Microenterprise: An innovative way of earning

Unemployment, one of the biggest problem people of 21st century are facing. Bangladesh is no exception to that. With a growing population, getting a job is becoming a challenge.

From a recent report, around 11 lac educated people of Bangladesh are unemployed. Inadequate numbers of job places can be identified as the main reason. To overcome this crisis, micro enterprises are playing an important role.

The term microenterprise also known as micro business refers to small business that employs few people. These small businesses often targets to provide service for their local people.

Micro business in perfectly suitable for the densely populated countries like Bangladesh. SME sector provides opportunity and creates environments for the young people to start their own business as well as encourage others.

 According to a recent bank report , close to 99 percent of non-farm enterprises in the country are from micro enterprises. In 2013,SME sector created over 20 million jobs for Bangladeshi workers. By far, Bangladesh has been a global attraction  for micro entrepreneurs. This sector is definitely making praiseworthy contribution in our economic growth.

However, micro businesses often faces difficulties to collect funds for their business needs at the very beginning. Though banks lending has tripled over the years, still many micro entrepreneurs are facing difficulties to find a reliable sources to get funds.

As the saying, ‘Nothing is impossible’, there are always alternate ways to approach. Nowadays many organization provides funds to micro business which are starting from scratch. With a proper plan and investment scheme you can get one.

There are many small business ideas that can help to make a good profit. Bangladesh is primarily an agricultural country, which makes agro-based business ideas very prospective. For example,

Fast food shop; a very profitable business if you can ensure good service. Bangladeshi people are great foodies. With a variation in cuisine there is a good chance to be on demand. Selecting a good location plays an important role in this sector.

Garment business; Bangladesh is one of the top exporters of garments globally. Many small businesses set up on garments sectors are getting a good amount of profit. Apart from that you can also sell garment raw material and accessories like needles, button, pin, zip etc.

Other than that coffee shop business, virtual trade, blogging, photography, online book, packaging, printing, social media manager are some of the trending ideas in micro business.

   Specially the female entrepreneurs are highly encouraged to start their own small business. Even many organizations are constantly working to make it possible. Online cloth sell, delivering home made foods etc are some of the popular ideas to start a business.

Here, ‘ Project SolarPreneur’ an initiative taken by Liter of Light Bangladesh can be mentioned. It is an enterprise Development Program,  where underprivileged youths are trained to make solar lights. So that they can earn their livelihood by it. This program was started from January 2020 at Teknaf. Underprivileged youth  whom are unemployed in Teknaf, are trained to produce solar lamps and streetlights to provide it to International NGOs and UN organizations so that they can distribute free-of-cost to underprivileged community.

With the passing days, the popularity and the necessity of microbusiness is growing. Rather than being depended on others, people are getting encouraged to start their own business. Companies that make millions now were once  a small business too. 

Getting out of the traditional way and starting something your own may sound really scary. With a strong determination, proper planning and  guidance your small business will sure make wonders in future.

You have the spread, talent, capability of taking small risk then why not start own small business rather than waiting for the interview call you were about to receive last week? After few years this small step of yours might become bigger if you utilize your money, time, patience and knowledge.

So what’s stopping you from starting your own business? Be an asset of the country instead of a  burden. Happy enterprising!

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