The word entrepreneurship carries the same meaning for everyone but women are far behind in society, and that’s why women are given special status. The term “women entrepreneur” refers to that section of women in society who participate in industrial activities and other businesses in villages or towns such as repair/service, manufacturing, assembly, or job work. The Bangladesh government deals with women entrepreneurs with different criterion-level for women’s participation in enterprise equity and employment positions.
Women entrepreneurs can be defined differently as a woman or a group of women who initiate, organize and manage a business. By innovating women, society is expected to emulate or undertake economic activities called women entrepreneurship.
What is a Women’s Entrepreneur?
Promoting women’s values, empowerment, and women’s rights have emerged as a part of a larger global movement and has been breaking new ground in recent years. Days like International Women’s Empowerment Day are also gaining momentum.
Women’s empowerment can therefore be defined as women’s sense of self-worth, emotional value, the ability to make their own choices, and the right to affect social change for themselves and others. Closely linked to women’s empowerment – a basic human right that is key to building a more peaceful, prosperous world. In developed countries, women’s empowerment has historically been associated with specific phases of the women’s rights movement.
Despite so much progress, girls, and women in every corner of the world Various forms of discrimination and violence continue to be faced.
They have been able to make their position in business because of the following reasons
(i) Women in the developed world want change to control the balance between their family responsibilities and their business life. A micro-business can easily fit into a woman’s lifestyle. And expansion may mean a loss of control or a restriction on the amount of time he invests in other aspects of his life. He may even want to maintain supervision and control over every aspect of his life.
(ii) Women are ready for innovative and competitive jobs and want to prove their skills.
(iii) They seek new challenges and opportunities for self-gratification in all fields.
Essentials of Women Entrepreneurs
Below are some terms that a woman entrepreneur must know:
- He must be educated and skilled.
- To be a good entrepreneur one must take professional education.
- Be highly resilient, i.e. capable enough to innovate and ability to tolerate risk and uncertainty.
- She should have the ability to compete with established male competitors and dare to overcome all obstacles.
- Able to avail of various schemes and aids provided by Govt.
- He should be capable enough to make autonomous investments or finance at the beginning of the business.
- He must have some morality and egoism and if necessary be arrogant.
Women’s Entrepreneur Financing
| Bank Name | Package Name | Loan Amount | Interest Rate | Loan Tenure |
|---|---|---|---|---|
| BRAC Bank | Tara Uddokta Sme Loan | BDT 4 lac or Any amount | 7.00% (up to BDT 50 lac) | Up to 36 months |
| NRB Bank | NRB Prerona | Maximum BDT 5,000, 000 | 10% p.a | Up to 60 months |
| Bank Asia | Subarno – Term Loan for all | Up to 50 lac | 9.00% | Up to 36 months |
| IDLC | PURNOTA | Up to 35 lac | 9.00% | Up to 60 months |
| DBBL | Women Entrepreneurs Financing | BDT 10,000,000 | 10% p.a | Up to 60 months |
| LankaBangla Finance | Anonnya | Up to BDT 5.0 million | 5.00% | Up to 60 months |
Below are the industries run by women entrepreneurs and in many cases they start after family work
- Running schools and tutorials
- Handicrafts
- Embroidery
- Working Women’s Hostel/ Women’s Hostel
- Catering Services
- Production of Agarbatti
- Beauty parlor
- Preparation of papad
- Telephone booth
- Photographic studio
- Organic Fertilizer for Small Livestock Farm
- Travel Agency.
Read: EBL WOMEN’S LOAN
Successful women entrepreneurs in Bangladesh
Today, we find women in almost all types of industries, traditional as well as non-traditional, such as electronics, engineering, jewelry, sewing and tailoring, fashion designing, Agarbati, candle and soap manufacturing, resin bags, soft toy making, various spices, etc.
In Summarized, women entrepreneurs need an integrated movement approach to succeed. The development of women entrepreneurs should be ensured as soon as possible and apex bodies should be formed at all levels to ensure their equitable gender economic life.