A Research Paper About Health and Economics, Study Guides, Projects, Research of Marketing Business-to-business (B2B)

Download A Research Paper About Health and Economics and more Study Guides, Projects, Research Marketing Business-to-business (B2B) in PDF only on Docsity! Research Paper about Initiatives of Bangladesh Government for Entrepreneurship Development. Based on: SME, BCSIR, SCITI, BSCIC & Bangladesh Bank. DECEMBER 7, 2021 CHITTAGONG INDEPENDENT UNIVERSITY Jamal khan, Chattogram, Bangladesh P a g e | 1 A Study About Small and Medium Enterprise, Bangladesh Council of Science and Industry Recherché, Small & Cottage Industries Training Institute, Bangladesh Small and Cottage Industries Corporation, Bangladesh Bank (BB). Submitted to: Dr. Tanvir Mohammad Hayder Arif  PhD (Entrepreneurial Finance)  MBA & BBA (Finance) (CU)  MSc. International Business Management (UK)  Professor of International Business Management and Finance, University of Chittagong  Ex-Assistant Professor, USTC;  Ex-Lecturer AUB  Ex-Regional Head, NITOL-TATA Group Submitted by SL Number Name ID Email 01 Sohrab Hossain Arman 20301007 hossaintnl@gmail.com 02 Sakib Chowdhury 20201056 sakibchy08170@gmail.com 03 Irfan Mahmud 20201041 irfan141414@gmail.com Table of Content SL Number Title Page 01 Introduce 01 02 Acknowledgment 02 03 Abstract 02 04 Keywords 02 05 Introduction 03 06 Small and Medium Enterprise (SME) 03 07 Bangladesh Council of Science and Industry (BCSIR) 05 08 Bangladesh Small and Cottage Industries Corporation (BSCIC) 06 09 Small & Cottage Industries Training Institute (SCITI) 06 10 Bangladesh Bank (BB) 07 11 Discussion 09 12 Result 09 13 Literature Review 10 11 Methodology 11 12 Conclusion 11 13 Reference 12 P a g e | 4 Objectives of SME • Implementation of SME policy strategy adopted by Bangladesh government. • Recommend policies to various government ministries and agencies in consideration of SMEs. • Provide SME start-up support services. • Provide information and appropriate instructions for establishing a new SME. • Conduct departmental research to ensure availability of up-to-date information, identify problems, and recommend preventative measures. • Operating credit wholesale programs for SMEs through various banks and non-bank financial institutions. • Conduct training programs to create professionals in various SME sub-fields according to needs. • Technology development, adoption of new technologies, implementation of reverse engineering and support of small and medium enterprises to obtain quality certification. • Support SMEs in the marketing of products and promotion of services. • Leading women into the mainstream of entrepreneurial development and supporting them to achieve economic independence. • Support SMEs that form institutional bonds with foreign companies to build capacity, transfer technology and improve productivity. • Educate and motivate SMEs to use ICT tools to improve productivity and quality. Contribution of SME: The crucial exercises of SME Foundation are execution of SME Policy Strategies got with the aid of the Bangladesh Government, consideration advancement and intervention for the addition of SMEs, working with financial associates for SMEs, offering limit improvement and potential creating getting ready, working with change with amazing progressions and get right of area to ICT, offering adventure help organizations, etc. It is mentionable here that the Foundation is working for the improvement of associations and business visionaries who have a spot with smaller than usual, little and medium classes as per Industrial Policy 2016. Small and Medium Enterprise (SME) Year Total Loan Disbursed (BDT Core) Target SME Loan (BDT Core) Total SME Loan Disbursed (BDT Core) No. of SME Financed Total SME Loan Disbursed to Loan Disbursed (%) Achievement (%) [ Total SME Loan Disbursed to Target SME Loan] 2010 254124.02 40868.12 53543.93 308726 21.07 131.02 2011 258764.16 58951.13 53719.44 319341 20.76 91.13 2012 312095.84 61024.78 69753.42 462513 22.35 114.30 Total 824984.02 160844.03 177016.79 1090580 21.46 110.05 P a g e | 5 Bangladesh Council of Science and Industry Research (BCSIR) The Bangladesh Council of Science and Industry Research (BCSIR) started its activities in 1955 under the name 'Eastern Laboratory', a subsidiary of the then PCSIR. After the independence of Bangladesh, Bangabandhu Sheikh Mujibur Rahman established the 'Bangladesh Council of Science and Industry Research (BCSIR)' in 1973 by issuing an ordinance to accelerate the advancement of science and technology within the country. This organization has been engaged in scientific and industrial research so on attain self-sufficiency in industrial development. For quite 50 years, BCSIR has been the leading Research and Development (R&D) organization in Bangladesh, conducting R&D projects in response to national demand and contributing to the country's economic vibrancy. During this time, the BCSIR has grown to include three multidisciplinary regional laboratories, six mono disciplinary institutes, and one centre for pilot plant studies. Objective of BCSIR BCSIR is focused on the following missions:  Conduct, promote and coordinate market-led scientific and industrial research  Rearrange the organization's settings / organization chart ordinances, by-laws and regulations to meet the needs of Vision 2021  In addition to training various research and analytical laboratories in the country, all laboratories are recognized to meet the needs of local and export markets.  