MAM
Britannia Marie Gold in partnership with NSDC announces India’s first Skill Development Program for homemakers to startup
MUMBAI: Britannia Marie Gold has announced the launch of the second season of its annual ‘Britannia Marie Gold My Startup’ initiative which provides financial assistance to homemakers with entrepreneurial ideas. This year, the brand has partnered with National Skill Development Corporation (NSDC) to launch India’s first-ever skill development programme customized for women with entrepreneurial aspirations. 10,000 women homemakers from across the country will undergo this online certification course between April and June 2020. The online training touches upon all key levers of entrepreneurship. The Britannia Marie Gold My Start Up initiative is designed to help India’s homemakers become financially independent and transform them into job creators.
The online courses will be available through NSDC’s eSkillIndia portal that drives Government of India‘s Skill India Mission digitally. The e-courses will empower women to gain basic communication skills, financial literacy along with information and communication technology (ICT), and micro entrepreneurial skills for socio economic self-reliance. The online nature of the training provides easy access to the courses from the comfort of their homes across the country. The primary aim is to train women on key functional skills to boost their confidence at the start of their entrepreneurial journey. The training program will be available in two languages – English and Hindi. The digital skilling content will be supported by formative and summative assessments, and eCertification will be awarded to the participants upon successful completion of the course.
Britannia’s ‘My Startup’ Initiative also provides financial assistance to homemakers who have entrepreneurial ideas backed by a practical business plan. To participate in the program, the homemakers can give a missed call, send a WhatsApp message to the number provided on the Britannia Marie Gold pack or log on to www.mystartupcontest.com and share their business idea.
Britannia Marie Gold launched the ‘My Marie My Startup’ campaign in the year 2019 on the back of a Nationwide Survey on Barriers and Triggers to Women Entrepreneurship in India conducted in 2018. The overwhelming response of 1.5 million entries in the first Edition of the campaign and the insights gained thereof encouraged the brand to add skill development as a core delivery in the initiative this year.
Talking about the second edition of Britannia Marie Gold My Start Up campaign and partnership with NSDC, Britannia Industries head of marketing Vinay Subramanyam said: “Britannia Marie Gold My Start Up initiative aims to fulfill Indian women’s aspirations of embarking on an entrepreneurial journey and gaining financial independence. We believe that homemakers are the drivers of growth for a country's success. They have uninhibited energy, endless love and limitless patience. They exhibit an entrepreneurial aptitude in their everyday lives. And yet they seek to do more and be more. This is the rationale for the "Britannia MarieGold My Start up" initiative. Data from a nationwide survey we conducted also pointed out that skill development was a crucial need along with finances. We found the perfect partner in National Skill Development Corporation (NSDC) to develop and deliver the requisite skills. The scale of the initiative this year has increased manifold with 10,000 homemakers going through an online, certified skill development program. Our partnership with NSDC will help build a vibrant ecosystem and facilitate micro entrepreneurship amongst women.”
Commending the campaign, NITI Aayog CEO Amitabh Kant said: “In India only 22 per cent women work while the global average is about 48 per cent. A report by McKinsey specifies that if we reach the world average it would add another USD 700 billion to our economy and for India to grow at high rates of 9 to 10 per cent would not be possible without the participation of women as key entrepreneurs. I would like to compliment this unique initiative by Britannia Marie Gold and the National Skill Development Corporation to transform homemakers to entrepreneurs. We are in the midst of a massive technological disruption and this initiative creates huge opportunities and redefines our existing boundaries in innovation. They are opening up new avenues for business, innovation and entrepreneurship. I am particularly delighted that through this initiative there will be more opportunities for homemakers because women in India have a great spirit for innovation and the resilience to make the best of every available resource and without them it would not be possible for the country to grow, expand and progress.”
The 21st century poses many challenges that require new ways of thinking, but nothing is more important than the economic role of women in a rapidly changing world. A key pillar to lead this transformation is skill development.
Sharing his thoughts on the same, NSDC MD and CEO Manish Kumar quoted, “Women constitute 48 per cent of Indian population but as per estimates only 23 per cent participate in labour force. Skilling initiatives especially focused towards Entrepreneurship and Gig Economy is the need of the hour given that 229.2 million, out of the 301.5 million who are not in the labour force, state their status as ‘attending domestic duties’ and innovative approaches that create economic opportunities for them without conflicting with social needs will be a win-win solution for all. If we could add 20 percentage point more to women labor force, India's GDP will go up by more than 1 trillion USD.”
Ministry of Skill Development and Entrepreneurship joint secretary Anuradha Vemuri said: “In the modern world, more and more women are emerging as beacons, leaders in integral roles contributing towards the nation’s growth. They are change-makers and custodians of a value system that holds the keys to the society’s development. Through their enterprise and compassion, women today are not only transforming their own lives but are also inspiring others to do better. The Government’s vision of Skill India rides on the ability of women to rise as entrepreneurs and employers and we are focusing all our energies to create conditions that empower women to strive for their dreams and ambitions. We will continue to be catalysts in the journey to unlock their potential and help them find success.”
Aspiring women entrepreneurs can log onto www.mystartupcontest.com for more details and participation criteria.
