Ideas, Themes, Symbols, and Symbolism in Siddhartha :: Hesse Siddhartha Essays

Siddhartha: Ideas, Themes, and Symbols This novel had the constant presence of the philosophy of Buddha. From the beginning to the end, Siddhartha was in search of Nirvana. He repetitively showed dissatisfaction to each of his new lifestyles and had to move on in his search. This philosophy was emphasized greatly at the climax, when Siddhartha attempted suicide but heard the all-knowing "Om" from within himself. By the end, both he and his friend, Govinda, had reached enlightenment. All of the characters lived in their own satisfying world. Everyone had reached his own destiny, everyone had reached his own Nirvana.       The novel had a faint cyclic theme to it. The main character led an ascetic, pure lifestyle. He then turned to a materialistic world, and finally returned to the ascetic life. He had lived with the Samanas, a group of ascetics who lived in the forest. He moved on to the town of Samsara where he fell in love with a beautiful woman, became a rich merchant, and lived life in luxury. In his return to the ascetic life, Siddhartha became a ferryman and lived by the river until the end of this book. He was happiest there, learning from this great river. This theme was also evident when his young son left him to pursue other interests. It reminded Siddhartha of when he had left his own father. Though this theme was never explicitly mentioned by the author, the intent may have been to have such truths embedded in the reader's subconscious.       The most important theme was the self-discovery of the protagonist. The reader is brought into the life of this young man and is shown all of the high and low points. From the very beginning of this novel, Siddhartha was in search for the truth. What he had in store for himself was many years of discontent, but finally he found what he was looking for. It was at the river where Siddhartha found the meaning of life. For many years after his attempted suicide, he remained by the river and learned the secrets of the world.       A major symbol was the magical river that Siddhartha crossed   several times. It represented the boundary between the ascetic world and the materialistic world. He had to cross this river to get from the world of the Samanas (the ascetics) and the town of Samsara (where his lover and merchant mentor was).

Growing afraid Essay

Pip describes the afternoon as being â€Å"raw†, which describes the bitterness of the weather, the weather is almost attacking Pip. The graveyard can be described as very old because â€Å"overgrown with nettles† lays a churchyard, which is uncared for and in an instant it could just crumble away. Pip again adds significant words, as he repeats all of the names on the gravestones, â€Å"Alexander, Bartholomew, Abraham, Tobias and Roger† that have died in this harsh place, Pip reads it as if it were a list with so many people there, who have been there for a long period of time. â€Å"Dark, flat, wilderness beyond the churchyard† again explains the lack of community and the Isolation around the area. Dickens personifies wind as the â€Å"wind was rushing†, as if it were â€Å"rushing† to get Pip who was at the time a â€Å"small bundle of shivers† growing afraid. The marshlands had an effect not only on Pip, but the convict also, the convict had been â€Å"smothered in mud and lamed by stones and cut by flints, and stung by nettles and torn by briars†, showing he had escaped for a long time and had spent most of his time hiding in the marshlands. As the convict roughly treats Pip, he tilts him over, gradually down to the floor, he gives Pip a greater â€Å"sense of helplessness and danger† which adds to the atmosphere significantly. Toward the end of the chapter, a sad atmosphere is created, as the convict â€Å"hugged his shuddering body in both arms clasping himself as if to hold himself together†. The convict limps toward the â€Å"low church wall† producing an image of one who is close to death. Pip creates another childish imagination but this one describes the dead rising up â€Å"stretching up cautiously out of their graves†, showing how much fear he had in him at the time. The marshes are depicted as just a â€Å"long black horizontal line† with the sky being â€Å"just like a row of long angry red lines and dense black lines intermixed†, describing the darkness, and anger in Pip’s world. Charles Dickens leaves you with eerie images of death, of a limping man, as if he were a â€Å"pirate come to life and come down and going back to hook himself up again. We are introduced to Miss Havisham first as an â€Å"immensely rich and grim lady†, a notorious woman who lived in a large house that was heavily barricaded against robbers. She is described as living a life of â€Å"seclusion† which leads us to believe that she is isolated, miserable and depressed. Pip describes her as being the â€Å"strangest lady† he had ever seen. She was dressed in rich materials, satins, lace and silks, all that are symbols of wealth. She had a â€Å"long white veil dependent from her hair† which makes us believe that she is a bit odd wearing bridal wear for no apparent reason. Her hair was white which symbolizes that she is quite old. Another symbol of wealth is created because she had some bright jewels sparkling around her neck. Pip states that the â€Å"bride within the bridal dress had withered like the dress† which is another clue to her being quite old. We are given another unhealthy image of Miss Havisham, of her dying, the book reflects this by stating that there was â€Å"no brightness left but the brightness of her sunken eyes† and her figure had â€Å"hung loose† and had â€Å"shrunk to skin and bone†. She states that she had never seen the sun since she was born, this makes the reader feel that she is again isolated and hiding away from life outside. She is also a cold-hearted person, because she says that her heart was broken with an eager look on her face. We learn that she despises adults, and that she acts like a child, the novel portrays this by stating that she has â€Å"sick fancies† and she orders Pip with an â€Å"impatient movement of the hand† to play. When Estella came to play with Pip, Miss Havisham says to Estella that she can break Pips heart, this indicates that Miss Havisham has set out to seek revenge on men, and that is one of the reasons why she brought Pip to her house. There is a sense that life has ceased for Miss Havisham, the book shows this by stating that her silk stocking â€Å"once white, now yellow had been trodden ragged†. Pip says that the frillings and trimmings on her bridal dress looked like â€Å"earthy paper† which describes it as being fragile, like Miss Havisham herself. After Pip had finished playing cards with Estella, Miss Havisham states â€Å"You shall go home soon†, â€Å"Play the game out† this illustrates to the reader that she is depressed and emotionally hurt, and is not to used to the company of others, so she sends him away. She had an appearance of â€Å"dropped body and soul, within and without, under the weight of a crushing blow† which leads us to believe that the marriage which didn’t take place, has caused her to drop her body and drop her soul. Miss Havisham once again thinks highly of herself, acting as if she owns Pip, she expresses this by stating â€Å"When shall I have you here again? â€Å". We also learn that she is a misguided woman because she says she doesn’t know anything about the days of the week, or