local-business
Some Inspiring Women Entrepreneurs in Bangladesh in Diverse Sectors
Whether it is the social structure or lack of proper importance to female empowerment, women in Bangladesh were always on the back foot when it came to education, job or business. This has been the case for centuries without much change. However, the scenario is changing. Due to widespread incentives and facilitations women, today are now getting access to proper education. The government of Bangladesh is also championing gender balance in the workplace. Defying all the odds set against women, there are a few who stood against the patriarchy and established themselves as successful women. Let's take a look at some of the admired women entrepreneurs of Bangladesh and what made them what they are today.
Some Successful Bangladeshi Women Entrepreneurs
Bibi Russel
The contribution of Bibi Russell to the fashion industry of Bangladesh is undeniable. One of the pioneering figures in the fashion and ethnic culture of Bangladesh, Bibi Russell was born in 1950 and completed her higher education at London College of Fashion. She organized several fashion shows in Paris and Spain and has been the face of many leading fashion brands of the world in the late 70s.
Bibi Russell came back to Bangladesh in the late 90s and has since started her entrepreneurial venture, the Bibi Russell Production House. The distinct design element of her line incorporation elements of Bengali and Ethnic culture gave her products a unique position in the Bengali fashion landscape. Today her fashion house employs over 35000 rural artisans. Bibi Russell is a glaring example for the women who want to venture into the world of fashion designing.
Read: Graphic Designer Salaries: How Much Can You Earn from Graphic Design?
Ivy Haque Russell
There is an acute lack of female health-related service in Bangladesh. Ivy Haque Russell, a former investment banker felt there should be changes to the current state and hence founded the Maya Limited in 2017.
Maya limited is an online platform that provides females with all types of services and help. Initially, Ivy Haque started working with the healthy development of pregnant women. The idea was to enlighten them on self-care and seeking medical counsel when necessary. With its success, Maya has ventured into other health services as well as legal aides. Anyone can check their app or website to access information as well as seek legal help by keeping their identity hidden. The contribution of Maya has added to the stride of women empowerment in Bangladesh and it's a commendable step towards the right direction.
Read Best Credit Cards in Bangladesh: A Comparative Analysis
Rubaba Dowla
Rubaba Dowla is an exemplary figure in the corporate world of Bangladesh. Graduating from Stockholm University in Economics, she entered into the corporate world in 1998 as a marketing executive in Grameenphone. In a career expanding over 23 years, Rubaba Dowla has redefined what it means to strive for excellence and that women are no less compared to men in the corporate world.
Rubaba is the founder of Pulse Healthcare Service and has also been acting as the country manager of Oracle. Her startup aims to ensure healthcare service for all through their medical center as well as an online platform. The organization has gained popularity under the able leadership of Rubaba.
Read: Online Business: How to Get Started from Home?
Taslima Miji
In the social fabric of Bangladesh which somehow shares a negative impression towards female entrepreneurship, the successful and striving female entrepreneurs are breaking the long-held stereotypes. And among them, the story of Taslima Miji is even more inspiring.
Taslima Miji is the founder of Techmania. A company that provides computer-related hardware solutions for organizations. From repairing to assembling, the range of service offered by Techmania is diverse.
Taslima Miji completed her higher studies at the University of Dhaka. Although hailing from a family of businessmen, she decided not to get into the family business line. Rather Miji started her entrepreneurial venture with tech, completely unrelated to her family business line. Over time, Miji was able to establish Techmania as a leading tech solution for a range of organizations and corporations.
Read Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic
Selima Ahmed
The path towards female entrepreneurship is still growing. Though it is yet to be on par with male entrepreneurship, the development that has been done to this point in this sector for women can be largely attributed to the Bangladesh Women Chamber of Commerce and Industry or BWCCI. Selima Ahmed is the founder of BWCCI. In her long and illustrious career of entrepreneurship in the private sector.
In her early days of entrepreneurship, Selima Ahmed understood that the situation was not favorable for women entrepreneurs at all. Through her struggle to establish her ventures, she also focused to make the situation better for others. Over the years, BWCCI has helped countless women to kickstart their entrepreneurial ventures and provide any form of support necessary. For her service to the industry, Selima Ahmed was awarded the Islamic Development Bank prize in 2012.
