The bump is very painful and looks almost more like a cyst or a cut with like a white soft scab. It is very painful!

A swollen labia minora is less common than in the labia majora (With regards to cysts and warts), but as it's white, and particularly as it's painful, I'd see a doctor. It may be an infection.

X Dani

Often scabs on the genital area are related to STDs and STIs like Herpes. Definitely go to see your doctor!

I'd go and see your doctor if I were you!

However don't panic!

It could be as simple as something called a sebaceous cyst, which is a build up of the oily white substance produced by your sebaceous glands - it is very common and something your doctor will have seen all the time - so nothing to be embarrassed about - I have personally had one! It could quite simply be one of these that has got a little infected and can be treated very easily. I hope you get it sorted soon!