The World Bank and the SME Foundation have set up an online platform to assist women entrepreneurs in marketing their products named SMEF Suppliers Platform for women entrepreneurs.
The officials of the SME Foundation and the World Bank inaugurated the platform at an event held in the capital on June 16.
SME Foundation Chairperson Prof Md Masudur Rahman in his welcoming remarks said that there are about one million small and medium industries and about 6.8 million cottage industries in the country and among which 7.21% of them are being run by women entrepreneurs.
“The number of women entrepreneurs in the country is increasing at a significant rate every year due to the creation of a conducive working environment for women and various incentives,” he added.
However, the participation of women entrepreneurs in the corporate supply chain and in corporate businesses in Bangladesh is very low.
They are not able to join corporate houses due to various reasons including inability to produce quality products, lack of required capital, inability to connect to the suitable market, lack of information on demand for corporate houses, and unequal market competition.
On the other hand, due to a lack of necessary platforms, lack of ability to work with women entrepreneurs, lack of information about their products, and inability to realize the far-reaching consequences of cooperating with women entrepreneurs, corporate houses cannot buy products from women entrepreneurs.
Research conducted by the SME Foundation shows that product market connectivity is one of the major barriers for women entrepreneurs.
This problem is more pronounced in the early stages of starting a business.
The SMEF Suppliers Platform for Women Entrepreneurs formed by the World Bank and the SME Foundation, in collaboration with various trade associations of women entrepreneurs, will help women entrepreneurs to find a market for their products, especially corporate houses.
Moreover, financial institutions will be able to present their loan information to women entrepreneurs on this platform and will arrange financing by evaluating the business profile of those women entrepreneurs.
As a result, women entrepreneurs, corporate houses and financial institutions will benefit from using this platform.
Mercy Miyang Tembon, country director of Bangladesh and Bhutan of the World Bank also participated in the inaugural program.
