INTRODUCTION
Globally, from financial sector workers to the sector, conflicts exist to achieve gender equality and promote the full and progressive advancement of women and their male counterparts. With the growing recognition & proper recognition of the role of women entrepreneurs in national economic growth, there is a need to understand the nature of their operations and their easy access to production methods in India.
Assessing the national level of need and financing for small, medium, & micro enterprises (MSMEs) run by women is essential to understanding the luxury and the opportunities available to enter their private & regulated financial world.
WHAT IS UDYOG AADHAR?
In the words of the Prime Minister, ‘Some people have suggested that the registration of small industries should be easy’. The conference introduced the Udyog Aadhar program which will make things better for SMEs and encourage informal businesses to get the Udyog Aadhaar Number. MSME helps performs a variety of functions, such as business expansion, development, diversity, and technology development.
Udyog Aadhar help in Assisting Small Businesses
In order to get specialized in Government tenders, the Government of India is interested in purchasing small & medium enterprises through government tenders.
The government of India & SIDBI have introduced a Credit Guarantee Program (CGSME) in order to facilitate free SME credit. 1% exemption on Bank Overdraft (OD) interest rate.
Protection from payment delays from consumers. (If the purchase payment from MSME exceeds 45 days, the buyer is liable to pay interest to the SME supplier at three times the bank charges.
50% Special Discount over Government fees for the Trademark & patent
Businesses with MSME certificates may provide a 50% subsidy over patent & trademark registration.
Electricity bill concession.
Multiple tax rebates (income tax & capital gains tax).
To resolve disputes quickly, the MSME Facilitation Council for Conciliation & Arbitration may be referred for payment disputes.
WOMEN-CENTRIC SCHEMES
1. The Udyam Sakhi
The Department of Small, Medium & Medium Enterprises, known as the engine of national growth & independent sponsors and entrepreneurs, has emerged as the leader in women's development around the world.
On the eve of the International Women's Day 2018, the MSME Department launched Udyam Sakhi, a network to raise women who are tested so that they do not have too little opportunity to manage business finances independently, often due to a lack of adequate management procedures and available opportunities, by comparison. in men. Therefore, the business model mainly consisted of affordable help/services and cost-effective products.
2. The Mahila Udyam Nidhi Scheme (MUN)
Significant aspects of women-owned, urban or town-owned enterprises, as well as their need for financial and non-financial services have varied. The availability of financial products and the barriers to their access were analyzed especially for women who experience them. This gave birth to the Mahila Udyam Nidhi Scheme. In addition, key focus areas have been identified recently that will help improve women's entrepreneurial access to finance.
Details About the Scheme
The Mahila Udyam Nidhi (MUN) Scheme is a program provided by the Indian Small Business Development Bank (SIDBI). The main theme of the program is to promote, empower, educate, and empower women entrepreneurs and to develop women entrepreneurs through the provision of financial assistance. Access to financial assistance is made more attractive by offering special discounted interest rates on loans.
Under the Mahila Udyam Nidhi Scheme, women entrepreneurs can provide loans to develop, grow, and invest in existing projects or many new businesses. Punjab National Bank was the first to launch the Mahila Udyam Nidhi Scheme to provide financial support to SSI-affiliated women entrepreneurs.
Eligibility
Existing women entrepreneurs who have started new MSMEs, Small Units, or SSIs.
The financial viability of women entrepreneurs will not be less than 51%, who make production and production goals.
Loans are granted to existing or new MSMEs who are involved in the service, commercial & manufacturing sectors.
MSMEs or small businesses have a minimum investment of at least Rs. 5 lacs.
There are certain activities included in the Mahila Udyam Nidhi Scheme. Listed below are a few such as:
Repair & service center
Beauty Salons / Beauty Salons
Cable TV network
Restaurant & restaurant
Publishing Computer Desktop
Kindergarten
Cyber Café
Child Care Center
ISD / STD Booth
Clock & Dry Cleaning
CONCLUSION
It is estimated that about 90 percent of women entrepreneurs have not yet received funding from official financial institutions. Of the 11.4 million women-headed MSMEs in India, the official financial institutions operate at only 10 percent. Those who have not yet received official financial assistance are:
who sought credit from FIs but whose applications were rejected,
who have never applied as they feel they cannot meet the mortgage requirements,
Those who have not applied for other reasons, including a lack of information about loan products and application procedures, risk aversion, incorrect credit terms, or complex application forms.
There is no chance of world welfare unless the status of women is improved. A bird cannot fly with just one wing. Leaving half of the people behind is an unforgivable sting on the part of the country and its focused economy. The MSME Department has emerged as a leading accounting center for women entrepreneurs, which aims to celebrate women who violate socially constrained boundaries and circumstances and who choose to be financially independent.
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