key resources for their
businesses. Notably many women-owned
businesses cease to operate after a year
or two due to lack of adequate resources
especially in rural areas. Besides, high cost of
production is also detrimental to the success
of female businesses.
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Women entrepreneurs can achieve success if only they believe in their gut instincts and defy all the
traditional stereotypes. They need to adopt the right approach coupled with the required skill-set to succeed
because after all, it’s just about a bit of determination and courage that makes all the difference.
The Grit it Takes to Call the Shots in a Man’s World
Adaptive Attitude
Business is a dynamic concept, more
so in today’s world. The present-day
entrepreneurship doesn’t allow you to
be rigid or orthodox. You need to comply
with the changes going around and at
the same time, devise new innovations
to reach the zenith. Of course, you need
to have a specific blueprint for your
business, but following it religiously is
not advisable as entrepreneurship is a
continuous learning process.
Phlegmatic Approach
As an entrepreneur, you need to have a
stolid temperament no matter what the
circumstances are. If you are a female
entrepreneur then it is more applicable
for you as you will always be judged on
gender-based prejudices. You need to
ditch your worries and emotional stress
as they end up preventing you from
taking bolder steps.
Command Authority
You need to show authority in business
but, without mixing it with arrogance
and aggression. Basically, it’s all about
justifying your position and using your
power for the interest of your business.
A non-authoritative approach can lead to
complacency that might eventually derail
your entrepreneurial growth.
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THE IMPETUS
With an objective of empowering women entrepreneurship in India, the government has introduced some notable loan
schemes. These schemes can suffice the financial requirements of female-owned MSMEs (Micro, Small and Medium
Enterprises) based in various parts of the country.
Objective:
Maximum Quantum
of Loan:
Eligibility:
Repayment Options:
Concession:
To help female entrepreneurs establish their businesses by offering certain
concessions on loan products.
Based on requirement.
•	 More than 50% of the enterprise’s shareholding should be under females.
•	 Should be attendants of Entrepreneurship Development Programmes (EDPs)
that have been organized by state level agencies.
•	 Working capital loan for a period of 1 year.
•	 Term loan - 84 months.
•	 An interest concession of 0.50% on a loan of INR 2 lac and above.
•	 No security for loans up to INR 5 lac (Only for micro business units).
Government Led Business Financing Initiatives for Women Entrepreneurs
Stree Shakthi Package
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Objective:
Maximum
Quantum of
Loan:
Purpose:
Repayment
Options:
Guarantee:
Rate of
Interest:
Type of Loan:
Objective:
Maximum
Quantum of
Loan:
Eligibility:
Purpose:
Repayment
Options:
Type of Loan:
Guarantee:
Assisting women in establishing
a food catering entity.
INR 50,000.
To purchase utensils and other
kitchen equipment.
36 Monthly installments
(which includes a one month
moratorium period).
A guarantor is required for
securing the loan.
In accordance with the current
rate.
Composite term loan.
Help women entrepreneur
set-up new business ventures
or expand their existing
businesses.
INR 1 crore.
Women entrepreneurs above 18
years of age.
For sufficing capital expenditure
or for daily expenses.
•	 Working capital - on
demand.
•	 Term loan- Maximum
of 7 years (inclusive of
moratorium period of 6
Months to 1 year)
Term Loan.
No third-party guarantee
required.
Annapurna Scheme Cent Kalyani Scheme
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Objective:
Purpose:
Maximum
Quantum of
Loan:
Rate of
Interest:
Concession:
Objective:
Maximum
Quantum of
Loan:
Repayment
Options:
Providing financial assistance to
women entrepreneurs.
Can be used by women interested
in retail trade, education,
agriculture and allied activities,
small enterprises, micro credit or
housing.
•	 Retail trade, housing, and
education - INR 20 lac.
•	 Micro credit - INR 50,000.
Subject to change as per the
guidelines of the bank.
Rebate of 0.25% on interest rate
for women who fall under the
criteria stated by the bank.
Benefiting women willing
to engage in new business
ventures (except road and
transport industry).
INR 10 Lac per project
(for new projects + for
enhancing existing
projects).
10 years (for soft loan,
including a period
of 5 years as initial
moratorium period).
Dena Shakti Scheme Mahila Udyam Nidhi Scheme
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One of the most effective and appreciative government initiatives that has been taken to encourage female entrepreneurship is the introduction of Entrepreneurial
Development Programs (EDPs). These programmes have aided women entrepreneurs to learn various nuances of business, and helped channelize their abilities
into action accordingly.
Entrepreneurial Development Programs (EDP) for Women
Trade Related Entrepreneurship Assistance and Development (TREAD)
What is MSE-CDP?
Components:
How to Apply for
TREAD?
Trade Related Entrepreneurship Assistance and Development (TREAD) is a scheme that allows women entrepreneurs to
unleash their entrepreneurial skills and engage in non-farm activities.
