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Only a tenth of small businesses who availed credit in FY20 led by women: Report


MUMBAI: Women-run enterprises constituted only a tenth of the small businesses which availed credit in FY20, a multi-city survey said on Friday.


Official data says women-run enterprises constituted for 14 per cent of the overall base of 58.5 million entrepreneurs as of 2018, Neogrowth Credit, which did the survey, said.


Its survey of 17,000 micro, small and medium enterprises in Mumbai, Delhi NCR, Hyderabad, Pune, Bengaluru, Lucknow, and Ahmedabad, revealed that businesses which are run by women, having them either as sole proprietors, partners or directors, accounted for only 10.8 per cent of the disbursements in FY20.


The survey findings come even as efforts on women empowerment are being undertaken through measures including lower interest rates for loans.


It also said that over half of the survey respondents were first time borrowers and added that a lack of credit history or credit scores usually makes it difficult to avail credit.


The survey further said that over three fourths of the borrowers were first generation businessmen.


Over a fourth of the surveyed businesses said they have witnessed a surge in employee hiring since availing a loan, it said.


The company said it has been doing this survey on an annual basis to assess the social impact of lending and also to understand the challenges faced by stakeholders. The company has disbursed over Rs 5,500 crore in loans to various borrower segments.

Only a tenth of small businesses who availed credit in FY20 led by women: Report Only a tenth of small businesses who availed credit in FY20 led by women: Report Reviewed by TechCO on 7/17/2020 Rating: 5

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