Historically, women in India have been known to produce sustainable goods and services. Whether it is tasty pickles in matkas (earthenware) or crochet goods knitted at home. While there is a world of knowledge of sustainable production that exists within them, the lack of access to formal financing has circumscribed their ability to transform their knowledge of production into becoming successful entrepreneurs.
One of the most pressing barriers for women entrepreneurs in India is the lack of access to formal financing. Financial institutions and investors for new businesses often require some sort of collateral. As most women from underserved communities do not have access to assets in their names, and without this, there are no means of collateral, obtaining loans becomes extremely difficult for them. As a result, these women rely on self-financing, support from their already not-so-well-to-do families, or, as a last case resort, the use of informal lines of credit that can be predatory in nature.
Another huge obstacle in their steps is the fact that whenever women from underserved communities wish to work or start their own business, certain societal expectations often discourage their independence and non-conventional roles, which is why many women require significant support to step outside of their comfort zones. Beyond just the financial restraints, social conditioning, and gender norms are prevailing issues too.
The lack of support from peers, limited access to guidance and mentorship, and professional networks means that most of these women have to navigate an entire business alone, significantly lowering their chances of success. In addition, many such businesses operate in the informal economy, meaning their businesses remain unregistered, and restrict their access to government funding, institutional support and other market opportunities.
Project HEERA was initiated to bridge this gap between potential and existing opportunities for women. By offering accessible business guides, training, grants, and supportive community spaces.