Potential Business Opportunities for Women Entrepreneurs in Bangladesh

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

2. Prepared For Dr. A. F. M. Aowrangazab Professor Department of Management Studies University of Chittagong

3. Group Members • Rubina Easmin • KhaledaBegum • TumpaBarua • SammiAkter • TazinIsmatNiti 4th Year BBASession: 2005-2006Department of Management Studies University of Chittagong

4. Contents • Potential Business Opportunities for Women Entrepreneurs in Bangladesh • Nursery Business • Catering Business • Party Planning Business • Grocery Delivery Business • Home Decoration Business • Bangladesh Women Chamber of Commerce & Industry • Obstacle for Women Entrepreneurs • Challenges & Suggestions for Women Entrepreneurs

5. Personal Profile Rubina Easmin Class Roll:4910 Exam Roll: 2006/92 Department of Management Studies University of Chittagong

6. 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.

7. Potential Business Opportunities for Women Entrepreneurs in Bangladesh • Many 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.

8. Nursery Business If 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 location Business license Property zoning Availability of water for irrigation Costs in Nursery Business: The costs of nursery production include- Overhead Cost, Direct & Marketing Costs.

9. Personal Profile Khaleda Begum Class Roll:5011 Exam Roll: 2006/68 Department of Management Studies University of Chittagong

10. Catering Business The 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

11. 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.

12. Party Planning Business Party 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.

13. 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·.

14. Personal Profile TumpaBarua Class Roll:4923 Exam Roll: 2006/57 Department of Management Studies University of Chittagong

15. 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 financing • Primary source • Secondary source

16. Interior Decoration There 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

17. Personal Profile SammiAkter Class Roll:5013 Exam Roll: 2006/85 Department of Management Studies University of Chittagong

18. 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

19. 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.

20. 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.

21. Personal Profile TazinIsmatNiti Class Roll:4913 Exam Roll: 2006/78 Department of Management Studies University of Chittagong

22. Challenges for Potential Women Entrepreneurs • Limited access to credit, marketing networks & modern technology • Lack of self-confidence and personal security • Risks of harassment and other social and cultural barriers • Restrictions on mobility • Low educational levels and scant training opportunities • Heavy household chores • Lack of peer-support networks • Inferior status in society and gender-biases in general • Severe competition from organised units both in domestic and international markets.

23. 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

24. 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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