The Ministry of Rural Development grants loans worth Rs 8.6 Cr to self-help groups to start micro-businesses

the Ministry of Rural Development provided Community Business Fund (CEF) loans worth Rs 8.60 Cr at 2614 Support Group (SHG) entrepreneurs as part of the Azadi Ka Amrit Mahotsav. The loans were made to entrepreneurs to help them start their micro-businesses in their villages across 19 states under the Start-up Village Entrepreneurship Program (SVEP).

During the celebration of Amrit Mahotsav, various activities were organized within the framework of the SVEP. These events focused on raising awareness of the SVEP program and how it supports members of SHGs who wish to start microenterprises in rural areas.

These events saw the participation of public officials, government officials and community organizations in 19 states, including Andhra Pradesh, Assam, Bihar, Gujarat, Haryana, Jharkhand, Kerala, Madhya Pradesh, Manipur, Odisha, Rajasthan, Uttar Pradesh and the West. Bengal.

Members of an SHG in West Bengal create handicrafts for a living.

Prior to granting the CEF loan, SHG entrepreneurs received initial entrepreneurship training and detailed business plans for their business plan were prepared.

During these events, SHG entrepreneurs shared their experiences and journey to start their own business in their villages, become entrepreneurs, and talked about the different forms of support they received under the SVEP. They also underlined the strength of a regular grip to understand the steps to follow in order to do business, to succeed and to create solid links with the market.

The SVEP is a subroutine under National Rural Livelihoods Mission (NRLM) promote businesses in rural areas. SVEP aims to build a wholesale business development ecosystem. This is a cadre of community resource persons-Business Promotion (CRP-EP) who will provide support services to entrepreneurs.

The program includes identifying business ideas, preparing business plans, accessing loans, and other supports such as marketing, bookkeeping, and business decision-making. In addition, the ecosystem also includes training and capacity building of entrepreneurs, seed capital for business start-ups, support for the marketing of products and services, etc. Block Resource Center (BRC) – the single point solution for the promotion of the company – is also developed within the framework of the ecosystem.

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About Keneth T. Graves

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