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Women Entrepreneurship in BangladeshMajor Constraints and DevelopmentMahrukh KhurramUniversity of North TexasApril 2020Mahrukh.Khurram@unt.eduTABLE OF CONTENTS• Introduction• Profile of Bangladesh• Women Entrepreneurship in Bangladesh• Challenges for Women Entrepreneurs• Government Initiatives for Women EntrepreneurshipDevelopment• Support Services• Recommendations• Conclusion• Works CitedINTRODUCTIONINTRODUCTIONWHO IS AN ENTREPRENEUR?An Entrepreneur is defined as an individual who:• Assumes the financial risk of the initiation, operation,and … Continue reading “Women Entrepreneurship in Bangladesh | My Assignment Tutor”

Women Entrepreneurship in BangladeshMajor Constraints and DevelopmentMahrukh KhurramUniversity of North TexasApril 2020Mahrukh.Khurram@unt.eduTABLE OF CONTENTS• Introduction• Profile of Bangladesh• Women Entrepreneurship in Bangladesh• Challenges for Women Entrepreneurs• Government Initiatives for Women EntrepreneurshipDevelopment• Support Services• Recommendations• Conclusion• Works CitedINTRODUCTIONINTRODUCTIONWHO IS AN ENTREPRENEUR?An Entrepreneur is defined as an individual who:• Assumes the financial risk of the initiation, operation,and management of a business or undertaking• Organizes and manages labor, capital, and naturalresources to produce goods and services to earn aprofit• Accepts both risks and opportunities involved increating and operating a new business venture.According to the UNDP Human Development Report,“A woman entrepreneur is defined as a woman who hasalone or with one or more partners started or inherited abusiness, and is eager to take financial, administrative,and social risks and responsibilities, and participate in theday-to-day management activities” (2004). (Huq, 2013)INTRODUCTIONData of U.S. Small Business Administration shows thatwomen-owned businesses are one of the fastest-growingsegments of the small business community.Over the past five years, female-owned businesses havegrown drastically in number, employment, and revenue:• The number of women-owned businesses increased21%, while all businesses increased only 9%.• Total employment by women-owned businesses rose8%, while for all businesses the increase was far lowerat 1.8%.• Total revenue for women-owned businesses also roseslightly above all businesses: 21% compared to 20%respectively. (Bloomberg)This trend is similarly observed in other parts of the world,including Europe and Asia.OBJECTIVESThis research:• identifies major barriers and challenges of womenentrepreneurship in Bangladesh.• explores of present state of WomenEntrepreneurship Development in Bangladeshincluding Government Incentives and supportnetworks• provides recommendations for furtherimprovements.PROFILE OF BANGLADESHPROFILE OF BANGLADESH• Bangladesh is a developing country situated in Southern Asia,bordering the Bay of Bengal, between Burma and India• Per capita national income is USD 621• Unemployment rate is only 4.31% while the employment rate exceedsthe global average.• Agriculture is the main source of income• Contributes to 56 percent of the GDP• Relatively small manufacturing sector• Approximately 43.3% of the population falls below income poverty line• Sex ratio is 1.04 males to every femalePROFILE OF BANGLADESH• The Global Gender Gap Index (GGI) is 0.726 which ranked first among SouthAsia Association for Regional Cooperation (SAARC) countries (UNDP,2010). (Economic World Forum)World Economic Forum said in it’s latest report:“Bangladesh has been ranked the top country amongits South Asian neighbours by performing the best inbringing down gender gap” (2020)WOMEN ENTREPRENEURSHIP INBANGLADESHWOMEN ENTREPRENEURSHIP SCENEIN BANGLADESH• Entrepreneurship has become important profession among the women ofBangladesh in urban and rural societies.