Tuesday, 23 November 2021

Women becoming the changing face of Growth through MSME #GrowingBusinessesTogether

Women word in itself holds an in-depth meaning and is a conglomeration of many different qualities. The major change that has today rolled out is in the women that their stepping forward has brought difference not only in their respective house, their workplace, the society but throughout the world. Women could be said to be a pioneer of change. It is this change that took us to a level up in every field. Women are working independently and creating livelihood for many others through MSME that has generated incomes from 13.7% to 20.3%  in last ten years. To understand the analytical growth of the nation by assessing the women in charge, let us first understand what is MSME and how it has given women a platform to fulfill goals.

What is MSME:

MSME stands for Micro Small Medium Enterprise. Manufacturing enterprises and enterprises rendering services fall under MSME.

Micro – Are the enterprises whose investment in plant and machinery equipment is not more than 1 crore and whose annual turnover is less than 5 crore.

Small – Are the enterprises whose investment in plant and machinery equipment is not more than 10 crore and annual turnover less than 50 crore.

Medium – Are enterprises whose investment in plant and machinery equipment is not more than 50 crore and annual turnover less than 250 crore.

There are various schemes of MSME under which your business model and scope of the business fit, you can refer to various government schemes here.

How women are actively taking part in MSME:

In 2018, the Ministry of MSME launched Udyam Sakhi on International Women's Day to build the network of the social entrepreneurship models that are built around low-cost models and which try to work on the social inequities. It connects around 8 million women who have started their businesses through this platform. This program provides a fundraising training program, providing mentorship, face-to-face investor meetings, market survey facility, and all the technical assistance in running the business model.

MSME empowering Women

From various schemes, the scheme for women under Prime Minister’s Employment Generation Programme (PMEGP) Scheme has around 1.38 lakhs projects since January 2019. 30% of the projects are by women entrepreneurs in this project scheme, and they are entitled to 25 % for urban areas and 35% subsidies for rural areas. The biggest benefit for women in MSME is that they have to contribute only 5 percent of the project whereas in the general category people have to contribute 10 percent of the project. 

Let us look at the Prime Minister’s Employment Generation Programme in detailed manner.

Prime Ministers Employment Generation Programme, PMEGP

This scheme is to provide financial support to set up new enterprises successfully. 

What PMEGP does

This scheme is implemented by Khadi and Village Industries Commission (KVIC) at the national level. At the state level, this is executed by the State KVIC directories and District Industries boards, centers, and banks. 

How does PMEGP assist people:

The scheme is to give maximum benefit to the entrepreneurs, and the admissible maximum limit in the manufacturing sector is 25 lakhs and the service sector is 10 lakhs.

The beneficiaries rate for various categories are 

General category Urban - 15%

General category Rural - 25%

Special category Urban - 25%

Special category Rural - 35%

The balance amount of the project is then provided by the banks in form of term loans and working capital.

Who can apply for PMEGP scheme: 

A person who is above 18 years and 8th standard passed.

Project costing above 10 lakhs in the manufacturing sector and 5 lakhs in the bussiness/service sector.

Only new projects are sanctioned under this scheme.

Self-help groups also in BPL category can take benefit of the scheme unless they are not taking beneficiaries of any other scheme.

Projects which are already availing government subsidies cannot be part of this scheme.

How to apply for PMEGP 

One can submit applications to the invite by the State directories or Divisional directories of KVIC which are published in the electronic and print media. Applicants can also submit the application online through this link here and later take the printout and submit it along with a detailed project report to the respective officers. You can also contact the State Director of KVIC here

Why women are considered Change-makers :

A change is only successful if we welcome it with open hands and major contributions as change-makers are women. Women hold ample power and vision to understand, nurture and take positive forward steps for the upliftment of not only themselves but for society and their country.

1. History speaks aloud:

When we trace back our history we have ample evidence that women walked with equal status and powers. They were given warfare training at par with their male counterparts, and they showcased bravery and valor in many different instances. To date, women are working in various sectors and contribute as decision-makers and skill enhancers.

2. Great Multitaskers:

From homemakers to entrepreneurs women are setting examples who can handle multiple responsibilities flawlessly. They have now begun to step into a highly competitive market with their wit and hard work. They have ample choices as per their interest and skill to expand their entrepreneurial horizons and venture into an unprecedented range of business areas. Women are torchbearers of handling varied roles across various platforms successfully.

3. Walk with a Vision:

Women hold the power to conceptualize things and move ahead with a properly planned approach. They have the ability to propel their business with utmost passion and positive vision. The traditional female skills are being turned into a livelihood, by starting a home-based business encompassing textiles, catering, boutiques, crafts, and much more.

4. Fearless approach:

Women are leaving no stones unturned to achieve their dream of entrepreneurship encompassing various social and cultural barriers fearlessly. Various skills they hold become their assets and strength to take their business forward.

Women have crossed many stepping stones to empower the enterprise's field and are championing it. Let us know, about one such entrepreneur who has grown and outshined to set an example for all other aspiring women is mother-daughter duo Pinky Maheshwari and Sharda Daga founders of Surprise Someone.

Surprise Someone founders story 

Surprise Someone creates paper from the waste rags and cotton and not from paper, plus the papers have seeds planted in it so when these papers are discarded a sapling grows into a plant; by this, the enterprise is not only contributing towards the environment but also created a business model that is sustainable for years and years. 

To conserve environment and reduce deforestation this enterprise is making a wave of change and showing path to many aspiring entrepreneurs. This enterprise gives livelihood to many rural people, and it also received an excellence award in an innovative product category. It is in the list of best 50  Start-up India at India International Trade Fair in 2017. With the aim of training 10,000 girls to be self-sufficient and educate them this enterprise has a bright vision for future generation.

Education can change the face of the world and the need and power of education in adults is crucial. Many times, adults have to keep education aside and take up other tasks in life, and many could not get the opportunity to brush their hands-on education system. In such scenarios, adult education plays a major role, you can read detailed post Importance of Adult Education

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Reference links 

1 comment:

  1. This is a very well structured and researched post. It will help all the women who are looking for answers about investments, loans and schemes by govt. for growth of MSME sector to help specially women.


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