Report on the implementation of
the Entrepreneurship Action Plan
A European Commission Entrepreneurship action plan
based Action profile for Bangladesh

Course Name: Entrepreneurship Development

Course code no. BA-305

Submitted To:

Mr. Nur Alam

Assistant professor
Business Administration Discipline
Khulna University

Submitted By:

MD. Atoa Rabbi ID No. 050309

MD. Azharul Islam ID No. 050316
Sabuz Saha Rony ID No. 050344
MD. Noor Hossain ID No. 050348
MD. Kamrul Hasan Noor ID No. 050350
Deb Prosad Roy ID No. 040338
rd st
3 year 1 term
Business Administration Discipline
Khulna University

15.01.2008
January 15, 2008
Mr. Nur Alam
Assistant Professor
Business Administration Discipline
Khulna University
 

Dear Sir:

Subject: Submission of a report.

With due regards and respect we state that we are very thankful to you as you assigned us
this report on ‘‘An Eouropean Commission Entrepreneurship action plan based Action
profile for Bangladesh”. It is a great opportunity for us to acquire theoretical and practical
knowledge about entrepreneurship and implementation of entrepreneurship action plan on
the Bangladesh perspective. We have tried out best to gather what we believe to be the most
complete information available.

Your kind acceptance and any type of appreciation would surely inspire us. We would
always be available and ready to explain further any of the context of the whenever asked.

Sincerely yours,

..........................................
MD. Atoa Rabbi ID: 050309

..........................................
MD. Azharul Islam ID: 050316

…………………………..
Sabuz Saha Rony ID: 050344

..........................................
MD. Noor Hossain ID: 050348

.........................................
MD. Kamrul Hasan Noor ID: 050350

………………………….
Deb Prosad Roy ID: 040338

II
 Acknowledgement
 

In any comprehensive work, like this, credit must go to the multitude of people. We are still
students and just novice. Hence, we have taken help from different people for preparing our
report. Now here is a petite effort to show our deep graduate to those helpful people.

First, we commit ourselves grateful to Allah for his unlimited kindness and maximum
helpful hand in continuing our report preparation.

We express our sincere gratitude to our honorable course teacher, Mr. Nur Alam,
Assistant Professor, Business Administration Discipline, Khulna University, Khulna, for his
guidance and valuable remark about the convention of the report.

III
 TABLE OF CONTENTENTS
Foreword .............................................................................................................................II
Preface .............................................................................................................................. III
Executive Summary .......................................................................................................... VI
Chapter 1: Introduction
1.1: Background of the Study ............................................................................ 8
1.2: Rational of the Study .................................................................................. 8
1.3: Objective of the Study ................................................................................ 8
1.4: Scope of the Study ...................................................................................... 9
1.5: Limitations of the Study ............................................................................. 9
1.6: Methods .................................................................................................... 10
1.7: Report Preview ......................................................................................... 10
Chapter 2: Entrepreneurship
2.1: Entrepreneurship ...................................................................................... 12

2.2: Entrepreneurship condition in Bangladesh .......................................... 12

Chapter 3: The implementation of entrepreneurship action plan

3.1: Significant achievement ........................................................................... 14

3.2: More about the result ................................................................................ 16
Chapter 4: Strategic Area One: Fuelling entrepreneurial mindsets and practice
4.1: Fostering entrepreneurial mindsets through stimulatory activities .......... 18
Chapter 5: Strategic Area Two: Encouraging more people to become entrepreneurs
5.1: Reducing the stigma of business failure ................................................... 20
5.2: Facilitating the transfer of businesses ...................................................... 20
5.3: Improving social security of small business owners ................................ 20
Chapter 6: Strategic Area Three: Gearing entrepreneurs for growth &
competitiveness
6.1: Tailor-made support for women and ethnic minorities ............................ 22
6.2: Facilitating SMEs’ business co-operation in the internal market............. 24
6.3: Fostering innovative clusters .................................................................... 24
Chapter 7: Strategic Area Four: Improving the flow of finance
7.1: More equity and stronger balance sheets .................................................. 26
Chapter 8: Strategic Area Five: Creating a more SME-friendly regulatory and
administrative framework
8.1: Listening to SMEs .................................................................................... 28

