China's Guangdong Province Supports Women Entrepreneurs with Targeted Loan Subsidies

• Guangdong program empowers 1.58 million women entrepreneurs and workers.
• Loan subsidy boosts women-led businesses and economic inclusion.
• Women leaders in rural, online, and farm sectors prioritized.
   

Over the past 15 years, Guangdong province has significantly advanced women’s entrepreneurship and employment through the instituted finance scheme, named the Women’s Entrepreneurship Small Guarantee Loan Subsidy Program, established in 2011. Since its start, it has been headed by the Guangdong Women's Federation, with 158,000 women supported directly by the scheme, while 1.58 million more women gained indirectly through the program in either setting-up of jobs and businesses or good employment opportunities.

The program under concern has been directed towards healthy and trustworthy women below 60 years of age who reside in Guangdong, are registered, and are endowed with labor skills and the potential to be entrepreneurs. Special accentuation is laid on helping rural women leaders and college graduates, migrant workers returning from abroad, and women online entrepreneurs having commendable business intentions and capabilities.

Under this initiative, the Provincial Finance Department subsidizes the interest on business loans used for business startups, production, and operational activities. Thus, a woman entrepreneur can obtain a loan of about 100,000 yuan (around $14,084) per household, depending on one to two years of the loan period. In addition, between 5 and 10 excellent female leaders of family farms, cooperatives, and production bases can be nominated annually by each prefectural city for loans up to 300,000, recognizing their potential to boost rural development and innovation.

The program has disbursed 179.94 million yuan for five phases, and 30.94 million was received in the fifth phase alone. According to the statement, the sixth phase of the project is at its inception startup stage.

This initiative not only promotes inclusive economic growth, but also strengthens the ecosystem of women led by women, contributing to the broader objectives of gender equality and sustainable development in Guangdong.