 "Turning dreams into reality with their own savings")
A dearth of capital is usually an impediment in the execution of many new business ventures. But some women entrepreneurs have turned their dreams into reality by choosing business ideas that require a minimum of capital, where their savings and skill-sets alone have helped set the ball rolling.
Prospective women entrepreneurs often are ignorant of the Reserve Bank of India (RBI) guideline that no collateral is required for bank loans of up to Rs 1 crore in the micro and small enterprise sector. Nor do they know of the several schemes of assistance offered by the Central and state governments.
Undeterred by these hurdles, many women with the passion to become entrepreneurs have succeeded in creating a niche for themselves. Having reached a critical threshold in their businesses, they are now looking for funding.
Kaur and her team of eight now have their full with orders for birthday parties, kitty parties and small wedding celebrations. "I am now thinking of opening a restaurant but that will need funds. Until now the investments were meagre but for expansion we may look for financial help," she explained.
Manisha Ahlawat, 38, who worked for 10 years with Reliance and Mahindra Retail, dreamt of opening a 'women only' fitness centre. "I put at stake my own savings and the savings of my close relatives. My journey began in 2010 when I became the master franchisee for Vivafit Portugal in India, and rolled out Vivafit India Inc. In a short span we opened two fitness centres at Gurgaon and one in Delhi. Franchises were given in Guwahati and Chandigarh, and we may expand our footprint in Lucknow and Mumbai shortly."
Further expansion, according to Ahlawat, will need funding from banks. She realises that in the wake of the slowdown and the bad-loan problem of banks, borrowing money from banks will not be easy. But a woman entrepreneur should be ready to face all this, she added.
Leena Singh, 40, of Shree Kalindi Art, has recently relocated to Chandigarh from Mathura. Born in Madhya Pradesh and married into a Mathura family, she started working with a local NGO and then began making brass handicrafts. Location in business really matters, said Singh, who explains that in small towns a manufacturer is dependent on traders, who make fat margins.
On the advice of close relatives, she shifted base to Chandigarh to cater to a bigger market, she explains, adding, "I regularly participate in exhibitions across India and have won appreciation. But I need funds to create better objects, as I have many ideas. I have a small warehouse and wish to display items in a more professional way. My artifacts get exported too. But designers get peanuts due to lack of branding."
Shreya Singh, 28, a diet consultant in Chandigarh, has one clinic each in Chandigarh and Panchkula. She wants to add more, and towns like Patiala, Ludhiana, Jalandhar and Amritsar are on her radar, but she wants to tread carefully instead of expanding too fast, too soon. "There is a huge market for diet consultants due to lifestyle problems these days. The initial investments are quite low, as the quality of consultation is more important. But in order to make value additions to your services, investments become indispensable," she said.
All these women feel that, having proved their worth, they may now face fewer road blocks in securing funds. They believe that venture capital and angel investment come with a high cost, and ask: why go in for costly funds when cheaper options are available? So bankers, get ready, for women borrowers are going to be knocking on your doors!
Prospective women entrepreneurs often are ignorant of the Reserve Bank of India (RBI) guideline that no collateral is required for bank loans of up to Rs 1 crore in the micro and small enterprise sector. Nor do they know of the several schemes of assistance offered by the Central and state governments.
Undeterred by these hurdles, many women with the passion to become entrepreneurs have succeeded in creating a niche for themselves. Having reached a critical threshold in their businesses, they are now looking for funding.
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Gagandeep Kaur, 25, has been supplying ready-to-eat meals to over 350 clients at their doorstep every day. She started her venture four years ago, when her father died and the family needed a source of income. This business needed a minimum of investment and with the help of her mother she forayed into preparation and distribution of fresh meals under the name 'Ghar Ka Khaana'.
Kaur and her team of eight now have their full with orders for birthday parties, kitty parties and small wedding celebrations. "I am now thinking of opening a restaurant but that will need funds. Until now the investments were meagre but for expansion we may look for financial help," she explained.
Manisha Ahlawat, 38, who worked for 10 years with Reliance and Mahindra Retail, dreamt of opening a 'women only' fitness centre. "I put at stake my own savings and the savings of my close relatives. My journey began in 2010 when I became the master franchisee for Vivafit Portugal in India, and rolled out Vivafit India Inc. In a short span we opened two fitness centres at Gurgaon and one in Delhi. Franchises were given in Guwahati and Chandigarh, and we may expand our footprint in Lucknow and Mumbai shortly."
Further expansion, according to Ahlawat, will need funding from banks. She realises that in the wake of the slowdown and the bad-loan problem of banks, borrowing money from banks will not be easy. But a woman entrepreneur should be ready to face all this, she added.
Leena Singh, 40, of Shree Kalindi Art, has recently relocated to Chandigarh from Mathura. Born in Madhya Pradesh and married into a Mathura family, she started working with a local NGO and then began making brass handicrafts. Location in business really matters, said Singh, who explains that in small towns a manufacturer is dependent on traders, who make fat margins.
On the advice of close relatives, she shifted base to Chandigarh to cater to a bigger market, she explains, adding, "I regularly participate in exhibitions across India and have won appreciation. But I need funds to create better objects, as I have many ideas. I have a small warehouse and wish to display items in a more professional way. My artifacts get exported too. But designers get peanuts due to lack of branding."
Shreya Singh, 28, a diet consultant in Chandigarh, has one clinic each in Chandigarh and Panchkula. She wants to add more, and towns like Patiala, Ludhiana, Jalandhar and Amritsar are on her radar, but she wants to tread carefully instead of expanding too fast, too soon. "There is a huge market for diet consultants due to lifestyle problems these days. The initial investments are quite low, as the quality of consultation is more important. But in order to make value additions to your services, investments become indispensable," she said.
All these women feel that, having proved their worth, they may now face fewer road blocks in securing funds. They believe that venture capital and angel investment come with a high cost, and ask: why go in for costly funds when cheaper options are available? So bankers, get ready, for women borrowers are going to be knocking on your doors!