The challenge to female success

Establishing and sustaining a business is far from easy in Bangladesh. And it is definitely more difficult for women. For women, the challenge is two-fold. Not only are they faced with the lack of support to expand their business, but they also face prejudice about what kinds of businesses women can run. However, braving the odds women entrepreneurs in Bangladesh are coming to the forefront in Bangladesh. And the government has shown time and again that it is prepared to provide a fillip to Bangladeshi women entrepreneurs.

To reduce the gender gap and increase the overall number of young people in the workforce, the government has embarked on an ambitious plan to provide skills training to 1.9 million young people, 30 per cent of whom are expected to be in the entrepreneurial sector. To do so, the government has been allocating resources for human development, forging public-private partnerships, strengthening the link between training and the job market, creating employment opportunities, and encouraging the growth of businesses. Consequently, women’s labour force participation in Bangladesh rose from 24 per cent in 2000 to 36 per cent in 2020, according to the BBS report.

In Bangladesh, women constitute around 10 per cent of the total number of entrepreneurs in the country. Many women have surpassed their male counterparts in the small and cottage industries, especially the handicrafts sector; while many courageous entrepreneurs have excelled in Small and Medium Enterprises (SMEs).

According to a recent report published in this newspaper on the occasion of the 75th birth anniversary of Prime Minister of Bangladesh Sheikh Hasina, 1000 women entrepreneurs were given grants of Tk 50,000 each at a programme held in the capital.

The Innovation Design and Entrepreneurship Academy (iDEA) Project of Bangladesh Computer Council (BCC) under the ICT Division organised the “Smart Women Entrepreneurs Grant Giving Ceremony 2022” at the Hall of Fame of Bangabandhu International Conference Center (BICC).

This kind of support is always welcome but a lot more needs to be done to help women-run businesses. Women have come a very long way, occupying some of the highest seats and being represented at every forum. However while women are more included but many are still marginalised in terms of freedom of choice, freedom of making their own financial decisions, freedom of speech, and freedom of socially behaving the way they want.

The corona pandemic took a heavy toll on women entrepreneurs. According to the Centre for Policy Dialogue (CPD), after the pandemic broke out, only 49 per cent of the 70 cottage, micro, small and medium enterprises (CMSMEs) owned by women in Bangladesh remained operational. In contrast, 41 per cent were forced to shut down entirely. The study also revealed that 23 per cent of female-owned CMSMEs cut down employee salaries by approximately 25 per cent, while 44 per cent were unable to pay their rent. According to a BRAC survey of 589 female business owners, 90 per cent experienced difficulties due to the pandemic, and 41 per cent were compelled to lay off employees as a result of a sharp decline in income.

Society in general tends to think those female entrepreneurs are not able to scale up or create big businesses. People even now question progress with scepticism assuming it is based on luck. They forget that being a female entrepreneur, the work is often double that of their male counterparts. The powers that be must stress the need to develop an enabling environment for women entrepreneurs, and draw upon their experiences to warn against letting literacy and social class become barriers for women seeking skills and opportunities.

Empowered women in income-generating activities not only survive, prosper and provide financial support for their families, but they also support women-to-women business potential in the form of training in strategic business development and assistance with marketing skills.