Microcredit paves enterprising ways

Microcredit plays a vital role in empowering women. Nurunnahar Begum, like many others, dreams of leading a better life thanks to microfinance.

It is often said, "God helps them who help themselves." Nurunnahar Begum,a resident of Bhatia village under Narail Sadar upazila, has proved that hard work pays off.
Overcoming many ups and downs in life, she now prepares and markets 'sweet singara', 'laddo', cookies and biscuits. Her homemade finger foods are quite popular and sought after in her locality. Between Nurunnahar and her husband Atar Ali, they have set up a good business, as she prepares the tasty items and her husband supplies them to shops in town.
Their village is on the outskirts of the town, so it is quite easy for Ali to deliver the items and maintain good terms with the buyers.
Nurunnahar hired 10 to 12 workers to meet the demand for her local snacks. However, demand for her snacks fluctuates in line with changing seasons, and so does her income.
After deducting the costs of ingredients such as flour, sugar, and oil, and other expenses like fuel wood and labour wages of Tk 60 to Tk 80 per worker a day, sales proceeds leave behind Tk 8,000 to 15,000 in profit a month. The seasonal demand for her snacks brings about the fluctuation in profits.
With the income form her business, Nurunnahar maintains her household and pays loan instalments, after saving a portion for future rainy days.
She is a successful member of microcredit organisation ASA. Her current loan stands at Tk 14,000 and it is being repaid in regular instalments. This is her fifth loan from the organisation in five years and her fist loan amount was for Tk 4,000.
At that time, her husband Atar Ali used to run a small grocery shop and it was difficult for her to make ends meet with the income form the shop.
Her initial plan was to revamp the grocery shop, but her efforts failed miserably. But she was not one of those to give up. She observed some others making local snacks. She gave it a shot.
As in any new business venture, the first year was a trying period for her. Her business slowly gained momentum in the second year of operations. She was able to repay the first loan amount.
She found the strength and courage to take up a second loan to raise working capital and consequently, production, sale and profits.
She continued the pattern each year and her business has finally been established. In addition to hard work and strategic planning, she realises that microcredit is at the core of her success.
The poverty she faced five years ago no more constrains her. She has a daughter, now in grade 8, and a son in grade 6. She hopes she will be able to finance their higher education.
Nurunnahar and her husband Atar Ali, like many others, now dream of leading a better life. They believe that if they continue to work hard and depend upon the catalyst microcredit -- they will be able to change their fate.

Madan Shahu is Senior Assistant Editor, The Daily Star.