KOCHI: While women empowerment is a hot topic, which has many facets, ranging from creating job opportunities to enabling women to become entrepreneurs, the aspect of financial literacy among women often gets ignored. The lack of knowledge about many schemes and provisions created to help women often proves to be a hurdle for many woman entrepreneurs.HerMoneyTalks, a start-up founded by Nisary Mahesh, aims to fill this void. “HerMoneyTalks aims to educate and empower every woman to make financial decisions that are right for her,” says Nisary.
The one-of-a-kind KSUM pre-incubated start-up now offers consultation with experts for tax planning and investments, guidance on business loans and funding advice, among other services. The platform with 25,000 community members has been chosen for the NASSCOM 10000 startups initiative. Having worked in the banking sector for eight years, Nisary turned to entrepreneurship with content creation and online branding.
“HerMoneyTalks started as a content platform to provide financial awareness to women a year back. We started with a website on which financial literature was uploaded. But, the concept gained a lot of traction in entrepreneurial circles, prompting is to go forward with the idea of a financial services platform,” says Nisary.The online services, at present, targets the urban women, while plans for collaboration with rural collectives are also on.
Nisary says that in the case of homemakers, ignorance and a tendency to give financial responsibility to men remains an issue. With working women, their lack of financial knowledge makes it easier for insurance agents and agents of other money schemes to trap them. “Of the few woman entrepreneurs, many tend to limit themselves without taking any financial risks. This often holds them back from pursuing funding avenues. While many girl students come to be a part of start-up mission’s IEDC programme for college students, many leave it to take up conventional jobs after college,” adds Nisary.
The startup operations are now more focused on Bangalore where there are many more woman entrepreneurs in various sectors. They also aim to collaborate with various women-led initiatives. Products and other meet-ups with woman entrepreneurs are also planned, while a mobile application too is in the offing.
Why ?
While homemakers tend to give financial responsibility to men, the lack of financial knowledge among working women makes it easier for insurance agents and agents of other money schemes to trap them.
The Startup
● The platform with 25,000 community members has been chosen for the NASSCOM 10000 startups initiative
● The online services target the urban women, while plans for collaboration with rural collectives are also on, says Nisary Mahesh.