Potential Business Opportunities for Women Entrepreneurs in Bangladesh Prepared By: Delphi.

Potential Business Opportunities for Women

Entrepreneurs in Bangladesh

Prepared By: Delphi

Prepared For

Dr. A. F. M. Aowrangazab

Professor

Department of Management Studies

University of Chittagong

Dr. A. F. M. Aowrangazab

Professor

Department of Management Studies

University of Chittagong

Group Members

• Rubina Easmin• Khaleda Begum• Tumpa Barua• Sammi Akter• Tazin Ismat Niti

4th Year BBASession: 2005-2006

Department of Management Studies University of Chittagong

4th Year BBASession: 2005-2006

Department of Management Studies University of Chittagong

Contents

Potential Business Opportunities for Women Entrepreneurs in BangladeshNursery BusinessCatering BusinessParty Planning BusinessGrocery Delivery BusinessHome Decoration BusinessBangladesh Women Chamber of Commerce & IndustryObstacle for Women EntrepreneursChallenges & Suggestions for Women Entrepreneurs

Personal Profile

Rubina EasminClass Roll:4910

Exam Roll: 2006/92Department of Management Studies

University of Chittagong

Potential Business Opportunities for Women Entrepreneurs in Bangladesh

An entrepreneur is someone who undertakes an enterprise, owns and manages a business with a vision to making a profit by using innovative ideas.

Entrepreneurship depends on specific knowledge, skills, mentalities and attitudes. In principle, there should be no difference between men and women. In reality, various constraints limit women’s opportunities to realise their full potential.

Bangladesh is an example of this unfortunate trend. Influential NGOs are making a difference however.

Potential Business Opportunities for Women Entrepreneurs in BangladeshMany opportunities can be started even from one's home, and this is applicable to women who also take care of their families.  Find out what interests you. Determine how much start-up cost you can afford. Look around for what your neighbors’ needs. Take advantage of your resources Be open to more ideas.

Nursery BusinessIf a woman have some space, a source of water, and a ton of ambition, she may try at operating a plant nursery.

Steps in Nursery Business:Check the legal authorities in your locationBusiness licenseProperty zoningAvailability of water for irrigation

Costs in Nursery Business:

The costs of nursery production include- Overhead Cost, Direct & Marketing Costs.

Personal Profile

Khaleda BegumClass Roll:5011

Exam Roll: 2006/68Department of Management Studies

University of Chittagong

Catering BusinessThe catering business is one of the most lucrative &

profitable home businesses with a high potential for expansion & growth. It is both financially rewarding & fun.

A catering business is best suited for a person who has passion for cooking and planning.

Type of Catering Business: Mobile catering Event catering Boxed Lunch Catering

Catering Business

Needed Equipment Other than a commercial kitchen, the only things a

woman need to get started are a phone and a delivery vehicle.

A computer and printer are always nice but not a necessity for starters.

A woman can get around the kitchen problem by arranging to use a restaurant's facility for a small fee in its off-hours or by sharing the rental costs of a commercial kitchen and its use with other caterers.

Party Planning BusinessParty planning requires very little start-up money, so it could

be the perfect choice for those with small capital.

As an events coordinator or party planner, one will be involved in organizing all details of occasions such as anniversary celebrations, family reunions, birthday parties, weddings, retirement parties etc.

Instructions: Team up with an experienced party planner to gain

experience & learn the trade before start own business. Great multi-tasking skills is necessary. Decide how to charge for the services. Understand food and beverage. Know all about entertainment choices.

Party Planning Business

A general guideline to start a party planning business are:

Determine the start-up costs & find funds to launch business

Organize oneself to easily handle the multiple projects which have to work on

Hire part- & full-time employees Market one’s services to bring in the business Expand one’s offerings to offer complete party

packages·.

Personal Profile

Tumpa BaruaClass Roll:4923

Exam Roll: 2006/57Department of Management Studies

University of Chittagong

Grocery Delivery Business

Start a grocery delivery business and making it successful could be the beginning of a highly profitable small business venture.

Steps of Grocery Delivery Business Find a good location for your business. Decide the delivery charges and fees. Determine the delivery timeline. Market the grocery delivery business by advertising.

Source of financingPrimary sourceSecondary source

Interior DecorationThere are few careers that offer so many benefits. As an

interior decorator women will have the satisfaction of making their vision a reality.

Steps to be an interior decorator Train your eye and Educate yourself Practice at home. Prepare a portfolio and Start your own business. Establish relationships with suppliers and Get clients. Grow as a professional

Source of financing Self-investment Public and private bank and financial institution

Personal Profile

Sammi AkterClass Roll:5013

Exam Roll: 2006/85Department of Management Studies

University of Chittagong

Bangladesh Women Chamber of Commerce & Industry

BWCCI’s Major Programs and Services: Communication and information support through business

center. Provide support to women entrepreneurs in marketing of their

product and services at local, national and international level Facilitate women SME to participate in national and

international trade fair Helpdesk and legal advice particularly for company registration,

TIN and VAT registration, export and import procedures Facilitate women entrepreneurs to get access to finance, act as

loan guarantor  Develop network and partnership with NGO, community based

organizations, civil society organizations, business community, donor organization at the local, national and international level to promote women in business and industry. 

Advocacy for policy formulation and execution in favor of women in business and industry

Obstacle for Women Entrepreneurs

Registration & Legal Obligations:

Women face a lot of obstacles at Govt. offices while making or renewing trade license, ISO Certificate or such other document.

Complicated taxation rules & nontransparent procedures make it very difficult for women entrepreneurs to handle matters independently.

Fund Generation:

Women face lot of problem getting loans approved and in cases end up paying interest at much higher.

Obstacle for Women Entrepreneurs

Social Negativity:There is a class of people who are unwilling to support

women entrepreneurs.

Unskilled or Semiskilled Workforces:Unskilled workforce employed by SMEs, result in lower

quality product and inefficient production process that lead to lower productivity.

Procurement of Raw Materials:Due to lack of enough working capital, SME business

women pay higher price since they cannot buy in bulk.

Personal Profile

Tazin Ismat NitiClass Roll:4913

Exam Roll: 2006/78Department of Management Studies

University of Chittagong

Challenges for Potential Women Entrepreneurs

Limited access to credit, marketing networks & modern technology

Lack of self-confidence and personal securityRisks of harassment and other social and cultural

barriersRestrictions on mobilityLow educational levels and scant training opportunitiesHeavy household choresLack of peer-support networks Inferior status in society and gender-biases in generalSevere competition from organised units both in domestic

and international markets.

Suggestions for Increasing Women Entrepreneurs in Bangladesh

Women entrepreneurs should be provided special facilities to develop their enterprises. These include:

Development Banks with separate advisory service cell for women

Arrangement of exclusive fairs to promote products manufactured by small & cottage based units

Fixed quota of stalls for women entrepreneurs at export fairs

Special market facilities both in the domestic and the international arena

For new women enterprise tax may considerably reduced or exempted

The procedure for Tax Identification Certificate should be simplified

Procedure for Income Tax should simplified and made investment friendly

Conclusion

A research study conducted by the Bangladesh Women Chamber of Commerce and Industry reveals that women entrepreneurs are more likely to hire other women.

In addition to creating jobs opportunities for women, such a trend will result in an overall increase in the progress of women in the country. Greater participation of women in remunerative work will not only improve their living conditions but also improve their bargaining positions.

Employed women will have better access to mainstream banking services which will help them to save & invest their income in tangible assets.

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