HSBC will launch the ‘Female Entrepreneur Fund (FEF)’ in Bangladesh on Thursday in acknowledgment of the challenges that female-owned businesses face. Female Entrepreneur Fund (FEF) will be launched as part of HSBC’s global commitment to supporting female entrepreneurs. The aim of the programme is to promote financial inclusivity for women entrepreneurs in Bangladesh through the FEF initiative by supporting: financial literacy, networking, and financing, said HSBC, one of the world’s largest banking and financial services organisations. Read HSBC Bangladesh gets 1st female head of retail banking Of HSBC’s clientele base - female led corporates, NGOs that help and promote female entrepreneurship, female led startups and some selected non-customer groups and individuals will be eligible to participate in the programme. Participants will benefit from access to HSBC’s extensive local and global networks, opportunity to learn and share knowledge among a cohort of female entrepreneurs, workshops and master classes designed for specific needs. Kevin Green, Country Head of Wholesale Banking, HSBC Bangladesh said finance has a pivotal role to play as a catalyst for change. Read HSBC, IBA award young talents of Bangladesh with future skills “Through programmes such as the Female Entrepreneur Fund, we are taking strides to bring financial independence and inclusivity to the communities that we operate in. This initiative will help us to connect our customers and communities with opportunities for growth”. After a successful launch in 11 markets, Bangladesh joins a number of markets in Asia to the coverage of the programme.

Gone are days when women were confined to traditional household duties and selected professions. Recently a large number of female entrepreneurs has been rising noticeably from different corners around the world. Women have been showing their expertise as entrepreneurs in almost every industry. Here we have focused on the 10 most successful women entrepreneurs of the 21 century who have made a notable fingerprint in recent decades.  10 Pioneering Women Entrepreneurships of 21st century Zhang Xin  (24 August 1965-present), Age: 56 years, China Zhang Xin is a Chinese billionaire businesswoman. She was the co-founder of SOHO China, a real estate development firm in China that became public in 2007. Although she was a factory worker once, eventually she became the owner of dozens of real estate developments in Beijing and Shanghai. Xin achieved huge success in China both as an architectural patron as well as an entrepreneur.  In 2002, she won a special prize at the 8th la Biennale di Venezia for Commune by the Great Wall. In 2014, Forbes declared Zhang as the 62nd most powerful woman in the world. She is also known as one of the top businesswomen in the world regularly. Forbes also ranked Zhang and her husband among the "world's most powerful couples." According to Forbes her net worth was around $3.3 Billion USD in May 2021. Read 10 Greatest Female Scientists of All Time Gina Rinehart (9 February 1954-present), Age 67 years, Perth, Australia Gina Hope Hancock is an Australian billionaire businesswoman. She is the chairman of Hancock Prospecting, a privately-owned mineral exploration, and extraction company. Although the company was founded by her father Lang Hancock, she headed her late father’s bankrupted estate and reinvented it into something bigger.  In 2019, her net worth of USD 14.8 billion makes her the wealthiest person in Australia and the 75th billionaire in the world. She is also the 36th powerful woman as per Forbes 2019.  Sofia Vergara  (10 July 1972-Present), Age: 49 years, United States Sofia, a Colombian and American actress, and model was the highest-paid actress in American television from 2013 to 2020. Besides, she is a successful female entrepreneur. She is the co-founder of Latin World Entertainment which is a talent management, and entertainment-marketing firm. She became the highest-paid Hollywood actress in 2020. She has been a judge on America's Got Talent since 2020.  Read Lata Mangeshkar: India's Legendary Singing Diva Kiran Mazumdar-Shaw  (23 March 1953-Present), Age: 68 years, India,  Kiran Mazumdar-Shaw, an Indian billionaire entrepreneur is the founder of Biocon, an Indian biopharma company. Biocon is a global company and it became public in 2004. It won the 2nd position among  Indian companies which reached $1 billion on its first trading day. She won the Othmer Gold Medal for outstanding contributions to the development of science and chemistry.  