Designed by: Hossain MD Sahal
Small and midsize enterprises (SMEs) play a pivotal role in every economy. SMEs give opportunities to entrepreneurs to let their innovative ideas come to life. SMEs also employ many people through inclusive growth while eradicating poverty in developing countries. Currently, in Bangladesh, 78 lakh SMEs employ about 2 crore employees. The estimate of SMEs contributing to the GDP is around 25%, linking the importance of their role in the economy. Alongside its importance, the sector needs to be nurtured appropriately for promising growth and survival in the future.
The Planning Minister has also highlighted the importance of SMEs, mentioning that they must be brought under the mainstream. Allowing young entrepreneurs and helping them build a better Bangladesh is the goal, leaving no one behind. Digital Bangladesh is now a reality, no longer a fantasy. Even though the economy has been growing exponentially, the SME sector has suffered incredibly due to the ongoing pandemic and restriction measures; there has been a lack of funds to invest in capital, along with being unable to pay taxes. After the lockdown, owners reopened their enterprises, but several have faced difficulties paying rent and utility bills.
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