Read Top Insurance Companies in Bangladesh in 2021
Sabrina Islam
Just like Selima Ahmed, Sabrina Islam is also a shining example of women empowerment in Bangladesh. After completing her education in law from the University of Dhaka, Sabrina Islam decided to start her own business in the mid-70s. it was during a time where women's entrepreneurship was practically unheard of. Sabrina Islam faced many challenges to establish her ventures and simultaneously felt the need for mentorship to the aspiring female entrepreneurs.
Over four decades, Sabrina Islam paved the way for many female entrepreneurs and as an acknowledgment of her service, she received the Daily Star award for Most Outstanding Woman in Business in 2008. Currently, she is heading the Women's Entrepreneurship Association and acting as a managing director of a leading garments factory.
Read: Ways of Affiliate Marketing while Staying in Bangladesh
Salina Qadar
Salina Qadar is another pioneering figure in female entrepreneurship in Bangladesh. she started her first venture, Agriconcern back in 1985. This was a time when Bangladesh was having a tumultuous political situation and it was harming the agricultural sector. She observed that there was practically no form of incentivization of export of potato, even though it grows in abundance in Bangladesh.
Over the next decade, Salina Qadar facilitated the export of over 12000 metric tons of potato. For her achievement and service in the agricultural sector, she was recognized for her work by the Daily Star in 2004.
Bottom Line
The state of women's entrepreneurship in Bangladesh is still growing. In addition to government incentives, various private firms are also providing support for up-and-coming aspiring entrepreneurs. The accomplished female entrepreneurs can act as an inspiration for many. They stand to prove that no matter what the odds maybe if you have conviction, you will succeed.
Read Legendary Women in Bangladesh with Pioneering Contribution in Diverse Fields
Dekko ISHO Group joins hands with Markopolo.ai to contribute to IT industry growth
Dekko ISHO Group, a diverse business entity, has invested in Markopolo.ai as an institutional investor in their pre-seed round to contributing to the growth of the IT industry of Bangladesh.
The two groups have already signed an agreement, said a media release on Wednesday (May 19, 2021).
Prottoy Hossain, Director, of Dekko ISHO Group, along with the founders of Markopolo, Tasfia Tasbin, CEO, Rubaiyat Farhan, COO, and Zaman, CTO were present.
Read Upay to offer lowest ATM cash out charge
Markopolo.ai, a deep tech startup headquartered in Delaware, USA, provides businesses a cloud-based software which can put their digital advertising on autopilot.
Tasfia Tasbin, Co-founder and CEO, said, “It’s an end to end digital marketing solution mimicking what an agency can serve, being more data-driven, personalized and cost-efficient for businesses.”
Tasfia also said they are really excited to onboard Dekko ISHO Group as one of their investors.
Read Some Inspiring Women Entrepreneurs in Bangladesh in Diverse Sectors
"The investment will be spent in product growth and business development while the crux of it will go to market penetration in new regions.”
Prottoy Hossain, Director of Dekko ISHO, said they are excited to diversify their business portfolio while contributing to the disruptive growth of the IT industry of Bangladesh.
"We are looking forward to see where this partnership takes us”.
Read 'Sadaqa can be Islamic response to pandemic'
Markopolo.ai currently serves a variety of corporations, small businesses, and eCommerce business owners around the globe.
Rubaiyat, Co-founder and COO of Markopolo describes the user experience as “By simply filling out some information about their businesses.
Users can avail AI generated Marketing Strategy, Campaign Planning, Contents of that campaign, Scheduled Ad Campaign and Ad Optimization in platforms like Facebook, Instagram, Google and Youtube, said the media release.
Read Top Insurance Companies in Bangladesh in 2021
For Enterprises, they are working on advanced features like Facebook page and group based sentiment analysis, detailed competitor insights and attribution analysis.
Dekko ISHO Group’s trust in this futuristic venture is an indication that accomplished and veteran market leaders see the potential of AI in the field of marketing and the prospect it has in the country.