She is the 68th most powerful woman in the world listed by Forbes. According to Forbes, her net worth was around 3.7 billion USD in December, 2021.   Arianna Huffington (July 15, 1950 -Present), Age 71 years, Athens, Greece  Arianna Huffington, a Greek-American author, and businesswoman was the co-founder of The Huffington Post. She is also known as the founder and CEO of Thrive Global. Moreover, she is the author of fifteen books. Her name has been listed in Time magazine as one of the 100 most influential people and in Forbes as one of the most powerful women. Read Legendary Women in Bangladesh with Pioneering Contribution in Diverse Fields Sara Blakely (February 27, 1971-Present), Age: 51 years, United States  Sara Blakely, an American businesswoman, is the founder and owner of Spanx. Spanx sells leggings,  undergarments of both women and men, and other things in more than 65 countries.  She is the 23rd American Self-made Woman listed by Forbes and the 1941st billionaire in the world. In 2016, she got the title of 90th powerful woman. According to Forbes, her net worth was around 1.2 billion USD in December, 2021. Debbi Fields (September 18, 1956-Present), Age: 65 years, Oakland, California, U.S.  Debbi Fields is the founder of Mrs. Fields Bakeries. She founded Mrs. Fields Bakeries in 1977. It is now one of the largest retailers of fresh cookies in the USA. She expanded her business to 11 different countries since its founding. It has about 650 bakeries in the United States and 80 others in countries around the world. Moreover, she is the author of several cookbooks and she herself makes cookies.  Read OWSD-Elsevier Foundation Award: Bangladesh's Gawsia among top women climate scientists Wang Laichun (1966/1967-Present)  Age: 54–55years, China Wang Laichun is a Chinese billionaire,  and co-founder of the electronics manufacturer Luxshare Precision Industry Co., Ltd. Founded in 2004 in Dongguan, China, the Company designs and manufactures computer cables which is also a key assembler of AirPods for Apple.  In 2019, Wang Laichun ranked as the 71st richest person in China and 1168th richest person in the world. The Daily Telegraph declared that she became one of the world's youngest self-made women billionaires just at the age of 46. In 2021, she was the second-richest woman in China according to China Daily. According to Forbes, her net worth is around 10.1 billion USD in 2022. Susan Wojcicki  (July 5, 1968- Present), Age: 53 years, American Susan Wojcicki, a Polish-American business executive, is the CEO of YouTube. Forbes claimed that Susan supported the 1.65 Billion dollars proclamation of YouTube in 2006. At present, the company’s net worth is about 90 Billion Dollars. According to Forbes, she was the 12th most powerful woman in the world and 44th America's Self-made Woman in 2019. Read Shammi Quddus: A Talented Bangladeshi Woman in Google, Global Fintech Industry Sheryl Sandberg (August 28, 1969-Present), Age 52 years, Washington, D.C., United States Sheryl Sandberg, an American business executive, billionaire, and philanthropist. She is the COO of Facebook currently.  Time Magazine showed her as one of the top 100 most influential people in the world in 2012. She is also known as one of the most successful and famous female entrepreneurs in the world. According to Forbes, her net worth is around 1.8 billion USD in 2021. Conclusion So far, we have discussed 10 leading business women of the twenty-first century. These thriving women entrepreneurs have gained success through withstanding economic and business pressures. Many amazing success stories are to be heard from some of these wonderful women. We hope this article will encourage many more young girls and talented women to be entrepreneurs. Read Dr Firdausi Qadri: Ramon Magsaysay 2021 Award Winner Bangladeshi Scientist

Bangladesh is an emerging economy of the world. However, it's still lagging in inducing entrepreneurial ventures on a local level. The situation is even direr for women. A study conducted by Mastercard Index ranks Bangladesh as one of the toughest places for females to emerge as entrepreneurs.  However, the situation is slowly changing. Most of the leading banks including the government ones are introducing women loan schemes for personal as well entrepreneurial needs. In this article, let's look into the details of the leading banks offering loans for women in Bangladesh.  Factors to consider before taking a women loan  A women’s loan doesn’t divert much from the traditional loan schemes. As a result, the general factors to be considered before taking a loan also apply in this regard. Here are some of the important aspects to be kept in mind.  