The changing face of business in J&K: Rise of women entrepreneurs
By: Amreen Jawaid
An innovator, a creator, a path finder, someone who rides through the rollercoaster of the curious human mind and pioneers ways to deal with the varsities life has to offer. Such is the grandeur associated with being an ‘entrepreneur’. To put it in simpler words, an entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. They play an immensely important role in the economic development of any region by using their skills and taking the necessary initiatives to anticipate needs and bringing new ideas to the market.
The past few years have seen a transient shift in the economy with an increasing number of individuals giving up their corporate jobs and starting up something of their own – it could be something that their heart is fond of, something that they feel would yield more benefits, something that is more acceptable to their ideals like working towards more sustainable lifestyles etc. – but each with a unified greater motive of being their own boss.
The past two years in the pandemic has aggravated this curve worldwide. Even as the world was and still is fighting hard against the catastrophic Covid-19, Indian entrepreneurs have created a record in setting up new ventures. There has been a massive 26% surge in the new company incorporation in FY21.A whopping 1,55,377 new companies were registered in India during FY21 compared with 1,22,721 in FY20, according to Rubix Data Sciences.
The story of Kashmir during this economic and professional shift has been even more noteworthy with the rise in the number of women entrepreneurs in the region. Increasing number of women entrepreneurs acts beneficial in a multitude of ways as they generated revenues helps them become financially independent, support their households, provide a better future for their families and grow – professionally and personally – to explore all the opportunities the world has to offer and live the best life possible.
As a business owner, there are innumerable hurdles that one might face – ranging from sourcing funds to entering the pre-established chains of existence in the market amidst the sky-rocketing competition and so on – to ease this process for the female entrepreneurs of Kashmir, a program has been launched by the government, known as ‘Hausla’. True to its name, the scheme has indeed reinforced the Hausla (belief) in the hearts innumerable women entrepreneurs since its existence. With the aim of building a comprehensive programme for Women Entrepreneurs of J&K which can serve as a guide for achieving success in their business. GoJK through this initiative aims to provide the thriving entrepreneurs with Access to Finance, tie-ups with various banks, Policy Incentives, Credit support from Mission Youth JK, Access for selling products via e-Commerce platform as well as access to free stalls in various known exhibitions to showcase their products and increase their reach.
Several other schemes are ongoing in the region which have capacitated the women of the region. Starting a business – a job that was earlier only stereotypically connected to a man, is now being fully accepted and encouraged as an avenue for women in Kashmir to explore and flourish in. this change isn’t only limited to the cities, many women in the rural areas of Kashmir have started setting up their own ventures with aid from government schemes as well. According to Dr Syed Sehrish Asgar, mission director of the Jammu and Kashmir Rural Livelihoods Mission (JKRLM), more than 4.5 lakh women have signed up for one initiative, Umeed, and approximately Rs 1,000 crore has been granted to help them. ‘Umeed’ scheme has brought with its existence the chance for women to get credit through self-help groups to initiate their business or fund it during the process. The Jammu & Kashmir State Rural Livelihood Mission provides assistance to self-help groups (SHGs) in the form of a revolving fund, community investment fund, and bank linkage under this scheme.
Ms.Nusrat Jahan, is one of the most successful women entrepreneur who is an engineer by qualification but left her job to start her own franchise of a leading floral organization and today is world renowned with exports nationally and internationally to various destinations. Another success story is of our very own ‘Bat Woman’ – Ms.RifatMasoodi who is the sole woman bat maker in Kashmir. She received tremendous support from her family and two children and has ignited a sense of motivation amongst various young girls – to be job creators rather than job seekers, to follow their passion, their heart and their interest.
This new drive definitely has immense potential to direct the future of the women of Kashmir towards brighter days. This change shall also retrospectically direct more girls to gain education while prospectively enhancing their confidence, self-trust and financial standing – making them stronger and self-reliant.
The writer is a Gender and Development Researcher & social activist.