Component 1:
•	 Non-Government Organisations
(NGOs) are granted 30% of
the total cost of the project by
Government of India (GoI). This
helps in promoting the spirit of
entrepreneurship among women.
•	 Remaining 70% is financed by
lending agency.
Component 2:
•	 Training institutions /
NGOs are granted INR 1
lac per programme by GoI
(Government of India). It helps
in imparting training to budding
women entrepreneurs.
Component 3:
•	 National Entrepreneurship
Development Institutions
are allotted grants up to INR
5 lac based on their needs.
Applicable for research study
and field surveys too.
Step 1:
Women Associations
/ NGOs / SHGs need
to prepare compound
proposal for female
entrepreneurs.
Step 2:
The proposal needs to be
submitted to the DC (MSME)
office.
Step 3:	
The proposal is examined
and approval is issued.
Step 4:	
30% of the amount
approved is sanctioned
by DC (MSME), and is later
dispensed to NGOs.
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Micro and Small Enterprises Cluster Development Programme (MSE-CDP)
What is MSE-CDP?
Objectives:
Assistance from GoI
(Government of India) and
Cost of Project
To enhance the productivity of Micro and Small Enterprises (MSEs), cluster development approach
has been adopted by the Ministry of Micro, Small and Medium Enterprises. By clustering the units,
enterprises can benefit easily from service providers.
•	 To focus on the growth of MSEs by bringing forth issues related to skills, access to technology, capital
and market.
•	 To enhance the sufficiency of MSEs by structuring self-help groups.
•	 To boost the infrastructural competence.
•	 To make provision for common facility hubs.
•	 Diagnostic Study: INR 2.50 lac (Maximum)
•	 Soft Intervention:  INR 25 lac (Maximum). Contribution from GoI – 75%. (In cases of Special Category
States and for clusters representing more than 50% women / SC / ST /micro / village units, 90% is
granted).
•	 Hard Intervention: INR 15 crore (Maximum). Contribution from GoI – 70%. (In cases of Special
Category States and for clusters representing more than 50% women/SC/ST/micro/village units, 90%
is granted).
•	 Development of Infrastructure:  INR 10 crore (Maximum). Contribution from GoI – 60%. (In cases of
Special Category States and for clusters representing more than 50% women / SC / ST / micro / village
units, 80% is granted).
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Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE)
What is CGTMSE?
Objectives:
Eligibility:
Tenure:
Annual Guarantee Fee
(AGF)
Launched in August, 2000, CGTMSE is a scheme that helps in strengthening the system of credit delivery
and flow to the MSE sector. Easy availability of credit encourages budding entrepreneurs to set up MSEs
with greater belief.
•	 Provide collateral-free credit to MSEs.
•	 Act as a motivation for promotion of entrepreneurship.
•	 Aiding MSE sector with institutional credit flow.
•	 Bringing forth the reasons behind the restrained growth of MSE sector.
•	 Employment generation.
•	 For credit facilities up to INR 10 lac: No security shall be obtained as a collateral.
•	 For credit facilities above INR 10 lac, but under INR 100 lac: Obtainment of immediate security/
mortgage of land and building related to business. The borrower has the benefit of deciding the
coverage of loans.
•	 Term Loan: Guarantee cover is for the agreed period of term loan/composite credit.
•	 Working Capital: Guarantee cover is for 5 years.
•	 Composite all-in-one guarantee fee: 1.5% one-time fee + annual service fee of 0.75% on the total
credit facilities confirmed.
•	 For loans up to INR 5 lac: 1% one-time guarantee fee + annual fee of 0.5%.
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FROM GRASSROOTS TO TOP-SHOOTS
Born to a middle class family in 1933, Ela Bhatt
spent her childhood in an environment full of
learning. She obtained a degree in law, and
soon started working as a lawyer in the Textile
Labour Association (TLA) in Ahmedabad,
Gujarat. While working she realized that even
though women were doing labor-intensive
work, they were rather ‘invisible’. This is when
she thought that such women could grow
and register their presence with the help of
adequate funds. That thought ultimately lead
to the inception of Self Employed Women
Association (SEWA). Today SEWA provides
financial aid to women for buying solar bulbs
and then renting them out or selling them to
the families living in towns and villages. For
her exceptional contribution in the field of
labor and microfinance, Ela Bhatt has been
awarded the coveted title of Padmashri and
Ramon Magsaysay Award as well.
Thinlas Chorol, a simple girl born in
the remote village of Takmachik in
Sham region of Ladakh, is the only
female from Ladakh who has been
trained professionally in the field
of mountaineering. She studied in
SECMOL, (The Students’ Educational
and Cultural Movement of Ladakh).
