Abstract
Women entrepreneurs play a substantial role in the sustainable economic development of various developed as well as developing countries in the world. In Bangladesh, the contribution of women entrepreneurs is still insignificant compared to other entrepreneurship due to a number of barriers to their financial inclusion. The current study tried to find out the problems faced with and the opinion of women entrepreneurs regarding the finance from commercial banks. The study used primary data from a sample survey, Key Informant Interview (KII) and in-depth interviews with the selected women entrepreneurs from Sylhet city of Bangladesh to meet the research objectives. Using Exploratory Factor Analysis (EFA), the study brings to life the fact that women entrepreneurs are reluctant to take the loan from banks because they have to face a number of problems there. Some of the major problems they faced are- collateral requirements, terms and conditions of bank loan, business characteristics and some other institution-specific problems to get access to bank finance. The findings of the study can aid the commercial banks in formulating their strategic decision about financing women entrepreneurs. In addition, this study indicates the way forward for the authoritative and supporting organizations of women entrepreneurs to formulate their action plans for the development of women entrepreneurship.
Highlights
Entrepreneurship refers to starting a new business or venture
The list of the entrepreneurs was collected from the different commercial banks providing the loan to women entrepreneurs, Sylhet Women Chamber of Commerce and Industries (SWCCI), Divisional Office of Bangladesh Women Chamber of Commerce and Industries (BWCCI), and Sylhet Chamber of Commerce and Industries (SCCI)
The current study found that to start the business, 75% of the women relied on own fund and family finance and very few (8.9%) get a loan from the commercial bank to start the business
Summary
Entrepreneurship refers to starting a new business or venture. Inadequate capital for starting a new business is one of the leading problems for the women entrepreneurs in Bangladesh. Women initiate their business with limited money collected by savings from family expenditure, relatives or other sources. Half of the population of the country are female whose role in the society is either as wife or mother. As a result, their contribution to the economy is not counted when calculating GDP or GNP of the country (BBS, 2016). Studies show that social recognition and need for achievement is one of the most significant motivating factors for the success of women entrepreneurs (Alam et al, 2011)
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