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8 views4 pages

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asrafulalom20007
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F-commerce counts Tk1,200cr in losses

Md Samiur Rahman Sazzad


26 Jul 2024 21:30:30 | Update: 26 Jul 2024 21:30:30
The nationwide internet blackout that began on July 17 has severely impacted
online-based small businesses, leaving entrepreneurs and freelancers struggling
to cope with significant losses. Business owners are urgently calling on
authorities to restore cellular internet connectivity to help them recover.

Although broadband internet was restored on Wednesday, popular social media


platforms like Facebook, Instagram, and TikTok remain blocked by the state due to
the ongoing unrest created by miscreants under the guise of the quota reformation
movement.

This continued blockage has resulted in prolonged financial losses for Facebook-
based businesses, commonly known as f-commerce.

Insiders have reported that the ten-day internet blackout has resulted in a total daily
transaction loss of Tk 1,200 crore for the f-commerce sector, averaging Tk 120 crore
per day.

Additionally, entrepreneurs of this sector have incurred individual losses amounting


to Tk 30 crore. As a result, over half a million f-commerce entrepreneurs nationwide
are struggling to regain customers’ trust and ensure their businesses' survival.

State Minister for Posts, Telecommunications, and Information Technology Zunaid


Ahmed Palak on Wednesday expressed hope that the mobile internet services will
be restored by tomorrow or Monday.

The sufferings

Afia Munira, a university-going student and a homemaker, has a Facebook-based


cloud kitchen business. She faced considerable financial losses due to the enforced
internet shutdown.

"I run a small cloud kitchen where my mother prepares food items that we sell
through our Facebook page. My entire business relies on Facebook, but since July
17, there has been no mobile internet connectivity, and the broadband service was
shut down the following day.

"The internet was restored on Tuesday, but it was unstable. By Thursday, I regained
broadband access but still could not open my page because the government has
restricted Facebook, TikTok, and other apps. I feel helpless and face many
challenges in running my business and reconnecting with my customers."
Nabil Ahmed, owner of Kunja, a Facebook-based jewellery shop, shared his
condition saying, “When the movement started, both the orders and the delivery
system got disrupted. Customers complained over the phone that they did not receive
the parcel and we did not receive our pending money as well.

"I lost Tk 30,000 due to the protests. As a small f-commerce business owner, my
suppliers couldn't fulfil orders, creating a double blow."

Tk120cr a day

During the Covid-19 pandemic, e-commerce businesses surged in Bangladesh as


many organisations collapsed, resulting in the emergence of many new
entrepreneurs who sought to restart their lives, especially women and students. In
comparison to the pre-pandemic period, the growth of online sales increased by 70
to 80 per cent during Covid.

Of the 4,000,00 Facebook-based merchants, around 200 are associated with the E-
Commerce Association of Bangladesh (e-CAB). The facebook page owners can earn
between Tk 10,000 to Tk 1,00,000 on an average each month.

e-CAB Executive Director Jahangir Alam Shovon explained and painted a clear
picture saying, “The business of this sector has been completely closed. Some call-
based businesses did start on a limited scale but as Facebook remained closed, small
businesses were completely shut down.

“A meagre 15 per cent of the people have been able to re-start their business after
the internet outage while the rest are still struggling. Everyday transactions worth Tk
120 crore were facilitated through this sector which came to a halt as well,” he
continued.

"Fifteen per cent of all e-commerce businesses operate through Facebook, enabling
Tk 30 crore in daily transactions. Many people are facing cash shortages with these
operations halted. Additionally, banking transactions were closed for three
consecutive days, preventing any withdrawals.

"Small entrepreneurs will face the most trouble regarding restarting their businesses
and some may even be forced to shut down. Those dealing with perishable items
suffered the most. It will take at least a month for this sector to recover," Shovon
added.
However, the e-CAB executive director hopes that the situation would be resolved
soon.

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