Urgent need to increase sales, marketing channels for women entrepreneurs in Bengaluru to scale up their businesses: Study

News Network
August 22, 2020

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Bengaluru, Aug 22: There is an urgent need "to increase sales and marketing channels" for women entrepreneurs in Bengaluru to run and scale up their businesses, and make them finance ready so that they can access capital, according to a study.

The study report released by Global Alliance for Mass Entrepreneurship (GAME) and consulting firm Sattva also noted that there has been a sharp decline in their revenues due to COVID-19.

"The study finds that for women entrepreneurs in Bengaluru, to run and scale their businesses, there is an urgent need "to increase sales & marketing channels and make them finance ready" so that they can access capital. While women entrepreneurs in the region face formidable challenges, the combination of new market platforms, peer-support networks, capital will make women entrepreneurs a force to reckon with before the end of the decade," read the release by GAME.

The majority of the research participants were middle-aged, educated women entrepreneurs from lower-to-middle income households.

The purpose of the study across priority sectors like food, apparel, health and wellness and education in Bengaluru is to build a nuanced understanding of women-owned small businesses and to ensure that efforts made to enable growth are mapped to the differing needs of the segment.

At a time when COVID-19 has disrupted businesses across the world, women entrepreneurs in Bengaluru bear the brunt too as their revenues dipped by 60-80 per cent due to the pandemic, the study pointed out.

For all entrepreneurs, COVID has reduced their revenues by 60-80 per cent, the report highlighted. The study identified them into Solopreneurs (64 per cent) and Nanopreneurs (36 per cent). Solopreneurs are entrepreneurs who run their businesses on their own i.e. they do not hire paid employees or workers while Nanopreneurs employed at least 1 worker apart from themselves.

Of the interviewed entrepreneur pool, Strivers (Nanopreneurs earning less than Rs 60,000 a month and having grown their teams for business expansion) had an 80 per cent decline in revenue due to reduced customer footfall, the report underlined.

As per the study, 53 per cent of the participants had their monthly household income below Rs 50,000, 84 per cent women entrepreneurs use personal savings for capital needs and also tend to rely on friends and family, 97 per cent of the women entrepreneurs hired less than 5 paid employees/workers and 67 per cent entrepreneurs had been running their businesses for under 5 years.

Formalization is higher among nanopreneurs with 78 per cent of them having registered businesses versus 27 per cent solopreneurs.

The study pointed out that with limited financial literacy, 80 per cent of Seekers either maintain rough books of accounts or do not maintain any books while 46 per cent of Aspirants were able to make pivots in their business post-COVID by working on strengthening their online presence during this time.

"Nanopreneurs sub-segments - Strivers who employ between 1-5 people with business monthly revenue of less than Rs 60000 and Achievers with business monthly revenue between than Rs 60,000 and Rs 2,00,000. Nanopreneurs sub-segments - Strivers who employ between 1-5 people with business monthly revenue of less than Rs 60000 and Achievers with business monthly revenue between than Rs 60,000 and Rs 2,00,000," read the release.

A few findings of the Study have helped understand that there is a need to immediately help women entrepreneurs transition from building businesses using personal savings/borrowings to small sized affordable finance to expand the reach of their business, read the release.

Talking about the study, M Srinivas Rao, CEO, GAME said, "GAME's mission is to catalyse 10 million mass entrepreneurs in India by 2030, half of whom will be women. Our study in Bengaluru focused on the four sectors of Food, Apparel, Healthcare and Education that typically have more women entrepreneurs compared to other sectors."

"Noticeably, even across these four sectors, only 15% are women-owned and of these only, 4% employ greater than 5 people. This shows that we have a long way to go. The Study reinforces the sentiment that while women in Bengaluru have many opportunities to build entrepreneurial ventures, the ecosystem lacks in supplementing them with the adequate resources, infrastructure and freedom," he said.

Dr Rajeswari Ranganathan, President, Association of Women Entrepreneurs of Karnataka (AWAKE) said that Financial Literacy and Awareness, Technology and Digital Literacy and Nurturing of an entrepreneurial mindset are key areas of support for all categories of women entrepreneurs.

Aarti Mohan, Co-founder and Partner at Sattva Consulting said that COVID's impact has made lack of access to affordable credit, more so for women entrepreneurs, a central issue.

"Gendered factors in access impede these women entrepreneurs from applying to formal credit. The need of the hour is to bring them under a formal and affordable credit system to help them scale their business," she said.

"With COVID severely affecting businesses, women entrepreneurs need to relook at their business models. As an immediate recourse keeping in line with the new normal, they should be looking at online channels like social media and eCommerce platforms to sustain business. In the mid-to longer term, women need to access more government schemes and stimulus including financial assistance to recover from their negative cash flow," she added.

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News Network
April 7,2025

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Rafah, a city along the border of the Gaza Strip and Egypt, has entirely been “wiped off the map” by Israel’s brutal campaign of genocide and ethnic cleansing, says the Gaza government media office.

The media office said Sunday in a statement on X that the southern city of Gaza has entirely been demolished to make way for Israel to turn it into a “closed military operations zone."

