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These serve as significant pointers for any practitioner seeking to implement DFL initiatives elsewhere.
Many of the best practices and aspects identified will be replicable, albeit with certain modifications to accommodate the local social and economic landscape.
These recommendations have already had important impl... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 13 Tool What it contains Intervention What we can measure Modules/ videos 5 modules/videos 1.
Importance of Business Planning 2.
Creating a Budget 3.
The Importance of Saving 4.
Plan for Financing 5. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Creating a Digital Mindset • Platform • Digital training • In-person training • In-person field visit • Number of people who participate in the programme (outreach) • Number of people who complete each module • Completion rates Module quizzes A question for each module to measure knowledge and skills through situationa... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Table 1 shows what each tool measures, and the modality of delivery (whether virtual, face-to-face, or indeed both) supplemented by social media, SMS and e-mail.
The subsequent section explains in more detail the delivery models deployed and channels of communication identified. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 14 TABLE 2 | Delivery models ekShop ShopUp DELIVERY OF MODULES • Embedding modules on the ekShop onboarding platform • Developing own learning platform • Creating course in an e-learning platform, Muktopaath • Upload... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
ekShop also developed its own learning platform for the modules and created a course on its e-learning platform Muktopaath.
Due to the multiple digital channels used by ekShop, it was comparatively successful in terms of online completion of the modules, as well completion of online quizzes.
By contrast, ShopUp exper... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Many of its merchants were working 12–16 hours per day and simply lacked the time to participate.
Both partners tried to conduct learning assessments through an in-person or virtual training model to promote participation and completion of the videos and different learning assessment tools, in addition to providing ad... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
ekShop was more successful in this approach due to its ability to embed the training within an existing training infrastructure through other programmes and through partnerships (such as the Anandamela network, district branding).
ShopUp, by contrast, adopted a more labour- intensive model, sending field staff to work... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Field staff traveled to the vicinity of traders’ homes or directly to their business premises to run through the modules on their laptops and administer the quizzes.
Some field staff used their phones and tablets as well.
Many SMBs conducting their businesses from home due to the pandemic. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
ekShop designed its learning platform in such a way that a participant had to complete the relevant quizzes after watching the videos, and had to receive a pass mark on the quiz (60 percent or higher) in order to be able to start the next module.
Of those participants who successfully completed the first quiz, 70 perc... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 15 ekShop ShopUp DELIVERY OF PRE/POSTTEST • The pretest was given before the online course through Anandamela with women SMBs, then the videos were shared from YouTube and the posttest was given after discussion and ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Interesting similarities and differences emerge.
Both groups have a mostly married sample group (80 percent and 75 percent) and small family size with most having 0-1 children (59 percent and 58 percent).
In comparison, the education levels of the two groups differ.
ekShop’s target group is highly educated, 70 perce... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
In terms of gender, the ekShop sample size is mostly women (85 percent), while the ShopUp sample is more evenly balanced, with 54 percent women participants.
This is mainly attributable to the way ekShop’s sample was derived: in conjunction with online training provided by its partner Anandamela that consisted mainly ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
This may be directly related to the number of businesses operated by the SMBs of the different partners.
Without exception, for ShopUp merchants the business on that platform was their main business, whereas that was the case for only one third of ekShop merchants, indicating that many have additional small businesses... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 16 FIGURE 1-5 | Socioeconomic characteristics of the target groups EKSHOP SHOPUP 1.
Martial Status 2.
Number of Children 3.
Education 4.
Gender 5. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Weekly Income (in Bangladeshi taka) 80% | Married 19% | Not Married 1% | Single Mother 29% | No children 30% | One child 33% | Two children 8% | 3+ children 69% | Masters 25% | Honours 3% | HSC 1% | SSC 15% | Men 85% | Women 46% | Men 54% | Women 76% | Married 24% | Not Married 24% | Graduate 50% | Non-Graduate 26% | D... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
With its more labour-intensive field-based approach, the other partner focused primarily on the pre/posttest and mini survey tools, administered in-person, to better assess the learning outcomes of the modules.
