PROBLEMS AND PROSPECTS OF BANGLADESHI ENTREPRENEURS IN INTERNATIONAL BUSINESS

 

Introduction: 

Four years ago Bangladesh was listed among LDCs. But the situation has been changed. Now the country in considered as a developing country so, it is sure that some changes happened during the near past. The thing that happened is nothing but socioeconomic development. It happened due to changes in manufacturing and service sectors. And it is definite that people of this sector have done this revolution. Mostly, the men behind our small and medium enterprises should get the credit. Because, there are no large industry in our country. In real context, the problem arises from this point .In international business; the limit is outside the boundary of the country. It is possible to do business over the globe for a large Company. But, till now we have not a single company which can do cross border business. It is a matter of great discussion. We must discuss the problems of Bangladeshi entrepreneurs in international business as well as their prospects. But before the discussion, we want to present some facts and figures in this regard.

Facts and Figures:

 

Bangladesh, a country of 160 million people, is the 8^th largest country among 191 countries of the world. It is ranked as 33 among 191 countries as per its GDP. GDP has been doubled during the last two decades. It is now enjoying the degree of openness in international trade is (% of GDP) at 43.3% which was only 16.8% in 1991 and 13.5% in 1981. The degree of global integration as measured through the external sector is double. FDI and debt accounts in relation to GDP were 55.6% in 2007 compared to 21.2% in 1981.

Considering as one of the most popular countries, Bangladesh has a large domestic market. There are a huge number of consumers. We can affect our national and international business. But having such types of advantages, we have failed to create a good numbers of entrepreneurs who can dominate international business. The issue needs further discussion. We will now discuss the problems and prospects of Bangladeshi Entrepreneurs in international business                

Problems: 

Problems include many factors. Most of them are i) poor  transportation Facilities ii) lack of entrepreneurship education and training iii) financial assistance iv) hartal and strikes v) law and order situation vi) bureaucracy vii) lack of control of corruption viii) lack of adequate investment ix) lack of government support and assistance x) lack of resource and development xi) inadequate information xii) inability to forecast demand xiii) frequent power failure xiv) inadequate telecommunication service xv) fear of failure xvi) lack of technology xvi) poor legal and regulatory framework  xvii) lack of skilled workers xix) poor quality and standard  xx) lack of courage for starting a business xxi) failure of our testing institutions xxii) inefficient market practices xxiii) lack of Bangladeshi origin multinationals.

The list of problems may be larger but these are not all. If we analyze our past and consider our tradition, when any Bangladeshi company starts to get its shape and dimension, it is a matter of great regret that corruption inside the company and outside the company increases beyond at par. It destroys all good efforts.

Actually, to be an entrepreneur, a person should be well educated, well trained, a man of principle, a man of good courage and obviously a man who has the dream to be a merchant. But we are always lagging behind such type of qualities. 

The country, as well as, every person of the country has some responsibilities for building the nation. Development and excellence in manufacturing and service sector can help a lot to build a nation. So we all should provide support to entrepreneurs. But the environment is negative for entrepreneurs. He always  fights a lot in everywhere. 

Prospects: 

Only success in domestic level can help a company to be an international one. But it is very hard, now a day, to be a successful company in our country. Besides all negatives, we have some light of hope in front of us. 

The problems we discussed earlier are our main obstacles. But if we become able to eradicate these problems all of our disadvantages can be our advantages. So, steps should be taken first from our home. If we are able to make some Bangladeshi companies successful in the domestic level then we can hope that if proper nourishment is possible then they will be able to be such entrepreneurs who will be successful in international business. 

Government should take the first step. It should fix its policy in such a way which can help any company to be an international one. Relationship among all levels should be established. The company should join different regional and international groups, pacts ad organizations. It should pave the way in such a way that can be very helpful for the entrepreneurs.

We still have some prospects in our hand. We may summarize them in such a type that can clear our motif. First of all our large population creates one of the largest markets of the world. It is our great advantage. We can set condition for any foreign company that if you want to business in our market you should allow our companies in your market.

We have a huge number of manpower. We can make them skilled so that they can support our companies from top to bottom. Our skilled manpower who are working all over the world in different multinationals can help us by sharing their experiences and ability.

Bangladesh has done a lot of development during the last three decades. It is now enjoying a semi-stable economy with a mentionable growth. Its GDP is remarkable. It is developing its infrastructure at a good pace. The country is now enjoying such a good road and transportation network. All of them are good signs for entrepreneurs. The world is a global village. The digital network is dominating the whole world. Bangladesh is not lagging behind of it. Almost all the country is under the digital network. All the departments of our government is now under digital network. The country is enjoying digital information system. It can help a lot to our entrepreneurs to be international businessmen. 

The socio-economic condition of the country is as good as it should be. It is better than any time is the past. So it is right time for Bangladeshi entrepreneurs to be international.

Bangladesh is considered as one of the rising economy of the world. It is called the next lion of Asia. It is enjoying good bi-lateral and multi -lateral relationship throughout the world. This position can be utilized as our good advantages.

Our government has taken many steps both in domestic and in international level. A good number of world’s leading countries are implementing projects in Bangladesh. It is a good sign for our being international.

Most of the entire world has a focus on Bangladesh. Its recent success ensures its position. Al least it can be a dominating one in regional level.

Conclusion:

Every issue has its problems and prospects. Our issue has also its own advantages and dis advantages. We tied our level lest to find out them. But this is not all. We will be success we can change our disadvantages to our advantages. If our problems have become our prospects our tangle will be fulfilled. Efforts from all levels are very necessary. We should not depend only our government. We have some responsibilities also. Our entrepreneurs have some duties and responsibilities also. Actually, they should shoulder the main responsibilities. We should help them. Then the mission will be successful. We hope in near future Bangladesh will get at best a minimum number of companies which will dominate international business. May be it is PRAN group, Grameen-Danone, Ekhanei.com or any.