Editorial
Women entrepreneurship
Its vulnerability should be mitigated
As successful women entrepreneurs are leading the way, more and more women are being drawn to follow in their footsteps. It is at this stage of edging out in different directions of enterprise that they are having to face newer challenges. These are in terms of access to information and resources, acquiring required entrepreneurial skill, overcoming vestigial remnants of social barriers and, above all, tiding over their vulnerability to corruption.
A study titled "The impact of corruption on women entrepreneurs" encompassing 300 women in business in the six divisional headquarters of the country, has brought into a sharp focus their susceptibility to corruption and malpractice. We regarded it as a timely and relevant study conducted by Bangladesh Women's Chamber of Commerce and Industry(BWCCI) in view of a spurt in allocations of credit to them under the micro credit and SME financing programmes.
The women interviewed have a common story to tell: they are facing corruption from the start through the pick-up phase to the commencement of the project. They encounter pressure for bribe while procuring trade licence, garnering seed money, expanding their businesses through bank loans and payment of utility charges, particularly electricity. The statistics speak for themselves: 60 per cent were asked to pay bribe when applying for trade licence, 10 per cent had to give bribe to get the licence; 20 per cent fell victim to corruption while applying for bank loans with 37 per cent asked to pay bribe; and 47 per cent were asked to pay bribe in obtaining TIN.
We endorse the major recommendations of the study and wish to see them implemented. Indeed, the government should announce a Women Entrepreneurs' Development Policy designed to facilitate growth of women enterprise through a removal of impediments they are currently hamstrung with. Secondly, there should be adequate budgetary allocations to boost women entrepreneurship. Last but not least, there should be one-stop service for them at all points involved in promoting their enterprise.
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