Read: 'Women entrepreneurs get less than 4% of MSME loans' Credit Score  The credit score determines the credibility of the borrower. It’s a point system to determine how good a borrower is at giving back the borrowed money. Naturally, this becomes a determining factor for most banks before sanctioning loans.  Most banks do not disclose the actual minimum credit score to be eligible for a loan. Even though the minimum score isn’t disclosed, it should generally be between 700 to 800.  Value of collateral  Collateral is the agreed asset to be paid to the bank in case the borrower fails to repay the loan. The amount of the loan depends on the value of the collateral asset. However, these are only applicable for secured loans.  Unsecured loans don’t require any collateral asset disclosure. But they come with higher interest compared to the secured loans.  Read Student Loans in Bangladesh: Banks Offering Education Loans for Higher Studies Liquid asset  Borrowers with a considerable liquidity asset hold priority when it comes to loan sanctions. There are always chances of temporary setbacks when it comes to repayment. Having some form of a liquid asset will help to keep the repayment rolling.  Loan Duration  The duration of the loan will impact the overall interest paid against it. Banks often feel comfortable lending for a shorter period. It's also a better choice for the borrower as well since the interest against it will be less.  It's better to avoid long-term loan commitments because even if the borrower wants to close early, banks charge an early settlement fee against the loan.  Read: Covid: A catalyst for women entrepreneurship in Bangladesh! Best Banks for women loans in Bangladesh EBL Women’s Loan  EBL Women’s loan is a tailored unsecured EMI-based loan specially designed for professional women. The loan amount ranges from 1 Lac BDT to up to 20 Lac BDT. A borrower must be at least 22 years old to be eligible for this loan.  The salary requirement varies across professions for this loan from a minimum of 15,000 BDT to 30,000 BDT. The loan can be availed with a tenure of 12, 24, 36, 48, or 60 months, whichever works better for the borrower. EBL has a standard loan processing fee of 1% and relevant early settlement fees will also apply.  DBBL Women Entrepreneurs Financing DBBL Women Entrepreneurs Financing is for women looking to venture into entrepreneurship. As a result, this loan scheme offers several facilities which make it one of the best choices out there.  The maximum loan amount is 50 Lac BDT which is designated keeping the small and medium enterprise entrepreneurship in mind. The loan is applicable for women undertaking cottage, small or medium scale businesses. To facilitate the process, DBBL doesn’t charge any processing fee for this loan. The interest rate is fixed at 9%. The loan can be tenured for any duration between 12 to 60 months.  Read Motorcycle Loans in Bangladesh: Turning Your Two-wheeler Dream into Reality IFIC - Prantonari (Women Entrepreneurs Loan) The Prantonari scheme by IFIC bank is designed for women from the grassroots level. The scheme is part of the initiative to empower rural women to increase the life and livelihood of the people.  This is a term loan that can be borrowed as both secured and unsecured loans. The limit for an unsecured loan is up to 5 Lac BDT and for a secured one, it goes all the way up to 20 Lac BDT. However, the loan has a higher minimum repayment period of 24 months. The term goes all the way up to 36 months at a 9% rate. There is no scope for early settlement with this loan scheme. To be eligible for this loan, a borrower needs to have at least 2 years of experience in the relevant business field in addition to belonging to the grassroots level. The bank requires that the business should generate a sufficient return to ensure loan repayment.  Read Economy faces challeges of revenue shortfall and defaulting bank loans: Document MTB Women Entrepreneur  When it comes to the private sector, MTB is one of the leading banks of Bangladesh. The bank has made its mark through competitive service and ease of banking. The MTB women entrepreneur loan scheme is part of their entrepreneurial lending venture aiming to facilitate entrepreneurs with a need for capital.  