Overcoming multiple challenges in doing business in the Small and Medium-sized Enterprises (SME) sector, many young entrepreneurs in Bangladesh have turned their innovative ideas and hard work into success stories.

The entrepreneurs diversified products utilising local raw materials like jute, leather, bamboo, canes and cloths, and are playing a significant role in reducing unemployment and boosting the country’s economy.

Jute and jute goods

“As Bangladesh’s job sector is passing a crisis moment where millions of people are unemployed, I attempted to become an entrepreneur after completing my Kamil (Masters) in 2018 from the Hadith department at Government Madrasah-e-Ali in Dhaka. In 2019, I started the business by manufacturing jute goods with one employee,” Proprietor of Izma Brand KM Soriatullah told the Daily Sun.

He said that at first he was confused about a business idea, but a seven-day-long training at Jute SME’s Umbrella helped him to go forward with innovative work.

“Incorporation with Izma Brand investing Tk20,000 equally with my partner in 2019, we received an order of 5,000 pieces of jute-made diary from an organisation at first and later we received another 1,000 pieces of jute bags from an education institution,” he added.

“To diversify jute products, I took training from Bangladesh Small and Cottage Industries Corporation in 2019 and SME Foundation in 2020. Now, over 30 employees are working with us.”

He said he received the Best Entrepreneur of the Year award from the Jute Diversification Promotion Centre (JDPC) in 2023 thanks to diversifying jute goods.

“We received a good response from the fair held in India recently. We will go to China soon to display our products too,” he added. “As the demand for water-hyacinth baskets, bamboo, cane and jute-made products is increasing in the global market like the EU, we try to export. Now, we need proper government support,” he also said.

Leather goods

“I started my business in the leather industry in 2016 after graduating from the sociology department at Dhaka University.  At first, I started the business with three employees. The number increased to 60 in eight years thanks to hard work,” Founder and Managing Director of Leatherina, Taslima Miji, told the Daily Sun.

Taslima said she has been awarded the SME Small Entrepreneur (Female) in 2023 by the SME Foundation.

“We source our leather from certified tanneries that emphasise environmentally friendly practices throughout the tanning and finishing processes. We prioritise the use of natural and eco-conscious materials throughout our manufacturing process,” she added.

She added that female entrepreneurs have to face quite a lot of challenges, including lack of family’s support, in every endeavour, particularly in doing business.

“In comparison to male entrepreneurs, the barriers to entry into the market are much higher for female entrepreneurs. Being driven by the ideas I firmly believed in, I overcame all the challenges and kept making my dreams a reality,” she added.

Bamboo and canes

“The products made of cane and bamboo are among the traditional items of Bengal. It has a history of more than 200 years. To revive our industry, I joined the business in 2019-20 completing the study in Civil Engineering at National Polytechnic Institute, Manikganj,” Proprietor of Devayan Handicrafts Devashish Sarkar told the Daily Sun.

He said Bangladesh’s bamboo- and cane-made products are being exported to about 30 countries.

“To expand business domestically and abroad, I need government support, particularly a Tk5-10 lakh interest-free loan,” he added. Devashish said he was awarded at the 10th SME product fair organised by SME Foundation in 2022 and he also received the best entrepreneur award of Manikganj district in this year