To create and maintain a conducive environment for the enrichment of domestic research and development activities,  Earn revenue which covers 25% of the total expenditure of BCSIR Function of BCSIR  Stimulate the IT service  Transfer of technology,  Analytical service,  Poverty alleviation and girls’ empowerment,  Human resource development,  Creation of public awareness and  Consultancy service. Contribution of BCSIR BCSIR plays an important role in the field of scientific and industrial development of the country. Most of our country’s innovations have originated from this organization. An example would be the “Biogas” technology, which may be a clean combustible fuel. This is often an impressive innovation of this institution and is now getting used everywhere in the country. Biogas can play a crucial role within the international movement to fight to warm. BCIR has also developed other environmentally friendly products, like efficient stoves which require only 1/2 the energy needed for the commonly used stoves. BCISR has established a skin research centre in Nayarhat, Savar. They got already invented environmentally friendly skin processing plants there. The organization has also invented instruments to live the amount of formalin in fishes, and therefore the quality of water, each of which has been accepted to be of international standards. BCSIR also developed and enhance the technology-based industry. They give financial and supportive assist for growing technology-based business, BCSIR also arranged Science Fear every year and they collect innovation tech ideas from display they also assist financially to grow up business that people who make a beautiful innovation. Tech idea. Therefore, we are able to say that BCSIR has advanced remarkably, both scientifically and industrially. P a g e | 6 Bangladesh Small and Cottage Industry Corporation (BSCIC): Bangladesh Small and Cottage Industry Corporation (BSCIC) is the country's leading organization for promoting small, cottage, and rural industries in the private sector. BSCIC was established as the successor organization of the East Pakistan Small and Cottage Industries Corporation (EPCIC). The Head Office of the Council was established at the Dhaka Laboratories campus. In 1975, the Council was placed under the Ministry of Education and Science and Technological Research. Objectives of BSCIC:  SCI sector industrial production and productivity improvement;  Job opportunity creation,  Poverty alleviation;  Balanced regional growth;  Achieve optimal utilization of economy and human resources.  Accelerate the country’s overall economic growth through SCI. Functions of BSCIC BSCIC provides small businesses with medium and long-term loans, either directly or through a consortium of commercial banks.  Promotion and registration of Small and Cottage Industries (SCIs)  Conducting advisory and industrial promotion services including training of entrepreneurs  Skill development for artisans and craftsmen  Creation of jobs for SCIs  Construction and development of industrial estates with necessary infrastructural facilities for SCI  Development of linkages between SCIs and large and medium-sized industries.  Online Service for registration of Industry, Apply Contribution of BSCIC BSCIC lends to small businesses on a medium and long-term basis, either directly or through a consortium of commercial banks. BSCIC also provides assistance in all other aspects of small and cottage industry growth and expansion (SCI). The Bangladesh Small and Cottage Industry Corporation (BSCIC) is the government agency in charge of overseeing the growth of self-employment, cottage industries, and small businesses in Bangladesh. It compiles data on the various types of businesses, their operations, and the number of person’s employer. The Small & Cottage Industries Training Institute (SCITI) The Small & Cottage Industries Training Institute (SCITI) is the only public training institute for the Development of human resource in the MSME sector. This institute mainly provides training to the people of private sector for entrepreneurship and management development. It also provides training to the officials of both public & private sector who are working in different categories in different organizations. Such as BSCIC, Banks & NGO’s. Besides training, the Institute also carries out various types of research work on relevant issues, problems & prospects of the SME sector and offers consultancy services. The Institute mainly gives emphasis on the development of entrepreneurship. Since the inception of the Institute (in January, 1985) till June 2013, SCITI has imparted training to about 40000 persons and Entrepreneurs encompass about 80% of the total participants. Training courses are mainly conducted at Institute in Dhaka but there are many training courses which are also conducted in different areas, Districts, Thana and remote rural areas of the country. The training courses are designed by considering the necessity and pragmatic use of the trainees. P a g e | 9 Discussion Various government and non-government organizations provide assistance to small and medium entrepreneurs in Bangladesh in various sectors. Which gives us the courage and courage to be an entrepreneur in Bangladesh. New entrepreneurs receive a wide range of support in the fields of industry, technology, agriculture, etc. Some of the leading organizations are: SME, SCITI, BCSIR, Bangladesh Bank, BCSIS, and NGO etc. They provided mainly three types of assist.  