Both partners were able to administer a similar number of satisfaction surveys to determine the next steps.
... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Tool eKshop ShopUp Module participants 3153 1118 Quiz 2259 253 Pre/posttest 594 781 Mini survey 95 229 Satisfaction survey 486 489 Trainer survey 6 10 Total for assessment tools (excluding module participants) 3,440 1,762 TABLE 3 | Outreach by tool Digital financial literacy via e-commerce: Implications in Bangladesh, ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Table 4 shows that modules of both partners succeeded in exerting a significant impact on learning.
Pre/Posttest results Women Men % Correct % Correct % Change % Correct % Correct % Change Pretest Posttest Pre vs. post Prettest Posttest Pre vs. post 1 What are the important things to consider before starting a busines... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
5 You should spend all of your monthly income 6 What stage of your business do you plan to see in the next 6 months?
7 Which of the following is an example of “Fixed Cost”?
8 If you need 60,000 taka a year to start a business, how much money do you need to save per month? | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
9 Your product should be promoted to anonymous buyers 95% 95% 0% 0% 77% 87% 85% 90% 100% 90% 15% 13% 33% 8% 21% 59% 3% 21% 28% 3% 8% 21% 5% 0% 77% 90% 64% 85% 46% 79% 51% 79% 97% 90% 69% 97% 15% 97% 97% 90% 100% 74% 100% 95% 85% 92% 74% 100% 97% 92% 97% 95% 0% 0% TABLE 4 | Pre and posttest results of women and men with... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Table 4 presents the overall picture that emerged and the accompanying discussion follows.
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 19 Table 5 compares the percentage of women and men with more than one year of business that pass the pre and posttest (60 p... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 5 | Women and men with 1+ years of business who pass pre/posttest (60%+) 1+ years of business Women Men Pretest (60% or higher) 90% 95% Posttest (60% or higher) 92% 97% The data show that men perform better on certain topics, but women perform better on others.
The difference between genders was not always prono... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Women with higher educational attainment (a bachelor’s degree) scored higher than a comparison group of women, and indeed higher than men with a similar level of education, on the skills-based question of calculating a monthly savings goal.
Women also scored higher initially on sources of business capital (22 percent ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Table 4 presents the results of the pre and posttest for a smaller comparison group of men and women (sample size of 39) with a business that has been operating for one year. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
It is interesting to note that both men and women had problems initially in identifying the correct response for question 4 (number of months for emergency business fund) in the pretest (46 percent for women and 51 percent for men) but they were both more capable of identifying the correct response after the training (... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Women struggled more with the skills-based question 9 of calculating how much they need to save monthly based on annual savings goals more than men prior to the training (15 percent for women and 74 percent for men) in line with the often lower financial literacy levels of women.
However, women were able to make the c... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
It was more challenging for women than men to identify an example of a fixed cost with question 7 prior to the training (69 percent vs. 85 percent), but they were able to do that more clearly after the training (90 percent for a 21 percent increase).
It was, however, easier for women to identify important consideratio... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 20 Table 6 presents the results of the pre and posttest for a smaller comparison group of men and women (sample size of 24) with a bachelor’s degree. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Similar to the comparison of men and women at the same stage of business, men and women with similar education levels had problems initially in identifying the correct response for question 4 on the number of months for emergency business fund in the pretest (33 percent for women and 58 percent for men), but they were ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
One other notable difference is that women with a bachelor’s degree did not struggle with the skills-based question 8 of calculating a monthly savings goal, in stark contrast to the efforts of women with one year of business prior to the training (96 percent compared to 15 pretest in pretest).
In fact, the educated wo... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 6 | Pre and posttest results of women and men with bachelor’s degree Pre/posttest results Women Men % Correct % Correct % Change % Correct % Correct % Change Pretest Posttest Pre vs. post Pretest Posttest Pre vs. post 1 What are the important things to consider before starting a business?
