To adapt to the changing times, there needs to be a change in the working strategy of women entrepreneurs in the Micro, Small and Medium Enterprises (MSMEs), according to industry experts.
“Markets are closed and consumers are not ready to buy anything other than essential items. So, we need to change our working strategies. There is a dire need to sensitise women to reposition themselves in the industry,” said Shashi Singh, Chairperson, Consortium of Women Entrepreneurs of India (CWEI).
CWEI has also requested the government to provide social security for women who are dependent on day-to-day earning through micro loans and provide moratorium for six months with no interest on these loans.
“Women should be prepared to acquire digital skills as there are times when we face problems in reaching out to women living in the aspirational and under developed areas,” said Singh.
Industry experts said that it is imperative that within the MSME sector, women entrepreneurs and workers are supported during this crisis. The ability to bounce back from this crisis depends on how everyone is included equally.
Covid impact
“The impact of the Covid-19 pandemic is not gender neutral. We see a disproportionate impact on women and women-led businesses as these businesses typically operate in the trade and service sectors that have directly been affected by social distancing measures. Tourism, airlines, hospitality, food and beverage, salons, etc. were the first casualties of coronavirus. As most vocational skills are not easily transferable, women employees will have to re-skill to survive thereby increasing expenses and reducing opportunities. Also, women are more likely to lose their jobs than men,” said Rhea Singhal, CEO and Founder, Ecoware.
Kamna Raj Aggarwalla, who heads marketing and product development in GDPA fasteners, said, “We want that the government to come up with an easy method for funding this sector”.