BIBLIOGRAPHY ......................................................................................
 EXECUTIVE SUMMARY

This report is a pathway to move from the entrepreneurial events of Bangladesh that
happened by do not five years ago and that focus on upcoming after five years. The
first past briefly deposit the entrepreneurship events of lest five years. The success
and impacts of entrepreneurship on our economy. Later past focus on key action area
for the successful entrepreneurial status in the country.

VI
 

CHAPTER 1
INTRODUCTION

 
 

1.1: Background of the Study

The practice of entrepreneurship reveals the entrepreneurs are performing well in their
ventures in different phases of the operation. The pioneering role of entrepreneurship in
changing an economy towards and development are well recognized in the economy. As a
part of BBA program, our Entrepreneurship Development course teacher Mr. Nur Alam
assigned us to prepare a report development a European commission entrepreneurship
action plan based action profile for Bangladesh. We have prepared our report on January 13,
2008 which will be submitted by January 14, 2008.

1.2 Rational of the study

We are 3rd year 1st semester students. After one and half year, we will be going to job
market and competing with other universities’ graduates for getting a suitable job. For
getting an expected job, we need to concern about job market condition from today. We
have to come forward with energetic, determined and innovative idea. Our academic
program prepares us as an innovative person who will always comes with new idea,
revolutionary thought that motivate us to introduce a new venture. We focus on expected
job that is not mean about work under others. We focus on our creativity. After graduation
we all the BBA graduate come with a new venture. But we have to know the government
policy on the entrepreneurship action plan and other supportive condition. That make easier
to create an amazing venture.

1.3: Objective of the Study

We have prepared this report based on two purposes. That are-

1.3.1 Primary Objective: 

The report aims to provide information on the implementation of the entrepreneurship

action plan in Bangladesh. 

1.3.2 Secondary Objective:

To achieve this prime objective, there are some other objectives, which put down 
below‐ 

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a) To know the current economic condition in Bangladesh.

b) To view the achievement of entrepreneurship in Bangladesh.
c) To gather practical knowledge about fueling sector in our economy.
d) To point out the future and benefit of entrepreneurship development.

1.4: Scope of the Study

There is a certain boundary to cover this report. Our particular report only covers
entrepreneurship action plan in Bangladesh. We discuss very shortly in our present
economy condition and economic activities. We mainly point out the thrust sector in our
economy and procedure how to capture the opportunity through developing the
entrepreneurship action plan. Our report is prepared only based on data that collected from
internet, publication and journal. Other sources are not available for us.

1.5: Limitations of the Study

We are lucky enough to get a chance to prepare a report on “The implementation of

entrepreneurship action plan in Bangladesh” We tried heart & soul to prepare a well-
informed report. But unfortunately we faced some difficulties when preparing this report.
We tried to overcome the difficulties. In spite of trying our level best, some difficulties that
hamper our schedule report work:

1.5.1 Shortage of time:

Within a short time, we need to prepare some other courses’ reports for in this session.
For this reason, we could not get a fluent time schedule for the report.

1.5.2 Limitation of supporting tools:

Internet is the major one way of collecting necessary data. Other sources are not so
available for us. But internet service is not always available in our local town, Khulna.
Most of the time, we suffered for server disconnection as well as load shedding. 

1.5.3 Difficulty in collecting data:

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Our required data are not available in internet. So we are sorry to say that we can’t
include all sort of necessity data that data presentation make our report more
resourceful.