Read Top Bangladeshi Milk and Dairy Companies, Brands
Upay to offer lowest ATM cash out charge
Upay will offer its customers lowest cash charge for withdrawing money from ATM booths.
The charge will be Tk 8 for every Tk 1000 withdrawn, inclusive of tax and VAT.
Upay is the subsidiary of United Commercial Bank (UCB), providing mobile financial services.
Read Regulator shouldn't allow monopoly in MFS: Mustafa Jabbar
The upay customers will be able to withdraw money at more than 500 ATMs of UCB across the country by using their upay app that can be downloaded from the Google Playstore or the upay website.
Sydul Haque Khandaker, Managing Director of upay said, “Upay has already established its footprint in the MFS sector within a short time by offering the lowest fee for most of the MFS services including ATM cash withdrawal.”
Upay products include mobile transaction, utility bill payment, merchant payment, inward remittance, airtime recharge, and disbursement of salary and various government social safety net allowances.
Read BB issues guidelines for trust fund management in payment, settlement services
Besides, upay offers some unique services exclusively available for upay customers, including payment of traffic prosecution fines, Indian visa fee payment, and gas (prepaid) bill payment- all types of bill payments free of charge.
Built on state-of-the-art blockchain technology, the upay platform also ensures a greater sense of security and confidence to customers.
The MFS subsidiary of UCB launched its operation on March 17, 2021, covering all the districts and upazilas in Bangladesh.
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Pran Drinking Water gives food to the needy in Ramadan
Pran Drinking Water has extended food support to the needy across the country for sehri and iftar in Ramadan.
The food items included rice, dal, oil, sugar, lachcha semai and drinking water.
Read Iftar Items, Recipes for Ramadan in Bangladesh
Pran Drinking Water Senior Brand Manager Al Amin Shikder said: "Under the campaign 'Iftar Hok Shobar,' we distributed food items across different parts of the country including Dhaka, Jhenaidah, Dinajpur and Kurigram."
Tonmoy Das, head of marketing at Pran Drinking Water, said: "As part of our corporate social responsibility, we stepped forward to help the needy in the holy month of Ramadan by allocating a portion of our profit from selling Pran Drinking water."
Read Robi distributes Iftar among 25,000 underprivileged people
Ways of Affiliate Marketing while Staying in Bangladesh
The process of digitization in Bangladesh has made way for countless opportunities. People are not only having better access to information but it has also paved way for passive earnings. For instance, with some technical skills and marketing knowledge, anyone can become an affiliate marketer online and earn from it. The scope of affiliate marketing is so lucrative that successful marketer often takes it up as their full-time career option. So what are the methods of affiliate marketing while staying in Bangladesh? Let's find out.
Top Affiliate Marketing Programs for Bangladeshi Marketers in 2021
ShareAsale Affiliate Program
ShareAsale affiliates are one of the more well-known e-commerce sites out there. The company has been in operation for over 17 years now and they have always maintained a good reputation. With the diverse marketplace offering, ShareAsale can be the perfect place to start your affiliate marketing career.
The requirements for signing up with the ShareAsale affiliate program are pretty simple. All you need to have is a live well-established website with organic high traffic. A well-optimized website with faster loading speed also gets priority in their selection. Ensure these and you are good to go. The commission rate usually varies from one merchant to another.
However, ShareAsale will deduct 20% as the transaction fee from your affiliate earnings. You can get paid via physical cheques which are not very convenient considering you’re staying in Bangladesh. However, you can always opt for digital transactions through direct deposit or Payoneer.
Read Passive Income Ideas in Bangladesh in 2021
Solvid Affiliate Program
The company markets its affiliate program as the highest commission provider in affiliate marketing and that is true. You will get a flat 20% commission on any purchase. If it is a renewable service, you stand to earn as long as the customer renews from your link. The flat rate makes it extremely flexible to switch between niches and experiment with the product range.
Getting started with Solvid is also very easy. You simply need to provide some valid documentation to prove the ownership of your site and you are good to go. However, they do not have a digital payment method, so you only have the Payoneer to work with. Solvid is the perfect choice for you if your website attracts organic traffic from the UK. Overall, this is one of the better-paying affiliate programs that you can access from Bangladesh.
