80% Of Women-Led Businesses Struggle With Global Payment Issues

Mumbai: Around 80 per cent of women-led businesses encounter difficulties with international payments, while 60 per cent struggle with complex regulatory compliances, according to a report. Despite their increasing role in the economy, women-led enterprises constitute just 15.4 per cent of India’s 58.5 million businesses, the report on growing ambitions of women entrepreneurs in cross-border trade stated. The report stated that a poll of more than 300 women entrepreneurs highlighted four major challenges, including international payments and compliances, that women face while expanding their businesses globally. Around 60 per cent of women entrepreneurs struggle with export laws, trade regulations, and complex compliance requirements, the report prepared by Aspire For Her and payment solutions provider Payoneer said. Limited access to financial resources and supply chain & logistics issues are the other major challenges, it added. “Many women entrepreneurs face funding shortages and payment delays, restricting their ability to scale globally. Due to challenges in securing business loans and trade credit, a significant number of women-led businesses struggle to expand,” the report highlighted.