Empowering women is crucial globally, particularly in developing nations with entrenched gender disparities. India has made strides through initiatives like StartUp India, Nai Roshni, Janani Shishu Suraksha Karyakram, and Mahila Samriddhi Yojna, encouraging women’s holistic development. Notably, India has seen a rise in women entrepreneurs, comprising 14% of the sector and over 20% of MSMEs. Figures like Falguni Nayar, Kiran Mazumdar, and Gazal Alagh epitomise this trend, while inspiring many others.
Yet, many Indian women still struggle due to limited socio-economic opportunities. Global reports project over 340 million women (8% of the female population) living in poverty, with one in four facing severe food insecurity. Education and financial literacy gaps exacerbate this. The NFHS-5 report, reveals women aged 15-49 are 13% less likely to be educated than men, with only 41% completing ten years of schooling compared to 50.2% of men.
This education disparity perpetuates limited job opportunities for women, hindering their financial security. Closing this gap is vital for inclusive growth and addressing the persistent challenges faced by women in India.
Why more women in business is good?
Women’s empowerment is both morally imperative and strategically vital for a nation’s prosperity. In India, women drive 50% of the startup ecosystem, with higher returns on equity for women-led companies.
Projected data suggests a potential USD 0.7 trillion GDP boost by 2025, if 68 million more women join the workforce. Aligned with UNDP’s Sustainable Goal 5, Smile Foundation’s Swabhiman programme empowers women in urban slums and rural areas.
Launched in 2005, the Swabhiman programme aims to reach out to the marginalised and socially excluded women, providing them access to quality healthcare interventions, vocational skill development and entrepreneurship support.
Under the guidance of industry experts and the Swabhiman team, women are trained to understand and apply the basics of business and financial management, marketing and communication. They are familiarised with ways ad opportunities to scale up and expand their small scale endeavours, to maximise profit and grow as independent, successful entrepreneurs.
More women in business
To create a gender-equal society, the programme has tailored specific paradigms for increasing women in business such as
- Entrepreneurship Training is provided to women to equip them with technical and entrepreneurial capacity
- Women trainees are provided with knowledge of banking, investment and financial security to enable them to make informed decisions
- Women are made aware of and enrolled in relevant Govt schemes to enhance their growth opportunities
- Community members, particularly men, are sensitised to create a supportive environment for women, with the ultimate aim of building sustainable communities
- Women are supported to set up Model Micro Enterprises
The Women Entrepreneurship Platform (WEP) introduced by the Government of India in 2018, has been an inspiration for the Swabhiman programme. The WEP emphasises equipping women with programmes for a) incubation and acceleration b) entrepreneurship skills and mentorship c) marketing assistance d) funding and financial assistance e) compliance and tax assistance f) community and networking.
Shouldering the government’s initiative, the Swabhiman Programme has made a strong footing in several parts of the country. With over 1,50,000 women and young girls as beneficiaries and 1000+ women and adolescent girls as changemakers, the programme has created a positive wave of change at the grassroots level.
Furthermore, over 54 women-led businesses and small entrepreneurs have been initiated, while several women have been equipped with knowledge and skills that help them make sound financial decisions, ensuring a safer and stable future for themselves and their families.
Pramila stitching her dreams
One such budding women entrepreneur is Pramila. Pramila’s (40) life changed drastically when her husband had a serious accident, pushing her into the role of sole provider. Despite trying cloth stitching, she struggled, until she came across Smile Foundation’s Swabhiman Programme, which helps women set up their low-scale businesses and manage their operations.
After getting enrolled in Swabhiman, she was suggested by the trainers of the programme to rent out a shop and start her business. She was also provided with two machines for interlock and pico work. Furthermore, she was given intensive training in business management and financial awareness, enabling her to make well-informed decisions for her business.
Today, she has been associated with Smile Foundation for a year and her business is thriving. She has been able to hire another person to manage the business while empowering both her sons to pursue higher education.
She is glad that she got to know about Swabhiman which has truly helped her and her family to live better and dream bigger and brighter.
Like Geraldine Ferraro said, “Some leaders are born women”, the Swabhiman Programme firmly believes that by empowering women with quality education and equal economic opportunities, we are creating a generation that shall see women as prominent decision-makers.
The growing number of women entrepreneurs in India is a silver lining and this trend should be supported collectively by all stakeholders. A joint effort has to be made to curb discriminatory practices against women based on gender, educational qualificatio and experience that limit them in accessing economic opportunities and support.
The Swabhiman Programme envisions pushing the women’s entrepreneurial landscape in an upward trajectory that will finally enable them to break the ceiling and create a newer horizon of success for themselves.