Importance Of SME In Bangladesh
Chapter Four: Theoretical Framework of the Study
4. Introduction
Small and Medium Enterprises (SMEs) are now the great concern to develop the economy in the world. It is beyond all controversies and debates that SMEs comes to play role to make ‘positive growth’ in national economy. The factors or determinants related to the SME and banking service have described in this chapter.
4.1 Importance of SME in Bangladesh
Small and Medium Enterprises (SMEs) considered as a dominant form of business organization in all countries, naturally accounting for over 95 percent of the business population. OECD recognized that SMEs constitute an important dynamic element in all economies as they drive innovation, especially in knowledge-based industries; and play a key role in driving sustainable economic growth, employment creation and poverty reduction, especially in developing countries like Bangladesh. It also contributes to the social, cultural and environmental capital of nations.
In view of the rapid structural change in the world economy, especially in favor of increasingly weightless, paperless, knowledge-rich industries and services, to see structural change and remaining relevant as major imperatives for intervention by government and the civil society.
Acknowledging the importance of SMEs and entrepreneurship, the Government of Bangladesh reaffirming their commitment takes initiative to design a SME policies and strategies for its coherent growth.
4.2 Role of SMEs in the
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