Women building foothold in business

Building a business career in Bangladesh is not so easy; the entrepreneurs have to face challenges in every step to be successful. It is even more challenging if the entrepreneur is a woman due to social taboos.

But with the change of time, the brilliant and hard working women have proved their caliber in setting up business and running them successfully over the years. They are performing equally with their male counterparts in the business world.

The women entrepreneurs are now dominating in the large, medium and small enterprises by opening thousands of enterprises in the major sectors including banks, insurance, garment, export, import and finance.

Rubana Huq, managing director of Mohammadi Group, a leading garment maker, is one of the successful women who joined business in 1994 after her husband Annisul Huq was diagnosed with high blood pressure.

More than three million female workers in the garment sector shape the country's economy; but the road to overall success for female entrepreneurs is still a long shot, she said.

“However, day-by-day, more and more women are springing up with innovative businesses in small and medium scale,” said Rubana. “Being a woman is the most challenging as our society continues fending for traditions and mindsets that should have become obsolete long ago.”

In a male dominated society, facing male colleagues is part of being able to "make it" out there. Even if the journey of a female entrepreneur is supported by males, very often there are fewer women who support each other, she said.

“With wage inequality, and hostile workplace environments, it can be extremely difficult for a woman to make her mark and rise to the top,” said Rubana, who manages the garments division, real estate division the television channel of Mohammadi Group.

In the garment division alone, she manages 12,000 workers out of which 8,000 are women. The annual turnover of the garment division is $80 million.

Another successful woman entrepreneur Geeteara Safiya Chou-dhury, chairman of Adcomm, a leading advertising agency, also echoed the same views.

“A lot of progress has been made in the women entrepreneurship in Bangladesh over the years,” she said.

Previously, females were dependent on their male colleagues, but the situation has changed now as women can run their own businesses. The women enjoy more freedom and they learned thinking independently, said Choudhury, who faced so many oddities in her career.

Many female executives are now seen working in the corporate world nowadays due to the changes in the society, she said.

She started her business in 1974, and now manages 150 employees, of whom 25 are females. Her company's annual turnover is Tk 50 crore.

Family's support, which happened in her case, is very important for a successful woman entrepreneur, she said.

The biggest change that took place over the years is the financial institutions do not judge the women entrepreneurs as women; they are now considering them as entrepreneurs and providing funds to them, she said.

“The male counterparts think me as a competitor now,” she said. However, many women are not aware about easy access of finance in the banking system, she said.

Women are encouraged and feel confident if they are awarded and recognised for their outstanding entrepreneurial performance and contribution to the society, she said.

Selima Ahmad, president of the Bangladesh Women Chamber of Commerce and Industry (BWCCI), said it is encouraging that women entrepreneurship is progressing and so, the county is.

“Women now know that they need to be economically empowered. Many women who are married want to earn and fulfill their dream they have started with their own company,” Ahmad said.

“For me becoming an entrepreneur is tough but not impossible. I was an exporter, I had to travel abroad. But selling bus and trucks in early 80's by a woman created huge curiosity, doubts among many that whether I am able to do,” said Ahmad, who is also a vice-chairman of the Nitol-Niloy Group.

Ahmad, also the HR head of the group, manages 5,000 employees of the group.

She suggested the women entrepreneurs to be more professional. In the business world one should have ideas, market study, innovation and hard working capacities.

Her future plan is to establish paper mill, special economic zones, agro industries in Africa and some new ventures.

Sabrina Islam, chief executive officer of Reflections, a leading producer of decorative and architectural art glass, said breaking all barriers, a dynamic class of women entrepreneurs has emerged in the country especially in the small and medium sector.

“They have taken on the challenge to work in a male-dominated, competitive and complex economic and business environment. More and more women are joining the world of business, establishing small and medium scale enterprises.”

Women now constitute more than 10 percent of business entrepreneurs in Bangladesh and as such they are contributing to business and export growth, employment generation, productivity and skill development, she said.

Kaniz Almas Khan, managing director of Persona, suggested the women entrepreneurs to be “self confident” and “patient”.