The dreams of many young entrepreneurs are being shattered in the middle due to capital crisis and lack of entrepreneurial policies. They demanded that an entrepreneur-friendly policy should be formulated including giving loans on easy terms and not just training. However, according to the “Entrepreneur Creation and Skill Development” project director, lack of proper business plan and lack of sector-based training are major obstacles to entrepreneur creation.
Israt Munni. At the end of the Masters, he started his journey with a small boutique house with the dream of becoming an entrepreneur without running after a job. Although it started two years ago with little capital, the dream of this young entrepreneur is on the verge of breaking due to lack of financial resources.
Israt Munni said, “I go to the second stage when I go through the first stage of business. At that time we need money. Then we go to different banks and institutions and they say bail is required. If we have money then why should we ask others for money.
Entrepreneurs complain that even if they only provide training, they have to stop in the middle due to lack of funds and complexities to do business paperwork. In this case, the private foundations want to work together with the government to create an online platform for training entrepreneurs and business.
Masum Khan, a young entrepreneur and CEO of a private training platform, said it takes so much time and money to get a trade license for a business. Licensing does not require business capital.
“We have signed an MoU with the government’s ICT ministry,” said Iqbal Bahar Zahid, president of the ‘Like Yourself’ Story Foundation. In addition, there is an agreement in a financial institution. They will lend to entrepreneurs.
Besides training, proper business planning and provision of capital play an important role in creating successful entrepreneurs, said Mohammad Hafizullah Khan, BIDA’s project director.
“We are identifying which sectors are less risky to invest in,” he said. In addition, we are connecting with various banks and financial institutions in the field of fund raising.
The project director said the project is being implemented at a cost of around Tk 50 crore with the aim of creating 24,000 entrepreneurs.