Introduction
Women entrepreneurs in India are making significant strides across various industries, contributing to economic growth and job creation. Recognizing the need to empower women in business, both the central and state governments have introduced several women-focused startup schemes and grants to provide financial aid, mentorship, and infrastructural support.
In this article, we will explore the top government schemes and grants available for women entrepreneurs in India, covering eligibility criteria, benefits, and application processes.
1. Stand-Up India Scheme
Overview
Launched by the Government of India, the Stand-Up India Scheme supports women entrepreneurs by providing loans to start new businesses.
Key Benefits
- Provides bank loans from ₹10 lakh to ₹1 crore.
- Focuses on manufacturing, services, and trading businesses.
- Loan tenure: Up to 7 years with a moratorium period.
Eligibility
- Women entrepreneurs above 18 years.
- Business should be in the manufacturing, trading, or services sector.
- The applicant must not be a defaulter in any bank.
How to Apply
- Visit the Stand-Up India portal (www.standupmitra.in).
- Select a bank and apply online.
- Submit a detailed business plan.
2. Women Entrepreneurship Platform (WEP)
Overview
The Women Entrepreneurship Platform (WEP) is an initiative by NITI Aayog to promote and support women entrepreneurs in India.
Key Benefits
- Provides access to mentorship, networking, and funding opportunities.
- Connects women entrepreneurs with investors and incubation centers.
- Offers training programs and workshops.
Eligibility
- Open to all women entrepreneurs in India.
- Startups at any stage can apply for mentorship and funding support.
How to Apply
- Register on the WEP platform (www.wep.gov.in).
- Fill in your business details and funding requirements.
3. Mudra Yojana for Women
Overview
Pradhan Mantri Mudra Yojana (PMMY) provides loans to women entrepreneurs to start micro and small businesses.
Key Benefits
- Offers loans under three categories:
- Shishu: Up to ₹50,000.
- Kishore: Between ₹50,000 and ₹5 lakh.
- Tarun: Between ₹5 lakh and ₹10 lakh.
- No collateral required for microloans.
- Low interest rates.
Eligibility
- Women running or planning to start small businesses.
- The loan can be used for manufacturing, trading, or service sector businesses.
How to Apply
- Visit any public or private sector bank.
- Submit a business plan and KYC documents.
- Loan approval is based on business feasibility.
4. Mahila Udyam Nidhi Scheme
Overview
Offered by SIDBI (Small Industries Development Bank of India), this scheme helps women entrepreneurs with financial assistance.
Key Benefits
- Provides loans up to ₹10 lakh for small-scale industries.
- Flexible repayment tenure of up to 10 years.
- Supports business expansion.
Eligibility
- Women entrepreneurs owning small-scale businesses.
- Business should be legally registered.
How to Apply
- Visit the SIDBI website (www.sidbi.in).
- Submit required documents and apply online.
5. Annapurna Scheme
Overview
This scheme is designed for women entrepreneurs who want to start food catering businesses.
Key Benefits
- Provides loans up to ₹50,000.
- The loan can be used for purchasing kitchen equipment, raw materials, and working capital.
- Flexible repayment period of up to 36 months.
Eligibility
- Women entrepreneurs planning to start food catering or restaurant businesses.
- Must provide a business plan.
How to Apply
- Apply through State Bank of Mysore and other financial institutions.
- Provide business plan, KYC documents, and collateral (if required).
6. Bhartiya Mahila Bank Business Loan
Overview
This scheme is specifically for women-led startups and businesses, providing loans at low interest rates.
Key Benefits
- Loans from ₹10 lakh to ₹20 crore.
- Lower interest rates for women-led enterprises.
- Supports manufacturing, trading, and service sector businesses.
Eligibility
- Women-owned businesses.
- Business must be legally registered.
How to Apply
- Apply through Bhartiya Mahila Bank (now merged with SBI).
7. Dena Shakti Scheme
Overview
A government scheme that provides financial support to women entrepreneurs in sectors like agriculture, manufacturing, retail, and micro-enterprises.
Key Benefits
- Loan up to ₹20 lakh.
- 0.25% concession on interest rates.
- Supports MSMEs and small-scale businesses.
Eligibility
- Women entrepreneurs running agriculture, retail, or manufacturing businesses.
How to Apply
- Visit Dena Bank (Now Bank of Baroda) for application details.
How to Choose the Right Women-Focused Startup Scheme?
1. Identify Your Business Needs
- Do you need seed funding, working capital, or business expansion support?
- Are you in manufacturing, trading, or services?
2. Check Eligibility Criteria
- Each scheme has specific eligibility requirements.
- Ensure you meet all the necessary criteria before applying.
3. Prepare Required Documents
- Business registration certificate.
- Business plan with financial projections.
- KYC documents (Aadhar, PAN, GST, etc.).
4. Apply Through the Official Portal
- Use government websites to avoid fraud.
- Most applications can be done online or through banks.
Conclusion
Women-focused startup schemes and grants in India are empowering female entrepreneurs to establish and grow their businesses. Whether it’s a loan, grant, or mentoring program, these initiatives help women overcome financial barriers and succeed in the business world.
If you’re a woman entrepreneur looking for funding, choose the best scheme that aligns with your business needs and take the next step towards building a successful venture.