• Women in rural areas are being self-employed through the agricultural and nonagricultural sector, and are involved in the following activities:• Cropping• Tailoring• Livestock and poultry rearing• Fish farming• Handcrafting• Food processing• Tailoring• Rice processing• Saturated in upper and lower levels of economic ladder than mid-levels.WOMEN ENTREPRENEURSHIP SCENEIN BANGLADESHAccording to Data form Microenterprises Asia,• Of the almost 8 million businesses in Bangladesh, 7.2 percent of businessesare owned by women, according to a 2016 study by the International FinanceCorporation (IFC).• The study also found that women are perceived as having very little presencein most industries, particularly in wholesale and retail trade (excluding textile).• Only 94,800 of more than 1.3 retail million micro-merchants in Bangladeshare women, reports a 2018 UNCDF review.• Labor force participation rate for women is only 36.3%.• Women constitute only above 10% of the total number of entrepreneurs inthe countryCHALLENGES FOR WOMENENTREPRENEURSCHALLENGES FOR WOMENENTREPRENEURSSocial Challenges• Patriarchal Norms and Values• Lack of opportunities as compared to men• Men want to keep their wives and daughters at home• Overall, a male dominated society• Having Children, and Familial Responsibilities• Must fulfill tradition role as housewives• Housework, caring for elders, rearing children• Fewer free hours than men• Alternative priorities and hence, are not motivated to expand theirexpertise• Legal, traditional, customary, cultural or religious constraints• Islamic-based norms such as “purdah”• Attitude of rural women less open than men (or the urban women)• May require permission from father, husband, or other family members• May hesitate interacting with or managing men• Simply not allowed to leave the home aloneCHALLENGES FOR WOMENENTREPRENEURSFour key factors identified as obstacles for setting up a enterprises:Production technologiesand skills Financial resourcesMarketing and productdevelopment ManagementGOVERNMENT INITIATIVES FORWOMEN ENTREPRENEURSHIPDEVELOPMENTGOVERNMENT INITIATIVES FORWOMEN ENTREPRENEURSHIPDEVELOPMENT• Article 28 of the constitutions of Bangladesh• The national Fifth Five Year Plans (1997 to 2002)• National Action Plan (NAP)• Poverty Reduction Strategy Paper (PRSP)• Establishment of a separate Ministry of Women’s Affairs• National Women Small and Medium Enterprise Forum• All commercial and non-banking financial institutions to provide a minimum loanof Tk 50,000 to women entrepreneurs each year.• Central Bank of Bangladesh has taken special policy measures and openedrefinance windows to facilitate development of women empowerment.• Bangladesh Bank’s Governor said,“We’ll be able to create nearly 10,000 women entrepreneursevery year if the initiative continues.”SUPPORT SERVICESSUPPORT SERVICES• Bangladesh Small and Cottage Industries Corporation (BSCIC)• Bangladesh Bank• State and private commercial banks• Financial institutions• Bangladesh Rural Development Board (BRDB)• Bangladesh Management Development Institute (BMDI)• Directorate of Women Affairs (DWA)• Development of Youth Development (DYD)• Bangladesh Manpower Training Bureau (BMTB)• Micro-industries Development and Assistance Services (MIDAS)• Job Opportunities and Business Support (JOBS)• NGO-MFIs MSME program(Parvin and Rahman, 2012)SUPPORT SERVICES• Women Entrepreneur Association of Bangladesh (WEAB)• Established in year 2000• Develop a support system for women entrepreneur and impart training on technical knowhow, design development and to create marketing links for their products• Created a platform for women entrepreneur to meet and network for their mutual benefit• Bangladesh Women Chamber of Commerce and Industry (BWCCI)• Established in June 2001• Country’s first chamber of commerce, which is exclusively working on women’s economicand social empowerment.• Supports the women business community by providing training, management & financialresource, and support networks.