While at SECMOL, she joined ‘Around
Ladakh with Students’ (ALS), a travel
agency owned by SECMOL. She
observed that women were extremely
low on confidence, and this is why
very few of them were willing to work
as a trekking guide. With an aim of
developing a society where women
could choose mountaineering as a
career and earn their livelihood, she
established Ladakhi Women’s Travel
Company in 2009.
Born in Mumbai, Chetna Gala Sinha holds a
master’s degree in Commerce and Economics,
and is the founder of Mann Deshi Mahila
Sahakari Bank. Her entrepreneurial journey
began when it was brought to her notice
that banks would not allow a woman to open
an account, only because she was illiterate.
According to Chetna, “Just because a woman
doesn’t know how to read doesn’t imply
that she can’t manage her money.” After
a lot of hard work, her dream of opening a
bank came true in 1997. Furthermore, in
2007, she established the Udyogini Business
School in collaboration with HSBC. Chetna
has been honored with prestigious awards
like Entrepreneurship Development Award,
Godfrey Phillips Bravery Amodini Award,
Rani Laxmiibai Puraskar, and Jankidevi Bajaj
Puraskar Award for Rural Entrepreneurship
to name just a few.
Women Entrepreneurs Who are Improving the Picture of Rustic India
Ela Bhatt
Founder,SEWA
Thinlas Chorol
Founder, Ladakhi Women’s
Travel Company
Chetna Gala Sinha
Founder, Mann Deshi Mahila
Sahakari Bank
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Maiden Magnates
Born in Chennai, Indra Nooyi holds a
Bachelors degree in Science and a Post
Graduate Diploma in Management (MBA).
During the early stage of her career, she
worked at Johnson & Johnson, and Mettur
Beardsell. In 1994, she joined PepsiCo, the
second largest F&B business. Today, she is
the CFO and chairman of the company. Year
on year, she has been identified as one of the
most powerful women in the world by the
likes of Forbes and Fortune. On national level,
she has been conferred with the honorary
title of Padma Bhushan for her remarkable
contribution to the business world.
Neelam Dhawan graduated in
Economics from St. Stephen’s College,
New Delhi, and holds a Masters degree
in Business Administration from the
Faculty of Management Studies, Delhi
University. The lady is an inspiration
for all the women working in the
IT sector. She started her career in
early 80s, when not many women
were courageous enough to enter
technology sector. Before being a part
of HP, she served as the Managing
Director (MD) of Microsoft, India for
three years. Presently, she is working
as the Managing Director of Hewlett-
Packard (HP), India. Ever since she
joined HP, her focus has been on
constructing an agenda that helps
in evolving HP as one of the most
appreciated companies in the world.
Born in Jodhpur and raised in Jaipur, Chanda
Kochhar holds a degree in Bachelor of Arts.
Later she got enrolled in Cost Accountancy
ICWAI, and thereafter, obtained a Master’s
degree in Management Studies. Her journey
with Industrial Credit and Investment
Corporation of India Ltd. (ICICI) started way
back in 1984, when she joined the company
as a management trainee. Presently, she
is the MD and CEO of this reputed financial
institution. Time and again she has been
identified as the one of the most influential
women in the business world by coveted
media sources like Fortune and The Economic
Times.
Feisty Females Who are Ruling the Country’s Service Circuit
Indra Nooyi
CFO, PepsiCo
Neelam Dhawan
Managing Director, Hewlett-
Packard India
Chanda Kochhar
CEO & Managing Director,
ICICI Bank
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Maiden Magnates
IN FOCUS
Founded:
Year of
Launch:
Brand USP:
Story Behind
the Brand:
Founded:
Year of
Launch:
Brand USP:
Story Behind
the Brand:
SlideShare
2006
SlideShare allows people to share their
presentations online.
Rashmi’s brother, Amit Ranjan attended
BarCamp, a conference where a couple of
people having a mutual topic of interest
gathered and shared their thoughts and views.
When it was time for the presenters to share
the presentations, USB sticks had to be passed
across, or emails had be sent to one another.
This fragmented presentation sharing process
gave birth to the idea of building SlideShare,
an online tool where displaying presentations
would be extremely simple. With an aim of
simplifying the technological complications
that affect the web users, Rashmi along with
her husband, Jonathan Boutelle, and her
brother, Amit Ranjan built SlideShare.
Forest Essentials
2000
High quality beauty products
inheriting the property of Ayurveda.
Mira Kulkarni had her home
in Rishikesh (which is a hub of
Ayurveda), and this is why she had
complete knowledge about the
benefits of ayurveda right from an
early age. She used her expertise
on the subject and with an idea
of modernizing the traditional
ayurveda products, she created an
exotic range of beauty products
called Forest Essentials.
