Experts at an event have said that micro, small and medium enterprises need unified business development support services to become more mainstream and competitive.
It can play a greater role in the development of the ecosystem and, by extension, Bangladesh, they said.
They observed this while addressing a daylong event titled ‘Corporate Connect Event for MSMEs’ at a hotel at Gulshan in the capital on Wednesday, said a press release on Friday.
B-SkillFUL, a multi-year program aimed at improving the well-being of poor and disadvantaged men and women by increasing their access to the labor market and increasing their income, organized the event. The program is funded by the Embassy of Switzerland in Bangladesh and implemented by Swisscontact, LightCastle Partners, a premier management consulting firm, implemented the event as part of the business development service package for B-SkillFUL.
Held as part of the business development service package for B-SkillFUL, the event facilitated linkages for MSMEs from the furniture making and leather goods sectors with potential buyers and financial institutions to address two major pain points – financial inclusion and market accessibility.
25 MSMEs from Dhaka, Kishoreganj, Rangpur, and Bogura and more than 100 representatives from private corporations across Dhaka and Chittagong attended the event.
During the event, representatives from financial institutions, private firms, and MSMEs took part in a multistakeholder panel discussion to collectively discuss and debate the issues that are critical for MSME growth and integration in larger value chains.
Samiul Anam, head of SME, Bank Asia, Zahir Hassan, CEO, Savior Bangladesh Ltd., and MG Shahnewaz, vice-president, Concord Ventures Limited, spoke in the panel alongside two MSME owners.
Dajna Sorensen, Team Leader, B-SkillFUL, Swisscontact said in the opening ceremony, ‘Today’s event is a testimony of those businesses that have made progress because of the support of the Swiss government.’
MG Shah Newaz, vice-president, Concord Ventures LTD said, ‘The biggest challenge that MSMEs face in the case of exporting is ensuring quality and innovation. If these challenges can be overcome, MSMEs have a lot of room for growth in the export market.’
Samiul Anam, AVP, head of CMSME, Bank Asia said, ‘Access to finance can be easier for the MSMEs if they are given proper knowledge about business documentation. Because the biggest hurdle for MSMEs in terms of gaining financial support from banks or financial institutions is the lack of proper documentation.’
The second phase of the B-SkillFUL project started its operations in Bangladesh in September 2020 and has been focusing on strengthening the micro, small and medium enterprises in Bangladesh through capacity-building initiatives.
The program operates across six regions within Bangladesh: Dhaka, Gazipur, Bogura, Nilphamari, Rangpur, and Kishoreganj in collaboration with Business Development Service providers.
Over the last year, LightCastle Partners provided BDS support to 103 MSMEs in the areas of financial inclusion, market access, knowledge, and business model.