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Due to the onset of media, women are becoming more conscious of their own capabilities and the possibilities of personal growth. Women are active in all sectors of business like decoration, publication, export, etc.
Indian women were once confined to the four walls by the socio-cultural customs. Yet, more women are going for advanced, professional, and technical education. Their proportion in the workforce is also increasing. Healthcare and self-assistance industries have the highest concentration of women workers, that is, 53%. This is followed by educational services with 45% of women employees. Whereas, industries with a lower concentration of women employees are finance, insurance, and construction with 20% and 8% respectively.
| CATEGORY | Education Qualification | Financial Status | Place Where They Function | Types of Business |
| FIRST | Having higher level of technical and professional qualifications. | Sound financial positions. | Established in big cities. | Non-traditional area of business such as manufacture and construction. |
| SECOND | They have sufficient educational qualification. | Moderate financial status. | Established in cities and towns. | They engage themselves in running kindergarten schools and crèches. |
| THIRD | They mostly consist of illiterate women. | Financially weak. | Established in villages. | They are involved in family business such as agriculture, dairies and fisheries. |
Various Indian commercial banks as well as NBFCs offer substantiated business loans for women to encourage them to start new businesses. Business loans offered for budding women entrepreneurs carry characteristics like low interest rates, adjustable security requirements, minimal processing fees, etc. They also enjoy low documentation charges.
There are loans given to support women exclusively in our country. Yet, there are certain requirements that the candidate should fulfill to become eligible to get the loan sanctioned.
Business loan designed for women can either be opted online or offline. There are a plethora of options for offline loan. Here, you may apply for a loan simply by visiting the branch office of the lender. You can enquire the details of the product and the special offers. During the process, you must have document proofs including address proofs,identity proofs, business plans, business continuation proofs,etc. Once these documents are submitted, the company will verify the documents’ validity and then process the loan amount.
Entrepreneurship makes women stable financially and socially. For women empowerment, the most essential factor is the attainment of economic freedom which will also enable them to take part in the decision making process. To run businesses successfully, she needs to make decisions and build her own career and character. But as a society, we should also remember to hear the opinions, needs and aspirations of women around us. As a society, everyone’s responsible for the overall development of women in the society because those women are our mothers, daughters and sisters.
Also Read: Wanted: Innovative Entrepreneurship