Page 75 - IBT December 2020

as millions of people; owners,
The hardest-hit part of the
general population due to
coronavirus is surely among the
low-income. A very large part of
Bangladesh’s economy is run
by small traders: Tea stalls,
grocery stores, roadside snack
vendors, sellers of utensils and
household equipment,
wandering vendors alongside
numerous small trading
enterprises. Their capital share
might be small, but they play a
vital role in the economy. For
one, they provide cheap but
essential goods and services
that are cost-efficient and
affordable by the
lower-middle-class section.
Bangladesh gained the status of
a lower middle-income country
in 2015. In that process,
employment rate, and human
development have largely
resulted from the small traders
employees, and their families
are dependent on these
businesses.
However, the pandemic stalled
economic activities around the
country and many of these
small traders are now cash
strapped. Their businesses have
been hit hard since they
couldn’t open their shops and
trading stores due to lockdown.
Besides, there had been a sharp
drop in the number of
customers and social
gatherings. Traditionally
roadside small traders have
played a crucial role in running
the economy, but most of the
pandemic related economic help
has been directed for the benefit
of large businesses, leaving a
gaping hole in the economic
wellbeing of a large part of the
population.
Understandably, small traders
are calling for collateral-free
loans. and these small traders
include many without a trade
license. Let’s have a look at this
demand.
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