Women entrepreneurs desire mentorship, 65% have not taken a business loan: Report

financialexpress.com

Is availability of funds and lack of awareness a matter of concern for women keen in taking the entrepreneurship route?According to a report by DBS Bank and CRISIL, 65 per cent of self-employed women in Indian metros have not taken a business loan and 30 per cent of self-employed women rely on personal loans to fund their businesses. Lack of awareness about Govt schemes is also a major highlight of the report. The report is the third in its ‘Women and Finance’ series that surveys 400 self-employed women in 10 Indian cities and reveals that  those who have opted for loans, bank loans are a priority among 21 per cent of self-employed women. They often use personal assets for collateral in lieu of loans such as personal property 28 per cent and gold 25 per cent; it shows their preference to avoid risks. 64 per cent use gold as collateral, majorly to invest in savings accounts and gold as they are more safe investments. Read more