NIESBUD,an enterprise of MSME,Govt of India supported by FAB-Women Foundation Trust organised a one day ” Women Entrepreneurship Summit” coinciding with Women International Day,March 8th,2014.
The summit was inaugurated by Mrs Stuti Kacker,Secretary,Disability Affairs,GOI who also happens to be the past Joint Secretary of MSME.
I had the honor of being invited to chair the post lunch session on “Financial Challenges and Facilitation”.The other panelists on the dias were:
-Dr Vandana Mathur ,Professor,Entrepreneurship
-Mr Pradeep Sharma,Chief Manager,Consultancy Services Cell,State Bank of India
-Dr Manjusha Tyagi,President,Kamla Mahila Handicraft Udyog & Vikas Samiti.
Dr Vandana Mathur presented her study based on the survey of 450 women entrepreneurs in Delhi NCR.Major findings of her study are:
1-Majority of women entrepreneurs started thier business in the age bracket of 31-45 years of age.
2-78% of these women are married.
3-Major hurdle they face in running thier business is Financial Problems and Mobilization of Funds.
4-They lack training in managerial skills.
5-Majority of them are in service sector and face lot of problems.
6-The one’s who are in manufacturing sector face marketing constraints.
Dr Majusha Tyagi asked all present to focus on developing self employment & entrepreneurship among women from Lower Middle Class.She also talked about importance of skill development towards income generation.She felt that though banks do boast of many women friendly schemes however there is lack of awareness among women about such schemes and also lack of will among bankers to actually help women take benefit of such schemes.
Mr Pradeep Sharma said that when it comes to an entrepreneur applying for bank loan he should keep in mind basic principle ie “Need and aspirations of entrepreneur vis a vis need and aspirations of a banker”.
He informed the audience that SBI has clear mandate to give macximum possible loans below Rs 1 Crore under CGTMSE Scheme.He also informed the audience that the insurance charges payable under CGTMSE scheme too are borne by SBI itself.He said that money is not a major problem.Problem is with entrepreneurs as they are not aware of loan schemes and procedure.They usually are not able to submit project report or documents in time.He also advised entrepreneurs to plan thier funds needs atleast 3-6 months in advance and not expect a bank to extend them loan without any due diligence.
The session ended over Q & A.
The event was a great success in all respects.I was happy to meet Neha Singh,Chairperson FAB magazine,her colleague Ms Nimrit, Capt Kumari Anju Rani,Secretary,Ashanrup Lok Sewa Sansathan and many more enterprising women including my friends Jaya Goel and Dolly Bhasin who were speakers at next session on Technology.
My sincere thanks to Sarita Tomar of NIESBUD to have invited me.