Challenges and Prospects of Young Women Entrepreneurs in Rural Bangladesh: A Study on Socio-Cultural Perspective

Abstract

This study aims to explore the socio-cultural factors influencing young women entrepreneurs in rural Bangladesh, with a focus on uncovering both challenges and opportunities. The study seeks to create insights that align with national women and youth welfare strategies, offering actionable solutions to foster sustainable entrepreneurship. The primary objective of t5his study is to investigate the challenges faced by rural young women entrepreneurs, as well as to assess their socio-demographic status, the sources and impact of challenges, and potential opportunities. Specifically, the study examines the socio-cultural elements, supportive actors, and experiences of women entrepreneurs in rural areas, ultimately proposing policy recommendations for promoting sustainable entrepreneurship. Employing a mixed-method approach, the research integrates a survey of 500 participants from 10 villages and 20 in-depth case studies, ensuring both a broad and nuanced understanding of the issues at hand. The data reveals that 61% of respondents are married, with 42% having completed higher studies. Key challenges identified include family culture (81.6%), community values (67.4%), financial policies (90.8%), and family demotivation (91.2%) at the initial stage. Additional challenges include negative community attitudes (86.8%), security concerns (81.6%), male-dominated business environments, and limited financial support from family and institutions. Despite these barriers, the study uncovers promising prospects for women entrepreneurs, particularly in crafts and home-based industries (81.6% potential), tailoring and garment making (85.8%), and handicrafts production (81%). These sectors are seen as highly viable due to skill availability, cultural relevance, and export potential. The beauty and wellness industry are also emerging as a growing opportunity, with 81% rating it as a promising field. Supportive actors include government bodies, NGOs, microfinance institutions, and the private sector. The study concludes by urging these stakeholders, alongside development partners, to focus on addressing socio-cultural barriers to empower young women entrepreneurs in rural Bangladesh.