As per most of the rising entrepreneurs in Bangladesh, financing is the most challenging task to initiate and run a business. Considering this phenomenon, Youth School for Social Entrepreneurs (YSSE), country’s only youth driven nonprofit organization for social entrepreneurs, had organized a seminar on “Financing strategies for Start-ups” on 20th February at EMK Center.
Prominent Economist and Former Governor of Bangladesh Bank , Dr. Atiur Rahman, was present as the Chief Guest of the seminar. In his speech, he emphasized that the youth in Bangladesh are truly talented and capable enough to bring a revolutionary positive change into society through their inclusive business initiatives. He also emphasized that the youth need to be more persistent to make their dreams come true and this persistence will take them very far in the path of success.
As one of the special guests, the Founder & Managing Partner of Business Valuation International UK, Dr. Fernando Scarpati ensured his graceful presence sharing his experience about financing issues. He illustrated the problems or gaps that are mostly faced by the early stage entrepreneurs for the fundraising and also shared his views about how these gaps can be reduced and entrepreneurs can have a proper funding. Another special guest, Mr. Ashfaq Zaman, President of LEAD (Leadership Excellence And Development) talked about how financing is getting accessible to the entrepreneurs gradually. He also emphasized that the conviction towards an idea is significantly important to get a funding.
Mr. Rubaiyat Shaimom Chowdhury, Assistant Professor, Finance, Shanto Mariam University of Creative Technology talked about the integrated financial planning. His session included a very focused discussion on how an entrepreneur should plan about the financing of his/her business and how they can present their finance planning to approach the investors. Co-Founder & Head of Business of GEEKY Social Limited and also the Assistant Professor of Department of Finance, University of Dhaka, Mr. Saimum Hossain discussed on the early stage investment landscape. HE illustrated the possible options available for the entrepreneurs for the fundraising. Mr. Jalal Ahmed, the Chairman of Nepal Bangladesh Bank Ltd, Nepal & IFIC Money Transfer (UK) Ltd, and Former Additional Secretary, Finance Division, Government of Bangladesh, informed all the rising entrepreneurs about the startup funding opportunities available in our country both in public and private sectors. Moreover, one thing was pretty much common among all the sessions that the speakers repeatedly inspired the participants to be persistent and hopeful about their ideas. It is ideas which brings financing. In this program, it was also illuminated that today’s entrepreneurs have to be visionary and consider investors’ point of view as well to get a funding.
From this seminar engaging around 50 participants, it is expected that the audience will make the maximum utilization of the well rounded idea they have received about business financing, financing opportunities and the approach they must follow for a fruitful financing. This seminar will enable the participants to take integrated decisions for their businesses which will result to the responsible investment in the lomg run. All these positive changes in the ecosystem of young entrepreneurs will ensure to a remarkable extent that youth are responsibly contributing for the development of the economic condition of Bangladesh.
The President and Founder of YSSE, Mr. Sheikh Mohammad Yousuf Hossain hopes to arrange the more knowledgeable program for entrepreneurs. In the future, YSSE is planning to offer a complete course for entrepreneurs. They dream for an entrepreneur-friendly inclusive society for innovative individuals.
Md. Sahed Hossain, General Secretary, Youth School for Social Entrepreneurs -YSSE