Meta Partners FICCI to Support 5 lakh Women-led Businesses

Meta, the social media giant, announced on Friday 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.

Aid to Women Entrepreneurs:

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 solve the obstacle to accessing the relevant digital tools and resources for women entrepreneurs in India by providing easy access to Meta's products, programmes, and resources."

"Through this agreement, Meta will offer support through three initiatives: Facebook Business Coach, Grow Your Business Hub, and Meta's Commerce Partners Program," according to the announcement.

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.

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 hoping that Meta's vow to support five lakh women-owned enterprises will build a supportive ecosystem for women and inspire them to contribute to the country's overall development."

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.

"This is a cause to which India Inc is dedicated. Our collaboration with Meta will inspire more women to start businesses by providing them with all of the required resources ", 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.

"Due to a lack of resources, women-owned enterprises have been disproportionately harmed. We've found that when women-led enterprises are given access to the necessary tools and resources, they prove to be more economically robust ", 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.