Leveraging on the Urban Economy to Promote the Growth of Women-Owned Small Businesses in Bangladesh
DOI:
https://doi.org/10.38157/business-perspective-review.v3i1.234Keywords:
Small business, women-owned small business, urban economy, growth, developing country, city-based features.Abstract
Purpose: The contribution of small businesses to a country’s economic growth is vital. It makes sense to accentuate the small businesses by emphasizing the neglected segments. The present study aims to explore the women-owned small businesses (WOSB) and their various problems. The study also examines if the city-based features of the urban economy can be favorable to promote the growth of WOSB.
Methods: The concept paper conducts secondary research by selecting sample literature on WOSB of Bangladesh from the manufacturing, and trading sectors. The selection and classification of extant literature were conducted by emphasizing problems faced by WOSB, and the city-based amenities of developing countries. The extracted information is analyzed by categorizing and interpreting relevant issues to create a base-model of venture-growth.
Results: Based on the literature review, a growth-framework is formulated that reflects the issues faced by WOSB categorized as financial illiteracy, inadequate human capital, insufficient social capital, and business environmental hiccups. Also, the substandard growth of WOSB is envisaged in the model if the problems are not addressed timely. The study also discovers that the urban economy could be leveraged to make these issues less coercing for the women owners.
Implications: The paper creates a nexus with the WOSB and the privileges of urban platforms to ensure better growth of the firms.
Originality: As far as authors could determine, the aimed research-domain was mostly covered from the perspectives of developed countries, rarely covered in the context of developing countries, and almost absent in Bangladesh. This paper attempts to fulfill that gap.