Women Entrepreneurs Who Made it Big in the Business World
Rashmi Sinha Mira Kulkarni
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Maiden Magnates
Founded:
Year of
Launch:
Brand USP:
Story Behind
the Brand:
Founded:
Year of
Launch:
Brand USP:
Story Behind
the Brand:
BIBA
1986
BIBA offers a wide range of aesthetically
designed ethnic apparels for women.
Mina Bindra never thought that she
would enter the world of business, but
she gave it a try and started a clothing
line, BIBA, with merely Rs.8000 which
she secured as a loan. In the initial years,
she worked just with the thought of
keeping herself occupied, but in to time,
the business expanded tremendously.
Her business was joined by her son,
Siddharath Bindra in 1997. Today,
her designing business, BIBA is a pan-
India brand and loved by one and all.
Currently, there are around 150 exclusive
BIBA outlets and 225 multi-brand outlets
in approximately 65 cities.
Baggit
1985
Baggit is one of the leading women’s
handbag brands.
‘When one door closes, another opens’
– this saying turned out to be quite true
for Nina Lekhi, the founder of Baggit. She
had excelled in academics throughout,
and she was taken aback when she got
to know that she failed in her first year
of art exams at Sophia Polytechnic.
This is when she got enrolled in interior
design and screen printing classes,
and eventually started designing and
selling canvas bags. In no time, she
realized that the Indian women had not
much explored the sector of women’s
handbags. By unleashing her creativity,
she started the brand in 1985.
Mina Bindra Nina Lekhi
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Maiden Magnates
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India's Free-Spirited Women Entrepreneurs: Stats, Challenges & Success Stories

  • 1. Powered by Maiden Magnates An Analysis of India’s Free-Spirited Women Entrepreneurs
  • 2. Table of Content STATS SPEAK CHALLENGES AND OPPORTUNITIES THE IMPETUS FROM GRASSROOTS TO TOP-SHOOTS IN FOCUS • Statistical Analysis of Businesswomen in Rural India • Statistical Analysis of Businesswomen in Urban India • Why India Fails at Providing Women-Conducive Business Environment to Females? • The Grit it Takes to Call the Shots in a Man’s World • Government Led Business Financing Initiatives for Women Entrepreneurs • Entrepreneurial Development Programs (EDP) for Women • Women Entrepreneurs Who are Improving the Picture of Rustic India • Feisty Females Who are Ruling the Country’s Service Circuit • Women Entrepreneurs Who Made it Big in the Business World 2 Powered by Biz2Credit Maiden Magnates 3 5 7 9 10 13 16 17 18
  • 3. A BC D E F G STATS SPEAK Why Women Get Into Business? India country’s economy still lies developing at a rapid pace, but a large part of the country’s economy is still lies in the under-developed rural areas. Owing to the low literacy rate of women in Indian villages, they are intrinsically expected to restrain their scope till family affairs only. However, today liberal women of rural India are breaking free from their traditional roles, and exploring the bubbling world of possibilities. Entrepreneurship is one domain that attracts the attention of a majority of females in villages. There are a number of reasons that steadily drive them to explore the ever expanding business avenues. Stats here showcase the varied facets of entrepreneurship amongst rural Indian women. Statistical Analysis of Businesswomen in Rural India A Economic Growth – 31% B Improve Standard of Living – 22% C Growth in Literacy Rate – 17% D Social Synergy – 11% E Financial Independence – 9% F Decision Making Capability – 7% G Social Security + Identity of Authority by Male + Awareness on Equal Rights – 3% 3 Powered by Biz2Credit Maiden Magnates
  • 4. A B C D E F A B C D E F Challenges Faced Ways of Winning Over the Barriers Source: IOSR Journal Of Humanities And Social Science 4 Powered by Biz2Credit Maiden Magnates A Gender Difference + Inequality of Rights – 29% B Communication + Education + Transportation – 25% C High Tax Rate + Limited Scope for Financial Activities – 17% D Superstitious Beliefs – 11% E Services on Business Development + Inadequacy of Business Knowledge - 10% F Lack of Proper Infrastructure – 8% Government Activities – 41% A Schemes Related to Social Security – 21% B Policy of Decision Making – 14% C Assistance in Marketing and Sales – 6% D Education + Networking Between Rural and Urban Area + Infrastructure + Occupational health Training + Safety – 28% E Counseling Related to Gender Equality + Family Priority + Superstition – 22% F Holistic Approach + Coordination Among Provider of Business Development Service – 9%
  • 5. Why Women Get Into Business? The new generation of Indian women living in the urban sector believe in being at par with men in every sphere of lives. Breaking all the stereotypes against their gender, women today are increasingly engaging in entrepreneurial activities. Excelling in every field, women are making it big into the business world, thereby increasing family’s standard of living, and also lending a helping hand to the bread earner of the family. Statistical Analysis of Businesswomen in Urban India Barriers Faced A Self-accomplishment – 25.53% B Being their Own Boss – 13.48% C Financial Prosperity – 4.97% D Persist Passion – 26.95% E Work Out a Problem – 6.38% F Others – 22.69% A Introductory Capital – 19.83% B Inadequate Information – 23.28% C Finding Appropriate Connections – 29.31% D Balancing Professional and Personal Life – 12.93% E Under-confidence – 12.07% F Others - 0.86% G No Obstacles – 1.72% 5 Powered by Biz2Credit Maiden Magnates A A G B C D E F B CD E F