1.6: Methods

For making any report most of the data should be taken that reflect actual situation. For our
report we have collected various data from various sources. But in this report we are fully
depend on only the secondary sources, we do not collect data from primary sources. The
secondary sources from where we collect data and prepare our report:

• Internet

• Prominent Report

• Journal

1.7: Report Preview

In the following pages, the report is prepared for the practical knowledge about the
implementation of entrepreneurship action plan in Bangladesh. First we draw an overall
entrepreneurship condition in Bangladesh. Then, we try to point out the procedures of
fuelling entrepreneurial mindsets and encouraging people become as an entrepreneur. After
that we identify the supporting tools that gear entrepreneurship growth straightforwardly.
And finally we dream a ‘Dream Bangladesh’ after accomplishing the entrepreneurship
action plan.

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CHAPTER 2
INTRODUCTION ON ETREPRENEURSHIP

 
 

2.1 Definition of entrepreneurship

Entrepreneurship is an important ingredient that forces the economic growth of a

developing country. It is a precondition for sustained economic development.

Many scholars and researchers have defined the entrepreneurship. Economist R Cantillon is
the pioneer in this field. In his definition, the main features of entrepreneurship are
identified as risk taking and action orientation.

Famous writer Peter Kilby focused any type of economic activity as entrepreneurship and
anybody engaged in these activities as an entrepreneur.

One of the eminent scholars J.J. Kao pointed entrepreneurship as adventurism, adrenalin
addition risk taking and thrill seeking.

So we conclude that entrepreneurship accomplish with risk taking and innovative venture.
An entrepreneur creates the forces of change and utilizes the same in accelerating the
socioeconomic value-addition of a country through resource utilization, employment
generation, capital accumulation and industrialization.

2.2 Entrepreneurship condition in Bangladesh

Bangladesh is a developing nation but industrially it is still underdeveloped. The country is

going through a transition with respect to economic development. Right at this moment
Bangladesh enjoys a remarkable success in macro-economic management as demonstrated
by increased tax revenues, fading fiscal and current account imbalances and stability in
price level.

Bangladesh about 2 million people are engaged in Small Scale Enterprises (SSEs), which is
about 78% of the total industrial work forces and contribution 75% of industrial sector.
SSEs provide a major share of employment of the country.

12 

 
 

CHAPTER 3
THE IMPLEMENTATION OF ENTREPRENEURSHIP
ACTION PLAN

 
 

3.1 Significant achievement:

 
In last five years (2003-2008) entrepreneurship activities has been boosted in Bangladesh. It has
gradually increased in our economy. The entrepreneurial development performance was a result
of effort generated from various department of our economy.

The sectors are described with their respective affect below:

1. Increased population with increased consumption need

Population of our country has changed dramatically in last years. During the past five
years it resulted from 15 crore to 17 crore. Per capita income and Consumption has
increased too. Such increase made needs of more goods and products.

2. Expansion of Entrepreneurial and small business concept among people

The Least Developed Countries (LDCs) in the east have started refocusing their attention
on SMEs to enhance their role in bringing about structural changes in their economies.
For Bangladesh SMEs have assumed special significance for poverty reduction
programmes and potential contribution to the overall industrial and economic growth.

The latest BSCIC estimates suggest that there are currently 55,916 small industries and
511,612 cottage industries excluding handlooms. Including handlooms, the number of
cottage units shoots upto 600,000 units indicating numerical superabundance of the SCIs
in Bangladesh. Quoting informal Planning Commission estimates, the SMDF puts the
number of medium enterprises (Undefined) to be around 20,000 and that of SCIs to be
between 100,000 to 150,000.

This wide variation in the BSCIC and Planning Commission estimates of the numerical,
size of the SMEs might be due to at least two reasons: (a) different set of definitions of
the SMEs and (b) different coverage of SME families. This strongly suggests the need for
adopting and using an uniform set of definitions for SMEs by all Government agencies to
help formulation of pro-active SME promotion policies.

