When a woman lives at the bottom of the financial pyramid, she needs more than one source of income to climb up. Earlier I have written on the merits of spreading the risk of business. I had also cited the successes of our customers who diversified during the pandemic.

Here let me focus on entrepreneurship itself, more specifically the dilemma that a budding entrepreneur faces.

When we profile our customers, a substantial section of first-time borrowers either have been banking on the single income source of the male member of the family or are working for a daily wage. They have a source of income, but unfortunately, that income does not suffice their needs of livelihood. When these women come to us for microfinance, after becoming a part of a JLG, they may need to give up on their personal engagement to take a leap of faith in the world of entrepreneurship. For any new entrepreneur, holding faith in the decision is extremely important. Filled with the uncertainties of business outcomes, every dip challenges this faith.

Many would like to follow the typical “don’t worry, be happy” philosophy and leave things be. They would prefer living a life of low but assured income over the risks of starting a new business. It would have been a perfect outlook had we lived in a world that maintains the status quo. However, in real life, those who are content with a buffer-less income start facing the challenge the moment problems emerge — and it’s guaranteed that they will emerge, the pandemic being a prime example.

Does that mean that jumping into the uncertainty of running a business is the only way to mitigate our uncertain future? Definitely not. Having a buffer is.

And that brings up the story of Syed Rehena Begam of Kotulpur in West Bengal’s Bankura district. She is a full-time worker in the Integrated Child Development Scheme. In her family, along with her husband, she has two adult sons, who are employed in other professions. She is also a proud grandmother!

But even after having spent a major part of life in a similar financial situation, she did not miss out on the opportunity to add to the family income. The moment she heard that a shop space was available at a prime location having rice mills, cold storage installations and other factories, she decided to put up a store selling convenience items and stationery. With her job engagements she knew that she could not run the store herself, but her husband and son could. For capital, she was confident of the support from Village Financial Services.

If Syed Rehena Begam says that her family did not feel much financial distress over the last couple of years, it is because she challenged the status quo and always looked out for opportunities to create a buffer.