A STUDY ON FUNDING AND FINANCIAL STRATEGY FOLLOWED BY WOMEN ENTREPRENEURS: A NEW WAY TO ENTREPRENEURIAL GROWTH OF BANGLADESH
Abstract
Managing funds for venturing into a new business is a very challenging task for women. The goal of the study is to recognize congenial sources from where they can easily get funds to start their business and after starting a business which financial strategy they follow to expand their enterprise. To perform this task, primary data collection was carried out through a well-designed questionnaire and a total of 180 women entrepreneurs from different parts of the country took part in this program spontaneously. It is observed that usually women do not get bank loans easily, but they discovered that semiformal and informal sources of funds are available for their business and these loans help them to achieve the entrepreneurial goal. Although the interest rate is much higher, to be self-employed women must collect funds from these sources. 77 percent of women withdraw profit and their business follows the start small and stay small characteristics, but others save and re-invest their profit to expand the business operation. Despite the great loss caused by the Covid-19 pandemic, it is a light of hope that some women are doing very well by using the digital platform and providing home delivery services. From this paper, the new women entrepreneur can perceive what should be done and they will go through the right way. By following former entrepreneurs, they should take the right decision and bring success assuredly.
References
Afroze, T., Alam, M. K., Akther, E., & Jui, N. S. (2014). Women entrepreneurs in Bangladesh Challenges and determining factors. Journal of Business and Technology (Dhaka), 9(2), 27-41.
Aggarwal, R., Goodell, J. W., & Selleck, L. J. (2015). Lending to women in microfinance: Role of social trust. International Business Review, 24(1), 55-65. https://doi.org/10.1016/j.ibusrev.2014.05.008
Ali, M. J., & Rana, M. M. (2016). Women entrepreneurship of Bangladesh: A contextual study on beauty parlor business of Rangpur expanse. International Journal of Business and Economics Research, 5(3), 61-70.
Brush, C., Greene, P., Balachandra, L., & Davis, A. (2018). The Gender Gap in Venture Capital- Progress, Problems, and Perspectives. An International Journal of Entrepreneurial Finance, 20(2), 115-136.
Chatterjee, C., & Ramu, S. (2018). Gender and its Rising Role in Modern Indian Innovation and Entrepreneurship. IIMB Management Review, 30(1), 62-72. https://doi.org/10.1016/j.iimb.2017.11.006
Chowdhury, F. N. (2017). A Study of Entrepreneurship Development in Bangladesh: Pros and Cons. Journal of Asian Scientific Research, 7(1), 1-11.
D’Espallier, B., Guérin, I., & Mersland, R. (2011). Women and Repayment in Microfinance: A Global Analysis. World Development, 39(5), 758-772. https ://doi.org/10.1016/j.worlddev.2010.10.008
Drori, I., Manos, R., Santacreu-Vasut, E., Shenkar, O., & Shoham, A. (2018). Language and Market Inclusivity for Women Entrepreneurship: the Case of Microfinance. Journal of Business Venturing, 33(4), 395-415. https://doi.org/10.1016/j.jbusvent.2018.02.002
Drori, I., Manos, R., Santacreu-Vasut, E., & Shoham, A. (2020). How Does the Global Microfinance Industry Determine its Targeting Strategy Across Cultures with Differing Gender Values? Journal of World Business, 55(5), 100985, https://doi.org/10.1016/j.jwb.2019.02.004
Fall, F.S., Tchuigoua, H. T., Vanhems, A., & Simar, L. (2021). Gender Effect on Microfinance Social Efficiency: A Robust Nonparametric Approach. European Journal of Operational Research, 295(2), 744-757. https://doi.org/10.1016/j.ejor.2021.03.020
Faruk, M. O., Hassan, N., & Islam, N. (2016). Factors Influencing the Development of Social Entrepreneurship in Bangladesh. http://dx.doi.org/10.2139/ssrn.2856210
Muravyev, A., Talavera, O., & Schäfer, D. (2009). Entrepreneurs’ Gender and Financial Constraints: Evidence from International Data. Journal of Comparative Economics, 37, 270-286. https://doi:10.1016/j.jce.2008.12.001
Murshid, N. S., & Ball, A. (2018). Examining Women's Physical Mobility and Microfinance Participation in Bangladesh: Results from a Nationally Representative Sample. Women's Studies International Forum, 69, 33-39, https://doi.org/10.1016/j.wsif.2018.04.009
Mwobobia, F. M. (2012). The Challenges Facing Small-Scale Women Entrepreneurs: A Case of Kenya. International Journal of Business Administration, 3(2), 112-121. http://dx.doi.org/10.5430/ijba.v3n2p112
Nyamwanza, T., Mapetere, D., Mavhiki, S., & Dzingirai, C. (2012). Financial Management: Case Study of Gweru Women Entrepreneurs. International Journal of Business and Social Science, 3(18), 99-106.
Othman, M. B. (2015). Role of Women in Achieving Shared Prosperity: An Impact Study of Islamic Microfinance in Malaysia. Procedia - Social and Behavioral Sciences, 211, 1043-1048. https://doi.org/10.1016/j.sbspro.2015.11.139
Shahriar, A. Z. M., & Shepherd, A. (2019). Violence against Women and New Venture Initiation with Microcredit: Self-efficacy, Fear of Failure, and Disaster Experiences. Journal of Business Venturing, 34(6), 105945.
Vladasel, T., Lindquist, M. J., Sol, J., & Praag, M. V. (2020). On the Origins of Entrepreneurship: Evidence from Sibling Correlations. Journal of Business Venturing. https://doi.org/10.1016/j.jbusvent.2020.106017
Witbooi, M., & Ukpere, W. (2011). Indigenous Female Entrepreneurship: Analytical Study on Access to Finance for Women Entrepreneurs in South Africa. African Journal of Business Management, 5(14), 5646-5657. https://doi.org/10.5897/AJBM10.1161
Copyright (c) 2021 Jesmin Ara
This work is licensed under a Creative Commons Attribution 4.0 International License.