2 What are the benefits... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
5 You should spend all of your monthly income.
6 What stage of your business do you plan to see in the next 6 months?
7 Which of the following is an example of “Fixed Cost”?
8 If you need 60,000 taka a year to start a business, how much money do you need to save per month?
9 Your product should be promoted to anony... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
0% 0% 0% 0% 0% 0% 21% 29% 4% 8% 17% 13% 8% 8% 46% 13% 4% 4% 92% 88% 83% 100% 83% 75% 92% 96% 33% 92% 96% 92% 100% 96% 79% 96% 96% 79% 79% 88% 75% 100% 96% 79% 79% 100% 58% 92% 88% 96% 100% 100% 88% 96% 100% 88% Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 21 Ta... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
More men than women pass the pre and posttest when comparing similar education levels.
However, the online training seems to make a greater difference (albeit on a smaller sample) for women than men in improving their overall score (8 percent increase for women as compared to a 4 percent increase for men). | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 7 | Women and men with bachelor’s degree that pass pre/posttest (60%+) TABLE 8 | Women and men that pass pre/posttest (60%+) 1+ years of business Women Men Pretest (60% or higher) 88% 96% Posttest (60% or higher) 96% 100% 1+ years of business Women Men Pretest (60% or higher) 15% 11% Posttest (60% or higher) 95% ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Overall, the results were pretty similar across both groups with a slightly higher percentage of women passing both the pre and posttest (15 percent vs. 11 percent; 95 percent vs. 94 percent).
eKshop gave its pretest before promoting the virtual course, then the videos were shared via YouTube and the posttest was give... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
The modules and additional support provided during the online training were effective in increasing the knowledge and skills of the participants, with an interesting, but statistically rather marginal exception (the question on the desirability of spending all monthly income; a finding mirrored by the other partner). | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
The three highest changes were found in the skills- based questions of calculating monthly savings based on certain income (8.92 percent improvement), identifying examples of fixed costs (9.43 percent) and identifying the number of months of savings to set aside for an emergency business fund (25.93 percent).
It will ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Those pre- and posttests were also given to a smaller sample of participants (101) who did not participate in the online training and receive additional support but instead completed the modules on their own, in effect teaching themselves.
The direct and rigorous comparison between the two groups - those with and with... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
However, the modules were still effective in increasing the learning (i.e., knowledge and skills) of SMBs when completed in a self-paced, auto-didactic manner and do not necessarily require additional support in the form of online training.
Digital financial literacy via e-commerce: Implications in Bangladesh, especia... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
ekShop groups, by contrast, showed higher scores overall, though less change in learning, with the exception of the question about contingency savings set aside for future emergency circumstances.
The differences could be explained by various possible factors, but it is worth noting that educational levels are higher ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
The latter are probably more familiar with multiple choice style questions, and it would appear that in many cases the content of the basic modules was too basic for them.
ekShop groups showed greater understanding of the benefits of digital business (question 2), and stronger understanding of financial management (qu... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 9 | Learning outcomes for pre- and posttest Pre/Posttest results Women Men % Correct % Correct % Change % Correct % Correct % Change Pretest Posttest Pre vs. post Pretest Posttest Pre vs. post 1 What are the important things to consider before starting a business?
2 What are the benefits of doing business online... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
5 You should spend all of your monthly income.
6 Do you have a plan for your business in the next six months?
7 Business income and expenditure accounts should be recorded every month.
8 What is an example of a fixed cost?
9 Suppose you need 60,000 taka to start a business in a year, how much money do you need to s... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
4% 2% 5% 26% 1% 3% 9% 55% 17% 17% 43% -5% 36% 47% 54% 86% 90% 80% 45% 98% 94% 73% 90% 92% 85% 71% 99% 97% 82% 21% 15% 20% 13% 91% 30% 32% 44% 76% 32% 51% 56% 87% 66% 79% 98% 9% 0% 57% 4% 81% 95% 90% 95% 43% 96% 100% 100% Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in busi... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 10 | Summary of key lessons learned Delivery approach Target group Success rate Key insights gathered Virtual training delivered to larger groups through partnerships (e.g., Anandamela) Women SMBs Effective Effective for more educated audience and when embedded into an existing training infrastructure/programme I... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Will know more after six-month follow-up with mini survey (only tool administered to this group) Plan to explore further in next stage Digital learning platforms such as Muktopaath SMBs but channel is open to anyone Not as effective because did not specifically target SMBs; also reached professional groups (e.g., teach... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
In general the content needs to be short and straightforward for the best participant experience.