Read Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic
Amazon Associates
Amazon Associates is probably the largest and easiest affiliate program to get into. The payout isn’t as high as some of the other affiliate programs but the choice of products, as well as customer base, makes up for the low commission rate. You stand to earn a flat 10% from any purchase made through your link. Amazon even has some added benefits. If any visitor navigates to the Amazon eCommerce website through your affiliate link and buys any product that isn’t affiliated with you, you will still earn for directing the traffic.
Signing up as an amazon associate is also very easy. All you have to do is submit documents certifying the ownership of your website. You can expect to get confirmation within 3-4 working days. Unlike other affiliate programs, Amazon doesn’t require you to show organic high traffic to your site. As a result, this can be a perfect starting option for people who have a relatively new website and are looking to get into affiliate marketing.
Read What Is Passive Income? Pros and Cons of Passive Earning
eBay Partners
Based in San Jose, California, eBay is another well-known e-commerce platform across the globe. In addition to the usual buying and selling option, there is also an auction mechanism where products are sold to the highest bidder.
It is possible to sign up as an eBay partner from Bangladesh. The commission rates aren’t predefined, and it varies according to niche and product. Generally, you stand to earn somewhere around 20% to 50% commission.
In addition to that, eBay offers other income opportunities as well. If the winning bidder of any auction comes from your link, eBay will share a profit margin ranging from 20% to 70% with you. If your target audience is mostly from the US, you can consider signing up for eBay as it's much more flexible and lenient compared to other affiliate programs. And as an incentive, for the first three months, you get commissions at a doubled rate.
Read Zero Investment Business Ideas to Try Amidst the Pandemic
Shopify Affiliate Program
Shopify is one of the leading eCommerce solutions. The platform is very common and popular with online marketers as well as bloggers. Shopify has a referral program that you can partner up with as a blogger.
Unlike other affiliate programs, Shopify doesn’t require you to document traffic for approval. All you need to submit is the ownership document of your website. The commission rate is pretty good with Shopify and you can earn up to 200% bounty on your first month’s referral. As a blog owner, it becomes easy for you to get started as they run on a similar niche.
And affiliate earnings aside, this is a genuinely good product that you can recommend to people. However, the issue with Shopify is that it is a highly niche-based product. You will not be able to drive considerable traffic since people who don’t have anything to sell online will not be interested in it.
Read How To Be A Popular Instagram Influencer
Rakuten Marketing Affiliate
Rakuten is an award-winning e-commerce platform known for prioritizing their customer over anything. The platform has partnered with NBA before which is a testament to their influence and reach on the online market platform.
Just like eBay, the commission rate is not predefined and it varies from product to product. You can expect to earn between 20% to 50% commission depending on the niche of your product. However, there are some drawbacks with Rakuten. Here you have to apply to each marketer individually in the platform rather than get your affiliate certified by Rakuten for all products. This makes your job a bit tricky as you have to specifically research which seller aligns with your website niche and apply accordingly.
Read Tips and Tricks to Increase YouTube Subscribers organically
Bottom Line
Most of the leading affiliate programs offer partnerships to marketers from Bangladesh. However, that alone is like half the job is done. You still have to market the product from the platform in a lucrative manner to make sure they get directed from your link. With proper niche selection and product presentation, it is possible to become a successful affiliate marketer from Bangladesh in a short while.
Passive Income Ideas in Bangladesh in 2021
Imagine if you didn’t have to do anything and still made money. Sounds too good to be true right? Well, it's very much real, and you can earn money without regular effort through passive income. In the context of Bangladesh, there are quite a few passive earning opportunities. However, all ways may not be suitable for everyone. Some earning methods might require you to know certain technical skills to get started. In this article, we will discuss some of the best passive opportunities for Bangladeshis in 2021.
Active Sources of passive income in Bangladesh
Create Mobile Application
With over 47.5 million active internet users in the country, monetizing your internet skills can be a good source of passive income. One of the internet-based earning sources that don’t require active labor is making an application for any of the mobile operating platforms.
