In accordance with the company’s goal of providing financial inclusion, the Indian arm of the international consumer finance provider, Home Credit, has partnered with SEWA Bharat to launch a livelihood project for female nano-entrepreneurs.
Nano-entrepreneurs are those individuals who start ventures with very little seed capital. A developing country like India has many such entrepreneurs who despite having creative ideas and business solutions, are unable to carry on due to financial woes.
Keeping in like with Home Credit’s crusade for Financial Inclusion and Financial, Digital Literacy in India, this latest project will come to the aid of such nano-entrepreneurs who are forced to give up their start-ups due to incurred losses.
Home Credit India’s initiative will allow these female entrepreneurs to train themselves and acquire skills which are necessary in today’s world. The acquisition of such knowledge will enable these aspiring women to tap into potential markets and become a part of the digital world. With the ongoing pandemic, most businesses have turned to e-commerce and reskilling these women becomes vital if they are to keep up with the changing times.
What this means is that these nano-entrepreneurs who hail from marginalized backgrounds and work as artisans, weavers, garment makers, shoe makers, etc. will have to pick up skills which will be alien to them. The project will provide them with all necessary materials and guidance on product development which will help them going forward. All this is being done to assist them in developing new products which can find their own niche in the market.
Nidhi Malik, VP, CSR and Communications, Home Credit India, said, “The pandemic has led to the loss of capital for a majority of nano entrepreneurs and disabled them to start afresh. Our partnership with Sewa Bharat on this mission is to enable these artisans to restore their livelihoods and more importantly the confidence. Through this humble initiative, we aim to impart the desired digital and financial skills to make these 500 nano entrepreneurs bounce back and become self-reliant.”
Sanchitra Mitra, National Coordinator of SEWA Bharat, talked about the activities of the organization and its outreach programmes and how the pandemic had affected the livelihoods of the invisible poor. She also mentioned how the marginal workers were learning to adapt to the digital world to gain access to finance and upskilling programs.
Commenting on the partnership, she added, “We are incredibly happy to announce that SEWA Bharat has partnered with Home Credit India to support 500 artisans & weavers with raw materials and product development at a time of extreme need. This association would also help in building up their capacity to deal with this newly adopted virtual marketing space.”En