The statement said Israel’s military forces have been carrying out “horrific massacres against defenseless civilians” in Rafah, creating a “full-fledged humanitarian disaster.”

According to the officials, Israeli forces have destroyed over 90% of homes—more than 20,000 buildings in Rafah.

All of the historical buildings, archaeological sites, museums, modern homes, the civilian infrastructure, the shops, cafes, restaurants, hospitals, schools, and universities have been demolished.

The officials said the regime's forces have also demolished 22 of 24 water wells, including a large water treatment plant and facility that was built 25 years ago by the Canadian government.

“Tens of thousands of families” are now without safe drinking water, and over 85% of the sewage system has been destroyed, raising fears of disease outbreaks, said the statement.

At least 12 medical centers are out of service, including Abu Yousef al-Najjar Hospital, which was reportedly blown up by an explosive robot.

Rafah is “uninhabitable,” now, the media office said.

The Israeli military’s goal, it said, is to “empty the land of its people and alter its geographic and demographic features.”

Rafah, a city that was built over 3,300 years ago, had a population of 171,889. As recently as February, 1.4 million Palestinians took shelter there as a result of Israel’s forced displacement of the population in northern parts of the besieged enclave.

The city, which was once designated as a "safe zone" by Israel's military, has now been reduced to rubble. The regime's military has now seized the ruins of Rafah and ordered every survivor out, to expand its "security buffer zone" along Gaza's borders.

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News Network
March 30,2025

Eid al-Fitr 2025 was marked with grand celebrations across the Middle East, as millions of Muslims came together to pray, feast, and rejoice. However, amid the festivities in Saudi Arabia, the UAE, Qatar, and Kuwait, Gaza stood in mourning. The ongoing conflict and devastation in Palestine turned what is usually a time of joy into a period of sorrow and survival for many Palestinians. While some regions witnessed fireworks and public gatherings, Gaza endured airstrikes, hunger, and loss, painting a stark contrast to the celebrations elsewhere.

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Muslims attend mass Eid al-Fitr prayers marking the end of the holy fasting month of Ramadan in Dubai, United Arab Emirates, Sunday, March 30, 2025

Gaza: Eid Amid Destruction and Mourning

In Gaza, the usual festive spirit of Eid was shattered by grief and destruction. Israeli airstrikes claimed the lives of several civilians, including women and children, leaving families mourning rather than rejoicing.

The usually vibrant markets of Gaza, once filled with people buying sweets and new clothes for Eid, remained eerily silent. Many families had no food to prepare the traditional celebratory meals, as ongoing blockades and supply shortages have left residents struggling for survival.

President Mahmoud Abbas declared that this year's Eid celebrations should be limited to religious observances, acknowledging the suffering of the people. In place of festivities, prayers were held for the victims of the war, and aid organizations worked tirelessly to distribute basic necessities to displaced families.

Saudi Arabia: Grand Celebrations Despite Regional Tensions

In stark contrast, Saudi Arabia witnessed grand celebrations with large-scale public events, concerts, and fireworks. The General Entertainment Authority (GEA) organized festivities across Riyadh, Jeddah, and other major cities. The night skies were illuminated with dazzling fireworks in places such as Boulevard World (Riyadh), Jeddah Art Promenade, and Al-Khobar Corniche.

Despite the revelry, many Saudi citizens expressed solidarity with Palestinians, with social media campaigns and fundraising efforts aiming to support those suffering in Gaza.

United Arab Emirates: A Festival of Luxury and Giving

The UAE celebrated Eid al-Fitr with traditional prayers, family gatherings, and a wide range of entertainment events. Dubai and Abu Dhabi hosted special cultural performances, and malls offered discounts and attractions for families.

However, amidst the celebrations, many mosques in the UAE emphasized the importance of charity, urging people to contribute to humanitarian efforts in Gaza and other conflict zones.

Qatar: A Blend of Joy and Concern

Qatar marked the beginning of Eid on March 30, 2025, with three days of public holidays and an extended break for government employees. Doha’s Corniche and Katara Cultural Village became focal points for celebrations, with thousands gathering to enjoy fireworks and live performances.

Nevertheless, Qatari authorities and charities continued their relief efforts for Palestine, highlighting the contrast between the joyous Eid atmosphere at home and the suffering of their fellow Muslims in Gaza.

Kuwait: Extended Holidays and Reflection

In Kuwait, Eid holidays provided a nine-day break for many employees, allowing families to come together in celebration. Traditional meals and prayers remained central to the festivities, but Kuwaiti media and religious leaders also focused on the plight of Palestinians, urging the public to donate and raise awareness.

A Tale of Two Realities

Eid al-Fitr 2025 presented a stark contrast between different parts of the Muslim world. While countries like Saudi Arabia, the UAE, Qatar, and Kuwait indulged in celebrations, Gaza stood in ruins, mourning its dead and struggling to find basic resources.

The divide between those celebrating and those suffering was more evident than ever, making this Eid a time of reflection for many Muslims worldwide. The call for peace and justice in Palestine echoed throughout sermons and speeches, reminding the world that while the spirit of Eid is about joy and gratitude, it is also about unity, compassion, and standing with those in need.