The limitation here is that you need to be well versed in programming and technical knowledge of app building. A good application can reach a wider demographic for you and that, in turn, can create a huge revenue stream. Maintenance and updating the application doesn’t require regular effort and you can easily add a significant amount through this income source.
Read Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic
Affiliate Marketing
Compared to other forms of online passive income, affiliate marketing will provide you with the highest revenue. Considering the pandemic where many people have lost job, this passive income source can even become a primary source for many.
If you have a website, you can start publishing reviews of products from Amazon or other leading e-commerce platforms. You will sign up as an affiliate marketer for these platforms and the more people redirects from your website, the more commission you will earn. If you are willing to put in the initial efforts, this can be a steady and stable passive income source.
Read: What Is Passive Income? Pros and Cons of Passive Earning
Niche Based Blogging
Blogging is one of the more common and widely used passive income sources not just in Bangladesh but across the globe as well. The technical skills to start a blog are nominal, and you can get started with a very little investment. You can focus on a specific niche and create blogs that will attract the customers of that specific niche.
However, this is not a shortcut way to make a passive income. It takes 6 months to a year of regular input for your blog to get significant traffic that will generate revenue for you. There is a requirement for regular content on your blog which is well optimized for the search engines to drive traffic. Once you have gained steady traction, it becomes an easy source of perpetual return.
Read How to Create a Personal Website on WordPress
Selling Your Skills
If you are an expert in a certain topic, you can create guideline e-books or video tutorials on that topic. The pandemic has ushered us more into digital learning and now is the best time to get started on online mentorship. You can sign up for your course at any of the leading skillshare platforms.
The initial effort here is to create the content for the course. After that, as more and more people sign up for your tutorial and content, you stand to generate more and more revenues. And the best part is that there is no limitation to it. You can continue to earn as long as people sign up and if the content is good, there will never be a shortage of clients.
Read Best Job Searching Websites in Bangladesh
Rental Opportunities
Perhaps the most common form of passive income around the world is rental income. There are all sorts of rental income opportunities ranging from property to products to vehicles. Renting property is something that is widely seen in Bangladesh. If you own a piece of land or real estate, you can lend or lease it to tenants and create a perpetual income source.
However, the issue with renting property is the significant capital investment. If you don’t already own or inherit property or if you are someone getting started with passive income, it is almost next to impossible to generate the capital required for property ownership. However, there are other rental opportunities of different types that require significantly less capital. This strategy of passive income is best suitable for people who already own a property or have the significant means for acquiring property.
Read Zero Investment Business Ideas to Try Amidst the Pandemic
Investing in Stock
Investing in the stock market is another common passive earning opportunity. It is possible to invest a sum of money in a stock and monitor the growth passively. Earnings will generate from the annual dividends. You can also opt to sell your share at any time as per your preference. You have complete control over your investment and if your invested share does well, you stand to make a good passive income out of it in no time.
However, investing in stock isn’t for everyone mainly due to the risk involved in the process. The stock market is highly volatile and if you are someone who’s getting started with the stock market, it becomes hard for you to assess the trend of the market to understand whether it's going to go up or down. Even the most seasoned investors can lose a hefty sum any given day. The risk factor combined with the initial capital investment requirements often deters people from getting started on the stock market.
Read How to Get Hired for Online Writing Jobs
Fixed Deposit in Bank
In contrast to the risk associated with the stock market investment, the fixed deposit or FD is a completely risk-free option for those looking to generate a passive income source. In Bangladesh, the minimum FD starts from BDT 10000 to BDT 50000 and there is no upward limit. Compared to the stocks, the return on FD is much lower, but it is an effective and truly passive income source.
Unlike the stocks, there is no risk factor involved and you get a perpetual return starting from 2.5% and going all the way up to 9.0 % depending on the bank. Fixed deposits can be a perfect choice for young professionals and students looking to make a risk-free investment with a perpetual passive income. You can opt for a Fixed deposit starting from 1 year to a maximum of 5 years. A higher year count will result in increased return.
