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SME-Part A-Lecture 4-ageconbd.com
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SME Foundation
1. It is founded in 2007.
2. It is incorporated under a limited company act,1994.
3. It is a non-profit organization.
4. Ministry of Industries is the former license provider of the SME Foundation.
5. Ministry of Commerce is the latest license provider of the SME Foundation license.
Vision:
Promoting SME for alleviating poverty and generating employment and thereby accelerating economic growth
Mission:
To promote SME growth facing globalization in the free market and enhance productivity
Objectives of SME:
1. To promote and support development
2. To increase competitiveness
3. To increase access
4. To rationalize the public sector approach
5. To create a linkage between national and international sectors that deal with the SME sector
6. To build-up capacity development of SME in public and private sectors
7. To increase the productivity of SME
Functions of SME:
1. Implementation of SME policies and strategies
2. Policy advocacy and research
3. Credit-wholesaling programs
4. Capacity building and skill development
5. Access to technology
6. Access to information
7. Women entrepreneurship development
8. Business support service
9. SME knowledge inventory
1.Implementation of SME policies and strategies:
SME describes the government about the amount of investment in the announcing budget. Weightful comments, how the financial sector will be enriched, how access to information will be increased-these are discussing issues of SME.
2.Policy advocacy and research:
Anyone can run a business. Spending money, time-consuming-these are trouble matters in establishing and running the business. In which areas, policies will have to be changed, what the challenging issues are, how to overcome this issues-these are directed by SME.
3.Credit-wholesaling programs:
SME provides loans from its fund. For instance, SME provides loans in technology-based potential and agro-based industries on a 9% interest rate.
4.Capacity building and skill development:
Workshops, seminars, training programs are arranged for boutique and wood-works. Implementation of ICT is ensured for businesses. Assisting to spread over marketing is executed by SME.
5. Access to technology:
For increasing competitiveness, the implementation of technology is done. Speaking the government to take initiative for farmers to adopt technology is done by SME.
6.Access to information:
Updated information is managed by the SME foundation. Analyzing the potentiality of sectors and expanding diversified business is done by the SME foundation. SME gives information to foreign investors about business investment in the country. Adaption to technology is also measured by the SME foundation.
7. Women entrepreneurship development:
Promoting and recognizing female entrepreneurship is done by SME. Seminars, women entrepreneurship hours, etc are arranged for women entrepreneurship.
8. Business Support Service:
Strategies about promoting products are discussed by SME. SME creates linkages between buyers and sellers. Marketing difficulties are solved by SME.
9. SME knowledge inventory:
All information about SME is archived. Expertise views about the SME foundation are also included.SME Help Center is enriched with previous recording information including initiatives and achievements of SME Foundation.
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