Need to bridge information gap among aspiring women entrepreneurs in Bihar: Experts
Only five per cent of women entrepreneurs in the state received financial assistance from the government, while just one per cent borrowed from formal financial institutions, Ruby Sinha said.
Women entrepreneurs in Bihar said on Sunday that lack of awareness about government policies and incentives for new businesses was the biggest hurdle in taking their startups forward.
Addressing a webinar, representatives of Bihar Mahila Udyog Sangh and other leading organisations of women entrepreneurs highlighted the need for launching regular awareness campaigns to encourage women to start a venture.
The digital session was organised by Sheatwork.AtmaNirbharShe, a one-stop knowledge hub for women entrepreneurs.
"Most of us are not aware of the policies or incentives for women entrepreneurs implemented by the Centre and state governments. In fact, according to industry reports, the majority of women entrepreneurs in Bihar are self- financed," sheatwork.AtmaNirbhar.She founder Ruby Sinha said.
Only five per cent of women entrepreneurs in the state received financial assistance from the government, while just one per cent borrowed from formal financial institutions, she said.
Access to institutional credit and the government incentive schemes has been limited, though the state government had announced Rs 500 crore Bihar Startup Policy in 2017, Sinha said.
"Through a series of webinars, starting with this edition, we are trying to highlight the state of women entrepreneurship across the country and bridge the information gap," she added.
Bihar Mahila Udyog Sangh's president and Petals Craft founder Usha Jha said, "Due to lack of exposure and communication skills, women entrepreneurs in Bihar have been unable to present themselves on national and international levels."
Frontline Business Solution vice chairperson Soniya Sanjay Sinha said major challenges that women entrepreneurs face in the state are "family pressures, gender and socio- economic issues".
Brand Radiator co-founder and CEO Himani Mishra said, "When a woman determines to start her own venture, the challenges she faces are more on credibility and societal structure than real business problems."
She urged the government to formulate a business ecosystem which will encourage women to start a venture.
The Entrepreneurship School founder and CEO Sanjeeva Shivesh said, "Bihar is a land where the seed of republic was sown. Now, we must sow seeds of entrepreneurialism here."