Economy of Bangladesh

Ways of becoming self reliant

Ways of becoming self reliant

Md. Joynal Abdin with symbolic name M.J.A KHAN

The Daily Independent on Friday, 25 February 2011

 The actual number of population live in Bangladesh today is a debatable figure. But it is an un-debatable fact that Bangladesh is one of the over populated countries in  the world. Growth of population tells us that we are becoming the most populated country very soon. Not only population every year two million educated young men and women are coming into the job market. It is nearly impossible to absorb this workable workforce in existing job market either in public or private sector.    To provide this ever growing workforce with appropriate jobs in time is  concern for us. Because unemployment rate is increasing and a class of frustrated young people is broadening its size. These people are getting involved with crimes or used by various groups and creating social hazards.

In coming days this problem would be wider and government (whoever in power) will face a very dangerous threat to motivate them into social life. So now is the high time to plan how to turn this unemployed workforce into productive manpower. It is not possible to think that everybody will serve as civil servant or top multinational executive. Proper planning can be done to motivate people in self employment through small entrepreneurial initiative. Till date there is no entrepreneurship institution in Bangladesh. Government shall actively think of establishing an entrepreneurship line of education like technical and vocational education.

Technical and vocational education facilities shall be strengthened to produce skill labour instead of producing huge highly educated people in non productive fields. I am not neglecting any faculty of education but I am trying to forward the message of need for entrepreneurship development studies. If they are trained in this discipline, the graduates will be turned into be entrepreneurs.

Thinking with a business idea can be the first step to be an entrepreneur. Selecting a suitable business idea to step forward with entrepreneurial effort is very important. I know that it is easy to say but difficult to do. But what is the harm if we can show a list of business ideas to the unemployed graduates? Maybe a number of jobseekers or unemployed people out of this two million may be motivated and take initiative to start a small business and achieve  success as a self employed entrepreneur. Thus we can try to shorten the line of jobseekers and guide the economic sector of the  nation towards a productive future.

1. Establishing a poultry hatchery: Bangladesh’s per capita protein production far below than satifactory. Poultry items are till out of the reach of  majority of the families in their daily menu. Establishing a small hatchery with an investment of two lakhs taka  may employ one graduate along with another uneducated labor to produce one thousand hens or ducks per month. A hatching machine is not so expensive in today’s market. Of course there is a threat to have uninterrupted electricity supply in this field or producing medicine during emergency. But we can overcome these problems if we actually try. Only collecting eggs and hatching these to sell little hens or ducks may be one type of business. Boiler farm can be the second and layer farm can be the third options here. The market opportunity is enormous and there is a large scope to export these items as well.

2. Establishing a dairy firm: A small dairy initiative can be started with three or five cows only. Selling milk is an almost monopoly business in Bangladesh. Whether it is a village  or a town, the demand for pure milk is always higher than its supply. So it can be a best option to carryout two to five people’s livelihood based on the income of an average size dairy farm. Initial investment of this sector is also within the reach of average income people and it is obviously lower than sending a son to Middle East as labourer. It may take two or three lac taka to start a small dairy farm with three to  five cows.

3. Fishing hatchery: one village pond can give yearly more than two lakhs taka if proper nursing is there. Establishing a small hatchery may not take more than five lakhs taka  which can offer thirty to fifty thousand taka monthly to an unemployed person.

4. Being a local agent of a company: There are many companies in Bangladesh not having a channel of distribution around the country. Being a local agent in the upzilla level of a company can be a profitable business. In this regard only a small van or auto van can be prime carrier and employing a distributor to distribute the products in surrounding markets will be enough.

5. Establishing a showroom: Establishing a showroom of any company in a upzilla  or in a sub-urban area can be another way to be an entrepreneur by investing taka three to five lakhs. It may be a single company showroom or multi-company show room of electronics, consumer or even bakery products. One educated youngman  along with three to five labourers can be employed in that showroom.

6. Establishing a channel of distribution: A single initiative can help a person to establish a channel of distribution. Working on commission the distributors can earn a lot of money. A graduate can organize five van pullers and employs them to distribute products among the local shops. This distribution channel can sign agreement with various companies to serve as local channel of distributors on behalf of the company and distribute their products in time.

7. Establishing a school: A small primary school can be a source of  profession for five graduates who can  educate children as well as  earn their livelihood. Of course a suitable place for primary school has to be selected and initially about two to five lakhs  taka has to be invested to procure necessary infrastructure with furniture, tools and instruments.

8. A retail shop with membership card: A department shop with membership card can be a successful model of entrepreneurship for a graduate. Every grocery item will be available and members can buy items in wholesale rate from this shop. Home service may be offered with a nominal charge. Online order placement facility with payment system can be an additional feature of this kind of shop.