Stimulating Incentive support includes various incentive programs, information on various types of investment opportunities, publicity and dissemination of government assistance and cooperation, provision of technical and economic information and advice.  Supportive Entrepreneurs do not get the opportunity to set up industrial establishments. Fundraising of industrial establishments. Structural assistance.  Conservative Conservation services are the kind of service that is needed to keep entrepreneurs motivated and motivated to run a business. On the other hand, barriers to business activities, management and expansion are removed through conservation assistance SME foundation assists a lot of new entrepreneur to grow up his/her business. SME projects reached every corner of Bangladesh they are provide financial assist a lot of people. Also, BCSIR proved technology-based business assist. They play a big role in our tech business. They invention various types of products, they discovered highly predictability products in agriculture, animal science, pharmacy. Bangladesh Bank, also known as the guardian of all banks of Bangladesh. Bangladesh Bank performs all the functions that a financial institution in any country is predicted to perform. Such functions include maintaining price stability through economic and monetary policy measures, managing the country's exchange and gold reserve, and regulating the banking sector of the country. Like all other central banks, Bangladesh Bank is both the government's banker and therefore the banker's bank, a "lender of last resort". Bangladesh Bank, like most other central banks, operates monopoly currency and banknotes. apart from the one, two, and five taka notes and coins which are the responsibility of the Ministry of Finance of the govt of Bangladesh. In addition, the government could aid failed businesses by organizing necessary financing for new firms, providing tax relief, enabling quality testing and offering management consulting, among other things. Increase the number of research publications on entrepreneurship by non-governmental groups. In order to encourage young entrepreneurs, both government and non-government organizations should provide investment consulting including counselling, seminars, workshops, and camping. Existing and aspiring entrepreneurs should collaborate with young innovators in entrepreneurial forums to enhance their understanding of Business. Result Bangladesh, which has enormous potential for entrepreneurship growth, may expand its scope beyond national boundaries by overcoming the restrictions that entrepreneurs encounter. There are some suggestions for balancing issues and possibilities at that location. For entrepreneurial growth, the government should adopt a practical and consistent strategy that focuses on decentralization, rural development, and protecting domestic entrepreneurs. In order to reach social entrepreneurs, social business concepts need to be combined with entrepreneurship development strategies. Long-term, it will have a positive impact on society by increasing the number of national entrepreneurs. In 2016, loan disbursement to SMEs used to be Tk 141,935 crore, which shot up to Tk 161,811 crore the following P a g e | 10 year, in accordance to information from the Bangladesh Bank. In the first 9 months of 2018, SME mortgage disbursement was once Tk 114,461 crore. As per BB's instructions, 20 percentages of all bank loans should go to SMEs. The data have left many, which include bankers, scratching their heads: how can complete loan disbursement be decrease than SME loan disbursement. Bangladesh Small and Cottage Industries Corporation (BSCIC) furnish loan recoveries for small, micro, cottage and mid-level industries will be 99%. The BSCIC has begun the loan program via distributing Tk10 lakh amongst marginal salt farmers. Bangladesh Small and Cottage Industries Corporation (BSCIC) has disbursed 2,347 loans amounting BDT. 2539.48 lakhs with 9% interest amongst female entrepreneurs. Literature Review There are many written reports on entrepreneurship at home and abroad. A brief summary of some topics is discussed below. In the Schumpeter model, firms are innovative firms that rely on their socio-economic management costs with confidence. Very low economic and social spending in developing regions Schumpeter’s entrepreneurs is scarce. McClelland drew up the blueprints of society’s achievement and found that initiators can be entrepreneurs because they have high requirements to achieve faster economic growth. The inherent need for individuals to do strange and new things in a specific field has been established as an important component. It includes motivation, efficiency and entrepreneurship. Inspiration for achievement and motivation for power are essential to entrepreneurship 9 McClelland and winter. Marris and Somerset expressed that increase in the range or interaction is needed and the barriers to interaction must be going down if entrepreneurship is to come. On a survey, Hossain has expressed his thoughts regarding the entrepreneurs of Bangladesh about their insufficient intelligences toward business. Thus, they don’t get to make advantages of feasible business opportunities. A