The SMEF Suppliers Platform for Women Entrepreneurs has been set up at the initiative of the World Bank and the SME Foundation to help market especially the products of women entrepreneurs. On June 16, 202.
Mercy Miyang Tembon, Country Director of Bangladesh and Bhutan of the World Bank was the guest of honor at the inaugural function presided over by SME Foundation Chairperson Prof. Dr. Md. Masudur Rahman.
SME Foundation Managing Director Dr. Md. Mofizur Rahman delivered his welcome speech. It was informed at the function that there are about 1 million small and medium industries and about 68 lakh cottage industries in the country; Of which 7.21 percent is 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 conducive working environment for women and various incentives.
However, the participation of women entrepreneurs in the corporate supply chain in Bangladesh is very low. On the other hand, one-third of all SME ventures worldwide are owned by women entrepreneurs. A study of 80 multinational corporations run by Fortune-500 found that only 1% of the $ 1 trillion in sales per year go to women-owned companies. And it goes without saying that women entrepreneurs in Bangladesh are not involved in corporate buying and selling.
Women entrepreneurs are not able to be associated with corporate houses due to various reasons including inability to produce quality products, lack of required capital, inability to connect to suitable market, lack of information about demand for corporate houses, unequal market competition.
On the other hand, due to lack of necessary platforms, lack of ability to work with women entrepreneurs, lack of information about their products, inability to realize the far-reaching consequences of cooperating with women entrepreneurs, corporate houses are also unable to purchase 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 study found that while 37 percent of women entrepreneurs mentioned the capital crisis in business, 20 percent of women entrepreneurs identified product marketing as their main problem.
It may be mentioned that the Ministry of Industries has already finalized the draft of the Sub-Contracting Act with the obligation to collect at least 25% of the government procurement from the SME sector through the efforts of SME Foundation. If the law goes into effect, the market for the SME sector is expected to grow at a significant rate. The SME Foundation recommends that SME entrepreneurs, especially women entrepreneurs, make the necessary preparations to take advantage of this opportunity. The World Bank and the SME Foundation, in collaboration with various trade associations of women entrepreneurs, will include information on the SMEF Suppliers Platform for Women Entrepreneurs. This platform will help women entrepreneurs to find a market for their products, especially corporate houses. In addition, it will help corporate houses to find women entrepreneurs in the procurement process. Besides, financial institutions will be able to present their loan information for 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.
A woman-entrepreneur, corporate and financial institution representative can register herself at this address .
