Entrepreneurship development
The SME sector
can play an effective role to economic progress, employment generation and poverty reduction in the country
Development of entrepreneurship particularly by women through small and medium enterprises (SME) financing should receive more impetus for accelerating the growth of countrys economy both at both rural and urban areas. This was pertinently expressed by Md Awal Khan, Managing Director of Rajshahi Krishi Unnayan Bank (RAKUB) in Rajshahi recently.
There is no denying the fact that remittances sent by Bangladeshis working abroad and the RMG sector are the main pillars of Bangladesh economy. RMG sector has generated employments for millions of people, including a huge number of female workers. Majority of the garment units have been brought under compliance according to the international buyers and the workers of the garment factories are getting reasonable wages.
The present government is striving for industrialization in the country but much more should be done. The entrepreneurs of the country are going ahead defying various problems confronting them and are making significant contributions to the countrys economy in recent times. This is an encouraging sign. Proper education, business acumen and managerial skills are helping them to go ahead. They are contributing positively to GDP growth and solving the unemployment problem to some extent.
What is needed is adequate government patronage. For starting a business, capital is the main thing. Bank loan can help an entrepreneur to go ahead with his/her business. Since high bank interest rate impedes the progress of an establishment, lowering of the same can help the entrepreneurs. A congenial climate for investment should be created in the country for attracting entrepreneurs. Scores of Bangladeshis are living in different countries of the world. They can be encouraged to invest in the country. Government, various trade bodies like FBCCI, BGMEA, BKMEA and various NGOs can play their respective roles in this regard.
Law and order situation of the country should be improved further besides ensuring political stability. Besides, all other conditions including supply of adequate electricity and gas should be ensured. Only then the entrepreneurs would feel encouraged to invest in their native country.
There is enormous significance of more development of entrepreneurship and increased financing to the SME sector. Field level bankers have a vital role to promote the promising sector. The SME sector can play an effective role to economic progress, employment generation and poverty reduction in the country.
