How Women Can Self Finance to Start a Business of their Own?
There are many women in our country who have this desire of starting something of their own, instead of opting for a full-time 9 to 5 job outside. But, one main hitch that stops them from starting their own business is “where to get the start-up money”. Women, especially belonging to the middle class families of urban and semi-urban areas, have tight budgets and family expenses. Even if they have amazing business ideas, lack of capital prevents them from starting their own business. We present below few tips on how to accumulate free start-up capital for all women who want to start their own business and invest in their future.
Think of a business idea that you are confident of: First of all, start your business on something that you know. It should be build around your own personal expertise, skills and knowledge, something that you are confident of, and something that you can start without any third-party help, be it consultants, workers or any outside assistance. The less you rely on outside sources, the more you can save for yourself.
Tap your personal savings: One of the easiest ways to finance a small business is tapping your own personal savings. This can be from sources like as from your own saving account, some old investments in fixed deposits, family inheritance, gifts and rewards in the form of money and not to forget those some small amounts of money saved from your monthly budget given to you by your husband.
Advertise your business for free: Let everyone you know, be it your friends, family, relatives, neighbours, past colleagues, business contacts on what you are doing. Call them, send messages, Whatsapp them about your new business. Make your new venture known to your social media friends. And if you are lucky, your friends and family members can help you spread the word. This type of marketing at grass root level is without any investment. Take advantage of free advertising and marketing.
Avoid overspending: Remember, you still have your family to take care of, you are still in tight-budget constraints, your monthly family expenditures will remain the same or may increase and these cannot be avoided. What you can avoid though is unnecessary expenses. Make use of discount cards to do shopping, wait for SALES seasons, try to buy wholesale stuff for groceries, avoid bringing home fast foods or eating out, instead opt for eating a home-cooked meal, skip beauty parlours and learn to do your own pedicures, manicures, threading or colour your own hair, avoid buying that expensive dress that you had long awaited for. Remember, such small bits of sacrifices will repay you in the long run.
Start your business from home: If you start the business from home, you can avoid a huge expense in getting an office space outside. Convert a small room of your house or a portion of your backyard or your store room or just a corner into an efficient office space.
Get work in advance: One way to self finance your business is to get advance commitments in work. Before plunging on to your new business idea, make sure that you have aleast 1 or 2 business projects in advance. Your former boss (if you have left the company on good terms) or your good friend/neighbour/relative is often a reliable source to give you your first project of your start-up work. And if the first project goes off well, their recommendations will help you to get your initial stream of work and income.
Start a part-time job: If you have skill and experience and if you really need some extra money for your start-up, one good way is to get a part-time job. Save up your earnings by working part-time until you have enough money to start the business. A part-time job can supplement the money that you need for your new business
Get rented equipment or tools or buy used products: This is another way to start a business. You definitely need infrastructure (computers, office furniture, phones, supplies, other tools and equipment) to start your business. Try to get these items on a rental basis or else opt for purchasing second-hand products. This is all the more helpful when you are not sure exactly what and how much you require. And when there is an inflow of cash from your business, you can buy these items as per your needs. Shop smarter to build your initial capital.
Apply for a bank loan: Last but not the least, apply for a small loan under government-aided funding programmes. Several public-sector banks like State Bank of India, Andhra Bank, Bank of Baroda, etc. offers bank loans at low rate of interest under Government business loans. This will help you to manage your daily operational expenses, expansion costs for your business.
There are various ways to self finance your business. Don’t let shortage of capital prevent you from taking the plunge in starting your own start-up.
And yes, to make your business known to others, register yourself at www.womeninbusiness.in (A Platform for home-based entrepreneurs).
Can women battle stereotypes? Is a woman assertive enough to lead? If a woman has a successful career, does it mean she neglects her home? And if a woman balances her home and career, does it mean she is disloyal to her career? Call them issues, questions and points to be pondered or debated, the underlying highlight is that women still encounter the age old battle of which is more important – home or career.
