Meta, the social media giant, announced that it has joined with industry group FICCI to support five lakh women-led small businesses across India through its #SheMeansBusiness programme.
The statement was made during Meta's maiden National Women Entrepreneurship Summit, which aimed to foster industry debate and steps to support MSMEs across industries.
According to a statement, the most pressing concerns for women-led enterprises are access to funding and relevant digital tools.
Women hold around 20% of India's 63 million small enterprises, underlining the need for greater gender equality, according to the report.
"Together with FICCI, Meta will address the barrier to access right digital tools and resources by offering easy access to tools, programmes and resources by Meta to women entrepreneurs in India. With this partnership, Meta will extend its support via three initiatives — Facebook Business Coach, Grow your Business Hub, and Meta's Commerce Partners Program," the statement said.
Digital adoption through social media platforms, according to Union Minister for Micro, Small and Medium Enterprises Narayan Rane, has helped numerous businesses grow and prosper.
Mr. Rane stated that supporting women-owned enterprises by building an ecosystem that offers chances is necessary for the country's tangible inclusive economic development.
He added, "We are hopeful that Meta's pledge to support five lakh women-owned businesses will create a supportive ecosystem for women and inspire them to become contributors to the overall development of the country."
According to FICCI President Sanjeev Mehta, FICCI-'Empowering FLO's the Greater 50%' is an ambitious women empowerment programme aimed at improving women's entrepreneurial and decision-making skills.
"India Inc stands committed to this cause. Our partnership with Meta will encourage more women to take up entrepreneurship by providing them with all the necessary support," he added.
According to Ajit Mohan, vice-president and managing director of Facebook India (Meta), the pandemic has caused a global economic crisis for small enterprises.
"Women-led businesses have been particularly affected due to lack of resources. We've seen that when supported with access to the right tools and resources, these women-led businesses turn out to be more economically resilient," he added.
He also stated that Meta is cooperating with FICCI to provide five lakh women at the grassroots level with relevant digital tools and resources in order to assist women-led enterprises in India.
He explained that this is part of the company's three-year goal of allowing one crore small enterprises through Meta's Centre for Fueling India's New Economy (C-FINE) in Gurugram.
Meta founded the #SheMeansBusiness initiative in 2016 to provide a platform for female entrepreneurs to build crucial connections, share advice, and collaborate. Since 2016, Meta has trained 1.5 million women in 38 markets all around the world.
