Experiences of Restaurant Business in the Covid-19: Evidence From Rajshahi City, Bangladesh

Kuddus, Md Abdul; Rahman, Naima; Sarkar, Anusuya

doi:10.46281/bjmsr.v3i1.891

Cited by 4 publications

(2 citation statements)

References 3 publications

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“…Due to the fact that it is not profitable for traditional brick and mortar banks to open branches there, there is also a deficiency in the banking infrastructure and services. Government regulations and Fintech knowledge can improve financial inclusion in rural areas in order to address all of these issues (Kuddus et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Fintech-Based Financial Inclusion in Bangladesh

Datta

2024

IJFBS

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Financial inclusion, especially the adoption of fintech, has emerged as a crucial avenue for removing the financial access divides in developing countries, including Bangladesh. Following the comprehensive analysis, this article intends to outline Bangladesh's recent experiences with fintech-based financial inclusion, identify the short-comings and hence make policy suggestions. Being a descriptive research, cross-sectional and observational research approaches are applied for the explanatory analysis of secondary data. Results suggest an urban-rural gap in the implementation of digital financial services, with urban areas consistently having higher rates of fully online branches and a greater number of financial machines. Despite this, the sharp rise in the issuance of active cards is a positive sign suggesting an expansion of consumer base and an adoption of electronic modes of payment. Moreover, inter-bank electronic fund transfers and online banking have experienced increasing uptake, revealing a progressing trend towards digital transactions within the banking industry. Additionally, the study identifies a speedy growth in the number of mobile financial services accounts in both urban and rural areas. This study adds to the exchange of ideas regarding financial inclusion by carrying out a detailed study of Bangladesh's digital financial transformation, exemplifying the accomplishments, obstacles, and future research directions. It highlights the need for targeted policies and ongoing research efforts to build inclusive financial systems to serve the entire society’s interest. Nevertheless, the observations will have both theoretical and practical significance, contributing towards building capability in harnessing technology for sustainability, community uplifting, and shaping a brighter future.

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Section: Literature Reviewmentioning

confidence: 99%

Fintech-Based Financial Inclusion in Bangladesh

Datta

2024

IJFBS

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“…Cloud kitchen is a relatively new but rapidly becoming popular business concept system that is more or less a novelty in the Bangladesh restaurant and food delivery system (Nath et al, 2020). Food delivery service is a major partner component of the business model (Kuddus et al, 2021). This business model has already garnered lucrative success in the western markets and is now gaining more popularity day by day in Bangladesh, especially among the community of aspirant entrepreneurs.…”

Section: Introduction To the Issuementioning

confidence: 99%

A Study on the Prospect of the Cloud Kitchen Model in Dhaka

Khan¹,

Khan²,

Haque³

et al. 2022

IJBM

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This study looks at the prospect of the Cloud Kitchen Model (CKM) in Dhaka, Bangladesh. Cloud kitchen is a centralized commercial food production facility with no dine-in facility. The study first identified the existing perceptions and expectations of the critical stakeholders for whom the CKM can potentially bring competitive advantages over traditional brick-and-mortar-based models. The target audiences for this study are consumers of online food delivery systems, traditional restaurant owners, potential CKM restaurant owners, and industry experts. To perform this mix-method based study, the researchers conducted surveys along with Focused Group Discussions and In-depth Interviews targeted to various stakeholders such as consumers, restaurant owners, and industry experts besides utilizing secondary data sources. Most respondents know about cloud kitchens, and primarily most of them heard from social media, but mere knowledge of the CKM does not influence their ordered food preference. The only time consumers showed a greater preference for CKM over traditional brick-and-mortar models is when the comparison comes mostly in terms of price, quality, and packaging. As per the results of this study, for the restaurant ecosystem of Dhaka, CKM offers a narrow sales prospect for the next three years even though it offers Value Added Tax (VAT) benefits in general. Existing restaurant owners perceived immediate additional capital requirements, other than their available capital in hand for running their existing restaurants at the moment, as a barrier towards entering the cloud kitchen business and thus stopping the adoption of CKM in the next three years even though they are interested to initiate CKM. It is recommended that those who want to start a CKM business should proceed with a robust business model and can look for angel investors or venture capitalists to secure funds and add experts to the business while prioritizing their marketing activities. CKM-based restaurants should utilize social media platforms to build a positive brand image. Finally, CKM-based restaurants should focus on consumer needs through customized platforms (e.g., their own delivery media and websites) and emphasize employee retention through proper employee training and benefits.

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