Covid-19 impact on Bangladesh SMEs: ‘Available, easy financing essential for SME recovery’ | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Tuesday
September 26, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
TUESDAY, SEPTEMBER 26, 2023
‘Available, easy financing essential for SME recovery’

Economy

TBS Report
18 August, 2020, 09:50 pm
Last modified: 19 August, 2020, 11:41 am

Related News

  • SME neglected in foreign trade finance: Study
  • Sri Lanka to work with SME Foundation to develop SME sector in Bangladesh
  • Zatiq wants to simplify accounting for SMEs, but it's easier said than done
  • FM Plastic withdraws SME board listing application
  • Global South getting 20 times more financing in fossil fuel industries than climate solutions: Study

‘Available, easy financing essential for SME recovery’

Experts also stressed the importance of bringing SME entrepreneurs on a single platform and build their capacity for online-based business activities

TBS Report
18 August, 2020, 09:50 pm
Last modified: 19 August, 2020, 11:41 am
Photo: Mumit M/TBS
Photo: Mumit M/TBS

Ensuring available and easy financing for the small and medium enterprises (SMEs) will be an important step in helping them to recover from the adverse effects of the Covid-19 pandemic.

Policymakers, development experts and panellists made the suggestion at a policy dialogue titled "SMEs in Covid-19: Response, Recover and Resilience" over a virtual platform.

Aspire to Innovate (a2i) Programme of the Information and Communication Technology Division and the Cabinet Division, supported by the United Nations Development Programme in partnership with the Action Aid Bangladesh, jointly hosted the dialogue.

Md Mostaque Hassan, chairman (additional secretary) of Bangladesh Small and Cottage Industries Corporation, spoke as the chief guest while Joint Project Director (Joint Secretary) of a2i Salina Pervez chaired the programme moderated by Anir Chowdhury, policy advisor of a2i.

Speakers discussed the challenges faced by the SMEs during the crisis as well as the responses to help the sector recover from the pandemic effects.

Mostaque Hassan said there should be a recovery fund to help the sector recover. Furthermore, restrictions imposed by banks should be eased to help SME entrepreneurs get loans.

Md Shafiqul Islam, managing director of the Small and Medium Enterprise Foundation, stressed the importance of bringing SME entrepreneurs on a single platform and build their capacity for online-based business.

"We need to expand the market through the use of technology and conduct social campaigns to market our products and incorporate policies to facilitate an enabling environment for SMEs," he said.

Farah Kabir, country director of Action Aid Bangladesh, focused on the significance of policy reforms, funding, digitisation and capacity development for the SMEs to recover from the losses caused by the pandemic.

She said the government needs to establish a recovery fund especially for the SMEs as they are very important contributors to the economy.

"Similarly, SME entrepreneurs should be brought under the umbrella of digitisation, and their capacity should be developed accordingly. Furthermore, women and youth entrepreneurs should be encouraged," she added.

Group sessions were also held on following topics: apprenticeship, entrepreneurship, database of SMEs and SME financing.

Top News

Financing / SME

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Bangladesh Bank Governor Abdur Rouf Talukder. Photo: Collected
    Global Finance's report card: Why Bangladesh Bank governor got D. Who got A+?
  • EC allows journos to use motorcycles during elections taking prior permission
    EC allows journos to use motorcycles during elections taking prior permission
  • Economic zones to come under eco-friendly performance rating
    Economic zones to come under eco-friendly performance rating

MOST VIEWED

  • Photo: Courtesy
    BPL 2024: Updated squads of all 7 teams
  • DMP Commissioner Khandaker Golam Faruq. Photo: Collected
    DMP Commissioner Khandker Golam Faruq sent on retirement
  • Dollar rates raised to Tk110 for remitters, exporters
    Dollar rates raised to Tk110 for remitters, exporters
  • Will US visa restrictions have any impact on business?
    Will US visa restrictions have any impact on business?
  • The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause
    Fitch now rates Bangladesh's foreign debt outlook negative
  • Photo: Collected
    Railway launches intercity goods van service

Related News

  • SME neglected in foreign trade finance: Study
  • Sri Lanka to work with SME Foundation to develop SME sector in Bangladesh
  • Zatiq wants to simplify accounting for SMEs, but it's easier said than done
  • FM Plastic withdraws SME board listing application
  • Global South getting 20 times more financing in fossil fuel industries than climate solutions: Study

Features

India-Canada clash should be a wakeup call

India-Canada clash should be a wakeup call

5h | Panorama
It is highly unlikely that inflation rate is going to come down soon. PHOTO: TBS

No more central bank loans to the govt: Will it be enough to curb inflation?

5h | Panorama
Why Bangladeshi patients flock to India

Why Bangladeshi patients flock to India

6h | Panorama
Nooruddin Complex: Of childhood, dreams and a sense of community

Nooruddin Complex: Of childhood, dreams and a sense of community

6h | Habitat

More Videos from TBS

Why people are so crazy for iPhone  around the world?

Why people are so crazy for iPhone around the world?

3h | Tech Talk
Some effective ways to relax the brain

Some effective ways to relax the brain

3h | TBS Stories
Comilla Victorians is the strongest team on paper

Comilla Victorians is the strongest team on paper

17h | TBS SPORTS
Van Leeuwen – from zero to multi-million dollar ice cream brand

Van Leeuwen – from zero to multi-million dollar ice cream brand

18h | TBS Stories
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]