Monday, 2 October, 2023

SME sector secures 99pc of total businesses

  • Staff Correspondent
  • 10 August, 2023 12:00 AM
  • Print news

The small and Medium Enterprises (SME) sector accounts for 99 percent of the total business, contributing greatly to the economy and social development of the country.

It contributes to nearly 30 percent of Bangladesh's economy, and around 85 percent of industrial establishments are associated with the SME sector, according to a press release.

Among the more than 7.8 million business establishments in Bangladesh, over 7.813 million, or more than 99 percent are engaged in the SME sector, according to the SME policy of 2019–2024.

The SME Foundation is working on various initiatives to promote the development of the SME sector, including financial support, market access, national and regional SME product fairs, networking of buyers and sellers, participation in international fairs, IT and technology skill development, SME cluster development, and business management enhancement.

In pursuit of this objective, the SME Foundation has been providing recognition to SME entrepreneurs since 2008.

As part of their initiatives, the SME Foundation has called for applications for the National SME Entrepreneur Award 2023.

The National SME Entrepreneur Award aims to acknowledge the significant contributions made by entrepreneurs to economic and social development through job creation and innovative initiatives.

The awards are presented to deserving entrepreneurs along with cash prizes, crests, and certificates during the National SME Product Fair.

The application process involves collecting eligible and verified applications from interested entrepreneurs.

An independent jury board follows a transparent process and specific criteria to select eligible entrepreneurs for the award.

The award-winning entrepreneurs receive monetary rewards along with crests and certificates.

The National SME Product Fair inauguration ceremony in November 2023 will be the venue for award distribution.

Entrepreneurs from various categories, including micro, small, medium-sized, and startup businesses, have the opportunity to apply for the National SME Entrepreneur Award 2023.

The application forms and detailed information can be found on the SME Foundation's official website ( and verified Facebook page (SME Foundation).

Application submissions should be completed with the necessary documents by August 24, 2023, either online, via email ([email protected]), or by submitting physically at the foundation's offices.

Incomplete or improperly filled applications, as well as submissions without required information or documents, will be considered invalid.

It is noteworthy that trading-based businesses are not considered for this award.

The SME Foundation urges all interested entrepreneurs from across the country to apply and participate in this endeavour for recognition and support in their business journey.