BharatPe Group and Women Entrepreneurship Platform Join Forces to Empower Women Entrepreneurs Across India
BharatPe Group Partners with WEP to Empower Women Entrepreneurs and Build a Thriving Ecosystem in India
31 March 2023
To support women entrepreneurs in India, BharatPe Group collaborates with the Women Entrepreneurship Platform (WEP).
The collaboration seeks to create a strong ecosystem that gives female entrepreneurs the information and tools they need to achieve their professional objectives.
The project, which is a component of BharatPe's corporate social responsibility program, aims to remove obstacles that Indian women business owners encounter.
One of India's top fintech companies, BharatPe Group, has teamed up with the Women Entrepreneurship Platform (WEP) to support female entrepreneurs throughout the country. The cooperation intends to create a strong ecosystem that brings together female entrepreneurs from all regions of India and gives them the technical and financial know-how they need to achieve their business objectives. Facilitating the creation of an aggregator platform that provides access to peer assistance, mentoring, networking opportunities, and a variety of learning materials will be the primary focal area.
The relationship was established as part of the BharatPe Group's corporate social responsibility program, "BharatPe Cares." This particular project is a part of PAYBACK's CSR initiative, a BharatPe firm. The alliance intends to remove the impediments that women entrepreneurs encounter throughout India and to create a level playing pitch where women have equal possibilities for advancement.
Women make up just 8.05 million of India's 58.5 million entrepreneurs, or 13.76 percent of all entrepreneurs, according to the Ministry of Statistics and Programme Implementation's sixth economic census. According to this statistic, women need to be given more control so they may pursue their aspirations as business owners. As a result, the collaboration strives to support female entrepreneurs in their quests for independence and company expansion.
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The CFO and interim CEO of BharatPe, Nalin Negi, claimed that women in India had a tremendous amount of untapped entrepreneurial potential. The biggest obstacle facing female solopreneurs and small company owners is a lack of access to financial knowledge, networking opportunities, mentoring, and funding chances. In India, women entrepreneurs have the potential to create 150–170 million employment by 2030, which is more than 25% of the total number of new jobs needed to accommodate the country's working-age population. Encouraging women's entrepreneurship will increase the economy by creating jobs and is essential to growing India's economy to a US$ 5 trillion one.
The entrepreneurial environment in India is booming, but women-led firms still require a lot of help to scale their operations, according to Anna Roy, Mission Director for WEP. Due to their exclusion from networking events and mentorship possibilities, female entrepreneurs suffer an unfair disadvantage. By utilizing the network of diverse ecosystem players, WEP seeks to offer a continuum of assistance to female entrepreneurs. This huge and developing network of partner organizations has gained another significant stakeholder with the relationship with BharatPe Group, combining their efforts to level the playing field for female entrepreneurs and widen the pipeline for more women to launch their businesses.
To assist capability development and provide female entrepreneurs with the specialized expertise they need to build their firms, BharatPe will also allow the creation of learning resources that have been curated around certain industries. The alliance intends to empower female business owners throughout India to accelerate the expansion of their enterprises, provide more employment opportunities, and develop India into a US$ 5 trillion economy.