Image credit: CEDAR
A capacity building training programme was launched yesterday to support women-owned small and medium enterprises (SMEs) do business with local and multinational corporations committed to expanding inclusive sourcing throughout their value chains.
Funded by World Bank's Women Entrepreneurs Finance Initiative (We-Fi)-Bangladesh, WEConnect International and North South University will implement this multi-pronged capacity building programme, says a press release.
In collaboration with SME Foundation Bangladesh, the project is developing a national supplier database to facilitate business connections.
Women have made tremendous strides in Bangladesh by stepping out of the home and participating in the economy in the last decade.
Yet out of the almost 8 million businesses in Bangladesh, 99.93 per cent of which are micro and SMEs, only a mere 7.2 per cent are women-owned and operated (ADB 2016).
With Bangladesh's GDP expected to grow by 6.8 per cent in 2021 and 7.2 per cent in 2022, enabling more women entrepreneurs to access market opportunities will accelerate economic growth despite the barriers that have grown more daunting during the pandemic.
"Economic participation and representation of women businesses in the corporate supply chain will not only benefit large companies through inclusive growth but will also enhance women entrepreneur's ability to provide quality services" said Hosna Ferdous Sumi, private sector specialist of Word Bank.
The programme will include a 20-hour advanced training program, a pitch training and finally support to establish linkages between women-led SMEs and buyers through business matchmaking events.
Corporate representatives will also take part as resource persons in the training programme.
"I am confident that we will succeed in making the connections that benefit both buyers and women suppliers," said Elizabeth A Vazquez, CEO and Co-Founder of WEConnect International.
"We will work closely with North South University to share business intelligence and training…seeking both networking opportunities with procurement departments and insights into how to navigate the complexities of corporate value chains. It is a win-win for all," she said.
"North South University is excited to be an implementation partner in the corporate connect program for women business owners," said Dr Atiqul Islam, vice-chancellor of North South University.
"We look forward to helping women entrepreneurs develop the skills necessary to compete for new business on a global scale," he added.
Source: https://www.thedailystar.net/business/economy/banks/news/programme-launched-women-owned-smes-2122321