the weeks of the year. We first learn that Estella is selfish and speaks in an scornful manner to anyone she isn’t familiar with, the evidence of this is that after Pip politely said that she could go in first, she replied by saying â€Å"Don’t be ridiculous boy; I am not going in† and she also left Pip in the dark by taking the candle with her. When Pip called her name out to play with him, she didn’t come straight away, she took her time, deliberately trying to be awkward. When Miss Havisham tried the jewel on Estella, she obviously had intentions for her to get married. Estella thinks she is better than Pip, the evidence of this is that when she was ordered by Miss Havisham to play with Pip, she replied â€Å"With this boy! Why he is a common labouring boy! â€Å". When Estella asked Pip what games he played, she asked it in the â€Å"greatest disdain† which makes us believe she is strict and again scornful and looks down on lower classes. Estella is used as a weapon, a heartbreaker by Miss Havisham, who as we know wants to treat men as she was treated, Miss havisham illustrates this by stating â€Å"beggar him† to Estella. Estella has no respect for Pip and thinks highly of herself and no one else, the evidence of this is that she says, â€Å"he calls the knaves, jacks this boy! † and â€Å"what coarse hands he has†. This leaves an effect on Pip as he becomes ashamed of his hands. She was watching Pip creating tension, trying to make him do wrong, so that she could insult him more on his faults. Pip tells us this by stating â€Å"she was lying in wait for me to do wrong; and she denounced me for a stupid, clumsy labouring boy† As Pip was whispering to Miss Havisham, even though she wasn’t saying anything, Estella was making Pip say nice things about her with her eyes, the evidence of this is that she was looking at Pip with look of â€Å"supreme aversion†. As the game between Pip and Estella finished, Estella threw all of the cards down as if she â€Å"despised† them for having been won of Pip, this shows that Estella is spiteful, treats Pip disdainfully and she is very proud. Estella was to told feed Pip, so she put the food down on the ground without looking at Pip as if Pip was a â€Å"dog in disgrace†, this shows that Estella again thinks Pip as being lower class and she has contempt for Pip. Estella had made Pip cry, she looked at him with quick delight as being the cause of the tears, this proves she has no feelings and is satisfied for making him cry, this makes her not a likeable character at all. The first Impressions of Miss Havisham`s house is that it is a huge house filled with mystery, â€Å"dismal house, barricaded against robbers† which reflects the owner’s feelings. The house can furthermore be described as bleak and nervous for anyone who approaches it, with its â€Å"great front entrance† having two chains across it. It is a dark, gloomy place, with a sense of bad experiences. The text tells us this by stating, â€Å"the passages were all dark†¦ and still it was dark, and only the candle lighted us†. Miss Havisham`s room was also dark, she obviously prefers darkness, and all of the candles represent the light in the room, the evidence of this is that â€Å"a pretty large room, well lighted with candles† and â€Å"no glimpse of daylight was to be seen in it†. There is a sense of chaos in the room as everything is untidy, dresses and half-packed trunks were scattered about also Miss Havisham only had one shoe on. Everything was left as it was years ago, â€Å"all confusedly heaped about the looking glass†. Pip relates Miss Havisham to a waxwork he had once seen, with her skin sallow. He also makes a reference to death by describing a skeleton in the ashes of a rich dress. Miss Havisham is almost a ghost in her own house, the evidence of this is that â€Å"waxwork and skeleton seemed to have dark eyes that moved†. All of the watches and clocks in her room had stopped at twenty minutes to nine, which is deliberate and could be linked with her marriage that didn’t take place. Pip is made to feel vulnerable, he has no choice but to do what Miss Havisham says, this is because he had the â€Å"desperate idea of starting round the room† meaning that he had to embarrass himself in front of Miss Havisham. She asked Pip if he was sullen and obstinate, he is obviously very misunderstood. Miss Havisham becomes frustrated with him and pitiful for him, the book expresses this by stating â€Å"So new to him† â€Å"So old to me† â€Å"So melancholy to both of us! † Miss Havisham again makes Pip feel discomfort as he is made to shout out â€Å"Estella† in a dark and â€Å"mysterious passage of an un-known house† again he is made to embarrass himself. Another sense that life has seized for Miss Havisham is that there are â€Å"pale, decayed objects† which also creates a deathly and unsettling atmosphere. Pip also describes her clothes as â€Å"grave-clothes† and her â€Å"long veil looking like a shroud† both of which are linked with a corpse. As Pip leaves Miss Havisham`s house, he states that the â€Å"rush of daylight† quite confounded him, this is another clue that the house is a very dark place. Toward the end of the chapter, we feel pity for Pip, because Estella treats him so badly, but he is strong because he refuses to cry in the presence of her, even though his feelings are â€Å"bitter†. This also shows that he wishes he had come from a family who were more of an upper class, than the family he was brought up with, because then maybe Estella would have treated him better.

The Present Scenario of Smes in Bangladesh

Assignment On The Present Scenario of SMEs in Bangladesh The Report Presented to the Faculty of Business Administration in Partial Fulfillment of the Requirements for Degree of Bachelor of Business Administration Submitted To Dr. A K H Helaluz Zaman Course Instructor Faculty of Business, ASA University Bangladesh (ASAUB) Course Title: Entrepreneurship Development Course Code: MGT-321 Submitted By Name | ID| Section| Al-amin| 101-12-0054| 9B| Md. Alauddin Al Mahdi| 101-12-0064| 9B| Hyder Hossain| 101-12-0062| 9B| Nilufa Yesmin| 101-12-0067| 9B| Rashiduzzaman| 093-12-0035| 9B| ASA University Bangladesh (ASAUB) Date: 07 August 2012 ———————————————— Letter of Transmittal Date: 07/08/2012 To Dr. A K H Helaluz Zaman Course instructor Faculty of Business, ASA University Bangladesh (ASAUB) Subject: Submission of the Group Assignment . Sir, It is our pleasure to submit the report on â€Å"The Present Scenario of SMEs in Bangladesh† as a part of our course â€Å"Entrepreneurship Development† We have enjoyed preparing this assignment which enriched our practical knowledge of the theoretical concept. We tried to reflect the practical operational aspects of the organization which is complementary to the theoretical lessons.Should you need any further information to evaluate the assignment, it would be our immense pleasure to furnish you the same. Sincerely Yours Name| ID| Section| Signature| Al-amin| 101-12-0054| 9B| | Md. Alauddin Al Mahdi| 101-12-0064| 9B| | Hyder Hossain| 101-12-0062| 9B| | Nilufa Yesmin| 101-12-0067| 9B| | Rashiduzzaman| 093-12-0035| 9B| | ————————————————- ————————————————- Acknowledgement Preparing this term paper on â€Å"The Present Scenario of SMEs in Bangladesh† was a wonderful experience for our. At fast we would like to thank almighty Allah to carry on our work.We would like to thank our faculty member, Dr. A K H Helaluz Zaman , course instructor, Faculty of Business ASA University Bangladesh for giving