Budget not women entrepreneur-friendly | The Daily Star
12:00 AM, June 19, 2019 / LAST MODIFIED: 12:49 AM, June 19, 2019

Budget not women entrepreneur-friendly

Women’s body says

The proposed budget is not women entrepreneur-friendly as there is no allocation and initiative that can give a boost to entrepreneurship, said the Women Entrepreneur Network for Development Association (WEND).

The budget has offered VAT exemption to annual turnover up to Tk 50,000 and small and medium enterprises will be eligible for it, not the women entrepreneurs particularly, said Nadia Binte Amin, president of the WEND.

Before the budget, the association had recommended the government reduce the corporate tax for the companies run by female businesses, but the government did not entertain the demand, leaving them frustrated.

Amin was addressing a post-budget press meet at the conference room of the Economic Reporters’ Forum in Dhaka.

The association had also demanded increasing the tax-free ceiling to Tk 500,000 from Tk 300,000 for individual female taxpayers. Amin, however, called the proposed budget pro-people.

The WEND said banks do not want to lend to women entrepreneurs, citing a lot of excuses, including prospective borrowers not having guarantors and required documents.

“We are keen to be involved with the mainstream business and we don’t want to depend on trade,” Amin said.

She urged the government to reduce the import duty for export-oriented manufacturers run by female entrepreneurs to encourage women in business.

WEND executive members Nadia Yasmin and Mahbuba Rab also spoke.

 

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