Why Women Self-Help Business Groups Are More Important Than You Think?

The idea of self-help groups has been around for years, but it gained momentum in India only recently. People have started realising the importance of self-help groups (SHGs) in enabling the overall improvement of the society, especially women and the weaker sections. Women SHGs for middle and upper-middle-class women empowers them to tackle the common social-political and socio-economic issues. This awareness has lead to the emergence of SHGs dedicated to a particular niche such as business, savings, development of microenterprise, etc.
In India, women are not empowered mainly due to the lack of knowledge, finance, and opportunity. The self-help business groups for women can help each member at every step along the journey. The most significant benefit of these groups is the ability to provide credit to members from time to time. The members start saving for a considerable amount of time until they have sufficient capital to start their own lending process. For a woman from middle or upper-middle-class who may not have the required collateral or documentation to avail a business loan, the credit provided by the SHG could make a huge difference.
Apart from the financial assistance, the self-help business groups are a powerhouse of knowledge. Women in the group can bring in their experience and expertise that could complement the other members. It provides an opportunity to learn and acquire knowledge with peer-to-peer learning. Over time, each member starts adding value to the group resulting in a self-help business group that has the ability to empower each member.
By being a part of SHGs, women can get instant help in their day-to-day problems. There is a sense of security, especially in cases when the family is not supportive. The members of the group are also encouraged as their achievements are acknowledged within the group. Interestingly, the benefits of SHGs for women is highly debated with a few research findings indicating that the positive impacts of these groups do not reach women who are marginalised and out of the mainstream. However, in spite of such scepticism, most researchers believe that in the long-term these self-help groups change the face of the society.