Delhi, November 20, 2024: Tide1 in India, the leading business financial platform for SMEs, has announced a strategic partnership with Bengaluru-based Ubuntu Consortium, a Consortium of Women Entrepreneurs Associations. The partnership aims to support women entrepreneurs across India, equipping them with the skills, tools, and resources necessary to take their business to the next level.
With a stellar record of empowering women-led SMEs, Ubuntu Consortium brings together under one umbrella the Women Entrepreneurs Associations. Formed under the Presidency of K. Ratna Prabha IAS (Former Chief Secretary, Govt of Karnataka), the Consortium has seven founding members with considerable experience running successful business ventures and leading industry associations.
The Consortium has 54 associations which account for more than 21,000 women entrepreneurs representing 11 states. Focusing on digital transformation, the Consortium has so far trained 2400 women on digital marketing skills to grow their businesses. The partnership between Tide and the Ubuntu Consortium will focus on building skills, other types of training, and financial literacy, ensuring that women entrepreneurs receive the support they need to expand their businesses. With Ubuntu Consortium’s deep-rooted presence in many states in India and its track record of driving impactful social and economic change, Tide looks forward to supporting women entrepreneurs across Tier- 2, 3, 4 and beyond towns to grow their businesses.
According to a report by the Ministry of Women and Child Development, empowering women entrepreneurs could add over 150 million new jobs in the next decade. This partnership will also help towards creating local jobs and stimulating economic growth in the long run.
The partnership’s initiatives will cover:
1. Financial Literacy Workshops: sessions to help women entrepreneurs manage finances more effectively, focusing on essential skills such as budgeting, cash flow management, and basic bookkeeping.
2. Digital Skills for Business: this programme will support women in harnessing digital tools for marketing, sales, and customer engagement, enabling them to adapt to an increasingly digital economy.
3. Access to Credit Training: workshops on financial readiness, credit applications, and building sustainable credit scores, in response to the challenges women entrepreneurs face in accessing funding.
K. Ratna Prabha IAS, President, Ubuntu Consortium, said: “At Ubuntu Consortium, we are committed to creating an ecosystem where every entrepreneur, particularly women, can thrive. Our collaboration with Tide marks a milestone in our efforts to bridge the gender gap in entrepreneurship. Together, we will provide these women with the resources and knowledge they need to build sustainable businesses, fostering a new generation of women leaders across India.”
Government data from the Ministry of Skill Development shows that many women entrepreneurs lack critical business skills. By providing dedicated workshops, mentoring and training programmes, this partnership is designed to empower women entrepreneurs with skills in financial management, digital marketing and business expansion strategies, setting them up for long-term success.
Kumar Shekhar, Deputy Country Manager of Tide in India, said: “Partnering with the Ubuntu Consortium aligns perfectly with Tide’s Women in Business initiative. Ubuntu’s exceptional reach and understanding of grassroots needs make them an ideal partner to create long-lasting impact. We believe this partnership will play a pivotal role in empowering women entrepreneurs to overcome challenges, access credit, and build their skills, creating a more inclusive and vibrant economy.”
According to the UN’s Gender Equality and Youth Development report, achieving gender equality would generate about USD 700 billion of additional GDP by 2025, increasing India’s GDP growth by 1.4 percent. By championing women entrepreneurs, the partnership directly supports India’s economic growth and fosters a culture where women-led businesses are prioritised, celebrated and sustained.