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Are women entrepreneurs guilty of neglecting their finances in pursuit of their ambitions?

A woman who's running her own business should have at least two years' expenses as emergency corpus

February 24, 2022 / 06:49 PM IST

Entrepreneurship among women is common. According to data issued by the Department for Promotion of Industry and Internal Trade (DPIIT) in June 2021, India has over 50,000 startups, with at least 45 percent being women entrepreneurs. Mital Salia, 43, started Khel Khel Mein, an organisation providing game-based tools for children to adults in 2013. Manya Singh, 36, co-founder of weddingplz.com, wedding vendor search portal, is another addition to the ever-growing list of women entrepreneurs. She started her entrepreneurial journey in 2011.

Just how do they manage their businesses and personal finances at the same time?

Planning is the key

Salia, who also calls herself a game therapist, says that she didn’t understand the importance of finance until 2021 when she needed the money for expansion. Experts say that entrepreneurs, initially, finance their businesses with their own savings, often without drawing a salary. The cash flow is seasonal and uneven in some businesses, especially those businesses that are related to beauty products, personal care and lifestyle, such as Singh’s wedding planner portal.