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18 February, 2020 00:00 00 AM / LAST MODIFIED: 18 February, 2020 01:13:16 AM
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Entrepreneurial drives need to be encouraged

Entrepreneurial drives need to be encouraged

From a sociological perspective, one of the most powerful human instincts is to seek and secure a sense of security and this applies the most in the case of employment. For Bangladeshis, the decades after independence meant struggle to make ends meet and, in that rather challenging atmosphere, job security was the prime objective with most people opting for paid work rather than trying out something new.

While things have changed much and Bangladesh boats industries, entrepreneurs and innovators at all levels from commerce to education to sports, the traditional allure of the salaried service remains. However the prime minister’s recent call for more young people to be trained up in vocational skills plus an encouragement towards entrepreneurship will certainly work as a motivating factor. However, it has to be kept in mind that to inspire young people to attempt to do something new, the right facility has to be present. Though Bangladesh made a notable stride in the World Bank’s Ease of Doing Business ranking from 176 to 168 last year, the position is second lowest after Afghanistan which is 173.

Both Bhutan and Nepal are within the first hundred with positions, 89 and 94 respectively. This indicates that starting up a business is still a complicated process in Bangladesh and unless the procedure is simplified more, the young will not feel a desire to become entrepreneurs. The government had earlier allocated Tk. 5 crore for MPhil and PhD students which has currently been increased to Tk. 10 crore.

This is encouraging though the option for research work has to be opened to students by all universities. Bangladesh has seen the rise of a variety of industries including garment, ship building, cement, steel, leather and medicines but getting SME loans is still difficult for many young people willing to try something new. Lest we forget, new ideas and ventures often fizzle out and one in ten or a hundred will see success and so, while encouraging a spirit of adventure, people whose efforts have not had the desired result will also need to be persuaded not to give up.  There are countless small young business enterprises which start with a bang and then, in the face of financial crunch, are forced to shut down. Those who conceive these small but revolutionary ideas then discard their innovative side to opt for a banal paid employment because at the end of the day, survival eclipses all other instincts. Once there is a safety net to support fledgling entrepreneurs, young innovators won’t give up easily.

 

 

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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