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News Network
April 1,2025

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As the new financial year begins, several significant financial and tax-related changes take effect from April 1, 2025. Many of these updates were announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025 and have now been officially approved as part of the Finance Bill 2025.

Some of the key changes include income tax exemption on annual earnings up to Rs 12 lakh, deactivation of UPI for long-unused mobile numbers, and suspension of dividend payouts for individuals who haven’t linked their PAN with Aadhaar. Below is a comprehensive look at all the important updates.

1. Income Tax Exemption & New Tax Slabs
Under the revamped tax regime:
✅ Individuals earning up to Rs 12 lakh per year will be completely exempt from income tax.
✅ For salaried employees, a standard deduction of Rs 75,000 raises the effective tax-free limit to Rs 12.75 lakh.
✅ To claim a rebate of up to Rs 60,000, taxpayers must file their returns on time.
✅ The new tax structure applies to income earned between April 1, 2025 – March 31, 2026, and will be reflected in ITR filings for FY 2025-26 (AY 2026-27).

2. Major Changes in TDS & TCS Rules
To provide tax relief and streamline transactions, several TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) amendments have been introduced:
🔹 TDS on bank interest for senior citizens has doubled from Rs 50,000 to Rs 1 lakh.
🔹 TDS on dividend income has increased to Rs 10,000.
🔹 TCS on overseas remittances under the Liberalised Remittance Scheme (LRS) has been raised from Rs 7 lakh to Rs 10 lakh.

3. UPI Deactivation for Inactive Mobile Numbers
The National Payments Corporation of India (NPCI) will start unlinking UPI IDs associated with inactive mobile numbers. If your number has been inactive for a long period:
🔸 Your bank may remove it from their records.
🔸 You could face disruptions in Google Pay, PhonePe, or any UPI-based transactions.
🔸 This change enhances security by preventing unauthorized access to old UPI-linked accounts.

4. New GST Rules
Several Goods and Services Tax (GST) updates take effect:
🔹 Multi-factor authentication (MFA) is now mandatory for logging into the GST portal, improving online security.
🔹 E-way bills can only be generated for documents issued within the last 180 days, ensuring better compliance.
🔹 Hotel room tariffs above Rs 7,500 per day are now classified as "Specified Premises," attracting an 18% GST on restaurant services.

5. Toll Tax Hike Across National Highways
From April 1, 2025, toll charges across various highways will increase:
🚗 Delhi-Meerut Expressway, NH-9: Toll for cars will rise by Rs 5 to Rs 170.
🚛 Trucks and buses will now pay Rs 580 on major highways.
🚗 Delhi-Jaipur Highway: The Kherki Daula toll plaza will maintain current rates for cars, but the monthly pass for larger vehicles will rise by Rs 20 to Rs 950.

6. End of Equalisation Levy on Digital Transactions
The Finance Act 2025 removes the Equalisation Levy, which previously imposed a 2% tax on e-commerce and 6% on online advertisements. This change aims to:
✅ Reduce tax burden on digital service providers.
✅ Attract foreign investments in India’s digital economy.

7. Positive Pay System for Cheque Payments
To prevent bank fraud, the Positive Pay System requires account holders to:
✅ Electronically submit cheque details for payments above Rs 50,000.
✅ Ensure the details match before the cheque is processed.

8. KYC Mandatory for Mutual Fund & Demat Accounts
🔹 KYC (Know Your Customer) verification is now compulsory for mutual fund and demat accounts.
🔹 Nominee details will also undergo re-verification to enhance security.

9. Major Credit Card Perk Reductions
Credit card users will see major perk reductions, particularly with SBI, IDFC First, and Axis Bank:
❌ SBI Cards will remove complimentary insurance coverage for accidents (Rs 50 lakh for air, Rs 10 lakh for rail).
❌ Reward points on SBI Cards will be slashed from 15% to just 5%.
❌ IDFC First Club Vistara cardholders will lose milestone benefits and Club Vistara Silver membership perks.
❌ Axis Bank is discontinuing Maharaja Club tier memberships and premium vouchers.

10. Minimum Balance Rules for Bank Accounts
📌 Major banks like SBI, PNB, and Canara Bank have updated their minimum balance requirements based on account location:
🏙 Urban branches will require higher minimum balances.
🏡 Rural and semi-urban accounts may have lower minimum balance thresholds.
🚨 Failing to maintain the required balance will result in penalty charges, varying by bank.

11. Unified Pension Scheme (UPS) for Government Employees
The Unified Pension Scheme (UPS), introduced in August 2024, takes effect:
✅ Central government employees under NPS can opt for UPS.
✅ Those with at least 25 years of service will receive 50% of their average basic salary as a monthly pension.

Final Thoughts

These changes, introduced as part of the Union Budget 2025, mark a significant shift in India's tax, banking, and digital transaction landscape. With higher tax exemptions, updated TDS & TCS rules, stricter banking security, and GST amendments, the new financial year aims to simplify compliance while improving financial security and economic efficiency.

Stay informed and ensure all necessary updates to your financial accounts to avoid disruptions.

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