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Inside the mind of an entrepreneur

  • Published at 04:42 pm August 21st, 2016
Inside the mind of an entrepreneur

This would, naturally, suggest that the hardware market in Bangladesh is booming due to growing demands and potential customer base. While that is somewhat true, we spoke to Md Zahidur Rahman Milky, assistant product manager at Global Brand Pvt Ltd, to understand the current situation and reality of the Bangladeshi hardware market and its potential for being a source of employment.

How well is Bangladesh coping locally and internationally with regard to hardware production?

In terms of production we don’t have any production lines of PC hardware in Bangladesh. But we do have mobile phone companies and accessories produced locally. There are no hardware companies as of now or PC hardware in Bangladesh. We are still looking forward to it.

Local mobile phone companies are doing quite well comparing to the international brands. A lot of small business establishments are here producing mobile accessories to serve the local market.

What are the major advantages and disadvantages we have in the hardware market?

As a developing country we do face some problems here. In the hardware market, high-end products serve a little portion of customer base while low or mid-range products have the major portion of the customer segment.

There’s a big market growing for gadgets in Bangladesh. New innovations and new facilities are making people interested in the latest gadgets. The market grew fast and got a lot bigger in the last five years, engaging some more international mobile phone companies and world leading PC component manufacturers here. We do not need to import our desired products personally. Almost everything is available here.

Due to the system of taxation, however, we face a lot of price inflation here. We cannot match the price with international markets, therefore, making customers more interested in importing or carrying products from abroad. Sometimes we cannot provide the desired product due to regional limitations. It takes a lot of time to introduce a new product here compared to the international market. Moreover,

Some dishonest businessmen are making a lot of money by serving replica or fake products in the market, making customers lose their trust on genuine products.

Another issue we face is the lengthy import process of our country.

Can this sector provide sustainable employment for the youth of Bangladesh?

I can see a huge opportunity in the hardware sector. This country is producing quite the number of engineers per year. We import all sorts of hardware but we don’t have any industries here. If foreign investors take an interest in this sector, along with government cooperation, we could make a service sector for the unemployed but talented youth. Thus, the products will come out cheaper and in turn reduce our dependency on foreign brands.

Which major aspect needs to be addressed to help Bangladesh compete in the global market much more efficiently?

Firstly, we have to consider what our local customers’ needs are in comparison to what they are offered by the global market. We should make the most use of production and approach to other countries that shares same environment or lifestyle.

Secondly, labour cost is very low here in Bangladesh and could be another advantage for us.

Third, using local talents instead of hiring foreign high officials will open up new opportunities. No educated person will aim to go abroad for a career.

What motivates you to do what you do?

I am a gamer, not professional though, and a tech geek too. I do what I love and gadgets are like my love.

Who is your role model? 

Myself, perhaps.

What are your favourite foods and hobbies?

Pasta, Pizza, anything that has Cheese in it! And I love local street food too.

Content was reprinted under a special arrangement with www.startup-bd.com