our this opportunity as well as for his constant guidance and support. Finally we would like to thank our family for supporting our courage to carry on our work. It was a practical experience for us. Executive Summary Bangladesh is s developing country. Its per capita income is only $750 and per capita GDP is $684 and present GDP growth rate is 6%. Most of the people are living in the below of poverty line. Poverty as like as curse for our country.To remove poverty government and other organization such as NGOs, Bank has taken many steps. Bangladesh Government has taken Millennium Development Goals (MDGs) programs that first goals is eradicate extreme poverty and hunger. Th ey also have written Poverty Reduction Strategy paper (PRSP) to remove poverty. To achieve the committed MDGs and PRSP, Bangladesh must strive to expend employment creation opportunities very rapidly. For this government have formed SMEs Foundation. SMEs means Small and Medium enterprises, it can be defined as enterprises which have at most 250 employees and an annual turnover not exceeding 50 million Euros.Further there is the distinction of Small enterprise- they fewer than 50 staff members and less than 10 million Euros turnover- and micro- enterprises (less than 10 persons and 2 million Euros turnover). Different countries and organizations define SME differently. The government of Bangladesh has categorized SME into two broad classes (a) manufacturing enterprise and (b) non manufacturing activities. Manufacturing enterprises can be divided into two categories (a) Small enterprise and (b) Medium enterprise.Non-manufacturing activities also can be divided into two categories (a) Small enterprise and (b) Medium enterprise. According to Bangladesh Bureau of Statistics different enterprises are defined as Micro industry that number of employees is 0-9, small has 10-49 employees, Medium has 50-99 employees and Large above 99 employees. To complete this assignment we have collected data from the secondary source such as internet, books, journal etc. The objectives of the study are to appraise the present situation of SME in Bangladesh, to identify the problems of SME in Bangladesh and recommend solutions to overcome the problems.Small and Medium Enterprises (SMEs), by producing exportable surpluses of commodities together with local value additions and creation of employment opportunities, can make significant contribution to the economy of Bangladesh. Although financing of SMEs in off-farm rural economic activities are largely dependent on equity financing from personal and family savings, currently banks and financial institutions are also coming forward to pr ovide finance to this sector. As the large potential of employment generation by SMEs has attracted attention of the policy makers, a range of initiatives for channeling loans to SMEs are being taken.The Government has taken up programs to provide financial assistance to expand SMEs through commercial banks. Alongside the disbursement of loans, since FY2004-05, Bangladesh Bank has taken up a scheme of Tk. 100 crore for refinancing the scheduled banks and financial institutions as revolving fund. Recently, the scheme has been widened with an enhanced allocation of Tk. 600 crore. Up to June 2009, Tk. 716. 44 crore and up to December 2009 Tk. 853. 15 has been disbursed among 17 scheduled banks and 21financial institutions for refinancing potential entrepreneurs.In addition to this, IDA has provided US$10 million and the Government of Bangladesh has provided Tk. 112. 32 crore through ‘Enterprises Growth and Bank Modernization Project (EGBMP)’. With the stipulated revolving fund of Tk. 224. 50 crore up to June 2009 and Tk. 244. 14 crore up to December 2009 refinancing facilities among 2541 potential entrepreneurs have been provided to 15 schedule banks and 14 financial institutions. Moreover, in an attempt to provide incentives to the sector, ADB has been providing an additional US$30 million to Bangladesh Bank and Tk. 34. 94 up to December 2009 refinancing facilities among 3264 potential entrepreneurs have been provided to 9 schedule banks and 7 financial institutions. These resources would contribute both in employment generation as well as in enhancing the purchasing power of the poor. It is found that micro enterprises run by up to 10 workers contribute the most which is 86% of the total contribution from SMEs to GDP of Bangladesh. It is also observed that micro enterprises run by more than 21 workers contribute about 7% of total contribution from SME to GDP of Bangladesh.It is reflected from the table that manufacturing sector contributes the high est contribution in GDP i. e. , 38%. It is also observed from the table that agriculture and wholesale and retail sector contribute more than 22 percent in the GDP of Bangladesh. We also show the growth pattern of SME. It is observed that during 2001-2002 to 2004-2005 in every financial year the growth rate of SME is about 7%. In 2005-2006 the growth rate was 9. 21%. The highest growth was in 2006-2007 i. e. 10. 28%. Quantum Index of Production for Medium to Large Scale Manufacturing Industries in 2009-10 is 431. 51.We also found some major problems these are Resource scarcity, High employee turnover, Absence of modern technology, Poor physical infrastructure, Financial constraints, Lack of uniform definition, Lack of information, Lack of entrepreneurship skills, Participation of women entrepreneurs, Access to Market and lack of awareness regarding the importance of marketing tool, Bureaucracy, Absence of transparent legal system, Lack of commitment to innovation and customer satisf action, Lack of quality assurance, Lack of research and development facilities, Fierce competition with the cheaper foreign goods.We also provide some recommendation that mention in the Recommendation chapter. At last we conclusion our assignment on the conclusion chapter. Small and medium enterprises (SMEs) act as a vital player for the economic growth, poverty alleviation and rapid industrialization of the developing countries like Bangladesh. SMEs are significant in underlying country’s economic growth, employment generation and accelerated industrialization. Government of Bangladesh has highlighted the importance of SME in the Industrial Policy-2005.SME has identified by the Ministry of Industries as a ‘thrust sector’. As the SME sector is labor intensive, it can create more employment opportunities. For this reason government of Bangladesh has recognized SME as a poverty alleviation tool. SME also foster the development of entrepreneurial skills and innovati on. Along with poverty alleviation SME can reduce the urban migration and increased cash flow in rural areas. As a result it will enhance the standard of living in rural areas. Performance of SMEs in Bangladesh is significantly found below the level of international standard.Although government of Bangladesh has taken some initiative to ensure the growth of SME but those steps are not enough at all. Keywords: SME, Finance, Employee, Capital Table of Contents Contents Pages Title Fly†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1 Title Page†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦2 Letter of Transmittal†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦. 