Read Quarantine Income Opportunities: How to Earn Money during Lockdown Period?
Final Thoughts
To be honest, nothing comes free and even passive income requires some form of intellectual or capital investment. Some are easier compared to others and some even hold risk over your investment. But in general, initiating a passive income source will give you more monetary independence which is always welcomed. The most important thing is to choose the way that can really work for you. Depending on your means, you can choose any of these if you are in Bangladesh and sooner or later you will start seeing returns.
Read Work from Home, Earn and Be Your Own Boss
Islami Bank Capital Management holds AGM
11th annual general meeting (AGM) of Islami Bank Capital Management Limited (IBCML) was held Tuesday on a virtual platform.
The meeting unanimously approved the financial statements of IBCML for the year ended 31 December 2020.
Also read: Islami Bank Cumilla, Sylhet, Mymensingh hold business development conference
Professor Md Kamal Uddin, director of Islami Bank Bangladesh Limited (IBBL) and chair of the board of directors of IBCML, presided over the meeting.
The AGM was attended by Md Joynal Abedin, director of Islami Bank and IBCML, Muhammad Qaisar Ali and Md Omar Faruk Khan, additional managing directors of IBBL and directors of IBCML, Md Ashraful Haque, CFO of IBBL and director of IBCML.
Also read: Islami Bank Dhaka Central, corporate branches hold business conference
Md Mosharraf Hossain, deputy managing director of IBBL, Md Saleh Iqbal, RDS and UPDS Project in-charge of IBBL, Md Altaf Hossain, senior executive vice president of IBBL, Mohammad Abdur Rahim, managing director and CEO of IBCML, and Abu Syed Md Nahid, the company secretary of IBCML, also joined the meeting.
bKash offers up to 40% instant cashback on Eid shopping, iftar, grocery payment
Customers will enjoy 5 to 40 percent instant cashback on bKash payment at around 4,500 shopping outlets across the country on the occasion of Ramadan and the upcoming Eid-ul-Fitr till May 15.
A customer can avail maximum Tk 300 in a day and maximum Tk 500 during the whole campaign as cashback, said a media release on Wednesday.
In addition, cashback on Iftar and grocery payment at various outlets are also available.
Also Read: bKash offers 1 pc cash bonus on receiving remittance
Customers can get the offer through bKash app, USSD code *247# or payment gateway.
Customers can avail this offer by making bKash payment for purchasing various lifestyle products and services such as: accessories, clothing, e-commerce, footwear, electronics, superstore items, healthcare, restaurant/cafe, and many more. This offer includes Aarong, Anjan’s, Kay Kraft, Banglar Mela, Bibiana, Deshal, Le Reve, Rong, Sadakalo, Sailor, Nogordola, Bata, Zeil’s, Lotto, Orange, SaRa, LG Butterfly, Minister, Transcom, Singer, Sony Rangs, Kiva Han, Cafe Euphoria, BAO, Nawab Chatga, Baoxi Kafei, Salam's Kitchen, Khazana Sweets, Peyala, Bangla Shoppers, Boi Bichitra, Al Amin Jewellers, Baby Shop, Gentle Park, Foot Gear, Crescent, etc. and many other renowned shopping outlets.
Read OPPO presents trove of gifts, offers for Eid
In addition, bKash customers can enjoy Buy 1 Get 1 offer at After Hours Hotel and Resorts, Platinum Grand, Platinum Residence, Hansa- A Premium Residence, Best Western Plus Maya, Dhaka Regency, Best western Plus Maple Leaf, Asia Hotel and Resorts, Shinepukur Suites and The Way Dhaka.
However, customers can avail Buy 1 Get 3 offer on bKash payment at Long Beach Suites Dhaka.
Read iPhone Eid mega deal in G&G
The offer will be valid till 14th May, 2021 and available through bKash APP & USSD code *247#.
bKash is also offering up to 40% discount on various Iftar deals at Hotel Radisson, Hotel Sarina, Grace 21, Paragon Convention Hall, Munchery, Beans & Grills, Hotel Noorjahan Grand, Hotel Fountain and Adi Ashta Banjan Restaurant to make Iftar more enjoyable during this month of Ramadan.