  • 6. Popular Domains Academic Qualifications Cities Ruled by Women Entrepreneurs A Services – 41.28% B E-Commerce – 10.91% C Clean Tech – 3.64% D Energy – 1.82% E Education – 5.45% F Consumer Web – 9.09% G Mobile Apps – 7.27% H Travel – 1.82% I Finance – 3.64% J Enterprise – 5.45% K Healthcare – 7.27% L Social – 1.82% A Post Graduate Degree or Higher – 58.18% B Undergraduate Degree (In Engineering) – 18.18% C Undergraduate Degree (In Other Fields) – 23.64% A Bangalore – 47.27% B Delhi – 25.45% C Mumbai – 14.55% D Pune – 1.82% E Rest – 10.91% Source: A Study by YourStory 6 Powered by Biz2Credit Maiden Magnates A A A B C E B C BCD E F G H I J K L D
  • 7. CHALLENGES AND OPPORTUNITIES The emergence of women entrepreneurs in India is certainly a matter of pride for the country, but there is still a long way to go for them. According to The 2015 Female Entrepreneurship Index by The Global Entrepreneurship and Development Institute (GEDI), United States ranks at number 1, whereas India ranks as low as number 70. The big question here is why such a huge gap? In India, entrepreneurship is traditionally considered to be a male thing. Society still does not wholeheartedly approve women to become self- employed or take entrepreneurship for their livelihood. This is probably one of the significant causes that have deterred female entrepreneurship in India. A woman entrepreneur is believed to be stuck in a tussle between her domestic chores and business activities. Since handling house-hold activities is considered to be an Indian woman’s forte and primary task, women getting into entrepreneurship is not highly acknowledged in India. Why India Fails at Providing Women-Conducive Business Environment to Females? Prevalence of Age-Old Patriarchal Norms The huge gap in the entrepreneurship ranking is because there are issues unique to our country’s sociocultural dynamics that hinder the growth of female entrepreneurs. Kick-starting a business is not an easy task, and it is certainly not easy for women in India. Our country predominantly being a male dominated society, offers little to nurture the leadership skills of females. Some of the challenges faced by females aspiring to start a business in India are: 7 Powered by Biz2Credit Maiden Magnates
  • 8. Reluctance of Financial Institutions in Funding Women-Businesses No or Limited Access to Education Low Access to Key Resources Banks and other financial institutions generally do not see potential in female- owned businesses. Even private investors are not very interested in providing financial assistance to them. This is mainly because there is a general notion that women entrepreneurs are not so gifted with entrepreneurial aptitude and managerial skills as compared to their male counterparts. As a result, their access to business credit facilities is very limited. The funding landscape is still not very conducive for women businesses. A great percentage of the female entrepreneurs in India are still illiterate or semi-literate. Most of them are based in rural areas where they have limited access to education due to poor economic background or outdated family beliefs. This eventually leads to lesser number of educated female entrepreneurs in the country. Even those who are literate are not very well-equipped with advanced degrees / diplomas in business or entrepreneurship unlike female entrepreneurs of western countries. In India, women entrepreneurs encounter the shortage of key resources for their businesses. Notably many women-owned businesses cease to operate after a year or two due to lack of adequate resources especially in rural areas. Besides, high cost of production is also detrimental to the success of female businesses. 8 Powered by Biz2Credit Maiden Magnates
  • 9. Women entrepreneurs can achieve success if only they believe in their gut instincts and defy all the traditional stereotypes. They need to adopt the right approach coupled with the required skill-set to succeed because after all, it’s just about a bit of determination and courage that makes all the difference. The Grit it Takes to Call the Shots in a Man’s World Adaptive Attitude Business is a dynamic concept, more so in today’s world. The present-day entrepreneurship doesn’t allow you to be rigid or orthodox. You need to comply with the changes going around and at the same time, devise new innovations to reach the zenith. Of course, you need to have a specific blueprint for your business, but following it religiously is not advisable as entrepreneurship is a continuous learning process. Phlegmatic Approach As an entrepreneur, you need to have a stolid temperament no matter what the circumstances are. If you are a female entrepreneur then it is more applicable for you as you will always be judged on gender-based prejudices. You need to ditch your worries and emotional stress as they end up preventing you from taking bolder steps. Command Authority You need to show authority in business but, without mixing it with arrogance and aggression. Basically, it’s all about justifying your position and using your power for the interest of your business. A non-authoritative approach can lead to complacency that might eventually derail your entrepreneurial growth. 9 Powered by Biz2Credit Maiden Magnates
