Overcoming entrepreneurship development constraints: the case of Bangladesh

Abstract

Purpose – This study aims to investigate the constraints that entrepreneurs face in small and medium enterprises (SMEs) in Bangladesh and suggests measures to remove the constraints to entrepreneurship development. Design/methodology/approach – Survey data were collected from 60 entrepreneurs to investigate problems and evaluate the effectiveness and relevance of the government policies and programs as perceived by the entrepreneurs. Secondary data were also used for this purpose. Findings – The findings indicated that to the extent that the political stability and rule of laws were enforced, infrastructure facilities were improved, and corruptions were rooted out, education and training were imparted, and financial help was provided, new and energetic entrepreneurs, for the development of SMEs, would emerge in the country. Research limitations/implications – This study implies that a positive environment through encouragement and positive reinforcement of a stable socio-political climate for a sound market economy and specialized schools of entrepreneurs will foster a positive climate for the development of SMEs in Bangladesh. The limitations of the study are that it does not concentrate on a particular company type and does not include a region comprising many cities. Originality/value – Built on theories and researches on entrepreneurship, this paper captures the essence of identification of the constraints facing entrepreneurs and facilitating the identification of implementable strategies and approaches necessary for the promotion and strengthening of entrepreneurship in Bangladesh, thus constituting an aid to the policy makers, researchers, and businesses for improving the various aspects of entrepreneurship in Bangladesh in particular and in developing countries in general. Further research can be undertaken in this direction.