3 Acknowledgement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (5-7) Table of Contents†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 Chapter NameChapter 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (9-15) Chapter 2 Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 Chapter 3 Analysis and Interpret Data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (17-27) Chapter 4 Findings and Results†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (28-30) Chapter 5 Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦ (31-32) Chapter 6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦.. 33 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦34 Chapter 1 Introduction Bangladesh is a developing country. Its per capita income is very low and its $750 and per capita GDP is $684. Its present GDP is 6%. Bangladesh economic review, 2009-10) Most of the people are living in the below of poverty line. Poverty is the main problem of our country. To remove poverty government has taken many steps such as Millennium Develop Goals, writing Poverty Reduction Strategy Paper (PRSP) etc. To achieve the committed Millennium Development Goals (MDGs) of 2015 or the targets of the National Strategy for Econom ic Growth, Poverty Reduction and Social Development, commonly known as the Poverty Reduction Strategy Paper (PRSP), the development process of Bangladesh must strive to expand employment creation opportunities very rapidly.The MDGs reflect the actions and targets contained in the Millennium Declaration that was adopted by 189 nations during the UN Millennium Summit in September 2000. Bangladesh has made noteworthy progress in the attainment of MDGs during 1990-2000. Bangladesh advancement towards MDGs is evident in human development, for example attainment of gender parity in primary and secondary school enrolment. Mid-way through to the 2015 target of MDGs attainment, Bangladesh has covered significant grounds and can safely be said to be on track in relation to most of the targets.A midterm review of progress at the aggregate level shows that Bangladesh is making progressive strides in reducing poverty, already bringing down the poverty gap ratio to 9 against 2015 target of 8 with the rate of poverty reduction being 1. 34 percent in relation to the required rate of 1. 23 percent. The main goals are as following: Goal 1: Eradicate Extreme Poverty and Hunger Goal 2: Achieve Universal Primary Education Goal 3: Promote gender equity and Empower women Goal 4: Reduce Child Mortality Goal 5: Improve Maternal Health Goal 6: Combat HIV/AIDS, malaria and other diseasesGoal 7: Ensure environmental sustainability Goal 8: Develop a global partnership for development The scope of additional absorption of labor in agriculture being somewhat limited, the best potential for this lies in the manufacturing sector. To create job space government founded SME Foundation that provide loan and help to established small and medium enterprise. In the context of Bangladesh, the development of Small and Medium Enterprises (SMEs) can be considered as a vital instrument for poverty alleviation and ensure the rapid industrialization.In this paper we have tried to identify the problems of SMEs of Bangladesh. The performance of SMEs of Bangladesh especially in terms of employee turnover rate, quality assurance, allocation of funds, marketing activities have been found significantly below the international standard. The sector gets negligible support from government. The rate of development of SME is not up to the expectation. In order to overcome the problems a few suggestions for the development of SMEs are given by us. 1. 1 Scope and Delimitation of the Study This topic SMEs is a very important in the context of Bangladesh.It help us the gather practical experience and we are to know that the role of SMEs, Problems, prospective and their solution. But we have some limitation; it is we are collected data from secondary source, basically internet using. We do not conduct face to face interview because, time was not enough for us to prepare this assignment. If we got enough time we think it will be help to prepare our assignment. 1. 2 Objectives of the Study In this pa per we have tried to identify the factors that influence the development and growth of the SME sector of Bangladesh. Thus the specific bjectives of the study are as follows: * To appraise the present situation of SME in Bangladesh. * To identify the problems of SME in Bangladesh. * To recommend solutions to overcome the problems. 1. 3 SME Definition SME: around the world According to the European Union (2003) SMEs are defined as enterprises which have at most 250 employees and an annual turnover not exceeding 50 million Euros. Further there is the distinction of small enterprises — they have fewer than 50 staff members and less than 10 million Euros turnover — and micro-enterprises (less than 10 persons and 2 million Euros turnover).According to the World Bank (2006) medium enterprises are defined as enterprises which have at most 300 employees and an annual turnover not exceeding 15 million US dollars. Further there is the distinction of small enterprises — the y have fewer than 50 staff members and up to 3 million US dollars turnover — and micro-enterprises have up to 10 persons and $100,000 turnover. In the UK, sections 382 and 465 of the Companies Act 2006 define a SME for the purpose of accounting requirements. According to this a small company is one that has a turnover of not more than ? . 6 million, a balance sheet total of not more than ? 2. 8 million and not more than 50 employees. A medium-sized company has a turnover of not more than ? 22. 8 million, a balance sheet total of not more than ? 11. 4 million and not more than 250 employees. It is worth noting that even within the UK this definition is not universally applied. In the USA, the definition of small business is set by a government department called the Small Business Administration (SBA) Size Standards Office.The SBA uses the term â€Å"size standards† to indicate the largest a concern can be in order to still be considered a small business, and therefore a ble to benefit from small business targeted funding. The concern cannot be dominant in its field, on a national basis. It must also be independently owned and operated. Unlike the UK and the European Union which have simple definitions applied to all industries, the US has chosen to set size standards for each individual NAICS coded industry. This variation is intended to reflect industry differences in a better way. The ost common size standards are 500 employees for most manufacturing and mining industries 100 employees for wholesale trade industries $6 million of annual receipts for most retail and service industries $28. 5 million of annual receipts for most general & heavy construction industries $12 million of receipts for all special trade contractors $0. 