META partners with FICCI for 5 lakh women-led SMBs in India
Social media giant Meta: Under its #SheMeansBusiness programme, META has partnered with FICCI’s ‘Empowering the Greater 50%’ to enable and support 5 lakh women-led small businesses in India. This was announced at the launch of META’s National Women Entrepreneurship Summit, with the goal of encouraging industry dialogue and taking steps to support MSMEs in all sectors.
Women-led businesses continue to face significant challenges in terms of access to capital and relevant digital tools. Women own roughly 20% of India’s more than 63 million small businesses, highlighting the need for greater gender equality. Bringing girls and women online can drive economic growth, expand markets, and improve health and education outcomes for everyone, according to research and studies. In India, 52 percent of small businesses that use Facebook have made at least 25% of their sales digitally in the last month.
META will support three initiatives as part of this partnership.
• Facebook Business Coach – Women entrepreneurs will be able to access self-reported lessons and learn how to establish and maintain a digital presence through Meta’s educational chatbot tool on WhatsApp.
• Grow Your Business Hub is a one-stop shop for micro, small, and medium businesses looking for relevant information, tools, and resources to help them find curated or tailored tools for their growth needs and feel empowered.
• In addition, Meta’s Commerce Partner Program will help businesses establish a digital presence, reach out directly to customers, and leverage technology. Through our partners, these businesses will be able to adopt best-in-class solutions across the retail value chain, with additional onboarding support, training, and preferential pricing.
“Many businesses have grown and become successful due to the adoption of digital through social media platforms,” said Narayan Rane, India’s Minister of Micro, Small and Medium Enterprises. However, in order to ensure the country’s long-term inclusive economic growth, we must support women-owned businesses by creating an environment that provides opportunities. We hope that META’s commitment to support 5 lakh women-owned businesses will foster collaboration among women and encourage them to contribute to the country’s overall development.
“FICCI-FLO Empowering the Greater 50% is an ambitious mission of women empowerment, which aims to enhance entrepreneurship and decision-making skills of women,” Sanjiv Mehta, President, Federation of Indian Chambers of Commerce and Industry (FICCI), said of the partnership with META. Through progressive policies, our government is providing numerous opportunities for women’s advancement. However, to realise the shared dream of creating a gender-inclusive nation with a focus on women-led development, collaborative efforts and partnerships with multiple partners are required. India Inc. is dedicated to achieving this goal. Our collaboration with META will encourage women to start businesses by providing them with the necessary resources; existing efforts will thus be expanded in line with the government’s larger goal of becoming a self-sufficient and inclusive country.
“The pandemic has been an economic crisis for small businesses around the world,” said Ajit Mohan, Vice President and Managing Director, Facebook India (META). Due to a lack of resources, women-owned businesses have been particularly harmed. We’ve seen how, when given the right tools and resources, women-led businesses can become more financially stable. We’re partnering with FICCI to provide 5 lakh women at the grassroots level with appropriate digital tools and resources to help India’s women-led businesses. This is part of our commitment to enable 10 million small businesses over the next three years through our new Gurgaon office’s Center for Fueling India’s New Economy (C-Fine).