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Despite data limitations some rough indications may be provided regarding the trend of
SME sector growth as presented the Table 1.
Table 1
Growth of SSIs sector (Excluding Handlooms) in Bangladesh
Year  No. of Units  Employment  Value Added (TK.)
Small and Cottage
Combined 
Small Cottage Small Cottage

1981  24590  321743  322110  855200  17987 

1991  38294  405476  523472  1331032  21154 
2001 (end of
55916  511621  808959  166724  29323 
June) 
Average
Annual
6.36 2.95  7.55  4.73  3.15 
Growth Rate
 
(% change) 

In terms of number of establishment, the SME sub-sector has exhibited notable

dynamism, registering reasonably high growth rates over the decades of 1980s and 1990s.
This numerical expansion of the SMEs has contributed towards substantial new business
creation in the industrial economy of Bangladesh. Available evidence suggests that the
SMEs were responsible for giving birth to 60 percent of the new industrial enterprises
during 1980s. Growth in SME employment seems to have been even better during the
same period.  
 
3. Increase of educated people with their verities need

Today more people are educated they are now with more need of various types of goods,
services and products. Increase in consumption items let number of business to borne. As
a result entrepreneurial ventures have emerged all over the country.

4. Standardised entrepreneurial practice and policy tools

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Because of its importance Government has took steps to standardize the policy tools over
time regarding small business and industries. By the recent past the ministries, the
different board and industries has made the situation very much favourable to
entrepreneurial development.
And the others are:
5. Involvement of energetic young generation in various small businesses.
6. Advancement of information technology and telecommunication
7. Advanced modern living concept
8. Foreign direct investment and remittance
9. Expanded international trade both export and import

3.2 Goal setting for the coming five years:

Any influencing plan that will bring change in expected way the total economy needs time. And
for an entrepreneurial development action plan needs obviously time. We assumed for a 5 year
project that will ensure a world level entrepreneurial performance in Bangladesh economy. Our
expected actions will follow the three steps entrepreneurship action plan proposed by many
modern entrepreneurship writers.

Supporting activities:

• Registration of the business enterprise

• Arranging finance

• Providing production facilities

• Counsel and guidance for boating machinery and tools

• Supply of scarce raw materials through syndicate formation

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17 

 
 

CHAPTER 4
STRATEGIC AREA ONE: FUELLING ENTREPRENEURIAL
MINDSETS AND PRACTICES

 
 

4.1 Fostering entrepreneurial mindsets through stimulatory activities

Entrepreneurship action can be more effective by taking some stimulatory activities
which are:

• Entrepreneurial education

• Planned publicity

• Help and guidance in selecting product and project report

• Making available techno economic information regarding product and profit

• Availability of local agencies with trained personnel for entrepreneurial counselling and
promotion

• Organizing entrepreneurial forum

18 

 
 

CHAPTER 5
STRATEGIC AREA TWO: ENCOURAGING MORE
PEOPLE TO BECOME ENTREPRENEURS

 
 

Encouraging more people to become entrepreneurs is a fruitful action to implement the

entrepreneurship action plan. We point out some action which is needed to accomplish this
job perfectly that is:

o Identification of potential entrepreneurs

o Developing locally suitable new products and processes

o Motivational training to new entrepreneurs

More over, entrepreneur action plan procedures need to take some effective activities those
are:

5.1. Reducing the stigma of business failure:

Entrepreneurship means a venture with risk. So it’s likely that many of the entrepreneurs
would fail. They will loose their capital. However if there is no protection, measure for
them surely economy will be looser. In this stage government should ease the stigma of
failure. In our plan we propose such a fund and insurance protection to immediately fill up
the accident or failure cost of any entrepreneurs projects.

5.2. Facilitating the transfer of businesses:

Transfer of business refers the removal or withdrawal of investment from a particular

business to another one and to another place or another segment. However in coming future
business structure should be formed in such a way that one can easily transfer his business
to new area or new field.

5.3. Improving social security of small business owners:

Owners of small business owners in our country are often unsecured both economically and
physically. We propose to create a better security of law and order as well insurance system
and protection against socio political conflicts or calamity affect.
 