Starting a business is one of the most financially demanding transitions a person can make. In the early months, expenses are immediate and often unpredictable, while revenue streams may take time to stabilise. For first-time entrepreneurs, securing small business loans can feel like a paradox: lenders expect a clean financial track-record before approving a loan, but the business cannot establish that track record without funding. Understanding the start-up lending environment in India and knowing the realistic funding options make this process far less daunting, allowing entrepreneurs to plan strategically.
Why Traditional Business Loans Are Harder for Start-ups
Most financial institutions require a minimum business vintage of 2 to 3 years before approving a term loan. This is because the first two years of operations carry the highest risk of failure. For start-ups less than 12 months old, traditional loan options are limited, and lenders often ask for substantial collateral to mitigate risk.
The vintage requirement is not arbitrary. Businesses that have survived their first two operating cycles demonstrate market viability, which significantly lowers the lender’s risk. Until this milestone is reached, entrepreneurs often rely on bootstrapping, personal savings, or alternative financing to build a stable business foundation. Understanding this reality helps first-time entrepreneurs set practical expectations when seeking funding.
Government-Linked Schemes for Startups
India offers several government-backed schemes to support first-time entrepreneurs. One such scheme is the Pradhan Mantri Mudra Yojana (PMMY), which provides collateral-free loans for micro and small enterprises in three categories:
● Shishu: up to Rs. 50,000
● Kishore: Rs. 50,000 to Rs. 5 lakh
● Tarun: Rs. 5 lakh to Rs. 10 lakh
These loans are available through eligible lending institutions, making them suitable for early-stage businesses. For first-time entrepreneurs, a Mudra loan not only provides initial working capital but also helps establish a credit history. Repaying a Mudra loan on time strengthens the entrepreneur’s profile and increases the chances of securing larger loans in the future.
Using Personal Loans to Fund Early-Stage Needs
When business loan eligibility is not yet established, a personal loan can serve as bridge funding. These loans are assessed on the individual’s credit profile and income rather than the business’s financial history, making them accessible to salaried individuals or those with a strong personal credit record.
Personal loans have limitations: the loan amount is capped based on personal income, and the interest rate is typically higher than secured business loans. Nevertheless, taking out a personal loan during the first 12 to 18 months can provide crucial support as the start-up builds its financial profile. It is especially useful for covering immediate expenses such as inventory, marketing, or office setup costs.
Alternative Financing Options for Startups
For start-ups that are not yet eligible for traditional business loans, other financing options are available through financial institutions. Many lenders offer startup-focused or small-business loans designed for early-stage businesses. These loans evaluate the entrepreneur’s personal credit profile, business plan, and projected revenue rather than relying solely on business vintage. Financial institutions such as Tata Capital provide these loans with minimal documentation and fast disbursal, enabling entrepreneurs to manage operational expenses, purchase equipment, or fund early growth initiatives without pledging collateral.
Some lenders also offer flexible loan amounts, quicker approvals, and streamlined processes, making them well-suited for first-time entrepreneurs. Exploring these options early allows start-ups to access working capital while gradually building a credit history that will support larger loans in the future.
Building the Right Financial Profile Before Applying
For entrepreneurs planning to apply for a business loan in 12 to 18 months, the preparation period is critical. Key steps include:
● Filing Income Tax Returns (ITRs) consistently and accurately from the first year
● Maintaining a clean current account with regular deposits and no overdraft patterns
● Keeping the promoter’s CIBIL score above 750
Lenders assess start-ups by examining these signals. Entrepreneurs who maintain financial discipline from the start will have stronger loan applications after two years. Additionally, tracking cash flow and avoiding irregular withdrawals can further enhance the business’s credibility.
Collateral-Based Options for Larger Requirements
Startups requiring larger amounts beyond government schemes can consider loans against property. These loans allow entrepreneurs to access larger amounts of funding at lower interest rates, as the property secures the lender’s risk.
This option carries significant risk: using personal or family assets as collateral can result in a loss if the business does not perform as expected. Such loans should be considered only when the business plan is validated, the entrepreneur has clear cash flow projections, and the repayment strategy is realistic. Careful assessment of risk versus reward is essential before pledging assets.
Practical Steps to Strengthen Your Loan Application
To maximise the chances of approval, entrepreneurs should:
● Maintain accurate financial statements, bank records, and GST returns.
● Avoid over-borrowing; apply for realistic amounts that match business needs.
● Keep personal and business credit profiles in good standing.
● Explore lenders that offer startup-friendly products.
● Be transparent and complete in all documentation.
Taking these steps early ensures a smoother and faster loan process when the business is ready for formal financing. A well-prepared application reduces processing delays and demonstrates professionalism to the lender.
Conclusion
First-time entrepreneurs often face a funding gap in the early stages, but it is usually smaller than it appears. Maintaining clean banking records, filing ITRs consistently, and exploring personal loans, government schemes, and alternative financing options help build a strong financial profile. Entrepreneurs who plan systematically from day one are better positioned to access formal credit sooner, giving their start-ups financial stability through small business loans.
The ideal time to start building a credit-worthy business profile is the very first month of operations, not when applying for a loan. By understanding available funding options and acting proactively, first-time entrepreneurs can confidently apply for a business loan and set their businesses on a path to long-term growth.
