According to the Global Alliance for Mass Entrepreneurship (GAME)- an association for micro, small and medium enterprises said that women entrepreneurship remains restricted in India as more than 80% of ventures are dependent on family funds and the limited network for sales. In a recent study by GAME, 80% of women entrepreneurs run solo ventures and about 86% such women-owned businesses are self-funded. The study also revealed that funds raised by all-female founding teams in India stood at 0.63% of the total $13 billion raised.
Women entrepreneurship contributes only 3.09% to the India’s total industrial output. 4 sectors having high potentials which are operated by women entrepreneurs are- Textiles and apparel, food, health wellness and beauty, and education. Of the 2,58,000 enterprises in Bengaluru, from the 4 sectors, businesses around 36,000 are owned by women. Out of these businesses of women, 1.5% of them received funds from financial institutions.
The CEO if GAME, M Srinivas said that the women entrepreneurs face major challenges such as lack of access to finance, low risk appetite, knowledge on marketing, digital identity and subdued demand. GAME has created a program to mentor such women founders and has recently started helping 150 of them in areas such as financing to creating a brand. A majority of solopreneurs find it difficult to get to a marketplace and typically sell within their limited networks, thereby restricting growth opportunities.
NEWS REPORTED BY:
VRIDHI BHAGNARI.
CONTACT DETAILS: vridhi.bhagnari1707@gmail.com
