Mr. Mohammad Mushfiqul Haque Mukit, Ms. Nusrat Jahan Nabila and Prof. Assim Ibrahim Abdel-Razzaq
Volume 3 Issue 4 | Dec 2020
DOI: 10.31841/KJEMS.2021.18
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Abstract
The entrepreneurial process drives the economic activities significantly. In many developed countries including Bangladesh, female entrepreneurship is an increasingly rising phenomena. Women are an untapped source of economic progress, making up half of our population, and entrepreneurship is one way of mediating that growth by exploiting that tremendous pool of human resources. Cultural restrictions are one of the major factors boiling the development of women's entrepreneurship in Bangladesh. This study aimed to reduce the financial challenges, to establish the women’s entrepreneurship in rural area, so that, contribute into the mainstreamed economy. Women's financial literacy is the key, but social consciousness must also play a major role in bridging this divide, and the paper is heading in that direction. To achieve the above objective, qualitative and quantitative methods have been used. Moreover, structured model questionnaire provided hundred random entrepreneurs in rural area to bring out the real insights of drawback and figure out how financial inclusions can contribute more in the informal economy. The results of this study suggest that complicated loans process, high-interest rates, absence of a life skills program, lack of financial freedom for women and property rights, entrepreneurial paradox, absence of collaterals, financial institutions negligence, mismanagement of loans, lack of interactions with local successful entrepreneur and imbalance of family and professional promise are the major barriers in accessing financial institutions in Bangladesh.
Keywords: Economy, Entrepreneur, Financial Inclusion, Informal Economy, Rural, Women.