The offer will be valid till May 15, 2021.
Also Read: Up to 500 Tk Cashback on card to bKash 'Add Money'
In order to make payment through bKash app, customer has to type the merchant number by tapping on the 'Make Payment' icon on the home screen or by going to the merchant point and scanning the QR code directly.
Customers can easily go to the 'Offers' section of the bKash app as well and check the ongoing offers around them.
Read Samsung brings unique offers ahead of Eid-ul-Fitr
Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic
As Bangladesh tackles the Covid-19 situation, the impact left behind by the pandemic has been quite significant. Not just in terms of loss of lives but economic downtrend as well. Many people lost jobs and many businesses saw themselves on the brink of shut down. However, many businesses are opting to shift their offerings to what’s known as Facebook Commerce or F-commerce. With 22% of the population of Bangladesh being active users of Facebook, the platform can provide a strong foothold to reach customers on a far wider and diverse scale. In this article, we will take a look at some of the best small business ideas for F-commerce in Bangladesh during a pandemic.
Small business ideas for F-commerce in Bangladesh
Clothing Line
With a country of festivities, we sure do have a knack for clothing. That is reflected in the apparel market as the market cap stands at around BDT 250 billion. There is a huge opportunity of taking this apparel market to the online platform.
As a startup, you can source apparel locally from wholesale dealers and create an apparel niche of your own. With the Flexibility of F-commerce, it becomes very easy to reach your target customer base. You can even jump-start your business with little to no capital. You can start by having a small exclusive line of collection or simply set up a system of pre-order. That will ensure that there isn’t any loss to your startup venture.
Also Read A Bangladesh startup that aims at saving the world!
Book Store
Nothing like a good book in days of lockdown, right? There is a high number of book readers in Bangladesh. The numbers add up as the Amar Ekushey Boi Mela saw a 70 crore BDT jump in sales from 2013-2018. With a growing demand for books, selling them on an online platform can be a good startup venture. The goal here is to find the targeted customer base and set up your business to attract them.
Just like the apparel line, you can list your collections or simply deliver on a pre-order basis. Nilkhet being one of the largest markets of all sorts of books, sourcing shouldn’t be an issue and you can make a profit straight away with very little investment.
Read How to Earn Money from Facebook
Consumer Electronics
The consumer electronic market is another potential sector for F-commerce startups. In 2017, the total market cap on consumer electronics stood at 1.38 billion BDT. However, as a startup, it's not possible to sell large-scale consumer electronics because of regulation and investment.
You can start with smart gadgets and portable electronic items. The pandemic has seen people shift to online platforms for their gadget fix. You can either start by offering a certain product category or you can add multiples depending on your investment scale. The most important thing here is to plan. You should have a definitive F-commerce marketing strategy to attract customers. And since this is a consumer electronic sector, there should be ample focus on the after-sales service as well to ensure customer retention.
Read 24pc of female online entrepreneurs shut businesses in June: Study
Home-Based Catering
There is a huge untapped opportunity in the home-based catering service in our country. With the easy parcel delivery services in Bangladesh, it is now possible for the home cooks to deliver on-demand food items concurrent to the restaurants. A home-cooked meal is not only a healthier choice for many but also a comparatively cheaper alternative to restaurants and takeaways.
Just like the other F-commerce ventures we have mentioned in this article, the capital investment in home-based catering is little to nothing.
The variety of cuisines on demand is what makes this start-up idea a thriving one. Based on expertise, a home cook can significantly monetize their skills and convert them into a functional earning source. And with the pandemic in question, the demand is also at an all-time high.
Also Read: What Is Passive Income? Pros and Cons of Passive Earning
Online Grocery Store
An online grocery store is another business idea that has been propelled to the forefront in light of the pandemic and ensuing lockdowns. The idea of having all the daily necessities right at your fingertip is lucrative for many. This not only reduces the hassle but also ensures that you won't have to risk your safety by visiting crowded places. As a small business, focus can be put on a certain niche of groceries. It can be cooking essentials, dairy items to frozen goods. This solely depends on the target market.
