Mastercard, ShopUp join forces to empower women-led small businesses

The Mastercard Center for Inclusive Growth, in partnership with commerce platform ShopUp, has launched an initiative titled Porshi, aimed at equipping women-led small businesses in Bangladesh with the digital tools and skills necessary to flourish in the modern economy.

Supported by the Gates Foundation, the programme seeks to upskill 1,600 female small business owners and enhance their access to a broader range of fast-moving consumer goods. Approximately 40 percent of these entrepreneurs are expected to consistently utilise ShopUp's app to streamline last-mile delivery services.

"Small businesses play a vital role in building strong and resilient communities," said Subhashini Chandran, senior vice-president, social impact at the Mastercard Center for Inclusive Growth.

"This initiative will enhance the revenue streams of women entrepreneurs and empower them to become more resilient, competitive, and successful in today's digital economy," she added.

In Bangladesh, micro, small, and medium enterprises (MSMEs) are the backbone of the economy, contributing 25 percent to GDP and employing 87 percent of the workforce. Despite this, they face considerable barriers, including a $2.8 billion financing gap, informality, and limited job security.

Only 7.2 percent of registered MSMEs are led by women—mostly micro-enterprises—yet a vast number of women-run businesses operate informally, making a substantial contribution to the economy by providing goods, services, and employment, particularly to other women.

"Mastercard recognises the immense economic potential and multiplier effect of empowering women-led small businesses in Bangladesh," said Syed Mohammad Kamal, country manager for Bangladesh at Mastercard.

Amy Pennington, senior programme officer for women's economic empowerment at the Gates Foundation, commented: "Bridging the gender gap in market access and digital inclusion is critical to achieving inclusive economic growth. When women can fully participate, entire communities benefit."

"Porshi is not just a programme; it is a movement transforming how rural women participate in commerce," said Mamun Rashid, president of ShopUp.

Entrepreneurs from SMEs and MSMEs across the country, along with senior representatives from Mastercard, ShopUp, and the Gates Foundation, took part in the event.