New Delhi, March 7 (SocialNews.XYZ) Women-owned MSMEs hired 11 per cent more women employees than male-owned MSMEs, as per a data analysis of women-owned MSMEs by Kinara Capital.
The analysis further revealed that 1/3rd of all new jobs created by women-owned MSMEs went to women employees, thus boosting local economies.
Hardika Shah, Founder & CEO, Kinara Capital, said, “Women entrepreneurs demonstrated better repayment of their business loans, created more jobs for other women, and experienced an income increase for themselves.”
As per the analysis, women employees constituted over 32.4 per cent of all jobs created by women-owned MSMEs. Outperforming male-owned MSMEs by 11 per cent, women entrepreneurs contributed to increased female employment and economic development in their local communities. Women entrepreneurs across all three MSME sectors of Manufacturing, Trading, and Services, exhibited a higher degree of acceptance as women-owned MSMEs are evidently more receptive to women employees than their male counterparts.
Women MSME entrepreneurs exhibit a higher ability to optimise costs and drive income, the analysis said. When supported with resources, particularly formal credit, women-owned MSMEs showcased a 12 per cent rise in their organisation’s monthly revenue. What stood out even more was their ability to drive income growth. Women-owned MSMEs registered a 19 per cent increase in monthly net income, compared to 18 per cent by men-owned MSMEs, indicating better utilisation of resources and control over costs.
Women entrepreneurs demonstrated higher loan repayment diligence. According to the analysis, while only 3.4 per cent of the women entrepreneurs defaulted on loan repayment, the rate among men was higher at 4.6 per cent.
The study analysed data from 44,821 MSMEs across six states: Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, and Telangana, and the Union Territory of Puducherry.
Source: IANS
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