One of the schemes under this venture is the MTB Bhagyaboti loan. The range of sum is between 1 Lac BDT to 25 Lac BDT which is one of the highest in Bangladesh. The maximum repayment duration is 36 months. The standard 9% interest also applies to this loan. A useful feature of this loan is that this is an unsecured loan so no collateral is necessary. In addition to that, the bank also doesn’t require any guarantor to be eligible. However, the borrower needs to have at least 1 year of experience in the relevant business field.  Read Relaxation of GTF loan conditions to help private sector exporters: BUILD Shakti (Women Entrepreneur) by Union Capital Limited  This woman entrepreneurial loan by Union Capital is geared for an already established business looking for capital to expand or scale up its business. As a result, the loan gets disbursed to the company rather than the individual owner. However, the owner still needs to be a woman to be applicable for this loan.  The upper limit of the loan is at 50 Lac BDT. The loan is geared toward SMEs. However, the borrower can access up to 25 Lac BDT without any collateral. There’s also provision for prioritized service and grace period. The individual details of the loan will vary from business to business and loan amount. A borrower should directly contact the loan department of Union Capital for further details.  Read Legendary Women in Bangladesh with Pioneering Contribution in Diverse Fields MDB Nari Uddog  The MDB Nari Uddog by Midland Bank is similar to the women's entrepreneurial loan offered by DBBL. It's applicable for women who are running a business under the cottage, small or medium enterprise as defined by Bangladesh Bank.  The bank is offering loans of up to 5 crore BDT for eligible businesses. However, it comes with its own set of collateral requirements. The business should be at least 2 years old with a viable market strategy to be eligible for this loan. Just like Union Capital, the loan is classified as a business and can only be availed by established businesses. There are also refinancing opportunities as outlined by the Bangladesh Bank. The borrower will have to visit their nearest Midland Bank branch to get more information. Read Best Car Loans in Bangladesh to Grab Your Dream Car Shikha Loan by LankaBangla Finance  LankaBangla Finance is one of the premier financial institutions of Bangladesh that run on joint ownership. The organization has a line of loans under its Shikha scheme. Most of them are geared toward women's empowerment through entrepreneurship.  The ‘Anonnya loan scheme’ is designed for women who have already ventured into entrepreneurship or are looking to get into it. The upper limit of the loan is set at 50 Lac BDT. A borrower can avail up to 25 Lac BDT without any form of collateral. The time duration for the repayment is 60 months. The financial institute is also offering EMI on the repayment which makes it even easier for businesses to undertake the loan. There is no need for a guarantor and the organization offers priority service during and after loan allocation.  Read Best Home Loans in Bangladesh to Build Your Dream Nest Purnota by IDLC IDLC Finance is also one of the leading financial institutions of Bangladesh. The organization has a range of loan options for borrowers of every need. Their Purnota scheme is part of the SME loan for women entrepreneurs.  The loan ranges from 2 Lac BDT to 35 Lac BDT. There is no need for any collateral even for the upper limit. The institute also allows flexible repayment based on the revenue generation by the business.  In addition to refinancing opportunities under Bangladesh Bank, Purnota has one of the most competitive interest rates among SME loans. You can avail of this loan with 2 years of business operating record and proof of revenue generation.  Final Thoughts  That concludes the list of the best banks offering entrepreneurial loans for women in Bangladesh. Though there are other banks as well and each has its unique schemes, these banks and financial institutions stand out because of their service and features. Before getting into one, it's important to read all the loan-related disclosures carefully or better yet, talk with a representative to actually determine the worth and feasibility of the loan.  Read Govt mulls a watchdog for defaulting loans, financial stability: official document

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

 

The country's female entrepreneurs in the micro, small and medium enterprises (MSMEs) are getting less than 4% of the loan disbursed to the sector. 

Though the online sales of health products and daily essentials were booming due to COVID-19, the ongoing pandemic has taken its heavy toll on the online retailers of fashion, cosmetics, and other imported products, says a recent study.