Government schemes like GeM, Stand-Up India, and CGTMSE open doors for women-led businesses with procurement opportunities and collateral-free loans.
Chennai: Finding a market is a big worry for women entrepreneurs. The Government e-Marketplace facilitates Rs 3000 crore worth of goods and services for government departments from women entrepreneurs. The Rs 2 crore loan under Stand-Up India and CGTMSE are two other schemes that provide easy financing for women.
The GeM portal that procures products and services for PSUs and government departments has reserved 25 per cent of procurement from MSMEs. Of this, 3 per cent will be from women-run MSMEs. This opens up a Rs 3000 crore opportunity for women.
“Registered MSMEs run by women entrepreneurs have to register with the GeM portal and provide the details of the goods manufactured and services provided by them. This is for the procurement by the central government. Several state governments also provide similar facilities to women entrepreneurs,” said Anil Bharadwaj, Secretary General of FISME.
Apart from procurement, there are schemes that provide easy access to finance for women entrepreneurs. Under the Stand-up India scheme, the government provides up to Rs 2 crore in loans to SC/ST and women entrepreneurs without collaterals. This is expected to benefit 5 lakh entrepreneurs. Banks will provide this loan if women have registered their venture as an MSME.
New women entrepreneurs can avail of bank credit without collaterals or third party guarantees to set up a micro or small enterprise under the Credit Guarantee Scheme. Women will receive up to 90 per cent of the Rs 5 lakh loan under the scheme. “In patriarchal societies, where women do not own property to pledge as collaterals, this scheme is helpful,” said Bharadwaj.
