|Posted : 07 Jan, 2016 21:47:01
Institutional complexity 'major barrier' to SMEs' growth
FE Online Report
Speakers at a discussion meeting on Thursday said ‘institutional complexity’ is one of the major impediments to the growth of the country’s small and medium enterprises (SMEs), even though it plays a significant role in socio-economic development.
Currently, entrepreneurs have to face around 50 organisations for getting approval for doing SME business while many developed countries that have achieved success in the sector need only a few agencies for the purposes, they observed.
Young Entrepreneurs Association for SMEs (YEAS) and Institute of Mutual Information (IMI) jointly organised the discussion meeting titled “Bet on small business to achieve SDG’s target in Bangladesh” at the Daily Star conference room in the capital.
Dr Nazia Mintz-Habib, senior faculty of the University of Cambridge, UK, spoke on the occasion as the keynote speaker.
Bangladesh Accreditation Board (BAB) director general Md Abu Abdullah attended the programme as the chief guest while Dhaka Ahsania Mission director (communications and public relations) Kazi Ali Reza and head of UNIDO operations in Bangladesh Zaki Uz Zaman as the special guests.
Terming brain-drain an obstacle to development of a country, Dr Nazia said it is essential to bring back Bangladeshi professionals from abroad by providing them with suitable opportunity.
Dr Nazia, also the global adviser of UN’s Sustainable Development Goal (SDG) programme, encouraged the young entrepreneurs to make the best use of information technology to connect experts and stakeholders of relevant field. Saif.email@example.com.
-cleared by Nilufer