Small and medium enterprises entrepreneurs at a workshop on Sunday emphasised the need for taking anti-corruption measures and supportive policies for the flourishing of this sector, saying that they are bearing the brunt of corruption when it comes to doing their business.
Corruption remains one of the largest barriers to business investment and development of new entrepreneurs in Bangladesh, with small and medium-sized enterprise entrepreneurs bearing the brunt of its negative effects, they said.
They came up with the observation and call at a regional workshop hosted by the independent think-tank Center for Governance Studies in collaboration with the Washington-based Centre for International Private Enterprises at the Royal Raj Hotel and Condominium in Rajshahi on Sunday.
The workshop, attended by representatives from various levels of the SME sector in the Rajshahi division, aimed to address the challenges faced by entrepreneurs and explore solutions to foster good governance.
CGS director Zillur Rahman acknowledged the sub-national challenges Bangladesh faced as a developing nation, highlighting the SME sector鈥檚 struggle with inadequate education and training.
鈥楾hese gaps prevent entrepreneurs from fully understanding and following essential business processes,鈥� he said.
Zillur Rahman said, 鈥楾o combat these challenges, CGS is developing a 鈥楪ood Governance Toolkit鈥� with input from experts, business leaders, and SME entrepreneurs.鈥�
鈥楾his toolkit, designed to simplify complex procedures, includes resources on trade licences, online business operations, letters of credit, and recommendations for improving transparency and accountability,鈥� he added
Highlighting the difficulties in obtaining key business documents such as trade licences, TIN certificates, and bank accounts, SME owners called for the toolkit to include guidance on accessing low-interest business loans, particularly for online businesses, which are increasingly vital in today鈥檚 economy.
They suggested development of a bank loan policy tailored to online enterprises and called for the establishment of a reliable courier service with product compensation guarantees to support the growth of e-commerce.
Participants highlighted the urgent need for a collective anti-corruption platform to advocate for policy changes that benefit SMEs. 鈥楳embers of this platform should lead by example, encouraging transparency and fairness in business,鈥� one entrepreneur noted.
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