Bangladesh, as a third world country, has not yet developed a considerable number of Entrepreneurs. Only 4-5% of total population is now in the list of entrepreneurs in our country. In spite of having couple of challenges to become a successful entrepreneur, there are also some mind blowing opportunities which cannot be overlooked.
Availability of human resources is the first opportunity in developing entrepreneurs in Bangladesh. With a vast population of about 150 million, it is quite possible to use this number of people in developing entrepreneurship in Bangladesh. Human Resource (HR) is one of the fundamental factors of production. Therefore, abundance of HR is a great opportunity in creating entrepreneurs.
Mobility of profession is the second thing that creates opportunity in entrepreneurship in Bangladesh. (About 60% of the population work in agriculture and about 30% of the GDP also comes from agriculture) A considerable number of villagers have replaced their agriculture based profession into petty business and for this many of them have transferred into city area which creates a mobility profession.
Preference in establishing agro-based industry in Government planning has added a huge scope of developing entrepreneurs. Besides, most of the raw materials of different types of industries come from agricultural sector. So this resourceful agricultural sector is creating a milestone by offering the opportunity of creating an entrepreneurial life.
Industrial innovative sensation is now pretty commonly seen among the citizen of our country. So a huge number of people might get involved in industrial initiative if they get favorable opportunities. Already, with the help of different NGOs and financing institution, they have established many small and collage industries as well.
Due to the limited scope of employment in our country a large number of educated people are now facing the problem of unemployment. At an average of 2.22 million educated people faced unemployment and this rate has sustained from 1995 to 2016, reaching an all time high of 2.70 million in 2016. To get rid of this unemployment problem, people prefer to be entrepreneur to create employment for themselves as well as for others. For this reason, educated unemployed people will take new initiative to do something new which will provide a possibility of developing entrepreneurship as there is a close connection in between education and entrepreneurship.
Finally, liberalization of government industrial policy is creating scope among youth to get interested and involved in entrepreneurship. Besides, due to the liberalization of government industrial policy, investors are investing their capital in industrial sector.
The economy of Bangladesh is a developing market economy which also has made Bangladesh as one of the world’s fastest growing economy. Though, in entrepreneurship, Bangladesh is a newcomer, it has already earned a huge response among young generation. These existing opportunities are paving the path of every entrepreneur starting from a new to this field to aged experienced entrepreneurs. That is why, we can agree with Majora Carter (urban revitalization strategist and broadcast producer), “If we are going to be part of the solution, we have to engage the problems.”