75 million of receipts for most agricultural industries. Breaking down the SME definition, Industry Canada defines a small business as one that has fewer than 100 employees (if the business is a goods-producing business) or fewer than 50 employees (if the business is a service-based business).A firm that has more employees than these cut-offs but fewer than 500 employees is classified as a medium-sized business. (www. about. com) In India the Small Scale Industries (SSIs) are industrial undertaking in which the investment in fixed assets in plant and machinery, whether held on ownership terms or on lease or by hire purchase does not exceed Rs. 10 million. The Small Scale Service And Business (Industry related) Enterprises (SSSBEs) are industry related service and business enterprises with investment in fixed assets, excluding land and building up to Ps. million. (Ministry of trade and Industry, Government of India) According to the SME bank of Pakistan, SME means an entity, ideally not a public limited company, which does not employ more than 205 persons (if it is manufacturing concern) and 50 persons (if it is trading/service concern) and also fulfils the following criteria of either ‘a’ and ‘c’ and ‘c’ or ‘b’ and ‘c’ as relevant; (a) A trading/service concern with total assets at cost excluding land and buildings up to Rs 50 million. b) A manufacturing concern with total assets at excluding land and buildings up to Rs 100 million. (c) Any concern (trading, service or manufacturing) with net sales not exceeding Rs 300 million as per latest financial statements. 1. 4 SME in Bangladesh Different countries and organizations define SME differently. The Government of Bangladesh has categorized SME into two broad classes 1. Manufacturing enterprise 2. Non Manufacturing activitiesManufacturing enterprise: Manufacturing enterprises can be divided into two categories; 1. Small enterprise: Small enterprise is an enterprise would be treated as small if, in current market prices, the replacement cost of plant, machinery and other parts/components, fixtures, support utility, and associated technical services by way of capitaliz ed costs (of turn-key consultancy services, for example), etc, excluding land and building, were to up to Tk. 15 million. 2.Medium enterprise: Medium enterprise an enterprise would be treated as medium if, in current market prices, the replacement cost of plant, machinery and other parts/components, fixtures, support utility, and associated technical services by way of capitalized costs (of turn-key consultancy services, for example), etc, excluding land and building, were to up to Tk. 100 million. Non-manufacturing activities (such as trading or other services): Non-manufacturing activities can be divided into two categories; 1.Small enterprise: Small enterprise is an enterprise should be treated as small if it has less than 25 workers, in full-time equivalents. 2. Medium enterprise: Medium enterprise an enterprise should be treated as small if it has between 25 and 100 employees. According to Bangladesh Bureau of Statistics different enterprises are defined as: Name of Industry| N o. of employees| Micro| 0-9| Small| 10-49| Medium| 50-99| Large| Above 99| The Ministry of Industries, Government of Bangladesh has been identified following 11 booster sectors: 1.Electronics and electrical 2. Software-development 3. Light engineering and metal-working 4. Agro-processing/agro-business/plantation agriculture/ specialist farming/tissue-culture 5. Leather-making and leather goods 6. Knitwear and ready-made garments 7. Plastics and other synthetics 8. Healthcare & diagnostics 9. Educational services 10. Pharmaceuticals/cosmetics/toiletries 11. Fashion-rich personal effects, wear and consumption goods. 1. 5 Literature ReviewWith respect to the SME sector of Bangladesh, foreign and national experts undertook some studies. Some of the notable ones are; Uddin (2008), Chowdhury (2007), Miah (2007), Ahmed (2006), MIDAS (2004), ICG (2003), Hallberg (2002). Uddin (2008) has stated that the economic efficiency and overall performance of the SMEs especially in the developing coun tries are considerably dependent upon macroeconomic policy environment and specific promotion policies pursued for their benefit.Chowdhury (2007) highlighted that in context of Bangladesh SME is characterized by Low capitalization and limited assets, geographical diversity and high mortality, poor credit knowledge, very limited access to formal source of credit, cash intensity in transactions, very limited record keeping habit, poor financial disclosure on account of tax issues, high risk perception has led to high borrowing costs.In a study about SME sector of Bangladesh Miah (2007) stated that the major constraints for SMEs are lack of adequate investment, lack of modern technology, high rate of interest on bank loans, irregular/inadequate supply of power, poor physical infrastructure and high transportation cost, poor information about market opportunities and requirements, inadequate availability of raw materials, lack of skilled technicians and workers, lack of research & devel opment facilities, fierce competition, absence of effective and transparent legal system, difficulties in accessing technology, credit constraints, low access to business services, constraint of quality of human resources, low awareness, low lobbying capacity, rapid changes in policy environment. Ahmed (2006) observed that availability of finance is a major constraint to formation and growth of SMEs in Bangladesh.Banks are reluctant to expand their SME credit portfolio because they do not consider SME lending an attractive and profitable undertaking. This is so because SMEs are regarded as high risk borrowers because of their low capitalization, insufficient assets and their inability to comply with collateral requirements of the banks. Administrative costs are also higher because close monitoring and supervision the SME operation becomes necessary. A study (2004) by Micro Industries Development Assistance and Services (MIDAS) revealed that sources of finance are mostly friends and family member in case of SME. MIDAS tried to identify the sources of funds of SMEs. These are: Table-1: Survey Result of MIDAS Source of Funds| Percentage of Finance| Informal sector| 41%|Family members| 20% (interest free)| 4% (with interest)| | NGO| 17%| Bank| 18%| According to Hallberg (2002), a stable macro-economy, an open trade and investment regime, and a competitive financial sector are argued to be most essential ingredients for a vibrant private sector. But with a law and order situation below the optimum level, corruption well above the level of acceptance and unstable political situation, the domestic environment of Bangladesh does not come to any help, rather hinders the prosperity of SME in this country. Chapter 2 Methodology This is basically a library research. Most of the data have been collected from secondary sources.So the research work has been based on published information and data available in any form such as books, journals, magazines, newspapers etc. devot ed to SME sector. Secondary information has been collected from Ministry of Industries, SME foundation, Bangladesh Bureau of Statistics, MIDAS, and Financial Institutions and from other SME related organizations. Relevant articles and literature in this context has also consulted. In this article we have analyzed the data of last six years of SMEs of Bangladesh. We have tried to analyze the performances of SMEs by applying simple statistical analysis i. e. , growth percentage, average etc. Chapter 3 Analysis and Interpret Data 3. Small and Medium Enterprises (SMEs) Small and Medium Enterprises (SMEs), by producing exportable surpluses of commodities together with local value additions and creation of employment opportunities, can make significant contribution to the economy of Bangladesh. Although financing of SMEs in off-farm rural economic activities are largely dependent on equity financing from personal and family savings, currently banks and financial institutions are also comi ng forward to provide finance to this sector. As the large potential of employment generation by SMEs has attracted attention of the policy makers, a range of initiatives for channeling loans to SMEs are being taken.The Government has taken up programs to provide financial assistance to expand SMEs through commercial banks. Alongside the disbursement of loans, since FY2004-05, Bangladesh Bank has taken up a scheme of Tk. 100 crore for refinancing the scheduled banks and financial institutions as revolving fund. Recently, the scheme has been widened with an enhanced allocation of Tk. 600 crore. Up to June 2009, Tk. 716. 