Mini Mart, a chain shop set up and run by women entrepreneurs, yesterday celebrated its 20th founding anniversary.
It not only created market access for women but also fostered entrepreneurship and leadership.
The first Mini Mart, financed by MIDAS Financing Ltd, was set up in Dhanmondi in 1996.
The chain shop was established after Rokia Afzal Rahman, chairman of
MIDAS Financing and one of the leading women entrepreneurs of
Bangladesh, found that women in the city did not have showrooms to
display the merchandise they made. They could only supply their items to
markets such as New Market, Chandni Chowk and Gausia.
This prompted her to come up with the idea of setting up a chain shop
so that women could display and sell their products easily and get
better prices.
The first Mini Mart was set up in a rented building and MIDAS
financed 18 women who supplied their products to the chain store.
Initially, MIDAS helped women entrepreneurs in quality control and
management. Later, full control was handed over to them.
Thanks to the success of the initiative, more branches were set up in
Uttara, Gulshan and Bailey Road. In 2010, Mini Mart made a foray into
the port city of Chittagong.
Currently, 35 women entrepreneurs are selling their products, such as
garments, handicrafts and food through the five outlets. Every producer
in the chain shop has a unique code, which helps each entrepreneur to
get information about sales.
Speaking at the ceremony at MIDAS Centre in Dhanmondi, MA Mannan,
state minister for finance and planning, said initiatives such as Mini
Mart have become successful because of the hard work and efforts of the
entrepreneurs. "All of you deserve plaudits from the society and the
government," he added.
Reminiscing the days leading to the establishment of Mini Mart, Rokia
said women doing business had to share a percentage of their profits
with middlemen.
"So, we wanted to establish a system where the entrepreneurs will run
the business, thus eliminating the role of the middleman. Today the
Mini Marts are a huge success and bring profits for its sponsors."
She said many women entrepreneurs borrowed money from MIDAS Financing even 10 times and no one ever defaulted on their loans.
"The Mini Marts have helped entrepreneurs build a network among themselves as well as become leaders."
Hosne Ara Begum, co-chairperson of Dhanmondi Mini Mart, said women
entrepreneurs were inexperienced but were able to ride out the
challenges because of the support.
"The collateral-free loans gave us a lot of courage."
Shafique-ul-Azam, managing director of MIDAS Financing, said Mini
Mart is a history of dedication of the entrepreneurs. "They have set up a
model for others to follow."
Since inception, MIDAS Financing has lent Tk 222 crore among 1,500 women entrepreneurs, said Azam.
Women who started with Mini Mart have emerged as successful entrepreneurs in the country, he added.
Nasrin Ruba, an entrepreneur, said she along with some others has set
up a resort in Gazipur, which is doing good business. Roushan Ara
Mahmud, another entrepreneur, said she now supplies homemade food items
to major department stores in Dhaka.
