A staggering 57% of minute and medium-sized project (SME) entrepreneurs identified the advanced tax structure because the well-known obstacle to doing commerce in compliance with the law, in step with a watch by the SME Foundation.
It furthermore reveals 54% of entrepreneurs regarded as commerce licence renewal project to be a hindrance, whereas 51% cited the further charges associated with these licences as a nuisance. Some 44% cited the complexity of presidency regulations and regulations as one other key obstacle.
Prof Melita Mehjabeen of Dhaka College presented the watch findings on the present time (24 November) at a seminar titled “Informal SMEs in Bangladesh: Formalisation Challenges and Ability Forward” held in Dhaka.
The well-known article presented detailed data on the study and further acknowledged that bigger than 74% of the nation’s SME entrepreneurs are attempting to carry out commerce in compliance with the regulations and regulations of the bid.
The study changed into once conducted on 304 entrepreneurs from Dhaka, Chattogram, Sylhet, Khulna and Rajshahi.
In step with the 2013 Financial Explore of the Bureau of Statistics, there are bigger than 7.8 lakh CMSME institutions within the nation, the use of about 2.5 crore other folks. On the other hand, all these institutions are informal or open air the government’s regulations, regulations and tax framework.
The seminar changed into once organised by the SME Foundation and the German pattern company Friedrich-Ebert-Stiftung (FES). It changed into once chaired by Anwar Hossain Chowdhury, managing director of SME Foundation.
Alternate Adviser Adilur Rahman Khan attended the seminar as chief guest whereas Industries Secretary Zakia Sultana changed into once particular guest.
SME entrepreneurs, representatives of various ministries and departments, SME chambers and associations, banks and monetary institutions, researchers, economists and relevant stakeholders participated within the seminar.
The entrepreneurs mentioned that whereas in India wonderful seven certificates are required from various government departments to carry out commerce in compliance with the law, in Bangladesh they need certificates from on the least 34 departments.
The SME Foundation is implementing various programs based entirely mostly on the government’s Nationwide Industrial Policy 2022, SME Policy 2019, UN SDG 2030 and government directives to waste the SME sector thru economic, social and environmental protection of the nation.
Since its institution in 2007, about 20 lakh minute and medium entrepreneurs within the nation had been beneficiaries of various programmes of the SME Foundation.