The narrative (or story) element of the sessions and videos proved to be particularly engaging.
However, relatively complex material may be appropriate for more educated participants.
This may mean spending less time se... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Small incentives such as certificates can increase participation in virtual or in-person training.
The virtual model was helpful in reaching more SMBs and promoting scalability of the project; however, both partners found value in connecting personally with participants by phone, SMS or in-person.
This personal touch... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 24 PARTICIPATION AND MOTIVATION • The overall participation rate was higher on dedicated learning platforms than via YouTube.
• The completion rate was higher, however, on the dedicated landing page than the associa... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Interaction with entrepreneurs such as through online meetings, social media, or phone calls, served as a vital incentive to complete learning assessment surveys because this functions as an additional support mechanism.
• Virtual or in-person trainer-led interventions are the most effective way to complete learning... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
To get 100 participants (non-trained) to complete the survey, a partner had to reach out to more than 500 participants through SMS, email and repeated phone calls.
CONTENT AND METHODOLOGY • The story part of the sessions and the videos was more engaging because it evoked or elicited participants’ own experience.
• Si... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• The videos should spend less time on extremely basic material, such as laying out the reason for starting a business, and instead spend more time on the problems and solutions.
• Present stories in a non-linear fashion with multiple options and endings, creating intellectual stimulation and complexity that is closer... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Relatively small groups of SMBs (five-seven people) can promote learning better than smaller groups (or one-on-one).
• Align modality with time constraints and availability (for example, afternoons generally better than lunch time or in the evening).
• Although fairs with a larger group of SMBs are more difficult t... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Consider packaging trainings with other interventions to bring together a larger pool of SMBs.
TABLE 11 | Lessons learned Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 25 With regard to the educational level of participants, Table 12 compares the percentage o... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
It is interesting to note that similar proportions of graduates and non-graduates passed the test after the training and that the high pass percentages (96 percent for graduates and 94 percent for non-graduates) represent a significant improvement and demonstrate the overall effectiveness of the training.
Furthermore,... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
However, it does show that a higher percentage of graduates overall passed both the pre- and posttest (16 percent versus 12 percent; 96 percent versus 94 percent). | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
TABLE 12 | Graduates and non-graduates that pass pre/posttest (60%+), via ShopUp Education Graduates Non-graduates Pretest (60% or higher) 16% 12% Posttest (60% or higher) 96% 94% Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 26 RECOMMENDATIONS A range of recomm... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
These could be of interest to public and private sector stakeholders considering the design of analogous digital and financial learning interventions.
CONTENT • Ensure that the content deploys a narrative format with engaging characters and realistic scenarios to impart key learning points.
• Develop and crystallize ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Keep the fundamental sequence straightforward.
In other words, ensure that a participant completes each module before proceeding to the next.
• Enable participants to learn the material that they want and need.
Therefore listen to feedback received from them during exploratory pilot or smaller-scale interventions.... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Consider the following topics when developing DFL content, following the needs highlighted by SMBs in Bangladesh aiming to join an e-commerce platform.
a.
Promoting a business in the digital space: this involves basic choices about medium of promotion and international payment method, in addition to definition of t... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
b.
Funding, loans and savings: this must cover where and how to apply for a loan; any alternative sources of funding; types of loans and interest rates; articulating long-term savings goals and identifying appropriate savings products.
c. Business management: this includes adopting a realistic vision of business grow... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
d. E-commerce: this means building the kind of professionalism that lies at the intersection of ICT skills and confidence-building, involving account opening, product uploading, domain hosting, and product presentation (especially photography).
e. Accounting: this must be understood to include budgeting, and product p... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
f. Soft skills: These entail not only communication, negotiation, and problem-solving, but also how these skills function in the exploration of business opportunities and network expansion. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 27 DELIVERY PATHWAY • To identify and reach women efficiently and effectively, make use of existing partnerships with women-focused non-governmental organizations and district branding networks that have trained staf... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• To reach a market segment with lower than average Internet and digital adoption and comparatively less education, especially women, consider that a more labour-intensive field-based model may be appropriate alongside a virtual model.