It is possible to source goods from wholesalers depending on the niche. As long as you can ensure competitive pricing, the F-commerce platform can be the perfect place to kickstart your venture.
Read Zero Investment Business Ideas to Try Amidst the Pandemic
Cosmetic Line
Beauty products have a considerable market cap in Bangladesh. In addition to local brands, there is a high demand for the international cosmetic brands and their products. A cosmetic line can be a good small business idea because the online market is still in its budding state. People are getting more and more used to buying goods from online stores as the pandemic has reshaped the idea of how we shop.
Depending on your niche, you can source products from the local market or use importers to source products from an international brand. Needless to say, the latter would require a significantly larger investment. But the ROI of this venture is high and considering there is no sunk cost involved, you stand to make a profit in a considerably short time.
Art & Craft
Recent trends show that the millennials of Bangladesh are significantly interested in local arts and crafts. It can be attributed to the widespread cultural promotion and in the general interest of the mass. If you are someone who is an artist, you can sell your work on the F-commerce platform.
Not just art itself, there is a huge of demand for local craft utensils. Whether it's for home decoration or part of utility needs, as a business, you can produce or source these local crafts for online clients.
Also Read: Domestic electronics, technology products should get priority in govt procurement: Speakers
Sell Your Expertise
If you are an expert in your trade, you can set up your online consulting firm. There are endless niches where there is a demand for expert consultation on different subjects. The same stands true for skills as well. If you are good with graphics designing or web content development, you can sell your expertise on the F-commerce platform depending on your niche. This doesn’t require any investment to begin with and also makes communicating with the clients easier.
Bottom Line
There is a huge untapped opportunity when it comes to the startups in the F-commerce sector of Bangladesh. The pandemic has paved a way for many new Facebook-based business ideas in the existing niche as well as creating demand for new ones. Sure enough, you won't see success upfront, and you would need to develop a sizeable community around your product. But the efforts and investment are much more risk-free when it comes to F-commerce and has a high ROI.
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Walton bringing electric bikes
Local electronic giant Walton is going to introduce electric bikes or scooters to the market soon.
The e-bikes will run up to 60 kilometres on a single charge and running each km will cost only 10-15 paisa.
Walton will initially launch two models of e-bikes -- TAKYON 1.00 and TAKYON 1.20. The prices of the bikes have not been fixed yet.
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Kaikobad Siddiquie, product manager of TAKYON Electric Bike, said TAKYON 1.00 e-bike has a powerful 1.2 kw hub motor where graphene lead acid battery has been used. Once fully charged, this bike can run 60-70km at a maximum speed of 50km per hour.
TAKYON 1.20 features a powerful motor of BOSCH while its portable lithium battery weighs only 9kg. It can cover a distance of 50-60km on a single charge with a maximum speed of 45km/h.
The e-bikes have a portable charger that can be charged from the 220 volt power line used in residence.
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Walton says the performance of the bikes is equivalent to a conventional 100cc bike. Dual hydraulic disc brakes, tubeless tires, LCD speedometer and LED lighting have been used in Walton e-bikes.
Bikes are becoming popular among young people but most of them cannot afford to buy conventional petrol bikes and use them regularly due to high cost. Walton aims to deliver motor vehicles to the customers at low cost.
Charging a Walton e-bike will cost only Tk 7-8.
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Walton Digi-Tech Industries Limited Chairman SM Rezaul Alam said, “Electric vehicles have not yet gained popularity in Bangladesh. However, the popularity of electric vehicles is higher in developed countries. We want to make local customers accustomed to electric vehicles through TAKYON. We’ve plans to set up fast-charging stations across the country so that e-bike users can travel anywhere in the country without any hassle.”
Deputy Managing Director of Walton Digi-Tech Industries Limited Engineer Liakat Ali said, “We’re trying to build a green universe. To create awareness among consumers on e-waste, we conducted a laptop-desktop exchange campaign which has been well accepted. The E-bike project is another of our initiatives to that endeavour.“
Customers of TAKYON e-bikes will get free after-sales service for up to 2 years from Walton’s designated service points.
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