Women at the top echelon of business is no longer a once-in-a-lifetime moment. Worldwide, women are doing revolutionary things in the business landscape and breaking stereotypes left and right. For this reason, government schemes for women are also becoming prominent. Pretty much every top economy has specific schemes in place to ensure greater contributions from women in the business landscape. Today, we will list the best schemes the governments of the top five economies of the world are offering to their women.
Top Government Schemes for Women
The schemes we will mention are listed according to the size of the economies. So, let’s discuss the US first, then China and make our way to India.
The United States of America
Here are the top government schemes for Women from the USA.
Women’s Business Centres (WBCs)
These schemes provide women with a network of over 100 institutions nationwide and offer training, counselling, and capital to women entrepreneurs. According to the Small Business Administration website, the scheme helped around 64,000 women in 2020, resulting in more than 3000 new businesses.
SBA 8(a) Business Development Program
This addition to the existing SBA or Small Business Administration law, section 8(a), offers business development assistance to small and struggling businesses, including those owned by women. In FY 2019-2022 $30.4 billion was distributed under the scheme, out of which a significant portion was given to women entrepreneurs.
People’s Republic of China
Although not a lot, China does have some good government schemes for women entrepreneurs.
Women’s Business Innovation Fund
This fund, formed by the All-China Women’s Federation, provides financial assistance and training to women, particularly in the country’s rural regions. Although not much data is available, some sources say it has supported over 100,000 businesses.
Youth Business China
A non-profit program that offers mentorship, seed funding, and training to young entrepreneurs, mostly women. According to sources, Youth Business China (YBC) assisted in the creation of 1,100 micro and small enterprises, generating over 12,000 job opportunities and training more than 200,000 youth. Notably, 45% of the participants during that period were female.
Japan
One of the top economies in the world, Japan has some of the best government schemes for women entrepreneurs.
Women Entrepreneur Centres
As mentioned previously, the WECs offer support to women entrepreneurs. Since its launch, the WECs have supported more than 5,000 women to either start or improve their businesses.
Japan Finance Corporation’s Women, Youth, and Senior Entrepreneurs Program
It provides low-interest loans to women entrepreneurs to encourage new business startups. In fiscal year 2020-2021, approximately 1,200 women received low-interest loans under this government scheme for women.
Germany
Here are the top government schemes for women entrepreneurs in Germany.
FRAUEN Initiative
This is one of the best government schemes for women. It helps female entrepreneurs with mentoring and networking. Since its inception, the initiative has reached over 10,000 women.
Gründerinnenagentur
This is another initiative by the German government that offers consulting services, finance, and support to women entrepreneurs. Since its inception, the agency has assisted over 15,000 women.
India
India has emerged as one of the best nations for women looking to enter the entrepreneurial landscape. Here are some of India’s government schemes for women.
Stand with India
Launched in 2016, this scheme facilitates bank loans between ₹10 lakh and ₹1 crore to women entrepreneurs, as well as Scheduled Caste (SC) or Scheduled Tribe (ST) borrowers. As of April 2023, over 180,000 entrepreneurs have benefited from the scheme, with over 80% of loans directed towards women entrepreneurs.
Mahila Udyam Nidhi Scheme
Managed by the Small Industries Development Bank of India (SIDBI), this scheme provides financial assistance of up to ₹10 lakh to women entrepreneurs to set up new small-scale projects. The scheme has empowered numerous women by facilitating access to capital, enabling them to establish and expand their businesses.