  • 10. THE IMPETUS With an objective of empowering women entrepreneurship in India, the government has introduced some notable loan schemes. These schemes can suffice the financial requirements of female-owned MSMEs (Micro, Small and Medium Enterprises) based in various parts of the country. Objective: Maximum Quantum of Loan: Eligibility: Repayment Options: Concession: To help female entrepreneurs establish their businesses by offering certain concessions on loan products. Based on requirement. • More than 50% of the enterprise’s shareholding should be under females. • Should be attendants of Entrepreneurship Development Programmes (EDPs) that have been organized by state level agencies. • Working capital loan for a period of 1 year. • Term loan - 84 months. • An interest concession of 0.50% on a loan of INR 2 lac and above. • No security for loans up to INR 5 lac (Only for micro business units). Government Led Business Financing Initiatives for Women Entrepreneurs Stree Shakthi Package 10 Powered by Biz2Credit Maiden Magnates
  • 11. Objective: Maximum Quantum of Loan: Purpose: Repayment Options: Guarantee: Rate of Interest: Type of Loan: Objective: Maximum Quantum of Loan: Eligibility: Purpose: Repayment Options: Type of Loan: Guarantee: Assisting women in establishing a food catering entity. INR 50,000. To purchase utensils and other kitchen equipment. 36 Monthly installments (which includes a one month moratorium period). A guarantor is required for securing the loan. In accordance with the current rate. Composite term loan. Help women entrepreneur set-up new business ventures or expand their existing businesses. INR 1 crore. Women entrepreneurs above 18 years of age. For sufficing capital expenditure or for daily expenses. • Working capital - on demand. • Term loan- Maximum of 7 years (inclusive of moratorium period of 6 Months to 1 year) Term Loan. No third-party guarantee required. Annapurna Scheme Cent Kalyani Scheme 11 Powered by Biz2Credit Maiden Magnates
  • 12. Objective: Purpose: Maximum Quantum of Loan: Rate of Interest: Concession: Objective: Maximum Quantum of Loan: Repayment Options: Providing financial assistance to women entrepreneurs. Can be used by women interested in retail trade, education, agriculture and allied activities, small enterprises, micro credit or housing. • Retail trade, housing, and education - INR 20 lac. • Micro credit - INR 50,000. Subject to change as per the guidelines of the bank. Rebate of 0.25% on interest rate for women who fall under the criteria stated by the bank. Benefiting women willing to engage in new business ventures (except road and transport industry). INR 10 Lac per project (for new projects + for enhancing existing projects). 10 years (for soft loan, including a period of 5 years as initial moratorium period). Dena Shakti Scheme Mahila Udyam Nidhi Scheme 12 Powered by Biz2Credit Maiden Magnates
  • 13. One of the most effective and appreciative government initiatives that has been taken to encourage female entrepreneurship is the introduction of Entrepreneurial Development Programs (EDPs). These programmes have aided women entrepreneurs to learn various nuances of business, and helped channelize their abilities into action accordingly. Entrepreneurial Development Programs (EDP) for Women Trade Related Entrepreneurship Assistance and Development (TREAD) What is MSE-CDP? Components: How to Apply for TREAD? Trade Related Entrepreneurship Assistance and Development (TREAD) is a scheme that allows women entrepreneurs to unleash their entrepreneurial skills and engage in non-farm activities. Component 1: • Non-Government Organisations (NGOs) are granted 30% of the total cost of the project by Government of India (GoI). This helps in promoting the spirit of entrepreneurship among women. • Remaining 70% is financed by lending agency. Component 2: • Training institutions / NGOs are granted INR 1 lac per programme by GoI (Government of India). It helps in imparting training to budding women entrepreneurs. Component 3: • National Entrepreneurship Development Institutions are allotted grants up to INR 5 lac based on their needs. Applicable for research study and field surveys too. Step 1: Women Associations / NGOs / SHGs need to prepare compound proposal for female entrepreneurs. Step 2: The proposal needs to be submitted to the DC (MSME) office. Step 3: The proposal is examined and approval is issued. Step 4: 30% of the amount approved is sanctioned by DC (MSME), and is later dispensed to NGOs. 13 Powered by Biz2Credit Maiden Magnates
