Education and financial support are critical to whether or not women become entrepreneurs in Bangladesh, according to research in the International Journal of Business and Emerging Markets. The same study, which surveyed more than 350 female entrepreneurs, also suggests that government, social support, and national culture do not substantially influence a woman’s decision to pursue entrepreneurship.
Md. Shahadat Hossain of the Universiti Putra Malaysia, Weng Marc Lim of Sunway University both in Selangor, Malaysia, and Md Asadul Islam of BRAC University in Dhaka, Bangladesh, discuss how the global rise of female entrepreneurship is an important trend. It has been driven by technological advancements that have democratized access to business opportunities. Digital platforms have made it easier and safer for women to engage in entrepreneurial activities, facilitating online sales and other business operations. This is particularly apparent in developing nations. However, despite the progress, women entrepreneurs continue to face significant challenges associated with caregiving responsibilities, a lack of family support, and barriers across society.
The team suggests that understanding the motivations of female entrepreneurs is important to improving access to business and support. It will help in increasing the number of women entering the entrepreneurial space, provide support for those already engaged in entrepreneurial activities, and boost the potential of female entrepreneurship.
Education equips women with the knowledge and skills for starting and running their own businesses. An improved understanding of the impact of education can help fill knowledge gaps and guide both educators and policymakers. Financial support, which includes access to funding for business start-up and growth, is also a critical factor in whether women choose to start a business. There is perhaps now a need for better financial interventions to foster female entrepreneurship.
The researchers suggest that the work could have far-reaching implications, particularly in developing nations and in collectivist societies, such as Bangladesh, where traditional support mechanisms may be less effective. There is a need to empower women through education and financial resources more effectively and to move away from relying on somewhat lacking government support structures as well as surmounting social barriers.
Hossain, M.S., Lim, W.M. and Islam, M.A. (2024) ‘Women entrepreneurship: the role of education, national culture, and various supports’, Int. J. Business and Emerging Markets, Vol. 16, No. 3, pp.429–452.