20 

 
 CHAPTER 6
STRATEGIC AREA THREE: GEARING
ENTREPRENEURS FOR GROWTH AND
COMPETITIVENESS
6.1 Support for women and ethnic minorities:

6.1.1 Credit for women

Governmental and NGO programmes which provide collateral free loans have assumed
tremendous importance in providing credit to poor women in Bangladesh. A few examples
are:

1. The Bangladesh Rural Development Board's Women's Programme covers 190

thanas and has provided credit to 100,830 members through 5,915 societies. 200
million Tk. was disbursed in 1996 of which 120 million was from the bank and 80
million from the women's savings (up to end 1996).
2. The Palli Karma Shahayak Foundation (PKSF) has disbursed about 600 million Tk.
through 100 NGOs, which has reached 167,027 women and 22,293 men (up to June,
1994).
3. The Bangladesh Rural Advancement Committee (BRAC) has disbursed a
cumulative amount of 11,714 million through 4.25 million Tk. loans to 45,542
women and 3,364 men (up to June 1996).
4. Grameen Bank (GB) has disbursed a cumulative amount of Tk 65,509.8 million to
1,937,348 women (as of December 1996).
5. The Association for Social Advancement (ASA) has disbursed a cumulative amount
of 3,411 million Tk. 495,423 women and 348 men as of June 1996.
6. Women's Entrepreneurship Development Programme (WEDP) The objective is to
develop women as entrepreneurs by providing them training and credit facilities to
establish small scale manufacturing and service units. The project has so far assisted
thousands women entrepreneurs to set up independent business enterprises.

6.1.2 Employment for Rural Women

Several ministries of have programmes targeting rural women and employment. Below is a
sample of the activities in this area.
22 

 
 a. The Agro-Based Development Programme for Women aims at developing women's
skills in poultry raising, vegetable cultivation and small scale fisheries through
practical training. Women are also given training in family planning, literacy, child
care, health and nutrition etc. and credit support for income generating activities.
The programme is implemented by the Department of Women's Affairs.

b. The Rural Maintenance Programme employs over 50,000 rural women to maintain
60,000 miles of earthen roads. In the programme, women are employed as labourers
and supervisors for a period four years, during which they are given training and
assistance for self-employment after completion of the contract. Implemented by the
Local Government Engineering Department, in collaboration with CARE
International and Union Parishads, the programme has contributed to improved rural
communication and marketing.

c. The Population Control Through Women's Cooperative project began in 1974 to

develop rural women's cooperatives. The project, implemented through the
Bangladesh Rural Development Board, offers family planning motivation and
services integrated with income generation activities. Ten training cum production
centres have been established to develop women's vocational skills, where women
cooperative leaders are trained at thana (sub-district) level, and then act as trainers
for their group members. By 1992, the project covered over 3,000 women's
cooperative societies.

d. Started in 1975, and popularly known as the "Mothers' Club", the Use of Rural
Mother's Centres for Population Activities project integrates population activities
with human development efforts. The project involves women in self-employment
activities and seeks motivate women towards establishing a small family norm. Skill
development training to help women develop self-employment opportunities,
functional education on maternal and child care, nutrition and family planning are all
integrated parts of the project, which is administered by the Ministry of Social
Service.

23 

 
6.2 Facilitating SMEs’ business co-operation

SME’s may include barber, pizza shop, small scale production unit for pizza, small factory,
medium cottage industry, small flat service company, transportation vehicle parts, knitting,
cutting, sewing industry and such many things. However we propose Govt. will increase
assistance in such EPZ’s, BSCIC’s across the country.

6.3 Fostering innovative clusters

Innovative cluster means entrepreneurship companies under a cluster who are working in
various fields at a time. In Bangladesh such clusters are –

o Destiny group of industries.

o Jamuna Gruoup,
o Amin Mohammedia group,
o Bosundhara Group
o BSB Consultant Groups
o Akij Group
o BRB Cables

Such clusters create huge employment option in the economy. They increase the finance
flow in the economy.
 

