According to a private poll released women-led micro, small, and medium companies (MSMEs) have a tough time raising cash from the markets and together face a $158 billion financing shortfall. Despite the fact that the number of such women entrepreneurs in the nation has increased over time, the poll indicated that they still rely heavily on informal sources of funding.
“The number of women-led MSMEs in India has jumped from 2.15 lakh to 1.23 crore in just a decade. However, they face a finance gap of $158 billion and largely rely on informal sources,” said Indifi Technologies which released the survey titled “Understanding What Women-Led MSMEs Want.”
The Gurgaon-based fintech initiated the poll to better understand the requirements and difficulties of women-led companies and to allow more diversity in the lending industry so that they may thrive and expand. As many as 62% of poll respondents claimed that acquiring funds, managing business operations, and obtaining a credit term from vendors or suppliers was more challenging for them as business owners. More than 250 female entrepreneurs took part in the poll. Insufficient credit history, years of business operation, and lack of property ownership are among the qualifying criteria difficulties that survey participants experience when seeking credit or business loans from banks and NBFCs.