  • 14. Micro and Small Enterprises Cluster Development Programme (MSE-CDP) What is MSE-CDP? Objectives: Assistance from GoI (Government of India) and Cost of Project To enhance the productivity of Micro and Small Enterprises (MSEs), cluster development approach has been adopted by the Ministry of Micro, Small and Medium Enterprises. By clustering the units, enterprises can benefit easily from service providers. • To focus on the growth of MSEs by bringing forth issues related to skills, access to technology, capital and market. • To enhance the sufficiency of MSEs by structuring self-help groups. • To boost the infrastructural competence. • To make provision for common facility hubs. • Diagnostic Study: INR 2.50 lac (Maximum) • Soft Intervention: INR 25 lac (Maximum). Contribution from GoI – 75%. (In cases of Special Category States and for clusters representing more than 50% women / SC / ST /micro / village units, 90% is granted). • Hard Intervention: INR 15 crore (Maximum). Contribution from GoI – 70%. (In cases of Special Category States and for clusters representing more than 50% women/SC/ST/micro/village units, 90% is granted). • Development of Infrastructure: INR 10 crore (Maximum). Contribution from GoI – 60%. (In cases of Special Category States and for clusters representing more than 50% women / SC / ST / micro / village units, 80% is granted). 14 Powered by Biz2Credit Maiden Magnates
  • 15. Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE) What is CGTMSE? Objectives: Eligibility: Tenure: Annual Guarantee Fee (AGF) Launched in August, 2000, CGTMSE is a scheme that helps in strengthening the system of credit delivery and flow to the MSE sector. Easy availability of credit encourages budding entrepreneurs to set up MSEs with greater belief. • Provide collateral-free credit to MSEs. • Act as a motivation for promotion of entrepreneurship. • Aiding MSE sector with institutional credit flow. • Bringing forth the reasons behind the restrained growth of MSE sector. • Employment generation. • For credit facilities up to INR 10 lac: No security shall be obtained as a collateral. • For credit facilities above INR 10 lac, but under INR 100 lac: Obtainment of immediate security/ mortgage of land and building related to business. The borrower has the benefit of deciding the coverage of loans. • Term Loan: Guarantee cover is for the agreed period of term loan/composite credit. • Working Capital: Guarantee cover is for 5 years. • Composite all-in-one guarantee fee: 1.5% one-time fee + annual service fee of 0.75% on the total credit facilities confirmed. • For loans up to INR 5 lac: 1% one-time guarantee fee + annual fee of 0.5%. 15 Powered by Biz2Credit Maiden Magnates
  • 16. FROM GRASSROOTS TO TOP-SHOOTS Born to a middle class family in 1933, Ela Bhatt spent her childhood in an environment full of learning. She obtained a degree in law, and soon started working as a lawyer in the Textile Labour Association (TLA) in Ahmedabad, Gujarat. While working she realized that even though women were doing labor-intensive work, they were rather ‘invisible’. This is when she thought that such women could grow and register their presence with the help of adequate funds. That thought ultimately lead to the inception of Self Employed Women Association (SEWA). Today SEWA provides financial aid to women for buying solar bulbs and then renting them out or selling them to the families living in towns and villages. For her exceptional contribution in the field of labor and microfinance, Ela Bhatt has been awarded the coveted title of Padmashri and Ramon Magsaysay Award as well. Thinlas Chorol, a simple girl born in the remote village of Takmachik in Sham region of Ladakh, is the only female from Ladakh who has been trained professionally in the field of mountaineering. She studied in SECMOL, (The Students’ Educational and Cultural Movement of Ladakh). While at SECMOL, she joined ‘Around Ladakh with Students’ (ALS), a travel agency owned by SECMOL. She observed that women were extremely low on confidence, and this is why very few of them were willing to work as a trekking guide. With an aim of developing a society where women could choose mountaineering as a career and earn their livelihood, she established Ladakhi Women’s Travel Company in 2009. Born in Mumbai, Chetna Gala Sinha holds a master’s degree in Commerce and Economics, and is the founder of Mann Deshi Mahila Sahakari Bank. Her entrepreneurial journey began when it was brought to her notice that banks would not allow a woman to open an account, only because she was illiterate. According to Chetna, “Just because a woman doesn’t know how to read doesn’t imply that she can’t manage her money.” After a lot of hard work, her dream of opening a bank came true in 1997. Furthermore, in 2007, she established the Udyogini Business School in collaboration with HSBC. Chetna has been honored with prestigious awards like Entrepreneurship Development Award, Godfrey Phillips Bravery Amodini Award, Rani Laxmiibai Puraskar, and Jankidevi Bajaj Puraskar Award for Rural Entrepreneurship to name just a few. Women Entrepreneurs Who are Improving the Picture of Rustic India Ela Bhatt Founder,SEWA Thinlas Chorol Founder, Ladakhi Women’s Travel Company Chetna Gala Sinha Founder, Mann Deshi Mahila Sahakari Bank 16 Powered by Biz2Credit Maiden Magnates
