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Create scope for women to flourish in business: analysts

Dipu Moni speaks at discussion on women entrepreneurs

Star Business Report
Women entrepreneurs in South Asia are failing to flourish due to shortage of funds, difficulty in marketing, social constraints and non-participation in decisionmaking, analysts said yesterday amid calls for governments and private sectors to change the scenario.
Women are treated as second-class citizens in the region while their contribution to the economy is totally overlooked, they said.
The comments came at a discussion on "Women Leadership" on the second and concluding day of the South Asia Entrepreneurs' Convention LEAD 2012 at Sonargaon Hotel in Dhaka.
The Saarc Chamber of Commerce and Industry and the Federation of Bangladesh Chambers of Commerce and Industry coorganised the event, themed "Youth in rising South Asia: promises and dreams".
Speaking as the chief guest, Foreign Minister Dipu Moni said democratic institutions were of
paramount importance in securing the fundamental rights of women and providing them with mechanisms for full economic, political and civic participation.
Although women are often engaged in entrepreneurial activities, they face numerous barriers that deter them from developing their enterprises, scaling up, and creating jobs for others, she said.
The minister said one big problem is that women's enterprises are often informal while in many countries women play a dominant role in informal economies.
She emphasised bringing “informal businesswomen" into the formal sector where they can build on their productive assets and have access to state institutions and public services and that there must be adequate incentives and minimal barriers to formalisation.
Statistics show that women entrepreneurs account for less than 10 percent of the total entrepreneurs in developing economies, including South Asian countries, whereas the figure is about
25 percent in advanced economies.
Ajeet Caur, president of Foundation of SAARC Writers and Literature, India, said girls, those living in the slums of a big city, are treated as second-class citizens and are never taken seriously. "The rich never realise that the poor are required in the city and they treat them like trash,” she said.
Maleka Begum, professor of the department of Women and Gender Studies at Dhaka University, said they have been fighting for the rights of women but the problem persists. "We have got family inheritance laws, but discriminationremains."
"Women have less access to money, market, training, network and policy-making. So, not only the individual and the society, the state also has to come forward to change the scenario," she said.
Zarine Aziz, former president of First Women Bank in Pakistan, said the statistical invisibility of women is unfortunate as their
productivity is not shown in the GDP and their household chores are not counted as economic activity.
Vandana Luthra, founder and chairman of VLCC Group, a beauty, health and fitness company, said women in power in Saarc countries are showing them the path and encouraging them to work more. "Their positions give us hope."
Vani Kola, managing director, Indo-US Venture Partners, India, said women get little recognition for what they do. "Women do a lot of things, but as they do not carry any economic value because the societies do not monetize their contribution. We have to change the situation.”
Pramila Acharya Rijal, chairperson of Saarc Chamber Women Entrepreneurs Council (SCWEC), Nepal, and Nasrin Awal Mintoo, vice president of SCWEC, were also present.
Rubana Huq, managing director of Mohammadi Group, moderated the session.