9. Real state company in village level: Bangladesh is a very small but over populated country. Cultivable land is reducing every year due to building up houses for increasing number of families. If this trend continues then after fifty to hundred years there would not be a single piece of land for cultivation. So this is the time to come up with real state ideas in villages. Where multistoried building will be built up and distributed among the stakeholders. Establishing a real state company needs large scale investment but forming associations can be a sustainable solution to overcome this problem.

10. Producing handicrafts: Ten  village women can be organized initially and trained up for one week to produce five handicraft items and sell these in a single store. This can be a very profitable business for any locality. Handicrafts have a very potential export market with promising local market. So a group of families can be beneficiaries of such an initiative.

11. Boutiques and fashion design: Block, boutique, embroidery and carchopee items can be made in a small factory to serve a chain shop or  for sale in a show room can be another way to establish a small business in any urban or suburban area of even for a village market.

12. A fitness centre: People are becoming very much busy with the economic development of the country. Scope for physical work is reducing and as a result people are becoming fat. The demand for a fitness center is increasing in our daily life. So establishing a modern fitness center may be a good  way to be a successful entrepreneur. A chain fitness centre in different location of a city or different towns of a country may be a brand of fitness  centre.

13. Establishing a software development firm: Website and software development may be a good entrepreneurial initiative for a software graduate. Local demand for software is increasing and it has a golden export market as well.

14. Procurement house: Procuring crops in peak season for selling in adverse seasons may be a potential way of business. For example procuring rice, potatoes, tomatoes etc during its peak season and selling in off season after three or four months may be a profitable business for many graduates.

15. Cable TV and Broadband internet service provider: Providing cable TV connection or broadband internet connection to the community may be a profitable business for many unemployed graduates.

16. Internet Café: Establishing an internet café may be a good way to earn one’s livelihood instead of queuing for job. VOIP services may be another value added product for an internet café.

17. Community based FM radio: Starting a community based FM radio broadcasting station may provide self employment to  a group of engineering students.

18. Service center: Establishing a service center for trouble shooting of TVs, Computer instruments, refrigerators, air conditioning, wovens, blenders etc household equipment may provide employment to a group of diploma engineers.

19. Home service laundry: A modern home service laundry may be an option to provide employment to a group of workable manpower. There is a growing market for branded chain laundry in Bangladesh.

20.  Voice activated keys: Producing and installing voice activated keys may be a successful way of business.

21. Day care center:  Establishing day care center for children and aged people may be a new business concept in Bangladesh. Mainly metropolitan cities may be a very lucrative place for establishing day care centres.

22. House rent information center: Maximum city dwellers live in  rented accommodations. Many people search for rented apartments and houses every month. It is a very tough job to search for a good apartment for service holder couples. On the other hand house owners are also look for good tenants. An apartment finder business may ease tension of these two groups for a minimum charge. A membership system may be introduced for rent seekers and apartment owners for match-making.

23.  Feasibility study centre: There is a very good possibility to establish a feasibility study center in Bangladesh. This center may conduct feasibility study for  a new product, a new business. It can provide business plan, drafting services which are essential for entrepreneurs  to get bank loans etc.

24. CallCenter: Establishing a call center may be a very prospecting business in Bangladesh. It is not necessary that all call centres would serve the foreign companies. Days are coming when many Bangladeshi companies will outsource call center services to serve their local customers.

25. CommercialCleaningCenter: Commercial cleaning may be a very good business in Bangladesh. This center may wash car, wash carpets, clean apartments commercially. They can offer corporate cleaning services to corporate customers.

26. Animal health clinic: Establishing a clinic for domestic animals may be one of the very profitable businesses in Bangladesh. Corporate services may be offered to farm owners.

27. Franchise shop: Having a franchise show room of a reputed company in district or upzilla level may be a very good business for newly graduated students.

28. Beauty parlour: Establishing a beauty parlour may be a profitable business for  female graduates. It will cost taka one lakh or two as initial investment and there is a very growing market for it in any town in Bangladesh.

29. RelocationServiceCenter: Every month many families are relocating their household in different parts of towns. Relocating all furniture and fixtures safely from one apartment to another may be a professional service in near future.

30. TaxPreparationServiceCenter: Preparation of tax related documents may be a professional service for the law and business graduates.

Not only these thirty, one may have many more business ideas if he or she is innovative in thinking . But we must remember one thing that one business is not suitable for all people. So selecting suitable business is also important. One has to analyze  his background, society, investment ability and even intellectual capability.

Establishing specialized training centers to develop new entrepreneurs may be another successful business idea. We our academic curriculum may add some sorts of subjects which will inspire people to be entrepreneurs rather increasing the length of the line of jobseekers. Thus we may get a self employed generation to build a self sufficient Bangladesh to get a sustainable economy.

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