24 

 
 

CHAPTER 7
IMPROVING THE FLOW OF FINANCE

 
 

7.1. More equity and stronger balance sheet:

A country’s balance sheet is the measure of its financial strengths. Equity and balance is
stronger, and then the entire country gets more stability in currency value, international exchange
and trade activities and such.

Both equity and growth being of concern to the Government, the priority is to accelerate GDP
growth in a pro-poor manner from the present 5.5 percent to 8-10 per cent. Agriculture, besides
being the mainstay of the economy, is also important for increasing employment and reducing
poverty. The contribution of agriculture and fisheries to the GDP in 2003-04 was 22.83 per cent
at 1995-96 constant prices (crop 12.98 per cent. livestock 2.90 per cent, forestry 1.84 percent,
and fisheries 5.15 per cent) while they provided over 72 percent of the total employment.
Correspondingly, the manufacturing contribution to GDP in 2003-04 was 16.25 per cent
accounting for only 5.4 percent of the total employment. Whether to achieve the committed
Millennium Development Goals (MOGs) of 2015 or the targets of the National Strategy for
Economic Growth, Poverty Reduction and Social Development, commonly known as the
Poverty Reduction Strategy Paper (PRSP), the development process of Bangladesh must
strive to expand employment creation opportunities very rapidly. The scope of additional
absorption of labour in agriculture being somewhat limited, the best potential for this lies in the
manufacturing sector. Inspite of droughts, floods, cyclones and various other natural or
management related disasters, the agricultural sector of the country has performed well and has
enabled the country to be self-sufficient in food; the growth of the services sector has also been
fairly robust. It is the manufacturing sector's contribution to the GDP that has remained nearly
stagnant at around 15 per cent and its growth rate at 7.41 percent (estimated values of 2003-04 at
1995-96 constant prices)

For the fiscal year 2004-2005, the erstwhile 4-tier duty structure of 7.5, 15, 22.5 and 30 percent
has been cut down to 3 tiers, 7.5, 15 and 25 per cent, the weighted average being 16.44 percent.
According to the budget speech of the Finance Minister, this would cause an estimated
Bangladesh taka (BDT) 11 billion (USS 186 million) loss of revenue to the government; but
there are no estimates yet about likely losses to the domestic trade and economy of the country

27 

 
 

from the flood of imported consumer and industrial products - cosmetics and toiletries, food and
beverages, textiles and apparels, footwear and leather goods, chemicals and pharmaceuticals,
light engineering products, machine tools, hand tools and so on. All these products (all under the
SME category, and the rate at which the glittering multistoried shopping malls are springing up
in Dhaka and other major cities of the country is perhaps a good indicator of the rate of
displacement of domestic products by imported merchandise. Although some producers have
been successful in improving their products and significantly increasing external market access,
most are languishing.

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CHAPTER 8
STRATEGIC AREA FIVE: CREATING A MORE
SME-FRIENDLY REGULATORY AND
ADMINISTRATIVE FRAMEWORK
 

 
 

8.1: Listening to SMEs  

SME friendly regulatory and administrative framework is another vital thing we propose to
include for the next ten years entrepreneurship action plan

Today’s business world is more dynamic and time is important here. License providing
should be done with utmost efficiency. Recent example made by the govt. Is a license
,making within 24 hours in Chittagong is obviously a big example of success. In coming
year’s updated technology will turn things faster.

