On 18 August, entrepreneurs from the Small and Medium Enterprises of Barishal convened at the Hotel Grand Park to discuss common challenges and obstructions faced by SME businesses in the region. The discussion was facilitated by the Centre for Governance Studies (CGS) in collaboration with Centre for International Private Enterprises (CIPE), a Washington-based organization.
SME owners discussed issues relating to paying bribes to acquire trade licenses and bank loans, obstructive VAT and Income tax policies, lack of government stimulus, lack of training and guidance, market manipulation by larger firms, and the contemporary economic downturn increasing cost of business for SMEs in general. Participants at the event also urged for a common platform where SMEs can come together and advocate against the corrupt practices they face. The Executive Director of CGS, Mr. Zillur Rahman, Program Director Mr. Subir Das and Research Associate Mr. Abdullah Al Zafori of CGS were also present in the event.
The diverse group of participants in the program represented SMEs from various economic sectors, such as catering, carpentry, agriculture, light manufacturing, etc. Important highlights from the conversation included a common sentiment that corruption has become prevalent to the point of becoming a normality in the process of doing business. The recent economic hardship due to increasing inflation and the lingering effect of the Covid pandemic is still having an adverse effect in the day-to-day conduct of SME businesses in Barisal. The situation is only exasperated due to the unavailability of government stimulus or the lack of stimulus reaching intended SME owners.
News Courtesy:
https://dailyasianage.com/news/291922/cgs-holds-seminar-with-smes-in-barishal
