Most women entrepreneurs do not get support from FIs : Study

Most women entrepreneurs of the country are still out of the financial services as only 19 per cent of them have access to finance, a study reveals.
Besides, 15.5 per cent of the women entrepreneurs are involved in export business, 1.5 per cent in import and 83 per cent in trading and services, the study said. About 50 per cent of the rural and more than 50 per cent of the urban women entrepreneurs do not have trade licence, it added.
These were revealed during a daylong Women Entrepreneurs Conference and Product Exhibition Thursday at a city hotel. The SME and Special Programme Department of Bangladesh Bank (BB) in collaboration with all bank and non-bank financial institutions, Japan International Cooperation Agency (JICA), Care Bangladesh and Standard Chartered Bank organised the event aiming to promote women entrepreneurs and accelerate financing to ensure women empowerment.
BB governor Atiur Rahman inaugurated the conference and exhibition as the chief guest while Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Kazi Akram Uddin Ahmed, Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) president Rokia Afzal Rahman, Care Bangladesh country director Jamie Terzi, Association of Bankers, Bangladesh (ABB) chairman and Eastern Bank Ltd (EBL) managing director Ali Reza Iftekhar were present, among others, as the special guests.
The study was conducted by SME Foundation, Bangladesh Women Chamber of Commerce and Industry (BWCCI) and SEDF of IFC.
According to the study, 85.41 per cent of the business enterprises are under proprietorship while 9.4 per cent are family concern and 4.54 per cent are partnership ownership.
The study also identified some of the key reasons for women's reluctance to enter into business. Data showed 32.1 per cent women do not want to be entrepreneurs as their families do not like it, 5.5 per cent due to opposition by their children, 11.3 per cent do not come in business due to social barriers, 9.6 per cent because their husbands do not support it and 29.7 per cent do not want to be entrepreneurs as per their own decision.
In his speech, Atiur Rahman said more than 500 women entrepreneurs have participated in the conference and exhibition at 80 stalls. The participation of women in labour force has been increasing but now is the time to stimulate their self- power for their development.
The ongoing credit programme for the women entrepreneurs will continue even after his retirement from the post of the governor as it has been institutionalized Mr Atiur said while responding to a concern expressed by Rokia Afzal Rahman.
Mr Rahman noted that to bring change in the mindset of men is still a challenge and financing is a major problem for the women empowerment.
He urged the authority concerned to set up a separate economic zone for the women entrepreneurs.
Rokia Afzal Rahman said many banks are genuinely helping women entrepreneurs by providing them with loans, but still there are many banks which are not friendly towards their development.
She said women have just started as small and medium entrepreneurs but they have to grow as the bigger enterprises and they will need the help of the financial institutions.  
Ali Reza Iftekhar said although women have significant achievements in social sector, their participation is still neglected in the economic activities. Congenial business environment has to be created for women entrepreneurs while families should encourage more women to come in business.
He called upon the financial institutions to bring 80 per cent of the women entrepreneurs under the coverage of financial services.
SME Faculty consultant of Bangladesh Institute of Bank Management (BIBM) Sukumal Sinha Chowdhury said lack of information on financial services is a real problem for the women entrepreneurs while many of them do not get the expected services from some of the financial institutions.
Many bank officials misbehave with them while many officials refuse to provide them collateral- free loan. Field level entrepreneurs still do not get required amount of loan in time of their need, he added.