Women entrepreneurship, a relatively new but evolving concept, is seen in both urban and rural parts of Nepal. Women entrepreneurs are taking risk and starting their own enterprise. The Government of Nepal at the meantime has its focus on initiating program like Women Entrepreneurship Development Fund (WEDF) to help women entrepreneurs meet their financial need for their enterprise growth.
WEDF is an initiation by Ministry of Industry (MOI) with a nature of collateral free loan at six percent interest rate. The program began in the year 2015 with the limitation up to five lakh rupees. Women entrepreneurs submit an application along with their business plan at the district office of Department of Cottage and Small Industries (DCSI) which later gets sent to the center office of DCSI at Kathmandu. The center office receives the documents for analysis. The enterprise which meets the conditions laid under Women Entrepreneurship Development Fund Procedural, 2065 receives the loan amount.
Women Entrepreneurship Development Fund Procedural, 2065 ensures the right of women entrepreneurs with their own enterprise to apply for this loan. The women led enterprises must be in operation for at least two years and should also be recommended by any one of the umbrella organization in their district. A visit to the district office of DCSI can help a women entrepreneur know all about WEDF and its applying procedure.
Miss Needika Adhikari conducting research on women entrepreneurs in Pyuthan.
There are four stakeholders to this process of loan allocation:
In conversation with authorities at DCSI, the number of women entrepreneurs receiving the loan amount is more in Pyuthan district since its initiated year. Every year around 40 women entrepreneurs receive the loan. As a reflection on the advantages and disadvantages on receipt of the loan amount, the important observations made in Pyuthan were:
WEDF has been a great initiative to address the financial needs of women entrepreneurs. However, lack of financial injection for business operation, upgraded set of skills and market linkages can eventually lead to business failures and market exit. Business development and support services; access to corporate, government and international markets; access to technological services; R&D and innovation are equally important for women entrepreneurs to sustain and grow their businesses. Creating a support system to acknowledge and address these inadequacies can encourage women entrepreneurs to take more risk and progress in their entrepreneurial journey.
Advocate Needika Adhikari is currently working as a legal associate for Abhinawa Law Chambers. She received her BA, LLB degree from Nepal Law Campus. In the past, she has worked as a Dayitwa fellow and a legal associate for Biruwa Advisors.
4 Comments
Hi my self rabindra Thapaliya now frome Qatar
Next month iam back my country so I want lone 1000000 I doing farmar
What is the current status of the WEDF funding program for Nepali women in business?
Loved this article on women entrepreneurship,