Thursday, 11 August, 2022

Is Technical Education Necessary for Entrepreneurship?

Md. Nayeem Hossain Chowdhury

Entrepreneurial issues are related to creativity. A person becomes creative only when he has at least a basic knowledge of the subject. However, only basic knowledge is not helpful in creating entrepreneurs. It requires some real experience, which is impossible without taking some real logical sense. In acquiring this logical sense, 'Technical Education' can become the main maternity ward.

If we look back a little; Sir Fazle Hasan Abed is one of those who played a pivotal role in the reconstruction of war-torn Bangladesh after the Liberation War in 1971. BRAC, founded by him, has since played a role in rebuilding this war-torn country. Not only they provide micro-credit facilities to war-torn, helpless rural families, but also imparted technical education to them by a group of experts on how to ensure sound investment in micro-credit. As a result, they got the right direction to be the right entrepreneur. In a consequence, large-scale industrial expansion took place in the country within a few decades. Thousands of unemployed youth find opportunities for self-employment. In addition, it also contributes to the creation of new entrepreneurs. As a result, the country's economic indicators gain some traction.

An example can be given, After the independence of Bangladesh, beginning the operations of BRAC, it was found that the country's climate was very suitable for agricultural products as well as cattle farming. BRAC can easily facilitate this cattle firming at 80 decades to encourage these rural poor people. They sent a part of their expertise to New Zealand and Australia for training on cattle firming. Then trained the rural people when they come back to the country. Within a few years, the country was re-entering cattle ranching, which resulted in many poor people becoming self-employed and putting down unemployment throughout this work. Even the same BRAC had developed a dairy company in 1998, which has contributed to meeting the necessary protein for our country's people and has added to the availability of shares. If we first look, our country's dairy farms and dairy institutions are very much out of the front during the 80s and 90s. BRAC pioneered the initiative of entrepreneurship development along with other similar institutions at that time.

At present, with the assistance and guidance of govt. BSCIC (Bangladesh Small Cottage Industries Corporation) has been formed to give funding and training facilities to SME enterprises. Similarly, Kormsongsthan Bank has been established for youth entrepreneurs, Bangladesh Krishi Bank, and Rajshahi Krishi Unnayan Bank for agricultural entrepreneurs. BSCIC was able to train 18,50, 17, 829 youth entrepreneurs in their respective entrepreneurship in FY 2020-21. They met 95 percent of their target. Only, 348 candidates got the training in 'ICT Cell' last year but their target was 170. That means they are across their target at 225%. (Source: BSCIC Annual Report 2020-21)

To create and develop entrepreneurship, Private organizations like BRAC, ASHA, PRASHIKA, and Polli Karma Sohayak Foundation (PKSF) are formed. The PKSF Report 2021-22 says, in Entrepreneurship Development and Training Program, they trained 746 candidates in 3 batches on SME Management, and 134 candidates received Examination and Evaluation Training from them, 72 people has been trained up in the 'Stress Management and Humanity' course. However, nowadays entrepreneurs are not behind in any part of organizations.

The entrepreneurial sector in this country is adding to the economy of our country every year. Around 4 to 5 percent of our GDP comes from Small & Cottage Industries. So, we need to take care of this industry. New entrepreneurs need to inculcate the creative mindset of more ongoing thinkers and entrepreneurs. To achieve this objective, an organization needs to develop control and technical training. All domestic and foreign should come forward. Only then is it possible to leverage the path through entrepreneurial determination, which can add new dynamism to the country's economy.


The writer is an undergraduate

student of Mawlana Bhashani Science

and Technology University in ‘Business Administration’ discipline