44 crore and up to December 2009 Tk. 853. 15 has been disbursed among 17 scheduled banks and 21financial institutions for refinancing potential entrepreneurs. In addition to this, IDA has provided US$10 million and the Government of Bangladesh has provided Tk. 112. 32 crore through ‘Enterprises Growth and Bank Modernization Project (EGBMP)’.With the stipu lated revolving fund of Tk. 224. 50 crore up to June 2009 and Tk. 244. 14 crore up to December 2009 refinancing facilities among 2541 potential entrepreneurs have been provided to 15 schedule banks and 14 financial institutions. Moreover, in an attempt to provide incentives to the sector, ADB has been providing an additional US$30 million to Bangladesh Bank and Tk. 334. 94 up to December 2009 refinancing facilities among 3264 potential entrepreneurs have been provided to 9 schedule banks and 7 financial institutions. These resources would contribute both in employment generation as well as in enhancing the purchasing power of the poor.Detailed refinancing of Bangladesh Bank to various financial institutions and banks is shown at Table. Table-2: Summary Information on SME refinancing (up to June 2009)* Refinancing Source| Amount refinanced (in crore Taka)| No. of Beneficiary Enterprises| | Working Capital| Mid Term Loan| Long Term Loan| Total loan| Industrial Loan| Commercial Loan| S ervice| Total| Bangladesh Bank| 178. 48| 336. 40| 201. 56| 716. 44| 1724| 4150| 1127| 7001| IDA| 61. 51| 96. 40| 66. 59| 224. 50| 899| 1220| 358| 2477| ADB| 138. 68| 112. 82| 52. 75| 304. 25| 728| 1864| 331| 2923| Total| 378. 68| 545. 62| 320. 90| 1245. 20| 3351| 7234| 1816| 12401| (*Source: Bangladesh Economic Review 2008-0, Chapter 8, Industry)Table-3: Summary Information on SME Refinancing from Bangladesh Bank (up to June 2009)* (*Source: Bangladesh Economic Review 2009-2010) Table-4: Summary information on SME Refinancing from IDA (up to June 2009)* (*Source: Bangladesh Bank & Bangladesh Economic Review 2009-2010) Table-5: Summary Information on SME Refinancing from ADB (up to June 2009)* *(Source: Bangladesh Bank & Bangladesh Economic Review 2010) Table 8. 3 shows that up to June 2009, Bangladesh Bank and IDA have distributed Tk. 940. 94 crore as refinancing to 17 banks and 22 non-bank financial institutions. It may be mentioned that the fund has been disbursed (by the mentione d banks and financial institutions) to a total of 9478 SMEs earlier as loan. Out of the total loan, Tk. 239. 9 crore has been provided as working capital, Tk. 432. 79 crore as medium-term loan and Tk. 268. 15 crore as long-term loan. Table-6: Summary Information on SME refinancing (up to 31, March 2010)* | RefinancingSource| Amount of Refinancing (In Tk. Crore)| Number of financing enterprise (Sector wise)| | | Working capital| Mid term loan| Long term loan| Total loan| Industrial loan| Commercial loan| Service| Total| 1. | Bangladesh Bank Fund| 224. 80| 493. 79| 235. 70| 954. 28| 2443| 5844| 1537| 9824| 2| IDA Fund| 63. 71| 100. 74| 87. 26| 251. 71| 924| 1258| 402| 2584| 3| ADB Fund| 144. 48| 132. 27| 58. 19| 334. 94| 800| 2096| 368| 3264| | Total| 432. 99| 726. 80| 381. 15| 1540. 8| 4167| 9198| 2307| 15672| *(Source: Bangladesh Bank & Bangladesh Economic Review 2009-10, Chapter 8, Industry) Table-7: Summary information on SME Refinancing from Bangladesh Bank (up to June 2010)* | N ame of Banks/FIs Refinanced| Amount of Refinancing (In Tk. Crore)| No. of Beneficiary enterprises (Sector wise)| | | Working capital| Mid term loan| Long term loan| Total loan| Industrial loan| Commercial loan| Service| Total| 1. | Private banks(17)| 201. 43| 226. 43| 65. 98| 493. 84| 1257| 4469| 562| 6288| 2| Financing Institutes (22)| 23. 37| 267. 35| 169. 72| 460. 45| 1186| 1375| 975| 3536| | Total| 224. 80| 493. 79| 235. 70| 954. 8| 2883| 5844| 1537| 9824| *(Source: Bangladesh Bank & Bangladesh Economic Review 2009-10, Chapter 8, Industry) Table-8: Summary information on SME Refinancing from IDA (Up to June 2010)* | Name of Banks/FIs Refinanced| Amount of Refinancing (In Tk. Crore)| No. of Beneficiary enterprises (Sector wise)| | | Working capital| Mid term loan| Long term loan| Total loan| Industrial loan| Commercial loan| Service| Total| 1. | Private banks(15)| 57. 48| 67. 07| 24. 73| 149. 27| 688| 1167| 79| 1934| 2| Financing Institutes (14)| 6. 23| 33. 67| 62. 53| 102. 44| 2 36| 91| 323| 650| | Total| 63. 71| 100. 74| 87. 26| 251. 71| 924| 1258| 402| 2584| *(Source: Bangladesh Bank & Bangladesh Economic Review 2009-10, Chapter 8, Industry) Table-9: Summary information on SME Refinancing from ADB (Up to June 2010)* | Name of Banks/FIs Refinanced| Amount of Refinancing (In Tk.Crore)| No. of Beneficiary enterprises (Sector wise)| | | Working capital| Mid term loan| Long term loan| Total loan| Industrial loan| Commercial loan| Service| Total| 1. | Private banks(9)| 144. 32| 90. 95| 34. 17| 269. 44| 657| 1893| 155| 2705| 2| Financing Institutes (7)| 0. 16| 41. 32| 24. 02| 65. 50| 143| 203| 213| 559| | Total| 144. 48| 132. 27| 58. 19| 334. 94| 800| 2096| 368| 3268| *(Source: Bangladesh Bank & Bangladesh Economic Review 2009-10, Chapter 8, Industry) Table 8. 3 shows that up to March 2010, Bangladesh Bank and IDA have distributed Tk. 1205. 99 crore as refinancing to 17 banks and 22 non-bank financial institutions.It may be mentioned that the fund has been disbu rsed (by the mentioned banks and financial institutions) to a total of 12408 SMEs earlier as loan. Out of the total loan, Tk. 272. 70 crore has been provided as working capital, Tk. 519. 79 crore as medium-term loan and Tk. 304. 80 crore as long-term loan. 3. 2 Present Scenario of SME In 2003 the International Consultancy Group (ICG) of the UK, in collaboration with the Micro Industries Development Assistance and Services (MIDAS), conducted the National Private Sector Survey of Enterprises in Bangladesh. The survey results drew the conclusion that there were approximately 6 million Small and Medium Enterprises (SMEs), which included enterprises with p to 100 workers employing a total of 31 million people, equivalent to 40 per cent of the population of the country of age 15 years and above. The survey also found that the industrial structure of SMEs consisted of primarily wholesale and retail trade and repairs (40 per cent), production and sale of agricultural goods (22 percent), ser vices (15 percent), and manufacturing only (14 per cent). Thus the survey brought out the fact that the large untapped potential for expansion in manufacture and production could be exploited (or contributing more significantly to the national economy. Another vital findings of the survey under discussion was that SMEs contributed BDT 741 ($ 12. 