It would be a good idea to extend assistance to the existing and prospective entrepreneurs in
the SMEs sector, focussing on the thrust sectors identified by the government as likely to
have both better growth prospects as well as some comparative or competitive advantage for
Bangladesh. The promised assistance for SMEs in the industrial policy as well as in the
Export Policy have yet to specifically address many technical matters, without which the
capacity for production of competitive goods cannot be developed. While it will not be
possible to itemize all the issues and their implications in this short article, we cannot omit
mentioning some of the more important matters, such as:
• Selection, acquisition and application of the appropriate technology for production
that would enable production of goods of competitive quality and competitive price,
main taining optimum productivity, while environmentally not injurious. It would be
important to determine the correct balance between labour-intensive and capital-
intensive processes for achieving the required productivity and quality.
• Compliance with Quality Assurance and environmental friendliness standards,
through adoption of TOM, ISO 9000, ISO 14000, etc., and necessary training for
practicing these.
• Bangladeshi workmen are extremely good at acquiring production skills to high
degrees of tolerance, and are capable of production by copying samples. But, due to
limitations in education, skill and technical knowledge, they are unable to produce
goods from blueprints and drawings, adhering to the standard specifications. This
deficiency has to be removed quickly by establishing appropriate training and skill
development facilities.

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• Many countries developed their SMEs by copying products from other countries, but
this is no longer possible under WTO rules for Intellectual Property Rights (IPR). It
is therefore, essential that indigenous R&D capabilities are developed quickly.
• Most manufacturing processes are today electronically controlled. Hence, adequate
skill has to be developed for using and maintaining electronic components and
control devices.
• Institutional facilities are needed for entrepreneurship development, including
particularly capturing the high entrepreneurial ability of the women of Bangladesh.
• SMEs must have logical linkages between micro-enterprises below and large
industries above them. Their notional hierarchical relationships should be well
recognized and made use of. An efficient subcontracting culture has to be
developed, and well functioning regulatory regimes should be put in place so that
the network among the subcontracting firms work efficiently. The culture of
respecting the needs of these contracting parties, following JIT (Just In Time)
systems has to be adequately developed and faithfully practised.
• Most potential investors in the SME sector today are not entrepreneurs in the real
sense, inasmuch as they do not have an already developed capability to decide on
viable investment avenues, develop project profiles and set up appropriate
establishments for production, management and marketing. Free technical assistance
will have to be provided to them for accessing information, and developing bankable
project proposals in the sectors in which they might have knowledge, preference and
perhaps some experience and expertise. Similar assistance will also he needed to
meet the various compliance issues under WTO rules.
• Prospective investors would have to be given all kinds of facilities for getting started
in an unreserved manner and without any kind of hassle. They should be subject to a
minimum of regulations in the beginning, except perhaps registration of the unit
with relevant business Associations and/or Chambers of Industries, complying with
the rules for Registration of the company under the relevant law and Board of
Investment (BOI), and submitting annual reports about their product and marketing.
Financing them should not require initially any physical collateral other than their
factory establishment. They should have sufficiently long moratoria from different

29 

 
 

kinds of taxes, VAT and others levies, and they should be given protection against
non-official extortionists as well.
• Designated financial institutions should not only be encouraged but also be helped to
develop expertise in industrial financing, technology assessment and acquisition of
relevant sectoral knowledge, as well as capability of working with clients so that
project finance by them can be successfully implemented, overcoming all the usual
bottlenecks experienced from sources of financing.

30 

 
 BIBLIOGRAPHY

Reference Book:

Z Mamun Muhammad & Islam Nazrul, Entrepreneurship Development An operational

approach, 1st edition, The university press limited, Dhaka, 2000

Report:

‘An approach analysis of Micro Enterprise in Bangladesh’ Chowdhury Mahbubul Alam and
Kazuhiro Miyagi, Department of international Studies, Hagi International University.

‘Poverty in Bangladesh: Building on Progress’, Poverty Reduction and Economic

Management Sector Unit, South Asia Region, World Bank

‘Bangladesh 2015: Achievements and Future Challenges, Power and Participation Research
Centre’, Dhaka, Bangladesh (PPRC), March 2006

‘SMEs in Bangladesh’, Abdul Awal Mintoo

‘The small and medium enterprises (SME) in Bangladesh: an overview of

The current status’, Dr. Momtaz Uddin Ahmed, Vice chancellor State university of
Bangladesh

Internet site:

www.bangladeshinfo.com
www.bbc.co.uk
www.dhakachamber.com
www.state.gov
www.ssrn.com
www.thedailystar.net

  

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