Tide in India Sees 282% Surge in Women Entrepreneurs Adopting Digital Business Tools Notably, 96% of these women hail from Tier II, III, and IV cities—collectively referred to as 'Bharat'—signifying the growing entrepreneurial spirit beyond metro cities.
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Tide, the leading business financial platform for SMEs, has witnessed a remarkable 282% growth in women members over the past year, as more female entrepreneurs across India embrace digital business tools.
The platform now boasts over 86,226 women members, a sharp rise from just 22,584 in February 2024. Notably, 96% of these women hail from Tier II, III, and IV cities—collectively referred to as 'Bharat'—signifying the growing entrepreneurial spirit beyond metro cities.
This surge reflects a broader trend in India's economic landscape, where women-led businesses are playing an increasingly vital role. Currently, about 22 million small businesses in India are owned by women, accounting for approximately 20% of the country's SMEs. Digital platforms like Tide are helping these entrepreneurs access financial tools, streamline operations, and scale their businesses more efficiently.
Tide's data highlights the geographical spread of women entrepreneurs, with the highest concentrations in Uttar Pradesh (16%) and Maharashtra (14%), followed by West Bengal (11%), Madhya Pradesh (9%), Bihar (9%), and Odisha (5%). Women-led businesses on the platform span various industries, with general stores, beauty salons, and tailoring businesses comprising 31% of all digital enterprises.
Gurjodhpal Singh, CEO of Tide in India, underscores the significance of this transformation: "For decades, entrepreneurship in India was synonymous with metro cities and family-run businesses. However, we are now witnessing a paradigm shift, where first-generation women entrepreneurs from smaller towns are defying traditional norms and embracing digital tools to build successful enterprises. These women are not only running businesses but also creating jobs and transforming their communities."
A striking trend emerging from Tide's platform is the increasing number of women solopreneurs. Sectors such as digital marketing, education, financial consulting, agriculture, and local retail have seen a surge in female-led businesses. Women solopreneurs now account for over 61% of digital businesses in ten key sectors.
This shift is being driven by younger generations, with Gen Z (19-25 years) and Millennials (26-40 years) making up 78% of the platform's women members. Interestingly, even older generations are embracing digital business tools, with 22% of Tide's women members being Gen X and Baby Boomers. A notable example is an 89-year-old bookstore owner, demonstrating how digital adoption is bridging generational gaps.
Recognising the critical role of women entrepreneurs in India's economic growth, Tide has taken active steps to support their journey. The company's Women in Business programme aims to bring 500,000 women onto the platform by 2027, as part of a broader global pledge to empower female entrepreneurs.
To achieve this, Tide has partnered with women-focused incubators such as WE Hub (Telangana's state-led incubator), NEHHDC (North Eastern Handicrafts & Handlooms Development Corporation Limited), and the Ubuntu Consortium. These collaborations focus on digitization, policy awareness, and financial inclusion, ensuring that more women-led businesses thrive in India's growing economy.
Founded in 2015 and launched in 2017, Tide has rapidly grown into a leading business financial platform. With over 650,000 SME members in the UK and 500,000 in India, the company continues to expand, having recently launched in Germany in May 2024. Tide's long-term ambition is to become the world's leading financial platform for SMEs.
As India's entrepreneurial landscape evolves, women-led businesses are set to play a crucial role in driving economic growth. Tide's digital solutions are not just enabling these entrepreneurs—they are empowering them to build sustainable, thriving enterprises that redefine the future of business in India.
