Tag: Women Entrepreneurs

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New Finance Initiatives Boost Women Entrepreneurs in Maharashtra

As part of the workshop, Anna Roy, Mission Director, WEP and Principal Economic Adviser, NITI Aayog, launched several initiatives….reports Asian Lite News

Financing Women Collaborative (FWC), an initiative of Women Entrepreneurship Platform (WEP) on Friday announced new collaborations to support women entrepreneurs by strengthening their access to finance at a workshop held here. 

As part of the workshop, Anna Roy, Mission Director, WEP and Principal Economic Adviser, NITI Aayog, launched several initiatives.

Key highlights included the announcement of a partnership between MAVIM and MSC under FWC to improve access to finance through alternative credit rating mechanisms and work with banks to offer more tailored products for women entrepreneurs in Maharashtra.

An MoU exchange between WEP and GroW Network founded by AfD, SIDBI, and Shakti Sustainable Energy Foundation; launch of the “Seher” program by TU CIBIL and launch of the Shine program in partnership with CreditEnable to strengthen the credit readiness of women-led enterprises were other initiatives announced to benefit women entrepreneurs. 

Additionally, SEWA Bank’s commitment to reaching out to more women entrepreneurs as a member of FWC was also announced

The event included an engaging session exploring “Perspectives on encouraging banks to finance women beyond SHG groups” and a panel discussion titled “Accelerating women’s access to finance: Unlocking the potential of the women-led economy for achieving Vision 2047.”

The meeting was organised by WEP in partnership with TransUnion CIBIL (TU CIBIL) and MicroSave Consulting (MSC).

Key dignitaries included senior officials from NITI Aayog, RBI, the Ministry of Finance, the Ministry of MSME, SIDBI, public-sector banks, private-sector financial institutions, CSOs/NGOs, and women entrepreneurs who attended the workshop.

WEP, incubated in NITI Aayog in 2018 as an aggregator platform, transitioned into a public-private partnership in 2022. WEP aims to strengthen India’s women entrepreneurship ecosystem.

It provides a forum for all ecosystem stakeholders across government, business, philanthropy, and civil society to collaborate, converge, and align their initiatives towards scalable, sustainable and effective programs, enabling a larger impact for women entrepreneurs.

WEP has over 20 public and private sector partners collaborating to strengthen women entrepreneurs in India.

FWC, an initiative of WEP launched in September 2023, aims to enhance access to finance for women entrepreneurs in India. It is chaired by the Small Industries Development Bank of India (SIDBI) and co-chaired by TU CIBIL, with MSC as its secretariat.

FWC brings together the financial service sector and organisations working with women entrepreneurs to create a supportive financing ecosystem for women.

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Business Economy India News

Women Entrepreneurs Get Govt Boost

Union Minister Piyush Goyal announced that women entrepreneurs will get an 80% fee discount and MSMEs will get a 50% discount on PESO licences….reports Asian Lite News

Union Minister of Commerce and Industry, Piyush Goyal, has announced 80 per cent concession for women entrepreneurs and 50 per cent for MSMEs in fees for licences granted by the Petroleum and Explosives Safety Organisation (PESO), according to an official statement issued on Thursday.

Accordingly, the Minister has directed PESO to formulate guidelines in consultation with the Central Pollution Control Board (CPCB) and the Ministry of Petroleum and Natural Gas (MoPNG) for creating a template of safety measures allowing retail outlets of petrol pumps to function in cases where there is habitation within 30-50 metres.

Piyush Goyal also said that QR code for cylinders is incorporated in the draft Gas Cylinders Rules and a final notification will be out soon.

He added that a committee will be formed to study if a licence for explosives, transport and manufacturing can be given for 10 years. A committee will also examine the issue regarding increasing the validity of licence to 10 years as all licences except for explosives are given for 10 years.

To further streamline processes, the Minister said efforts must be made to involve third-party inspection agencies in more areas, adding that online permission modules will be developed by PESO for a few areas which are yet offline.

Goyal also directed that the process for filling up vacancies in PESO must be expedited.

Petrol pump licences are issued in Form XIV of Petroleum Rules 2002 whereas licence for CNG dispensing facilities within petroleum retail outlets are issued in Form G of Gas Cylinders Rules.

As both the licences are under different Rules and Acts, amendments in the licence in Form XIV are also required to be made after the grant of licence for CNG facilities in the same petrol pump.

This amendment will be dispensed with by making required changes in the modules. This will reduce the compliance burden and the workload of PESO.

Minister Goyal chaired a stakeholder consultation on Thursday to get feedback from petroleum, explosives, fireworks and other related industry leaders, aimed at enhancing efficiency in the functioning of PESO.

Goyal said the compliance of the petroleum and explosives industry must be balanced with public safety.

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Business Woman

Mumzworld Empowers Emirati Women Entrepreneurs

Mumzworld aims to partake in the “We Collaborate for Tomorrow” initiative to invite all Emirati Mumz who own private businesses and small projects to participate, whether they offer clothing, food, soap, or any handmade crafts made with passion and love…reports Asian Lite News

To celebrate Emirati Women’s Day, Mumzworld, the leading e-commerce shopping destination for mothers in the Middle East and North Africa region, has launched an initiative to empower and support innovative Emirati female entrepreneurs and small business owners. This initiative contributes to the company’s goal of enhancing the role of women and creating new opportunities for Mumz to succeed.

Mumzworld aims to partake in the “We Collaborate for Tomorrow” initiative to invite all Emirati Mumz who own private businesses and small projects to participate, whether they offer clothing, food, soap, or any handmade crafts made with passion and love. The initiative provides an opportunity to collaborate with 5 female entrepreneurs to showcase and sell their products on the first and largest online shopping website & app in the United Arab Emirates for mothers, babies, and children.

Mumzworld extends an invitation to participate in this opportunity by sharing the project details, including photos of the product, a summary, and the project’s Instagram account, to the initiative’s email: welcome@mumzworld.com from August 28, 2023, until the end of September 2023, when it will announce the selection of 5 Entrepreneurs to display and sell their products on the Mumzworld website and application via its Instagram platform.

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