Till date, society places the classical double bind on a woman. ‘Can a working mother raise healthy children?’ This is the archetypical question which comes to everyone’s mind. Another societal bias which a working woman faces if she chooses not to have children is that she is under constant scrutiny. Hungry for power, self – centred, indifferent, are the words which are attributed to her. Her society and family leaves no stone unturned to constantly remind her of the misdeed she is performing by not fulfilling the expectations of the society.
A survey by National Parenting Association, USA reveals that successful women assume more responsibility of home and children than their male counterparts. Working women devote more time to children. The primary level of stress which leads them to overburden themselves is ‘guilt’. Juggling a career and home is not just time consuming but requires a great deal of planning and strategising, and when a woman is trying to meet these, the label of ‘Good Mother ‘and ‘Bad Mother’ comes up. Good mothers raise their own children and bad mothers leave them at someone else’s care. Can anything be more conflicting when she is pitted against her own child’s future on one hand and her dreams, her aspirations or her ambitions on the other?
We have a vast population of women on who gave up their professions because of this epic battle. But the time has now come to herald a change. GharSeNaukri, the Job and Business opportunity portal for women believes in empowering her by allowing her to balance family and career. Women need to be included into the workforce by offering opportunities of various types and enhance their expertise and skills. Providing opportunities to work from home or start with a business venture working from home shall enable women workforce to get integrated and throw aside all stereotypical notions
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‘Work from Home’ woman improves their community and family life by doing the perfect balance, pitching in their expertise on opportunities and enabling a proactive community networking. GSN empowers these women working from home with various opportunities. GSN offers excellent opportunities for ‘Women entrepreneurs’ who are aspiring to start new business ventures. The challenges will be eased out by GSN in the Woman Entrepreneurship Program. Effective communication and advice shapes the lives of many and when Working from Home Mothers who are truly an inspiration become the Mentor, then success is not far off. GSN is the perfect interface for ‘DigiMums’…or as we put it ‘SocioDigiMum’. Empaneling with GSN ‘Business Program’ shall enable work from home mothers and women entrepreneurs to enhance their digital skills.
Every organization has a responsibility towards the development of the Nation. Its contribution is not limited only to economic development but also social development and investing in women is most productive and beneficial….because empowered women can make their own decisions……… families are healthier and the community progresses. And GSN is bang on the path….
Thus to conclude with a line from Robert Frost’s poem ‘A Boundless Moment’……. “Oh, that’s the Paradise-in-bloom,”…Yes let’s create the paradise…let the world of having economically empowered women not be a utopia.
Is it true that policy on women empowerment is only on papers? Is it a bitter reality that though women are an integral part of the social structure, yet her health, nutrition, economic equality is hardly a priority in the Indian society? If data speaks…then the situation is alarming! Do the majority of Indian women have access to equal opportunities of work? Unfortunately….a big NO! Women emancipation or equal opportunities for women in workforce is considered as one of the parameters of economic growth of a nation.
International Labour Organization states that between 2004 to 2011, Indian economy grew at a healthy average of 7%, yet India witnessed a decline in female labour participation from 35% to 25%. This raises the question of why the decline?….In urban areas we witness a lot of women belonging to various economic strata moving out of the houses to earn a living! So why we as a nation fair so poorly with Bangladesh and Indonesia when it comes to women economic empowerment?
World Bank states that there are 217 million missing women in India’s workforce and India has one of the worst gender gaps in labour force participation. Are these data real? Do these figures really matter in a normal Indian household? Is increase in women workforce really a sign of women emancipation? Modern urban woman, though perhaps not the majority, enjoy access to opportunities of various types – internet, social life, community bonding…..but here what matter is the realization that the appalling women labour force participation in India is a structural problem – social roles, family responsibilities….and the list goes on! Every woman has to understand her responsibility and realize that making her aspirations come true, is reflection of her true self!
