Entrepreneurs Promote Eco Friendly Areca Leaf Crockery

Pollution in the Balutikar canal in Sylhet has worsened due to untreated wastewater from factories in the Bangladesh Small and Cottage Industries Corporation (BSCIC) estates. Among 173 factories that discharge liquid waste, 10 have no effluent treatment plants (ETPs).

A study by the SME Foundation reveals that 57 percent of small and medium enterprises (SMEs) find Bangladesh's tax structure the most significant hurdle to conducting business lawfully, followed by issues with trade licence renewal (54 percent), trade licence costs (51 percent), and complex regulations (44 percent).

Bangladesh's cottage, micro, small, and medium enterprises (CMSMEs), which generate 85% of employment in the informal sector, face a production downturn, affecting job creation and the larger economy. Official data on November 23, 2024, revealed a decline in CMSME production growth, with FY 2023-24 recording only 5.07%, down from 15.39% in FY 2021-22 and 9.03% in FY 2022-23.

Small and medium enterprises (SMEs) in Bangladesh face severe hardships due to prolonged political uncertainty, soaring inflation, and rising loan interest rates. The resignation of the prime minister on August 5, 2024, and the subsequent takeover by an interim government on August 8 added to the instability.

The Dhaka Chamber of Commerce and Industry (DCCI) has proposed increasing the loan limit for cottage, small, and medium enterprises (CSMEs) led by female entrepreneurs from Tk 50 lakh to Tk 2 crore. DCCI President Ashraf Ahmed highlighted that women entrepreneurs often have limited personal wealth, making it challenging to secure substantial loans due to insufficient collateral and documentation issues.

The slow implementation of Bangladesh's SME Policy 2019 is attributed to insufficient funding and poor coordination among organizations, according to Ashraf Ahmed, president of the DCCI. He called for the policy to align with industrial goals and be included in budget planning.