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Volume 10 Issue 11
November-2023
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2311255


Registration ID:
528075

Page Number

c394-c400

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Title

The Impact of SMEs on Economic Development of Bangladesh

Abstract

The growth of the economy can be attributed to the positive shifts - from agricultural-based to industrial-based, from input-driven to productivity-driven, and from traditional to knowledge-based-technology-orientated economy. Small and medium enterprises (SMEs) have been playing an essential role in the development of the economy of Bangladesh, and it can be claimed that it is the backbone of industrial development in the country. This paper attempts to discuss the extent to which the economy has benefited from the expansion of the SME sector and identifies the contribution of the SME Foundation in the process of uplifting and flourishing SMEs. The SME Foundation has been doing a remarkable job in this regard with continuous endeavors to facilitate innovation of new products, the introduction of new production technologies, marketing of goods and services, skills development training, advocacy, policy formulation, and linkage with national and international organizations. The study reveals that the development of the SME sector played a major role in contributing to the economic growth through providing support to the existing SMEs, creating non-traditional opportunities, generating employment, making the labor force more skilled and effective through training, enhancing labor productivity, and improving product and services quality. SMEs are accounting for 25% of the GDP of Bangladesh and 80% of total industrial jobs; and therefore, significantly has been contributing to 6% to 8% of the economic growth rate in the last decade.

Key Words

Bangladesh, Economic Growth, Small and Medium Enterprises (SME), SME development

Cite This Article

"The Impact of SMEs on Economic Development of Bangladesh", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 11, page no.c394-c400, November-2023, Available :http://www.jetir.org/papers/JETIR2311255.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"The Impact of SMEs on Economic Development of Bangladesh", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 11, page no. ppc394-c400, November-2023, Available at : http://www.jetir.org/papers/JETIR2311255.pdf

Publication Details

Published Paper ID: JETIR2311255
Registration ID: 528075
Published In: Volume 10 | Issue 11 | Year November-2023
DOI (Digital Object Identifier):
Page No: c394-c400
Country: Dhaka, Dhaka, Bangladesh .
Area: Commerce
ISSN Number: 2349-5162
Publisher: IJ Publication


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