We could not agree more with the opinions expressed by experts that micro, small and medium enterprises (MSMEs) need unified business development support to improve the MSME ecosystem in Bangladesh.
While Bangladesh has made impressive strides economically in recent times, there are legitimate questions about whether our growth has been equitable. Moreover, while businesses and overall investment are also seeing an uptick, the same unfortunately cannot be said for our MSMEs, who, despite the historical lack of support, continue to be a foundational component to the economy at large.
The lack of finance for our MSMEs has arguably been the most egregious issue; even during the pandemic, while our biggest sectors such as RMG were receiving support from the government, it was the MSMEs that were once again left scrambling. In addition, there continues to be a lack of incentives and drive provided to MSMEs so that they can continue to innovate and ensure quality.
It is thus encouraging to see the multi-year program aimed at improving the well-being of poor and disadvantaged men and women by increasing their access to the labour market and increasing their income. Funded by the embassy of Switzerland to Bangladesh and implemented by Swisscontact, programs such as this should be the norm, and will help slowly but surely build the capacity of our MSME sector.
Indeed, it is the successful implementation of such programs, together with increased government support and recognition, that will hopefully help us bridge the gap that currently exists between MSMEs and bigger businesses, and eventually create a more equitable and business-friendly Bangladesh for all.