  • 17. Born in Chennai, Indra Nooyi holds a Bachelors degree in Science and a Post Graduate Diploma in Management (MBA). During the early stage of her career, she worked at Johnson & Johnson, and Mettur Beardsell. In 1994, she joined PepsiCo, the second largest F&B business. Today, she is the CFO and chairman of the company. Year on year, she has been identified as one of the most powerful women in the world by the likes of Forbes and Fortune. On national level, she has been conferred with the honorary title of Padma Bhushan for her remarkable contribution to the business world. Neelam Dhawan graduated in Economics from St. Stephen’s College, New Delhi, and holds a Masters degree in Business Administration from the Faculty of Management Studies, Delhi University. The lady is an inspiration for all the women working in the IT sector. She started her career in early 80s, when not many women were courageous enough to enter technology sector. Before being a part of HP, she served as the Managing Director (MD) of Microsoft, India for three years. Presently, she is working as the Managing Director of Hewlett- Packard (HP), India. Ever since she joined HP, her focus has been on constructing an agenda that helps in evolving HP as one of the most appreciated companies in the world. Born in Jodhpur and raised in Jaipur, Chanda Kochhar holds a degree in Bachelor of Arts. Later she got enrolled in Cost Accountancy ICWAI, and thereafter, obtained a Master’s degree in Management Studies. Her journey with Industrial Credit and Investment Corporation of India Ltd. (ICICI) started way back in 1984, when she joined the company as a management trainee. Presently, she is the MD and CEO of this reputed financial institution. Time and again she has been identified as the one of the most influential women in the business world by coveted media sources like Fortune and The Economic Times. Feisty Females Who are Ruling the Country’s Service Circuit Indra Nooyi CFO, PepsiCo Neelam Dhawan Managing Director, Hewlett- Packard India Chanda Kochhar CEO & Managing Director, ICICI Bank 17 Powered by Biz2Credit Maiden Magnates
  • 18. IN FOCUS Founded: Year of Launch: Brand USP: Story Behind the Brand: Founded: Year of Launch: Brand USP: Story Behind the Brand: SlideShare 2006 SlideShare allows people to share their presentations online. Rashmi’s brother, Amit Ranjan attended BarCamp, a conference where a couple of people having a mutual topic of interest gathered and shared their thoughts and views. When it was time for the presenters to share the presentations, USB sticks had to be passed across, or emails had be sent to one another. This fragmented presentation sharing process gave birth to the idea of building SlideShare, an online tool where displaying presentations would be extremely simple. With an aim of simplifying the technological complications that affect the web users, Rashmi along with her husband, Jonathan Boutelle, and her brother, Amit Ranjan built SlideShare. Forest Essentials 2000 High quality beauty products inheriting the property of Ayurveda. Mira Kulkarni had her home in Rishikesh (which is a hub of Ayurveda), and this is why she had complete knowledge about the benefits of ayurveda right from an early age. She used her expertise on the subject and with an idea of modernizing the traditional ayurveda products, she created an exotic range of beauty products called Forest Essentials. Women Entrepreneurs Who Made it Big in the Business World Rashmi Sinha Mira Kulkarni 18 Powered by Biz2Credit Maiden Magnates
  • 19. Founded: Year of Launch: Brand USP: Story Behind the Brand: Founded: Year of Launch: Brand USP: Story Behind the Brand: BIBA 1986 BIBA offers a wide range of aesthetically designed ethnic apparels for women. Mina Bindra never thought that she would enter the world of business, but she gave it a try and started a clothing line, BIBA, with merely Rs.8000 which she secured as a loan. In the initial years, she worked just with the thought of keeping herself occupied, but in to time, the business expanded tremendously. Her business was joined by her son, Siddharath Bindra in 1997. Today, her designing business, BIBA is a pan- India brand and loved by one and all. Currently, there are around 150 exclusive BIBA outlets and 225 multi-brand outlets in approximately 65 cities. Baggit 1985 Baggit is one of the leading women’s handbag brands. ‘When one door closes, another opens’ – this saying turned out to be quite true for Nina Lekhi, the founder of Baggit. She had excelled in academics throughout, and she was taken aback when she got to know that she failed in her first year of art exams at Sophia Polytechnic. This is when she got enrolled in interior design and screen printing classes, and eventually started designing and selling canvas bags. In no time, she realized that the Indian women had not much explored the sector of women’s handbags. By unleashing her creativity, she started the brand in 1985. Mina Bindra Nina Lekhi 19 Powered by Biz2Credit Maiden Magnates
  • 20. Thank you ! For more information about Biz2Credit call toll-free 1800-3002-0653 or mail us at info@biz2credit.in www.Biz2Credit.in facebook.com/Biz2CreditInfoServices twitter.com/biz2creditin Follow us on Disclaimer: This e-book has been created keeping Indian women entrepreneurs in mind. While Biz2Credit suggests how female business-owners can grow their businesses, it is completely reader’s discretion to use/rely on the information shared herein.