Kuakata businesswomen face capital crisis

Domen Rakhine, 45, has run a clothing stall at Kuakata Rakhine Women's Market since 2003. She is one of fourteen women entrepreneurs at the market. With proceeds from her small business she covers the daily expenses for her two-daughter family. Yet to see her half-empty shop one could barely imagine that her business is in relatively good shape. Like the other women entrepreneurs in the market, Domen lacks the capital to properly stock her shop, and to fund its expansion. Moreover, she says, there is no easy means to access the desperately needed capital.

“I just can't buy enough goods to make a really attractive display at my shop,” she says. “I have no capital and there isn't any government or other facility available where I could borrow the money at reasonable interest rates. I have customers, but a really good range of goods on display would attract more.”

Another woman passes idle time in absence of customers at her shop at the same market. PHOTO: STAR

Another businesswoman Mamase, Domen's neighbour at the market, has the same problem. “I can't run my business well due to insufficient capital,” she says. “And it's a pity since this business is my family's sole income source. We face competition from local businessmen, most often Bangalees, who have the capital and are able to fund attractive displays. If any authority stepped forward to help us with access to capital on reasonable terms, there's no reason why we could not succeed.”

The market was built in 2003 by the Patuakhali district administration, with the fourteen Rakhine women allocated stalls in order to encourage them in business. While such initiative is well-appreciated by the women, the lack of capital facilities is now proving a stumbling block.

“We have only stalls but no cash to establish our businesses well,” says Luma Rakhine, a local community leader. “Our community isn't rich so finding the funds from within it isn't an option for most families. We have raised the issue with the local administration, thus far in vain.”

She says that during a recent visit to the area, Kalapara upazila's nirbahi officer ABM Sadiqur Rahman assured them that bank loans at low interest rates would be managed for all the businesswomen. “He doesn't seem to have taken any step with regard to doing this,” she says.

When contacted, Rahman told The Daily Star that any Rakhine woman could receive a bank loan from any bank in accordance with the usual procedures banks use to run their businesses. “Only the bank authorities could implement a project with special loan terms for them, considering their socioeconomic condition,” he said.

The manager for Krishi bank's Kuakata branch Sultan Mahmud Nadim says they indeed have a special loan programme for women entrepreneurs. “Three of the Rakhine traders have already received Tk 1 lakh loans each under this programme. The others can also apply.”

It is unfortunate that the majority of Rakhine traders at the women's market would seem to be unaware of such facilities.