How can the women entrepreneurs in Bangladesh be well-equipped in the IT sector?

Committed to being 'Smart Bangladesh' by 2041, rampant in every sphere of the country's operation is being redacted, ultimately leading the country to enjoy economic freedom and phylogenetic transcendence.

In the era of globalization, the touch of information technology (IT) has highly practicable implications, ranging from personal life to national or cross-cultural applications, for necessity or to compete in the competitive world.

Women of Bangladesh engage themselves in all sorts of work, and acclimatization to AI is becoming critical, especially while doing business regarding women's entrepreneurship.

According to the Bangladesh Bureau of Statistics (BBS), in 2019-20 FY, the number of registered wholesale and retail businesses was more than 2.5 million, with more than 10 million male and almost 200 thousand female entrepreneurs.

Though the number is comparatively lower than that of male entrepreneurs, the percentage is in the upward position, and it increased to 829 per cent, compared with 2002-03 FY.

According to the Time Use Survey (TUS)—2021 report conducted by the Bangladesh Bureau of Statistics (BBS) and UN Women Bangladesh, 21.25 per cent of internet users were women, compared to 35.15 percent for men.

Though the survey reports regarding women are somewhat disappointing, the upward trend of women's engagement with trade is gradually increasing.

A friendly business environment for both men and women requires comprehending the portfolio of ventures and stretching to enhance profitability.

The excrescent conveniences to the women entrepreneurs by the central government to the local authority or Non-Governmental Organizations (NGO) through different monetary or financial supports, either by refinance policy by the central bank or tax rebate by the National Board of Revenue (NBR), add pushup to the women entrepreneurs to trade.

The burning question is how women can achieve and utilize opportunities to gain competitive advantages. One universal answer can be the usage of IT in business, as many stakeholders can be connected well through it. At the same time, product promotion and market surveys can also be done through using this technology. Moreover, homemakers can conduct their businesses through IT by staying at home, which facilitates them to perform their duties perfectly at home and outside.

To illustrate more about women entrepreneurship in IT, the writer talked to Niharika Momtaz, a fashion designer, sculptor, and cultural activist promoting Bangladeshi products and culture on national and international levels. She is also the founder of 1972 (Jewelry Brand).

The first question she was asked was to suggest how women entrepreneurs can adopt IT facilities well at their businesses. She answered, "My primary suggestion for women entrepreneurs is to embrace continuous learning and stay updated with the latest IT trends and tools. Enrolling in online courses or attending workshops focusing on essential IT skills can be incredibly beneficial. Joining professional networks and groups focusing on women in technology can provide invaluable support, mentorship, and resources."

"Taking advantage of free online resources and tools is also a great way to start. If it is possible, hiring IT professionals or consultants can also guide them through more complex tasks." She added, "Implementing what they learn through small projects can enhance their understanding and confidence".

What are the problems of women entrepreneurship in IT, and how can they solve them? In this regard, Niharika Momtaz said, "Women entrepreneurs often face challenges such as lack of access to training and resources, which can be solved by seeking out scholarships, grants, and funding opportunities, especially aimed at women in technology. Gender discrimination is also a significant hurdle, but building a strong support network of fellow women entrepreneurs and mentors can offer valuable advice and encouragement."

She further said, "Cybersecurity concerns are another issue, and educating the women and their teams on the best practices while implementing strong security measures can mitigate the problem. By proactively addressing these challenges, women entrepreneurs can harness IT skills to grow their businesses."

The increasing trend of women entrepreneurship in Bangladesh is undoubtedly a blessing for the country. But it should be remembered that Bangladesh still has some pitfalls, especially in IT.

The writer is an MBA student at the Department of Banking and Insurance at the University of Chittagong.

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