During a recent workshop, small and medium enterprises (SME) entrepreneurs underscored the critical need for anti-corruption measures and supportive policies to enhance the growth of their sector. They expressed concerns over the adverse impacts of corruption on their business operations, which they claim significantly hinder investment and the emergence of new entrepreneurial ventures in Bangladesh.
The workshop, organised by the independent think-tank Center for Governance Studies (CGS) in partnership with the Washington-based Centre for International Private Enterprises, took place at the Royal Raj Hotel and Condominium in Rajshahi. It gathered participants from various segments of the SME sector in the Rajshahi division to discuss the challenges faced by entrepreneurs and to identify potential solutions for promoting good governance.
Zillur Rahman, director of CGS, acknowledged the obstacles that Bangladesh faces as a developing country, particularly stressing the SME sector’s struggle with insufficient education and training. He noted that these shortcomings often leave entrepreneurs ill-equipped to navigate essential business processes effectively.
In response to these challenges, CGS is in the process of creating a “Good Governance Toolkit.” This resource, which will incorporate insights from experts, business leaders, and SME entrepreneurs, aims to streamline complex procedures. The toolkit will cover topics such as trade licenses, online business operations, letters of credit, and strategies for enhancing transparency and accountability.
Entrepreneurs at the workshop also highlighted the difficulties in acquiring essential business documents, including trade licenses and bank accounts. They urged for the toolkit to offer guidance on securing low-interest loans, especially for online businesses, which are becoming increasingly important in the modern economy. Additionally, they proposed the development of a bank loan policy specifically tailored to online enterprises and called for the establishment of a reliable courier service with product compensation guarantees to bolster e-commerce growth.
Participants stressed the pressing need for a unified anti-corruption platform to advocate for policy reforms that favor SMEs. One entrepreneur emphasised that members of this platform should exemplify transparency and fairness in their business dealings.
The textile and ready-made garment (RMG) sector, a significant contributor to Bangladesh’s economy, stands to benefit from these proposed measures. By tackling corruption and fostering a supportive policy environment, the RMG sector could see improved access to financing and streamlined processes, ultimately enhancing production efficiency and competitiveness in global markets.