Human Resource Planning is one of the most crucial requirements for any business/organization to sustain in the competitive milieu. It is also in the benefit of every organization to focus on diversity recruitment and a core component of their workforce should include women with flexible work hours. According to Knowledge Centre Catalyst Inc ‘If India can increase women’s labour force participation by 10 percentage points (68 million more women) by 2025, India could increase its GDP to 16%.’
India has a vast repository of potential women workforce. The question then here arises how to harness this power for a positive outcome. It is here that every organization should understand the tangible benefits that one achieves from hiring women on a part time or consultancy basis or providing short term/assignment based jobs. The bottom line thus is empowered women, high quality innovation and recruitment across a cross section of substantially talented women workforce.
Every organization has a responsibility towards the development of the Nation. Its contribution is not limited only to economic development but also social development and investing in women is most productive and beneficial….because empowered women can make their own decisions, families are healthier and the community progresses.
GharSeNaukri (GSN) is a unique platform to connect “Eminent Employers” like you and “Talented & Skilled Women Workforce” thereby creating a win-win business value proposition.
Our watchword to Corporate is “HELPING EMPLOYERS TO ACHIEVE NEXT LEVEL”.
Our journey started with the realisation that there exists a significant segment of women with niche skills who due to family responsibilities/career gaps or social pressure are unable to re-join the workforce.
Having successfully catered to many start-ups as well as established companies we now look forward to take work with you. Companies so far have approached us for profiles like Content developer(technical/Non-technical)/graphic designers/Developers / Quality Engineers/Product specialist/Research analyst/testers/Designers/Coders/MR/HR/Sales/HR/tester/Finance/CA/CS/CTO/Quality controllers/ SEO/CCE/subject matter experts/sales/business development/lead generation/medical coders/trainers/ virtual assistance/digital marketing/technical support/recruiters/ SMM Experts/FMCG/legal consultants and many such more profiles.
Kindly share your Complete JD by registering to our portal and help me know what are the other possible areas which we can explore and can utilize the skills of these talented Women workforce registered at our portal .
We request you to please visit our website www.gharsenaukri.com to know more about our work and philosophy Our aim is to see ourselves as the finest women job portals in the market and we look forward towards your support and collaboration.
It is not necessary that to travel kilometers everyday to a workplace to get paychecks credited to your bank account! There are many options for females to work from home as well. Here are the top five ideas where you do not have to work full time and you can still make good money.
Online Teacher: An average online teacher makes approximately $30000-$40000 and some also make more than this. You do not have to stand in front of a classroom and teach for hours. You can go live on Skype and teach the students who opt for online coaching.
Blogger: Owning a blog is amazing. You can start by writing about, hobbies, food, your passion, lifestyle, fashion or anything that you love. As the number of visitors increases on your page you can have google ads affiliation and start making money instantly. Bloggers who are consistent make $50000 a month as well.
Finance Planner: Incase, you are good with finance, this is the right thing for you. A good finance planner can not only advise clients but also plan for her family finance, How much to save? What are the best yielding investment options? When to invest? If you believe that every penny earned is a penny saved, this is the right thing for you.
Customer Sales Representative: If you are good at English and you can handle phone calls with patience. Then, Customer sales representative is the right Part time work for females, because you can take calls at designated hours when you are free. A customer sales representative makes approximately $9-$13 every hour. All you will need is a basic computer skill and an internet connection.
There is an aphorism in Hindi “Naam to suna hi hoga” so I surmise that each and every one of you would have heard the name of these rising ladies who are PV Sindhu, Sakshi Malik and Dipa Kamarkar. If women believe in themselves, the world is there to welcome them with both the hands. Isn’t it ladies? Yes what you need is impeccable instructor and pronounced people to carry you forward. Like rising stars needed mentor and so it’s needed by everyone. Continue reading “Women know the extent of their power…”