AN UNEQUAL BUSINESS
BW Businessworld|April 06, 2024
Running medium and small enterprises presents its own set of challenges, chiefly difficulties in accessing formal finance. But for women entrepreneurs, overcoming these challenges becomes even more difficult due to the gender gap 
Abhishek Sharma
AN UNEQUAL BUSINESS

THE STORY OF HINDAVI Solution, the Pune-based manufacturer of the emerging Beestofix brand of adhesives, paints and ink, is as instructive as it is revelatory. While its success is built on an individual’s ambition, hard work, and unwavering commitment, the journey lays bare the challenges women entrepreneurs face.

“The challenges were multifaceted — the social stigma surrounding women in science, technology, engineering and mathematics (STEM), financial constraints and the struggle to secure a business loan due to a lack of collateral,” says Amruta Mangale, speaking of her struggles when she founded Hindavi Solution in 2016.

After multiple rejections, she finally secured a loan of Rs 20 lakh with the help of Bharatiya Yuva Shakti Trust (BYST), a non-profit organisation. During the Covid-19 pandemic, when several micro, small and medium enterprises shut down, Hindavi Solution not just thrived but even enjoyed flexibility thanks to the use of technology.

That it’s not easy being a woman entrepreneur is borne by data. About 3,057 Indian MSMEs led by women entrepreneurs shut down in between 1 July 2020 and 2 February 2023, said Minister of State (MoS) for MSME Ministry Bhanu Pratap Singh Verma in the Rajya Sabha while sharing data from the Udyam portal.

Challenges Galore

Today, nearly 20 per cent of all MSMEs in the country are run by women. They are constrained by various challenges, principally access to finance at different stages of the business. A large body of evidence has documented the disparities in access to finance between men- and women-run enterprises.

هذه القصة مأخوذة من طبعة April 06, 2024 من BW Businessworld.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة April 06, 2024 من BW Businessworld.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BW BUSINESSWORLD مشاهدة الكل
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 mins  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 mins  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 mins  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 mins  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 mins  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 mins  |
October 19, 2024