SME Futures Editorial
The Women Entrepreneurship Platform (WEP), under NITI Aayog, has launched a groundbreaking pilot program in partnership with Urban Company to empower women-led micro and small enterprises (MSMEs) in the beauty and wellness industry. This initiative aims to provide women entrepreneurs with the tools and support needed to grow their businesses and make them sustainable.
As part of the pilot, 25 women entrepreneurs from Delhi-NCR, running small-scale or micro-businesses, will be selected through an open application process. They will receive specialised training across six critical areas: skilling, legal and compliance frameworks, access to finance, market strategies, business development, and mentorship. Networking opportunities will also be provided, equipping these women with the resources to scale their businesses.
Anna Roy, Principal Economic Adviser and Mission Director of WEP, emphasised the importance of such initiatives, stating, “Supporting women entrepreneurs is vital to achieving women-led development. This partnership will not only provide comprehensive support but also help create a robust ecosystem for women in the beauty and wellness sector.”
Women entrepreneurs form a significant portion of the MSME sector in India, particularly in industries like beauty and wellness, where they dominate the workforce. However, many women in this sector operate as micro-enterprises with limited access to resources, training, and growth opportunities.
By targeting these underserved segments, the WEP-Urban Company partnership will empower women MSME owners to transition from informal operations to structured, scalable businesses. Access to legal compliance frameworks, financial planning tools, and market strategies will enable them to formalize their businesses, tap into larger markets, and achieve long-term growth.
Why this matters for MSMEs
Enhanced skills and competitiveness: The program addresses critical gaps in business skills, making MSMEs more competitive in the market.
Financial inclusion: Access to finance will open new avenues for investment and expansion.
Market access: Business development services will help women entrepreneurs connect with larger markets, increasing their customer base and revenue streams.
Sustainability: The training and mentorship provided aim to ensure the long-term viability of these businesses.
Since its inception in 2018, WEP has engaged over 30,000 women entrepreneurs and transitioned into a public-private partnership in 2022. This collaboration with Urban Company is a continuation of its mission to strengthen the women entrepreneurship ecosystem and foster women-led development.
