NIRVANA

Women entrepreneurs are vital for their reinvestment into household incomes and the national economy. The latest evidence published by the World Economic Forum on women-led businesses finds that they reduce poverty, drive job creation, spark innovation, and contribute to safer, greener and more vibrant communities. Moreover, women-led businesses promotes women empowerment which also inspires future women generations.

What motivates women to become entrepreneurs?

Most of the women mentioned that they want to become financially independent. Some women stated that they want to be their own boss or they were dissatisfied with their work environment. For others, it is a way to make ends meet. Another woman said that entrepreneurship made her rediscover herself and her passions and now she wants to live for herself after her children are grown up.

Additionally, some women mentioned they have better work-life balance. However, there is one thing that they all have in common which is their passion for doing what they love whether it is about making crochet bags, clay art or promoting healthy food.

Sectors in which women entrepreneurs are operating in Mauritius

During the business coaching sessions which I conducted with women entrepreneurs under YUVA Mauritius, I got the opportunity to interact with them and I was amazed by the diverse sectors in which they operate. The women entrepreneurs are operating in the food industry, handicraft, agriculture, beauty care, clothing, interior design, health and eco-friendly products, and many more. Furthermore, the younger women entrepreneurs operate mainly in the IT sector.

What are the challenges being faced by women entrepreneurs?

While talking to the women entrepreneurs, many mentioned the difficulties in gathering capital for their businesses. Others mentioned about the delays of obtaining permits from the authorities. Some also mentioned challenges in managing their finances. Additionally, other women required more training in digital marketing to be able to increase their visibility and grow their businesses.

Some women were not aware of the procedures of business registration. The support institutions for Women entrepreneurs in Mauritius were also unknown to some of them. Some women face challenges with regards to the supply of their raw materials as same is not available in Mauritius.

What type of training do the women entrepreneurs require the most?

Many women mentioned that they require training in digital/social media marketing. In addition, they also required training in business skills, financial literacy and digital transformation. These training will help them to manage their businesses more efficiently. In doing so, they will be able to better manage their finances and their budget.

The women entrepreneurs also mentioned that they required advanced skills development in their related field of business such as advanced training in hydroponics or making of eco-friendly products. Others mentioned that they needed training in people management.

The role of Support and Financial Institutions for Women Entrepreneurs in Mauritius

Several support and financial institutions are available in Mauritius including:

• NWEC (National Women Entrepreneur Council)

The NWEC provides support and assistance to both potential and existing entrepreneurs in Mauritius including capacity building programmes and organisation of trade fairs/Sales exhibitions/Craft Markets. They incorporate business counselling, skill development programs, talks and sensitisation campaigns and marketing assistance.

• SME Mauritius (Small and Medium Enterprises)

SME Mauritius provides advisory support, financial support, and training to entrepreneurs. Their mission is to develop entrepreneurship at National Level, improve market readiness and resilience of the SMEs. Their goal is to improve the contribution of the SMEs to GDP and employment.

• DBM (Development Bank of Mauritius LTD)

The DBM offers loan schemes for women entrepreneurs of up to Rs 1.2M with an interest rate of 0.5 % p.a and can finance 90% of the cost of project. The purpose of the loan is to set up an enterprise, purchase of equipment and working capital requirement. They also offer a Mentoring & Hand Holding Programme for entrepreneurs.

• MCCI ( Mauritius Chamber of Commerce and Industry)

An organisation that serves and promotes the interests of the business community in Mauritius to foster economic development. MCCI assists entrepreneurs through various initiatives like training programs, technology transfer, trade facilitation, and advocating for a better business environment. Initiatives such as the Xport Accelerator aim to strengthen the export readiness of SMEs.

• SheTrades Mauritius Hub

The organisation delivers tailored capacity building and business generation activities for women in Mauritius. They may range from support to participate in regional or international trade fairs, or opportunities to participate in on-site or virtual trainings like digitalisation, crisis management and risk assessment.

• Banks

Banks such as SBM and ABSA offer loans for women entrepreneurs.

• NGOs (Non-Governmental Organisation)

YUVA Mauritius

YUVA is a leading NGO in Mauritius and India. YUVA Mauritius has conducted many workshops on Women Entrepreneurship led by Dr. Krishna Athal which include training on financial literacy, business planning, marketing strategies and digital skills. YUVA also enhances networking opportunities for the women entrepreneurs through collaboration, partnerships, and shared learning. In doing so, YUVA empowers the women and micro-entrepreneurs across Mauritius.

• Other institutions

AMFCE-Association Mauricienne des Femmes Chefs d’Entreprises which brings together women business-owners from all sectors of the Mauritian economy.

FAREI (Food and Agricultural Research and Extension Institute) supports agro-entrepreneurship by providing training, research, and financial assistance for new projects.

Conclusion

I believe that women entrepreneurs have the capacity and potential to thrive in Mauritius and contribute to both the national economy and households as well. With the right support and training, women entrepreneurs can grow in their respective businesses and inspire other aspiring women entrepreneurs to launch their businesses hence, driving empowerment. The authorities also have an important role to play to support Women Entrepreneurs for acquisition of related permits or loan facilities.

Moreover, women-owned businesses will promote job creation, increase innovation, GDP, and benefit societies. In doing so, women entrepreneurship will promote gender equality. Women are also more inclined towards social and environmental responsibility and driving sustainable developments.

Yashna Veera, Life Coach and Yoga & Meditation Practitioner