• Consider beginning with a fair-based model with kiosk-type booths in open spaces ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• While initially providing in-person group-based learning opportunities, consider how best to assess the feasibility of subsequent implementation of a virtual model.
• Relatively small groups of five to seven people can promote learning better than smaller groups or one-on-one training as engagement between participa... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Align modality with time constraints and availability - for example, afternoons are often the most convenient time of the day while evenings are not always suitable.
• To reach a market segment with higher than average Internet and digital adoption and comparatively more education, consider using a project platform ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Leverage public sector relationships to embed modules into existing trainings of line ministries, for example, ministries of education, commerce and women’s affairs, as they can drive the reach, while ministries have the resources to support such interventions.
• Allow the pattern of target groups to determine the c... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Virtual and field-based models are not mutually exclusive and combinations of channels can be tailored to suit groups in terms of location, business aspiration and education.
• Consider the use of incentives for participation, such as certificates, to motivate progression through the entirety of a learning course.
• ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• To ensure that participants complete feedback surveys, both virtual and in-person trainer-led follow-up can be effective, even though the latter is a more labour-intensive process.
Phone calls are not an efficient channel to ensure completion of the learning assessments, yielding a success rate of 20 percent even co... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 28 SUSTAINABILITY • Adopt a clear product-oriented and solution-driven approach that helps participants tackle their own real-world problems.
• Keep adult learning principles in mind when designing the content and d... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
• Leverage existing infrastructure such as training schedule and materials, space, and human resources to ensure the sustainability of such interventions by the organization.
• In particular, deploy trainers and field-staff who have already been trained during earlier phases to deliver subsequently refined and expande... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 29 ANNEX I: PRE/POSTTEST TOOL Question Answer 1.
What are the important things to consider before starting a business?
a) Buyer demand b) Your skills c) Availability of raw materials d) All of the above 2.
What ar... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
What are the benefits of doing online business?
a) Need physical presence of the store b) Can reach national and international buyer easily c) Can not be managed from a fixed place d) None of the above 3.
What are the different sources of business capital?
a) Your own savings b) Savings from friends and family c) Lo... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
a) 1 months b) 2 months c) 3 months d) None 5.
You should spend all of your monthly income.
a) True b) False 6.
Do you have a plan for your business in the next six months?
a) Yes b) No 7.
What is an example of a fixed cost?
a) Rent b) Internet c) Utilities d) All of the above 8.
Suppose you need 60,000 taka to ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
You should promote your products to people you do not know.
a) True b) False Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 30 ANNEX II: RAPID NEEDS ASSESSMENT: SURVEY FINDINGS ON THE LEVELS OF DIGITAL AND FINANCIAL LITERACY Survey Findings: Digital Literacy Sni... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
The overall level of digital literacy is beginner The research findings revealed that both ekShop and ShopUp participants have access to digital technology and services and are actively using them but have only beginner level of literacy.
This indicates that they had a basic level of understanding of the digital platf... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Training on data literacy, digital content creation and online lead generation are some of the areas that can be further explored to help these entrepreneurs unlock the next levels of digital literacy.
b. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
b.
Overall positive adoption of Internet and digital services The research findings depict high levels of smartphone adoption, access to Internet through either broadband or mobile Internet, use of email services and self-reported computer literacy in the SMB players in the e-commerce sector indicating an overall posi... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Within the ekShop and ShopUp networks, 96 percent of SMBs reported having an email account, all respondents reported using a smartphone, 64 percent reported having access to a laptop or desktop computer and 99 percent of participants had access to Internet via broadband or mobile Internet connection. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
c. Rising social media usage The survey responses show a high level of social media usage: 80 percent are active on Facebook pages or in groups, 21 percent browse websites online, 12 percent use YouTube and 17 percent use Instagram (overlapping responses mean the percentages do not add up to 100 percent).
