Policy needed to help small businesses cope among big firms: Selim Jahan

Economist Selim Jahan has advised that policies should be formulated to ensure that small and micro entrepreneurs can survive commercially alongside large corporate organisations.

He said instead of positioning large and small enterprises as competitors, government policy should aim to establish them as complementary to each other.

The economist made these remarks in response to a question at an event titled "Small Ventures, Big Future: Microenterprise as Engine of Inclusive Growth in Bangladesh" held at the PKSF Bhaban in the capital yesterday.

During the event, a question was raised about large corporate entities becoming involved in various businesses, including the production of puffed rice and flattened rice. It was pointed out that this is making it difficult for micro and small entrepreneurs to compete, leading to decreased sales, financial difficulties, and, in many cases, business closures.

Selim Jahan, who is also a former director of the United Nations Development Programme, said, "The government needs to play a role to prevent large corporations from becoming all-encompassing. 

"These big enterprises need to be positioned in a way that allows small entrepreneurs to carry out their work efficiently and effectively. If a distinction is not drawn, the entire nation will become hostage to these large business groups, which is precisely what has happened now."

Small and micro entrepreneurs, he said, have certain comparative advantages in producing specific products. "Large enterprises do not necessarily need to engage in those areas. If we can assign those tasks to small enterprises and formulate a comprehensive policy for this purpose, it would be beneficial."

InM Executive Director Mustafa K Mujeri, PKSF Chairman Zakir Ahmed Khan, PKSF Managing Director Md Fazlul Quader, BIDS Research Director Kazi Iqbal and MRA Executive Director Mohammad Yakub Hossain also spoke on the occasion.