How social media platforms are empowering women entrepreneurs

Since its inception in the early 2000s, social media platforms like Facebook have mainly been used by people to stay connected with their friends and family. However, with time, Facebook has vastly evolved from being just a social media platform, to being a versatile business platform.

With its access to wide user data, Facebook can create customised ads dedicated to attracting particular user groups. Upon being convinced by the ads, the user only needs to send an order to the advertiser, and the product gets delivered to the user's doorstep. As such, shopping in the chaotic city of Dhaka has become much easier. Interestingly enough, a large number of the Facebook-based business ventures have been formed, and are run and managed by women, which directly and indirectly contributes to women's empowerment in the country.

According to Statista, Bangladesh has an internet penetration rate of 18 percent (2017), which is increasing year-on-year due to government and non-government initiatives. In the major cities, social media literacy also remains high among different age groups, starting from primary school students to our retired parents and even grandparents. Statista also ranked Bangladesh among 15 countries with the highest Facebook users (2020). As such, young women entrepreneurs of the country were quick to jump into action and utilise the opportunity. Apart from ease of marketing, business platforms based on social media come with several other advantages, which particularly benefit women entrepreneurs.

One of the primary concerns of starting a new business is the operational cost associated with the business. Unfortunately, we are still skeptical when it comes to investing in women's empowerment. Thus, the foremost business challenge a woman entrepreneur faces is management of her operations and related costs. Platform-based business help significantly in dealing with such issues by reducing the operational effort and cost. Product-based businesses do not need a showroom for product display, as it is done through the business page, inventory and product distribution is managed centrally, trends and customer feedbacks are readily available, and business can be scaled as required. Service-based businesses are no different either. All one needs is a laptop or a smartphone with an internet connection to get up and running with her Facebook-based business venture.

With a global user base of 2.35 billion and 25 million in Bangladesh, Facebook is undoubtedly a great platform for business based networking and client hunt. While Facebook allows you a boundless audience reach, at the same time, it also allows you to target specific user groups, who are most likely to be attracted to your products. As such, Facebook can offer excellent marketing opportunities for your business with minimum investment on ads. Furthermore, apart from paid ads, owned and earned marketing through a business page, customer shares and other media helps greatly in promoting the business. And all of it can be done from the comfort of one's home. Thus, Facebook has become a primary choice for women who want to run a business in comfort and with security, which our society fails to provide in so many ways.

In our social context, it is quite common for women to quit their job after getting married or having kids due to increased responsibilities at home. However, every educated woman wants to have self-worth and contribute to her society and family in a meaningful way. Platform-based business models provide a solution to this. Every business needs dedicated time and effort to reach success, however, for Facebook based businesses, the owner gets to decide the work hours, and the level of effort to provide, allowing her the freedom to manage her personal life as she pleases. This allows her to balance her work and life the way she wants to.

Every individual wants to have the joy of success and acknowledgment. Unfortunately, in our social context, we see a large population of women retiring very early from professional life, considering family responsibilities. In doing so, they not only sacrifice all the hard work they have put into their studies and career development, but also the resources the government invested in their development. While it won't be easy to change our social order and mindset soon, at the very least, platforms such as Facebook are creating opportunities for all our talented women who have the courage and desire to accomplish something. It allows them to try out different ideas with minimum risk and learn in the process, until success appears. However, the platform is surely not limited to early retirees, it is also a vessel for young and courageous entrepreneurs, especially women who wish to step into the business world early and succeed with their hard work and determination.

Every technological advancement comes with pros and cons. While millions are complaining about excessive use of social media and their influence on our lives and privacy, its business platform is certainly serving as a boon of great hope for our women in a male dominated society. It is wonderful to see that with the help of such platforms, our women are moving forward with their ideas and willpower to achieve success in professional life, while fulfilling their family responsibilities.

Aroka Chowdhury is currently working in one of the leading investment banks in Bangladesh and as a part time faculty in a private university. Email: aroka.chowdhury@yahoo.com