Women entrepreneurs call for easier access to funding

Women entrepreneurs have called for funding for their start-ups so that the budding businesses can have the initial capital base without requiring collateral.
"The country's financial policy should be revised to grant access to financing for women entrepreneurs starting up," said Dr Nadia Binte Amin, president of the Women Entrepreneurs Network for Development (WEND).
At a seminar organised by the Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) Women's Forum, she said that it's a fight of WEND to ensure access to finance for women entrepreneurs.
BMCCI organised the programme at a city hotel on Wednesday, focusing on women's empowerment titled 'SheMeansBusiness: Empowering Women Entrepreneurs in the Digital Economy'.
Malaysian High Commissioner to Bangladesh Haznah Md Hashim attended the programme as the chief guest, while lawmaker and President of the Bangladesh Women Chamber of Commerce and Industry (BWCCI) Selima Ahmad attended as the special guest.
BMCCI President Syed Almas Kabir moderated a panel discussion that centred on the pros and cons of women in businesses.
The distinguished panellists included WEND President Ms Amin, e-CAB Women's Forum President Naznin Nahar, Director of Women in E-commerce Trust (WE) Syeda Lutfunnahar and Head of Women Entrepreneur Cell at BRAC Bank Tara Khadija Mariam.
Ms Mariam said women are the most efficient re-payers of bank loans compared to their male counterparts.
She said women entrepreneurs constitute less than one per cent of the non-performing loans at BRAC Bank. However, the dropout ratio in businesses is relatively higher for women.
BRAC Bank disburses loans without collateral to women entrepreneurs but assesses their ability to repay.
"We are not permitted by the central bank to provide seed capital [money to begin developing an idea for a business] to women entrepreneurs," she said.
According to Ms Mariam, taking loans from banks is an advanced decision that requires preparation by businesses.
She said banks can only disburse loans to the formal sector. "Those who have not yet started businesses will not be entitled to bank loans."
Ms Nahar said that proper strategies and planning are needed to sustain businesses.
Mr Almas Kabir said a cross-border e-commerce policy is now under process, which will expedite the proceeding of women entrepreneurs accessing international markets, including Malaysia.
He vowed to provide women entrepreneurs with all sorts of assistance to help them gain market access to Malaysia. According to him, business between Bangladesh and Malaysia is easier due to some shared cultural values.
Ms Lutfunnahar said there is no knowledge hub or platform for women entrepreneurs to learn about the process of exporting goods to Malaysia.
She also said that male domination in decision-making is one of the major challenges faced by women entrepreneurs.
All of the discussants underscored the adoption of digital technology to move forward.
The Malaysian High Commissioner said equal opportunities for women entrepreneurs should be ensured to facilitate their engagement in digital businesses.
She said that 80 per cent of the e-commerce platform in Malaysia is dominated by women entrepreneurs.
Ms Selima Ahmad said digital literacy is a key element for women entrepreneurs to become successful. She said women entrepreneurs face several challenges on their path to success, but strong determination can help them overcome those.
At the end of the seminar, BMCCI signed a Memorandum of Understanding (MoU) with WEND, e-CAB Women's Forum and BRAC Bank.

doulotakter11@gmail.com