Empowering SMEs digitally

Scitech Report

23 September, 2019 12:00 AM printer

Country’s largest service marketplace Sheba.xyz has been providing more than 86 services (including electrician, plumber, beauty service, cleaning etc.) and maintaining the best quality relentlessly.

These service providers and the company regularly need training, direction and financial support for better quality. Sheba.xyz and Business Finance for the Poor in Bangladesh (BFP-B) are jointly working to enhance the financial ability of the SMEs.

Different methods and steps are being taken to reinforce these SMEs. These include incentives, technical training for the workers and support for the business growth. In a nutshell, anything and everything needed to further establish are being done in this program.

Generally, 95 percent of the household and office services in Bangladesh is ensured through small business entities. These entities often lag in business supports (for example- financial support, lack of business knowledge, lack of technological skill and proper direction).

As per the project, small businesses from Sheba.xyz Platform are eligible for small loans. In that case, Sheba.xyz is ensuring the collection of Digital KYC, the necessary information for the small business entrepreneurs. Even though Sheba.xyz is a one stop platform between the customers and service providers, the scope is a lot larger. All of the service providers (small business entrepreneur) can take all the necessary business supports, loans, training and others to expand his/her business from ‘Sheba Briddhi’.

Different initiatives have also been taken to eradicate the barriers in expanding the business for the small business entrepreneurs. Undoubtedly, providing financial and other support for the small business entrepreneurs is a risky issue. The organizers deserve to be admired for that.

This joint initiative will certainly help in establishing hundreds of businesses and have a positive impact on the economy of Bangladesh if implemented properly.