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Tag: REVIVE Diaries

Empowering women farmers and FPOs: Samhita-CGF’s initiative supported by Walmart Foundation

Farmers in Maharashtra face severe challenges, particularly smallholder farmers, who make up 78% of the farming population and own less than two hectares of land (NSS 77th Round). Further, the state is particularly vulnerable to climate change that affects smallholder farmers who have the least capacity to cope (over 36 Mn Ha land was lost due to unseasonal rains in 5 years). Samhita-CGF, supported by the Walmart Foundation, is implementing a comprehensive intervention to address these challenges across 12 Farm Producer Organizations (FPOs), 7 of which are women-led and located in the Marathwada region, while 5 are mixed-gender FPOs based in the Amravati region.

The program

Mobilising Resources for Women Entrepreneurs: The Women Entrepreneurship Development Program

In today’s rapidly evolving world, empowering women to embark on entrepreneurial journeys is crucial for driving inclusive economic growth and societal progress. This blog explores the pivotal role of skill enhancement in enabling women to succeed as entrepreneurs, and various aspects such as financial and digital barriers for women entrepreneurs in India. Central to this narrative is the Women Entrepreneurship Development Program, a collaborative initiative with DXC Technology, which equips women with the knowledge and resources needed to navigate the entrepreneurial landscape.

In communities worldwide, women often face limited access to formal employment opportunities due to various socio-economic factors such as lack of education, mobility constraints, and gender norms. Micro-entrepreneurship offers a pathway for women to generate income and contribute to the economic development of their communities.

The ‘Women Entrepreneurship Development Program: Promoting Inclusion and Financial Empowerment,’ a collaborative effort by Samhita-CGF and DXC Technology, stands out in this regard. This program is not just about skill development ; it aims to transform the entrepreneurial landscape, enabling women to flourish in the business world.

Addressing the Financial Challenges of Women Entrepreneurs in India

Micro, Small, and Medium Enterprises (MSMEs) are pivotal to India’s economy, significantly contributing to both employment and GDP. Despite their vital role,  women entrepreneurs within the MSME sector face numerous obstacles that hinder their growth and sustainability. 

In India, there are approximately 15 million women-owned MSMEs, however, about 90%  of these women entrepreneurs haven’t accessed formal financial institutions for funding. This challenge has been intensified by the COVID-19 pandemic, which disproportionately affected women entrepreneurs, particularly those who lacked access to formal financial support networks.

In rural spaces, the dynamics differ significantly. Here, women entrepreneurs face unique challenges stemming from limited access to resources, infrastructure, and markets. Unlike urban environments, rural and semi-urban areas may lack established business networks and support systems, making it difficult for women to start and grow their ventures. The need for tailored financial literacy programs becomes important to not just foster inclusivity but also for driving economic development at the grassroots level, ensuring women entrepreneurs can thrive and contribute significantly to India’s economic landscape.

Leveraging Digital Technology for Empowering Women Entrepreneurs

Skill enhancement efforts delve into the realm of digital literacy to equip women with the tools they need to thrive in modern business environments. Recognizing the disparities highlighted by the program, where only 29% of women in India are digitally literate compared to 59% of men, it’s evident that bridging this gap is essential for inclusive economic growth.

Moreover, in addressing the financial hurdles encountered by women entrepreneurs in India, digital technology plays a pivotal role. Educating women on digital payment systems facilitates secure transactions, while insights into data analytics empower them to make informed decisions about their businesses’ financial health. By integrating digital literacy components into skill enhancement programs, women entrepreneurs are equipped not only to navigate the complexities of the digital realm but also to overcome financial barriers and thrive in dynamic business landscapes.

Women Entrepreneurship Development Program: A Case Study for Transforming Communities 

The program stands as a comprehensive blended learning initiative aimed at empowering women to embark on successful entrepreneurial journeys. Spanning 100 hours across three phases, this initiative is meticulously designed to equip women with the knowledge, skills, and resources necessary for entrepreneurial success.

  • The first phase is characterised by nearly 500 women also known as Village Level Entrepreneurs (VLEs), who are given training in Financial Literacy, Digital Literacy, and Menstrual Health Education.
  • From the initial group, champions are identified from the trained VLEs for the second phase. These champions will serve as leaders responsible for building the capacity of future entrepreneurs by facilitating and mentoring future participants.
  • The trained women from the second phase will further identify, enrol, and train 300+ future women entrepreneurs in the third phase. These women will acquire skills and accelerate livelihoods through four distinct skill sets: Fashionpreneur, Edupreneur, Spoken Tutorial and Swasthya Sakhi.

The program’s innovative approach not only focuses on individual skill development but also emphasises community transformation and leadership development. By empowering women to become entrepreneurs and mentors in their communities, the program aims to create a ripple effect of empowerment, driving societal change and economic growth. 

It’s time we realise that when women succeed, communities flourish, underscoring the transformative impact of women’s entrepreneurship on society at large. Only through comprehensive and targeted efforts can we truly unlock the full potential of women entrepreneurs across the spectrum of our society.

This article was authored by Aakriti Singh and Ayushi Bhatnagar

Empowering Women Entrepreneurs: Unveiling the Women Economic Empowerment Index

To push towards sustainable development goals, the voice and agency of women are catalysts for change and progress. Recognizing this, Samhita-CGF has taken a bold step towards quantifying and fostering women’s economic empowerment through an initiative: the Women Economic Empowerment (WEE) Index. This comprehensive tool is designed to measure and monitor the progress of women entrepreneurs in India’s dynamic semi-formal and informal sectors, recognizing their pivotal role in driving economic growth and societal transformation.

Empowering the Underbanked through the Innovative Pre-Credit Score Initiative

In a world striving for new innovations in pursuing holistic financial inclusion, Samhita-CGF takes a bold step forward with its innovative network alliance to bridge the credit gap faced by underbanked communities and micro-entrepreneurs. In partnership with SIDBI, CGTMSE, and NSDC, Samhita-CGF is introducing the Pre-Credit Score (PCS), an innovative credit scoring framework that empowers first-time borrowers. Unlike traditional scoring models, which rely on past credit history, the PCS delves into income and expense patterns, as well as lifestyle indicators, providing a comprehensive view of creditworthiness. This revolutionary approach opens doors for New To Credit (NTC) and New To Business (NTB) segments, offering them access to formal credit.

The challenge: Access to commercial capital

As per SIDBI, only 2.5 Cr. or less than 40% of the MSME have ever been provided formal credit, which means over 60% of this sector has no access to formal credit. This glaring credit gap persists, particularly in the informal sector, where businesses are often funded by non-transparent, high-interest informal sources. Further, there is a glaring gender disparity in credit usage. Women in India receive credit equivalent to only 27% of the deposits they contribute, while men receive credit equal to 52% of their deposits.

For His Family’s Happiness

Daud Shaikh, who loves his family and constantly travels across State lines to spend time with them, recently realised how identity documents can add value to his life

In 2011, Daud Shaikh, then an 18-year-old farmer, migrated from his village in Jharkhand to Mumbai. He managed to find work as a construction worker in the city. Ten years on, Daud works as a mason at the Shapoorji Pallonji construction site in Powai, Mumbai. 

Prior to his marriage, he used to stay in the city for one-two years at a stretch. Now a father of three, he shuttles between his village and the city every three-four months despite his economic compulsions.