However, 21 ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
In the ekShop and ShopUp networks, 77 and 81 percent of participants respectively reported familiarity and active use of social media, own website or common Internet services.
This reinstates the first finding that the entrepreneurs had some knowledge of the platforms as they were using these for personal usage but th... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Survey Findings: Financial Literacy Snippet d. Higher levels of conceptual understanding than technical understanding Taking account of the definitions provided by the Organisation for Economic Co-operation and Development (OECD) and the Bill & Melinda Gates Foundation, the responses have been screened across four fund... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
While 69 percent and 88 percent Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 31 showed a basic understanding of interest and inflation rates, respectively, only 40 percent and 50 percent were able to do the calculations, indicating that respondents were somewha... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Basic division skills were evident in 82 percent of respondents and the same percentage of respondents showed that they understood the concept and importance of risk diversification.
e. Inadequate understanding of critical financial components Although there was a basic foundation of digital and financial literacy in ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
f. In some cases, higher levels of education did not translate to greater financial numeracy Within the ekShop network, 65 percent reported having achieved university-level education (women - 87 percent and men 52 percent).
However, only 13 percent of women and 47 percent of men were able to solve business finance pro... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Around 65 percent of women and 50 percent of the men could solve the basic business finance problems.
This finding reinstates the assumption that when applying financial knowledge to understand critical business situations, the respondents, regardless of their educational qualifications, mostly failed to do so. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
g. Awareness about financial services is high but usage is low On average, 67 percent of ekShop respondents and 70 percent of ShopUp respondents reported being aware of various financial services like pension funds, investment accounts, credit and debit cards, current and savings accounts, insurance and more while only... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
This low level of usage demonstrates the need for further intervention to accelerate the entrepreneurs’ formal financial activity.
h. Women have shown greater willingness to save and invest money On average, women have shown greater willingness to plan their financial activities, lower present bias (a behavioral proxy... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
Around 87 percent of women said that they actively, at least weekly, monitor their financial affairs which is 10 percent higher than men.
Eighty-two percent of women actively set long-term financial goals compared to 70 percent of men. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
While these responses are self-reported and therefore not conclusive in determining true differences between the financial literacy and awareness of men and women, it highlights a growing trend that women are increasingly becoming aware of the need to be financially literate, plan and actively manage their personal and... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
This also signals that further intervention to promote greater financial literacy will not only increase their business financial activity but also help them to scale up their businesses faster.
Digital financial literacy via e-commerce: Implications in Bangladesh, especially for women in business 32 | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756487976.pdf | https://bangladesh.un.org/en/download/123529/212331 |
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT SMEGA – Accounting and Financial Reporting Guidelines for Small and Medium-sized Enterprises Level 3 Guidance UNITED NATIONS New York and Geneva, 2009 SMEGA – Level 3 ii Note Symbols of United Nations documents are composed of capital letters combined with figures.
Me... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
A copy of the publication containing the quotation or reprint should be sent to the UNCTAD secretariat.
UNCTAD/DIAE/ED/2009/2 UNITED NATIONS PUBLICATION Sales No. | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
E.09.II.D.3 ISBN 978-92-1-112764-5 SMEGA – Level 3 iii Contents Page Preface ............................................................................................ iv Acknowledgements ........................................................................ vi Introduction ............................................ | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
Model financial statements.................................................. 9 Annex I.
Model balance sheet ........................................................ 11 Annex II.
Model income statement format..................................... 12 Annex III.
Model income statement ...................................... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
Model cash flow statement....................................... 14 SMEGA – Level 3 iv Preface At its seventeenth session, in July 2000, the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) identified a number of obstacles that small and medium- sized enterprises ... | https://docs-lawep.s3.us-east-2.amazonaws.com/1696756513967.pdf | https://digitallibrary.un.org/record/653160/files/diaeed20092_en.pdf |
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