Dhaka : Bangladesh Mastercard Center for Inclusive Growth announced a new collaboration with commerce platform ShopUp, also supported by the Gates Foundation, to equip women small business owners in Bangladesh with the digital skills and tools they need to grow and thrive. This partnership is part of the global Mastercard Strive initiative that aims to support small businesses in their digital adoption and upskilling journey, according to a press release.
The program, Porshi, aims to upskill 1,600 small business owners and deliver support to unlock access to a wider range of fast-moving consumer goods, enabling about 40% of the small business owners to consistently use ShopUp’s app for last-mile delivery. “Small businesses have a key role in creating strong and healthy communities,” says Subhashini Chandran, Senior Vice President, Social Impact, Mastercard Center for Inclusive Growth. “This effort will boost women small business owners’ revenues and support them to become more resilient, competitive, and successful in digital economy.” In Bangladesh, micro, small, and medium enterprises (MSMEs) drive the economy, contributing 25% to GDP and employing 87% 1 of the workforce. However, they face a $2.8 2 billion financing gap and other challenges including informality and limited job stability. While only 7.2% 3 registered MSMEs are led by women—mostly micro in size—many more operate informally, and contribute significantly to the economy by providing goods, services, and employment, particularly for other women.
“Mastercard recognizes the economic potential and ripple effect of supporting the growth of women-led small businesses in Bangladesh,” says Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard. “Despite their small size, they drive local economies and create new opportunities for other women. All they need is the right technology, skills and financial literacy to grow and succeed.”
“Closing gender gaps in market access and digital use is essential for inclusive growth. When women can fully participate, entire communities and economies are better off,” says Amy Pennington, Senior Program Officer, Women’s Economic Empowerment, Gates Foundation ShopUp connects mills, brands, and manufacturers to small neighborhood shops, giving them easy access to a stable and diverse supply of food and essential goods. Using ShopUp’s mobile app, small business owners can manage orders from local households and deliver affordable products directly to their doorsteps. Millions of rural households benefit from ShopUp’s distribution network of digitally enabled small business owners.