critical evaluation was made by Habibul Rahman about the impacts of different programs and policies regarding to the small enterprises and also entrepreneurship. International students who have studied Bangladesh’s Socio-economic and ethnic background believe that they are young people who can be trained as entrepreneurs in Bangladesh. According to the research of Habibullah. N another study by Habibullah for Entrepreneurship Education and Development, Education was printed as an environmentally friendly tool for improving entrepreneurship in Bangladesh Top of Form. Chowdhury conducted a study of the emergence and rise of businesses in some developing countries and found that several developing countries have recorded remarkable growth over the past few years and success of small entrepreneurs Chowdhury. Davis focused on the impulse to achieve, causing people to challenge entrepreneurs into cutting-edge, productive businesses that fuel economic development. Chowdhury and Nuruddin opinions that it is rightful that a congenial environment is essential to prepare and develop effective entrepreneurs in the state Chowdhury and Nuruddin. Rahman points out that Bangladesh’s poor economy can hardly afford to develop entrepreneurship beyond SMEs. The balanced development of a real economic organization relies heavily on SMEs for several reasons, such as high unemployment, lagging technology, fragile infrastructure and lack of capital. Aktaruddin discovers that personal attributes are the key to entrepreneurial success after failure, and Aktaruddin reports on the socio- economic background of Aktaruddin entrepreneurs. Salman emphasized multiple external and internal factors and obstacles for the development of the SME sector, including information, knowledge, politics, and economy, law and government publications. Human structures and materials and processes into government, engineering, natural climate, internal components that can be categorized into external and mechanical factors. Ronnie reported insufficient availability of Bangladesh’s capital for an unstable financial environment, with a per capital income of $220 and low. The interest fee is high that lead fee of bowing also high. The wage rate is the most necessary determinant of entrepreneurial decision. In addition to this, Ronnie said that entrepreneurship in the political sector of Bangladesh is no longer well supported He also revealed that in the long run sociocultural surroundings performs a far achieving effect in the entrepreneurs. P a g e | 11 The study also argued that businesses are likely to participate in socially restricted classes, such as ethnic, religious, cultural, or immigrant minorities. Mittal and Batra conducted a study of factors influencing the development of entrepreneurship in small industries in the states of Punjab and Haryana, the small-range entrepreneurs are facing an intense competitor Mittal and Batra. Rahman and Das carried a research on the evolution of SME in Bangladesh and vowed that unfair use of political power is liable for the imperfect market Methodology We have completed this assignment after a long time. We all co-operate with each other that's why we finish it smoothly and easily. The maximum time we group discuss in our CIU computer lave, we wrote this assignment commonly. We read a lot of business papers, visit websites, read business journals, seeing business type’s videos. We are respectfully thanks to our honourable Tanvir sir who teaches us a lot of information which make our assignment valuable and successive. Also thanks to our CIU, they make a beautiful internet-based technological platform where we discussed and also wrote our assignments. In order to carry on this work and to find out the objectives that will be quantitative in nature, descriptive research design has been tackled. Relevant and supporting secondary data have been collected through desk study, including research articles, texts, research monographs, cases and various published and unpublished materials on the topic. These data have been examined in the basics of notable relationship to establish the study more enlightening and thought stimulating. Calculation Businesses play an important role in the economic development of a country. There are thousands of small and medium entrepreneurs in our country whose tireless work is accelerating the economic wheel of our country. In order to keep pace with today's world, we need to show ourselves more efficient and touch modern technology in all businesses, so that we can keep pace with the developed world and deliver advanced products and services as per the needs of the customers. To this end, we need to provide adequate support to the small and medium enterprises of our country, both publicly and privately, for the concept of technology-based business and its implementation. In addition to technological advancement, we need to build skilled human resources as well. ‘If money is the driving force of an organization, then human resources are the source of that money’. If we do not have skilled human resources, even after having a proper business plan, then we will not be able to make our business plan a success. So in order to survive in today's business world, we need to build technical skills and skilled human resources. And for this, new entrepreneurs, small and medium enterprises need to provide proper assistance in this regard.