5) billion i. e. early 25 per cent of the GDP (BDT 2,996 billion) in 2003. It is reflected from this survey that enterprises employing 2-5 workers contribute 51 percent share of the total SME contribution to the economy, followed by 26 percent by those having only one worker and 10 per cent by those having 6-10 workers. For LDCs like Bangladesh, SMEs are a highly cost-effective route for industrial development. It is observed from Table-1 that micro enterprises run by up to 10 workers contribute the most which is 86% of the total contribution from SMEs to GDP of Bangladesh. It is also observed that micro enterprises run by more than 21 worke rs contribute about 7% of total contribution from SME to GDP of Bangladesh.Table-10: Sectors wise contribution of SME in GDP of Bangladesh (Taka)* Sectors| Total contribution to GDP (Taka)| Percent of total Contribution| Agriculture| 177,729,637,637| 24%| Fishing| 32,872,674,464| 4%| Manufacturing| 282,344,700,575| 38%| Construction| 7,196,460,200| 1%| Wholesale and Retail trade and Repairs| 171,335,861,390| 23%| Hotels and restaurants| 28,599,263,975| 3%| Transport, Storage and Communication| 8,950,171,356| 1%| Real state, Renting and Business activities| 13,771,436,794| 2%| Education| 151,808,506| 1%| Health and Social work| 2,743,049,893| 1%| Others Service activities| 15,632,094,785| 2%| Total| 741,327,159,609| 100%| (Source: ICG/MIDAS Survey, 2004) Figure-1: Sector wise contribution of SME in GDP of Bangladesh Table & graph 2; provides the information regarding sector wise contribution of SMEs to GDP. It is reflected from the table that manufacturing sector contributes the high est contribution in GDP i. e. , 38%. It is also observed from the table that agriculture and wholesale and retail sector contribute more than 22 percent in the GDP of Bangladesh. Table-11: Growth pattern of SME* Year| Growth rate of Large & Medium enterprise| Growth rate of Small enterprise| 1999-00| 4. 35%| 5. 80%| 2000-01| 6. 55%| 7. 02%| 2001-02| 4. 60%| 7. 69%| 2002-03| 6. 56%| 7. 21%| 003-04| 6. 95%| 7. 45%| 2004-05| 8. 30%| 7. 93%| 2005-06| 11. 41%| 9. 21%| 2006-07| 9. 74%| 9. 69%| 2007-08| 7. 26%| 7. 10%| 2008-09| 6. 58%| 6. 90%| 2009-10| 5. 64%| 6. 61%| *(Source: Bangladesh Economic Review 2009-2010, Chapter -8, Industry) Figure-2: Growth rate of SMEs Table 3 shows the growth pattern of SME. It is observed that during 2001-2002 to 2004-2005 in every financial year the growth rate of SME is about 7%. In 2005-2006 the growth rate was 9. 21%. The highest growth was in 2006-2007 i. e. 10. 28%. Table-12: Growth pattern of Manufacturing Sector * Year| Growth percentage of Manufact uring Sector| 1999-00| 4. 76%| 2000-01| 6. 68| 001-02| 5. 48| 2002-03| 6. 75| 2003-04| 7. 10| 2004-05| 8. 19| 2005-06| 10. 77| 2006-07| 9. 72| 2007-08| 7. 21| 2008-09| 6. 68| 2009-10| 5. 92| *(Source: Bangladesh Economic Review 2009-2010, Chapter -8, Industry) Figure-3: Growth rate of Manufacturing Sector Table shows the growth pattern of manufacturing sector. It is observed that the average growth during 1972 to 2005 was 6. 4%. During 2001-2002 to 2006-2007 the highest growth was in year 2006-07 i. e. , 11. 19%. It is also observed that during 2002-2003 to 2005-2006 in every financial year the growth of manufacturing sector was more than 6%. Table-13: Size and Growth Rate of Manufacturing Sector* At constant prices of 1995-96) (Taka in Core) Year| Large & Medium enterprise| Small enterprise| Total manufacturing| 1999-00| 21709| 8659| 30368| 2000-01| 23130| 9267| 32398| 2001-02| 24194| 9980| 34174| 2002-03| 25781| 10700| 36481| 2003-08| 27572| 11897| 39069| 2004-05| 29861| 12409| 4 2269| 2005-06| 33268| 13552| 46820| 2006-07| 36507| 14865| 51372| 2007-08| 39157| 15920| 55077| 2008-09| 41735| 17019| 58754| 2009-10| 44087| 18144| 62232| *(Source: Bangladesh Economic Review 2009-2010, Chapter -8, Industry) Table-14: Quantum Index of Production for Medium to Large Scale Manufacturing Industries* FY2000-01 to FY2008-09 (1988-89=100)Medium to large scale industries| 2000-01| 2001-02| 2002-03| 2003-04| 2004-05| 2005-06| 2006-07| 2007-08| 2008-09| 2009-10 (Up to October, 09)| | 228. 43| 238. 75| 254. 45| 272. 13| 294. 72| 328. 35| 360. 33| 384. 82| 413. 42| 431. 51| *(Source: Bangladesh Economic Review 2009-2010, Chapter -8, Industry) Chapter 4 Findings and Results At present SME sector is facing a lot of problems in Bangladesh. Some major problems are as follows: 1. Resource scarcity: In Bangladesh scarcity of raw materials hinder the ability of SME to be export oriented and limits its ability to reach more advanced stages of international business. 2. High employee turnover: Due to limited growth of SME most of the skilled employees leave SMEs.Levy (2003) observed that SMEs are knowledge creators but poor at knowledge retention. 3. Absence of modern technology: One of the main barriers for the development of SME in Bangladesh is inadequate technologies. Many SMEs have failed to adopt modern technology. 4. Poor physical infrastructure: Inadequate supply of necessary utilities like electricity, water, roads and highways hinder the growth of SME sector. Moreover unfavorable geographical conditions increase the transportation cost. 5. Financial constraints: Availability of finance hinders the growth of SMEs in Bangladesh. Bangladeshi bank considers SMEs as high risk borrowers because of their inability to comply with the bank’s collateral requirements.Only about 15-20% of the owners of SMEs own any immovable property. Bankers issue loan on the basis of ownership of immovable property as collateral risk. As a result it automatically excludes rest 80% SME’s from the list of privileged clients of the banks. Whatever collateral SME’s can manage gets used up in talking the term loan leaving them with no means to seek working capital loans from banks. Because of low access to institutional financing SME’s rely on inefficient financing services from informal sources. 6. Lack of uniform definition: In Bangladesh the definition of SME has changed overtime in different industrial policy announced by the government in different year.Absence of uniform definition makes the formulation and implementation of SME policy difficult. 7. Lack of information: Miah (2006) has observed that SMEs have very limited use of information technology (IT). Accounting package is used by 1-2% of the SMEs. The use of computers is revealed by say 15% of the SMEs, while the use of the Internet for business purposes applies to say 8-10% of SMEs. 8. Lack of entrepreneurship skills: Conservative attitude towards risk, lack of vision, ability to make plan and implementing those hinder the growth of SME in Bangladesh. 9. Participation of women entrepreneurs: Equality of opportunity is a major problem for SME. Female entrepreneurs are treated discriminately.They are not well represented in business organization. Government does not provide adequate institutional assistance for women entrepreneurs. 10. Access to Market and lack of awareness regarding the importance of marketing tool: For SME, owing a retail space is very expensive in the major cities in Bangladesh. As a result many customers are not interested to buy products and services from SMEs. Because they can’t judge the quality until they physically examined the product. Most of the cases SMEs in Bangladesh are not able to use the Integrated Marketing Communication (IMC) tools. But these tools play the role of important stimulus to motivate the customers and retain them.The country does not have enough marketing capability and resources to invest in m arketing. 11. Bureaucracy: Wang (1995) observed that the inadequate government supports are top ranking constraints for SMEs. Unnecessary layers of Bureaucracy and red-taps reduce the competitiveness of SME and raising the cost of transactions and operations. 