Bihar’s women entrepreneurs want a woman-friendly business ecosystem in the state

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Patna: State of entrepreneurship is intrinsically linked to the state of women and it is important to create an inclusive ecosystem for women entrepreneurs. In Bihar although there is no dearth of skilled women, there is a need to tap their skills fully to empower them and develop a large section of society socially and economically.

Industry reports suggest majority of women entrepreneur establishments in Bihar are self-financed. Only 5% received financial assistance from the government, while just 1% have borrowed from formal financial institutions. This in spite of the government announcing a Rs 500 crore Bihar Startup policy in 2017 and trying to completely digitise the process through the startup.gov.in website.

“Most of us are not aware of the various government policies/incentives for women entrepreneurs implemented by the central and state governments,” rued Ruby Sinha, Founder, sheatwork.com – a one-stop knowledge hub for women entrepreneurs at the inaugural session of “sheatwork.com AatmaNirbharShe Entrepreneurship Dialogues” here on Tuesday. Concurred Himani Mishra, Co-Founder and CEO of Brand Radiator: “It is important for the State Government to formulate a woman-friendly business ecosystem. Some of these include relaxation in strict eligibility criteria, turnover capping and mapping the appropriate skill among women population based on their expertise.”

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According to Himani, however, when a woman determines to start her own venture in Bihar, the challenges she faces are more on credibility of commitment and societal structure than real business problems.  Usha Jha, President, Bihar Mahila Udyog Sangh, pointed out that the biggest problem for women in the state was  lack of exposure and communication skills due to which women entrepreneurs of the state were unable to present themselves on a national and international stage. “Women are half the population but their contribution to business as entrepreneurs has not yet received its due credit,” she said.

Yet another woman entrepreneur, Soniya Sanjay Sinha, vice chairman – Frontline Business Solutions, who is also vice president of the BJP Purvanchal Morcha, felt that the major challenges that women entrepreneurs face in the state included family pressures, upbringing, society, and gender and socio-economic stereotypes. “As soon as people hear that you are a woman from Bihar, you find two speed breakers in your path. You have to prove to naysayers that you are an empowered and a capable woman entrepreneur, even though you may be from Bihar. A strong-headed woman can beat all odds of the society if given the right amount of push and encouragement,” she said. Usha Jha, though argued, “Women are half the population but their contribution to business as entrepreneurs has not yet received its due credit.”

Sanjeeva Shivesh, Founder and CEO, The Entrepreneurship School, exhorted women to become the nebulous of entrepreneurialism for all around benefit to every section of the society. “A broad-based inclusive ecosystem-based approach by engaging youth, business community, educators, investors, lower bureaucratic hurdles and right incentives should be the way forward,” he felt.

The panel agreed that many more businesses had embraced digital tools in the wake of COVID-19 and women needed to understand and accept that such digital marketplaces could support their ventures. “To the women folk, I would like to say that more and more businesses are embracing the digital route in the wake of COVID 19. So, one must work towards solutions which are future ready and can sync with the changing times. It is not only survival of the fittest, but the one who adapts to change survives and excels,” Himani said.

The online discussion with its focus on unlocking the potential of women entrepreneurship in Bihar was the first in a series of webinars aimed at highlighting the state of women entrepreneurship across various Indian states. According to the panelists, there was need for women to be made aware of product listings, social media presence, GST requirements, aggregators, among other things to be successful businesswomen. The panel opined that the overall state of entrepreneurship in Bihar remained challenging and the biggest problem in taking advantage of government policies was that women at the ground level were not aware of the policies that existed.

“Changing the mindset to a pro-business mode was the need of the hour and adopting local resources to go global can be the mantra for success.,” the webinar concluded.

– globalbihari bureau

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