Entrepreneurship and SMEs are more important than ever before

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It is well established how important, resourceful, and impact-generating for the economy they are

As depends upon collectively is trying to fight Covid-19, intense, devastating, as well as perhaps irreversible losses are being incurred by the tiny and medium business enterprises and by entrepreneurs who, for instance, just got their products from the prototype stage before getting into the market.

Now, as countries are competing for finding the vaccine that may save people, days and nights aren’t stagnant. SME and small time entrepreneurs are undergoing significant detrimental effects that it'll be difficult to recover, despite having the lucrative packages the government and other international enterprises (through the federal government) are providing.

However, there exists a common factor here. Because of prolonged periods of shutdown on the globe, people from all walks of life -- from the prodigious and the wealthy to the hawker who sells fruits on the streets -- are being influenced financially. Exactly here comes the “strain factor,” a variable of the legal world that connects economical status to crime. The financial deterioration a rich person is facing is nothing compared to the hawker, or the low-level employee.

It is more developed how important, resourceful, and impact-generating for the economy SMEs are. They not merely provide products to the client, but also aid the economy by creating employment for a substantial chunk of the population. Keeping this paramount urgency at heart, the government and private sector did think of a stimulus package for SMEs to survive this brutal shakedown.

Surprisingly, entrepreneurship, the very idea of what a business owner is and what he/she does, is yet at its infancy. The truth is, the united states has successfully produced “outsourcing robots” who outsource their services -- that may not be put beneath the definition of entrepreneurship. An entrepreneur doesn’t run an established business; rather starts with a concept which can work or fails (the majority of the cases). 

When the idea works, they go to make their service/products and do market surveys to check on if the market needs what he/she or their start-up is wanting to provide. The primary challenge a business owner faces in the obscure dark road ahead is financing. 

Numerous times, it's been uttered that imitation isn’t innovation, and what isn’t innovation isn’t entrepreneurship. Opening up a French restaurant in California, or a fresh burger shop in Dhanmondi, is no way entrepreneurship. And picking right up the phone to answer some written script to supply call-centre service for a developed country isn’t entrepreneurship either. 

So, it really is logical to deduce that the authorities of Bangladesh lack in-depth knowledge about what actually is entrepreneurship, for there is no “rigid definition” of it either. Perhaps two friends sitting within their bedroom building a robot to greatly help accumulate samples or data about something, say in this case, the damaged patients, are on the way to innovate something. 

And if their idea succeeds and may be scaled up and financed appropriately, will they have the ability to call themselves entrepreneurs? In normal time, an incredible number of ideas -- good and bad -- conclude in the graveyard. Then, try to think in this “new normal” time, how abnormal it is when Bangladesh must send its persons to discover how to cultivate potatoes in an efficient manner by spending a fortune.

The enormous number of zoom meetings and talk-shows about creating leaders and innovators has wasted capital -- real-time money with zero impact. The aftermath, when everything returns to normal, will be catastrophic for many who desire to be entrepreneurs, given there is absolutely no coordinated stimulus package for the entrepreneurs of the united states. 

It is never possible realistically for just one start-up in a country like Bangladesh to fight against the big “corporation mafia” to bring their dream into reality without properly raising awareness, and teaching and advising persons on the variations between business and entrepreneurship. 

Not everyone becomes Zuckerberg or Bill Gates -- most fail due to many reasons. It is perplexing that a2i, ICT division, PMO start-up funding division etc are all being manipulated by persons who didn’t give a single logical, workable, and effective route which the thousands of entrepreneurs -- from the tiny girl of a village stitching her dream by making some new products to the complex robot makers -- should follow. There is no stimulus package for solely the entrepreneurs who were perhaps some small steps from being called an SME prior to this tragic year. 

The deeper the night time, the closer the dawn; the darker the night time gets, light gets nearer to appear. It really is time for the stakeholders to believe, think deeply through the darkness about the continuing future of both SMEs and entrepreneurs. Especially, the stakeholders should research, learn, and strategize about how precisely they plan to provide the entrepreneurs with additional support that they need to keep their dream afloat. 

It is paramount to keep in mind that entrepreneurs are the kinds who, when mentored, supported, and given the proper resources, could cause an strong positive turnaround of the economy, for their idea was never there before in the market. These visionaries’ ideas should be protected at all cost.
Source: dhakatribune.com//opinionop-ed

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