Entrepreneurship is the art of initiating, organising, and operating business ventures. Women entrepreneurs embody confidence, innovation, and creativity, often driven by a desire for economic independence. While the pursuit of entrepreneurship is characterized by many, women bring a unique perspective to this realm, emphasising creativity and distinctiveness. Their entry into competitive business segments is marked by enterprising spirits determined to make a mark.
Historically, women in Sri Lanka played significant roles in education and the care industry, showcasing their nurturing nature.
However, times are changing, and women have entered the business arena, emerging as educated professionals and resilient business leaders. There is a growing momentum to empower women economically, contributing to the financial well-being of their families.
Are you a female entrepreneur?
Every woman possesses special skills and talents that can be cultivated to achieve personal success or build thriving businesses. The inspiration to create may stem from economic challenges or a burning passion to bring ideas to life and establish a business. Regardless of the catalyst, this journey has a transformative impact, not just on the entrepreneur but on all individuals involved, fostering knowledge, camaraderie, purpose, and personal development.
Women often gravitate towards businesses influenced by culture, education, social norms, life experiences, family commitments, and the desire for recognition and success. Their ventures often reflect the values and abilities of women in society.
Overcoming challenges, including being taken seriously, securing financial support, dealing with discouragement, and balancing family life, underscores their resolute pursuit. Renowned entrepreneurs like Oprah Winfrey and J.K. Rowling have shown that progress begins with one step after another. Within our own families, the hearts of entrepreneurs beat in the faces of our mothers, sisters, and aunts, engaged in various livelihoods.
Securing investment for new business startups
In any business venture, there comes a moment when investment becomes a necessity. Even the smallest home-based enterprises require funding for purchasing raw materials, covering energy expenses, travel costs, bills, and, of course, rewarding labour with earnings or profits.
This financial requirement represents a significant hurdle for women engaged in small businesses and startups. To address this challenge, NDB Bank introduced the ‘Araliya’ proposition, a solution tailored to meet the aspirations and initiatives of women entrepreneurs.
As a value-added benefit of partnering with NDB, this programme offers free financial and non-financial programmes, conducts seminars and workshops to provide essential education and advice on business registration, bookkeeping, entering the digital market space, and personal wellbeing, including monitoring and networking sessions, and offers specialised certification programmes on Small Business Management.
This comprehensive suite of services includes the NDB Araliya Savings Account with inbuilt insurance schemes. Female entrepreneurs can also benefit from the NDB Araliya Credit Card, NDB Araliya Current Account, NDB Araliya Savings Account, NDB Araliya Debit Card, and lending facilities (subject to the prevailing credit criteria of the Bank).
Some questions to ask when starting a business!
• Do you need financial advice?
• What is the scope for this business?
• Do I need licences or permits?
• Do I have a marketing plan?
• How do I finance the business?
• Who are my customers?
• Should I conduct market research?
Embarking on a new business endeavour can be a transformative journey. To navigate it successfully, it’s crucial to seek the counsel of NDB Bank’s financial advisors. Their expertise and guidance offer a well-rounded assessment of your new business venture, providing you with an objective evaluation of its viability and the right path to achieve success.”
