THE SUPPORT OF MICROFINANCE AND GOVERNANCE SCHEMES IN THE TRANSITION OF WOMEN ENTREPRENEURS FROM HOME-BASED ENTERPRISES TO FORMAL SMES: A CASE STUDY ON KAMRUP, ASSAM

Abstract

Support of microfinance and governance schemes for women entrepreneurs has been considered as the key strength in starting a formal SME.
In Kamrup, Assam access to private and government institutions has provided women empowerment over the years. Available schemes, such
as NITI Aayog, MSDE, PMMY and others are meeting the financial needs of women entrepreneurs to start their own business. However,
complexity in documentation, higher interest rate, lack of awareness and collateral requirements are causing issues for women entrepreneurs
to access required funds. Compared to men women have limited access to resources to start their own business. In this regard, the requirement
of funds for women entrepreneurs are comparatively high. This study has selected a primary quantitative method for understanding the
significance of MFIs and other government funds for supporting the growth of women entrepreneurs in starting their own formal SME. A
population of 111 participants including men and women submitted their responses through an online survey for gathering information on the
support of MFIs and governance schemes. This research has concluded that a simple and easily accessible funding option for the women
entrepreneurs are more significant to provide support in starting the formal SMEs.