12. Absence of transparent legal system: The absence of an effective and transparent legal system discourages SMEs in exploring into risky ventures of business. There are a number of unnecessary formal requirements to start and run business that create high compliance costs and become barriers to SME development, growth and market entry. 13.Lack of commitment to innovation and customer satisfaction: Ernesto (2005) stated that to keep in pace with international competition, firms of all size are challenged to improve and innovate their products processes constantly. But in Bangladesh SMEs are still not relating the importance of satisfying and retaining customers by offering novel and desired benefits. 14. Lack of quality assura nce: Govt. has failed to frame a national quality policy, provide adequate support systems and establish a national quality certification authority. As a consequence SME of Bangladesh has failed to ensure the quality of their products and services both in local and international market. 15. Lack of research and development facilities: It is observed that investment in R&D is still negligible in. 16.Fierce competition with the cheaper foreign goods: Fierce competition with the cheaper goods of China, Taiwan, Korea, India, and Thailand also pose threat to SME in Bangladesh. Chapter 5 Recommendations In order to overcome the above mentioned problems the following suggestions are recommended; 1. Government must have to take adequate measures to ensure the uninterrupted supply of raw materials for SME. 2. Government needs to take appropriate measures to fix the minimum salary/wages of the employees of SME. That will help to minimize the employee turnover. 3. Government and financial inst itution may provide adequate finance for modernization and technological advancement. 4.Development of infrastructure is essential for the optimum growth of SME. So government of Bangladesh needs to take appropriate policy strategy for the infrastructure development of Bangladesh. 5. Government, financial institutions and Non Government Organizations (NGOs) may take necessary steps to ensure uninterrupted financial support to the prospective SMEs in Bangladesh. 6. Due to the absence of uniform definition the policy formulation and implementations are not possible. Government should take initiative to develop a uniform definition of each category of SMEs. 7. Govt. of Bangladesh should take the initiative to develop web pages exclusively for SME and an integrated SME database.It will reduce the barriers to SME access to global market. 8. In order to ensure the retention of skilled workforce the government should make the entrepreneurial career attractive by minimizing the uncertainty. 9. In order to encourage women entrepreneurship govt. may; involve women entrepreneurs in policy formulation and implementation. Arrange funds for women entrepreneurs. Provide necessary training to women entrepreneurs in rural and urban area of Bangladesh. 10. SME foundation may take appropriate marketing tools to popularize their products. 11. For minimizing red tapes and accelerating the growth of SME government may provide one roof service under the SME foundation. 12.Appropriate legal framework is necessary to ensure the development of SME of Bangladesh. 13. In this era of intense competition continuous planning and quality improvement act as a prerequisite for the survival of SMEs. In order to improve the quality SMEs can follow the Just in Time (JIT) philosophy and use Total Quality Management (TQM) and can ensure the improvement of quality and productivity at a time. 14. Government should establish a credible certification authority especially for SMEs. So that this sector c an obtain a technical evaluation of the quality of their products within a shortest possible time. The certification of the authority should be world wide accepted. Govt. ay also provide assistance to SMEs during the certification process and promote the importance of product certification for international acceptance among the SMEs. 15. Research and Development (R&D) is must for the development and growth of SME. So government must have to invest in R&D for ensuring the intensification of SME of Bangladesh. 16. Restriction may be imposed on import of SMEs’ products which are available in Bangladesh. Chapter 6 Conclusion Small and medium enterprises (SMEs) act as a vital player for the economic growth, poverty alleviation and rapid industrialization of the developing countries like Bangladesh. SMEs are significant in underlying country’s economic growth, employment generation and accelerated industrialization.Government of Bangladesh has highlighted the importance of S ME in the Industrial Policy-2010. SME has identified by the Ministry of Industries as a ‘thrust sector’. As the SME sector is labor intensive, it can create more employment opportunities. For this reason government of Bangladesh has recognized SME as a poverty alleviation tool. SME also foster the development of entrepreneurial skills and innovation. Along with poverty alleviation SME can reduce the urban migration and increased cash flow in rural areas. As a result it will enhance the standard of living in rural areas. Performance of SMEs in Bangladesh is significantly found below the level of international standard.Although government of Bangladesh has taken some initiative to ensure the growth of SME but those steps are not enough at all. But government shows its positive attitude towards this sector. Bangladesh government should continue to give more focuses on some areas, such as arrangement of finance, provide infrastructure facilities, frame appropriate legal fra mework, establish national quality policy etc. From the sequence of our analysis it seems that for the economic development of Bangladesh SME can play a vital role. We are quite optimistic that if the above mentioned suggestions are implemented then the growth of SME sector in Bangladesh will be accelerated. References 1. Ahmed, M. U. , Mannan, M. A. , Razzaque, A. , and Sinha, A. (2004).Taking Stock and Charting a Path for SMEs in Bangladesh, Bangladesh Enterprise Institute, Dhaka. 2. Alam, M. S. and Ullah, M. A. (2006). SMEs in Bangladesh and Their Financing: An Analysis and Some Reccomendations. The Cost and Management, Vol. 34, No. 3. 3. Hossain, N. (1998). Constraints to SME Development in Bangladesh, Seminar Proceedings, University of Maryland at College Park, USA. 4. Miah, M. A. (2006). Key Success Factors for National SME Development Program; Lessons for OIC Member Countries from Bangladesh Experience, SME Foundation, Dhaka, Bangladesh. 5. Mintoo, A. A. (2006). SMEs in Bangl adesh. CACCI Journal, Vol. 1. 6. Report of Asian Development Bank (ADB). (2002).Strategic Issues and Potential Response – Small and Medium Enterprise Development and Export Expansion. Asian Development Bank (ADB), Dhaka. 7. SME Cell. (2005). Policy Strategies for Development of SME, Ministry of Industries, Government of People’s Republic of Bangladesh. 8. SME Policy Strategies. (2005). Publication of Government of People’s Republic of Bangladesh. 9. Uddin, S. M. N (2008). SME Development and Regional Economics Integration, Seminar Proceedings, Joint Regional Workshop held in Tokyo, Japan. 10. Ahmed, Kashfia & Chowdhury, Tanvir Ahmed (2009). Performance Evaluation of SMEs of Bangladesh, International Journal of Business and Management, Vol. 4 No. 7.

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