• Bangladesh Federation of Women Entrepreneurs (BFWE)• Founded in 2006• BFWE encourages women to support each other, to enhance recognition of theachievements of women in business, and promotes the growth of businesses throughresearch and sharing information.RECOMMENDATIONSThe policies are suggested for consideration of the concerned institutions including thegovernment:I) Govt agency and NGO’s to provide necessary training to the women members.Supervision of the activities of the different NGO’s programmes should be intensified.II) Appropriate technology to be introduced for rural women who work in the villages toincrease their working time towards production and earnings.III) Sufficient training to equip women with appropriate knowledge about enterprisedevelopment techniques.RECOMMENDATIONSIV) Institutions to supply a sufficient amount of credit to entrepreneurs at low interestrates, with simple terms and conditions.V) Recognition of participation of women in income earning activities.VI) Change of attitude and beliefs by the Bangladeshi societyThese measures will not only contribute to national economy considerably but willalso contribute socio-culturally and economically in development and growth ofwomen entrepreneurs significantly.THANK YOU!WORKS CITEDElam, Amanda B., Candida G. Brush, Patricia G. Greene, Bejamin Baumer, Monica Dean, and ReneHeavlow. Global Entrepreneurship Monitor 2018/2019 Women’s Entrepreneurship Report, 2019.https://www.babson.edu/media/babson/assets/blank-center/GEM-2018-2019-Women’sReport.pdf.Haq, Syed Moudud. “Women Entrepreneurship Development In Bangladesh Challenges AndProspects,” 2013.https://www.researchgate.net/publication/281115595_Women_Entrepreneurship_Development_In_Bangl adesh_Challenges_And_Prospects.“Human Development Reports.” Population living below $1.25 PPP per day (%) | Human DevelopmentReports. Accessed May 3, 2020. http://hdr.undp.org/en/content/population-living-below-125-ppp-day.Kabir, Mohammad Shahjahan. “Advancement of Rural Poor Women through Small EntrepreneurshipDevelopment: The Case of Bangladesh,” September 2011.https://www.researchgate.net/publication/265982973_Advancement_of_Rural_Poor_Women_through_S mall_Entrepreneurship_Development_The_Case_of_Bangladesh.“Micro Entrepreneurs Asia – Micro Merchant & FMCG Programs in Bangladesh.” Micro Entrepreneurs Asia –Micro Merchant & FMCG Programs in Bangladesh. Accessed May 3,2020.https://www.microentrepreneursasia.com/. WORKS CITEDNawaz, Faraha. “Critical Factors of Women Entrepreneurship Development in Rural Bangladesh .”Bangladesh Development Research Working Paper Series (BDRWPS) , May 2009.http://bangladeshstudies.org/files/WPS_no5.pdf.Pavrin, and Rahman. “Women Entrepreneurship Development in Bangladesh.” African Journal ofBusiness Management 6, no. 11 (2012).https://www.researchgate.net/profile/Wakilur_Rahman/publication/260287604_Women_entrepreneurship_development_in_Bangladesh_What_are_the_challenges_ahead/links/00b495308a37c1b114000000/Women-entrepreneurship-development-in-Bangladesh-What-are-thechallenges-ahead.pdf.Shah, Hina Shah and, and Punit Saurabh. “Women Entrepreneurs in Developing Nations: Growthand Replication Strategies and Their Impact on Poverty Alleviation.” Technology InnovationManagement Review, August 2015.https://timreview.ca/sites/default/files/Issue_PDF/TIMReview_August2015.pdf#page=34.Sultana, Afiya. “Promoting Women’s Entrepreneurship through SME: Growth and Development inthe Context of Bangladesh.” IOSR Journal of Business and Management, 2012.https://pdfs.semanticscholar.org/5809/a180773e040131f04be124911b372449620f.pdf.WORKS CITEDTambunan, Tulus. “Women Entrepreneurship in Asian Developing Countries: Their Development andMain Constraints.” Journal of Development and Agricultural Economics 1, no. 2 (May 5, 2009).http://www.africres.org/SMME Research/SMME Research General/Journal Articles/Womenentrepreneurship in Asian developing countries.pdf.World Economic forum. Global Gender Gap Report 2020, n.d.http://www3.weforum.org/docs/WEF_GGGR_2020.pdf.

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