Telangana government initiative for women entrepreneurs WE Hub has entered into a memorandum of understanding with UK’s SME-focussed business financial platform Tide.
Under their year-long partnership, Tide’s India xhapter of ‘Women in Business’ will enable aspiring women entrepreneurs across the country to both set up and grow their businesses and overcome administrative challenges. The Women in Business programme is aimed at digitally transforming businesses in Tier 2 and Tier 3 locations. Under the partnership, the entrepreneurs will have access to Tide’s comprehensive financial administration and advisory services to assist them access finance.
Tide intends to upskill small businesswomen with the required technical and financial know-how and provide a credible platform to fulfil their business goals, said Kumar Shekhar, VP-Member Operations of Tide-India. He said this citing how India is witnessing an exponential growth of women-led SMEs.
“Access to funding, particularly working capital, has always been a key challenge for many women-led startups and SMEs. Another common challenge women entrepreneurs face is with respect to access to mentors. Through our partnership with Tide, we plan to address these challenges and create growth opportunities for women entrepreneurs,” WE Hub CEO Deepthi Ravula said.
The core focus areas of the partnership will include providing counselling and educating women small business owners on regulation and compliance, accounting and financial planning, filing tax returns, loan application support, marketing and sales besides facilitating peer training and networking. Additionally, women entrepreneurs in Telangana can also use a free co-working office space on Tide premises, when starting out, WE Hub said in a release on Wednesday.
