Women-owned businesses are increasingly recognized as a driving force behind economic growth and development worldwide. Women entrepreneurs bring unique perspectives and skills to business ownership, and their contributions can have a significant impact on local economies and communities. In fact, studies have shown that women-owned businesses have a positive impact on the job market, GDP, and overall economic growth of nations.
Women entrepreneurs often face unique challenges when starting and growing their businesses. One of the significant barriers they face is access to financing, which can be a major hurdle in their journey towards success.
India is the second-largest crude steel producer in the world, with 10.14 MT and is projected to grow 6.7% in 2023 from 6.1% in 2022, according to WSA's short-range outlook. According to a report from Ernst & Young (EY) and the Confederation of Indian Industry (CII), The Indian Steel Industry is expected to play an integral role in steering the country into a $5 trillion economy by 2025. The sector, which contributes around 2% of India's GDP and indirectly employs close to 2 million people, has been growing at a CAGR of about 5-6 % year-on-year.
"Finding your calling" refers to discovering a career or profession that aligns with your personal values, interests, and strengths. It is a rare and highly desired professional goal because it allows individuals to experience a sense of purpose and fulfilment in their work. When employees find something about their job that truly inspires them, they are more likely to be engaged, motivated, and committed to their work.
Starting a business in India can be a challenging task, especially for small business entrepreneurs who have limited resources and support. However, despite facing various hurdles, many small business entrepreneurs in India have shown an incredible amount of tenacity and resilience in their entrepreneurial journey.
Many small businesses need to expand their scope and footprint to find new opportunities. However, their growth can stagnate if the entrepreneur can't find the financing to fund this expansion.
The machinery and machine tools industry in India is an important sector of the country's manufacturing industry, as machine tools are essential for the production of a wide range of goods, including automobiles, aircraft, defense equipment, and consumer and industrial products.
Business development is crucial for any company to survive in a competitive market and create a niche of its own. This required capital, which can be invested in building efficiency and offering products and services that customers gravitate towards.
The MSME (Micro, Small and Medium Enterprises) sector plays a vital role in the Indian economy, contributing to employment generation, exports, and overall economic growth. However, one of the significant challenges faced by MSMEs in India is the lack of access to adequate credit.
Some entrepreneurs are blessed with instant success when they launch their enterprise, and reap the benefits of it as they grow. However, for many, it’s a real struggle to get the business off the ground and the first few years are marked by difficulties and disappointments.