News Update

WE Hub and Tide Collaborates to Accelerate Growth for Women-Led SMEs

• ByStartupStory     |    August 25, 2022

WE Hub, Telangana’s state-led incubator for female entrepreneurs, has signed an agreement with Tide, the UK’s biggest SME-focused company financial platform. This year-long collaboration will boost Tide’s India Chapter of ‘Women in Business,’ enabling prospective female entrepreneurs across India to launch and build their firms while overcoming administrative barriers. 

The Women in Business programme aims to change enterprises in Tier 2 and Tier 3 regions digitally. Women entrepreneurs in Telangana and across India would benefit from Tide’s comprehensive financial administration and advising services, boosting their inclusion in the formal economy and assuring timely and adequate access to financial services.

WE Hub CEO Deepthi Ravula, said, “Access to money, particularly working capital, has long been a critical problem for many women-led start-ups and SMEs. Many studies have indicated that finance institutions are sceptical of the growth possibilities of female founders and start-ups. Another major issue that female entrepreneurs confront is a lack of access to mentors. Enabling access to capital is a critical intervention for entrepreneurs to overcome this barrier to starting and scaling their businesses. We intend to solve this issue and create opportunities for female entrepreneurs through our cooperation with Tide.” 

WE Hub, India’s first and only state-led incubator, with strong market penetration and an exceptional body of work among women small business owners, an underserved niche. WE Hub and Tide want to build an ecosystem that gives women entrepreneurs more access to business and technical support, as well as mentoring and possibilities for growth. The primary areas of concentration will include counselling and teaching women small business owners on Regulation and Compliance, Accounting and Financial Planning, Tax Return Filing, Loan Application Support, Marketing and Sales, as well as enabling Peer Training and Networking. 

Kumar Shekhar, VP Of Member Operations, Tide India, stated, “India is witnessing an exponential growth of women-led SMEs going out on an entrepreneurial journey and contributing significantly to the country’s economy. Tide is happy to collaborate with WE Hub, and we want for the relationship to catalyse the growth of women small business entrepreneurs. Tide aspires to equip these businesswomen with the necessary technical and financial know-how, as well as a legitimate platform to achieve their business objectives.”

 

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