Entrepreneurship needs a boost

MUCH of the country's fast growing population is without job or business. Creation of job opportunities appears to be a remote possibility. The Bangladesh Bureau of Statistics
(BBS) survey report, "Monitoring of Employment Survey -2009," painted a grim picture of the unemployment situation.
The report indicated that the number of jobless in the country increased to 27 lakh in the last three years, and the under-employed figure climbing up to1.54 crore during the same period. The country lags far behind other Asian countries when it comes to fostering entrepreneurship.
Few in the country have much appetite for risk, as a consequence they are much more likely to seek any job. But, as competition is getting tough with each passing day, the government must push its citizens to be entrepreneurial. Our people are often likened to ostriches, whereas dynamic people of Singapore and Hong Kong are working like high- flying storks
Allocation of government funds to small entrepreneurs trying to get off the ground should start without further delay. With the improvement of power generation capacity, small industries set up all over Bangladesh can create jobs for the unemployed. Agencies working under the government must target the export-driven sectors.
The government and affluent people should boost personal initiative in people looking for confidence, co-operation and funds. People can be provided entrepreneurial support in the industry, such as repairing and tool making, now booming in the Dolaikhal and Kamrangirchar areas of Dhaka city. Singapore made $1.34 billion available to young entrepreneurs in 1991 to encourage them to go ahead with their own ventures.
The people are grumbling about the administration's inaction and apathy to their needs, and this undoubtedly has muddled up relations between the two groups. The root cause of most of the crimes can be attributed to inequitable distribution of wealth and poverty of the general masses.
One can note how Dirubhai Ambani, a Gujarat-born entrepreneur, rocketed to success.
He became one of the richest people in the world because the projects he undertook were all oriented towards national prosperity.
In our country, a good number of engineers cashed in on policy decisions and made a great debut in ready-made garment export and industrial production. Bangladeshi garment exports ranked top in the Asian region in the years 1990-98.
Towfique Seraj of Sheltech, S.M. Kamaluddin of Concord, Tanveerul Haque Probal of Building for Future, Rabiul Alam of Energypac, Shafiqur Rahman of Megatech engineering firm, all of them engineers and successful entrepreneurs, did not bribe their way to the top.
Engr. Shafiqur Rahman, a bright product of BUET in the early '70s, left a comfortable job in KSB pumps and started a high pressure pump manufacturing company on his own, and it can now meet the growing demand for irrigation, domestic and commercial water supply system without the installation of an overhead reservoir.
The sewage treatment plant installed at NSU (North South University) by Megatech Engineering firm is a significant achievement with regard to recycling of waste water and utilisation of natural fertiliser for gardening in individual houses.
As already mentioned, what is important for the budding entrepreneurs to learn and what Ambani said years ago is worth noting. He said: "Don't put all your eggs in one basket." A successful entrepreneur, Ambani followed this dictum as he diversified his business from textile to advertising, merchant banking, petro-chemicals to oil-refinery and now to cell phone industry.
In all countries and in all ages, supporting the ventures of new entrepreneurs has helped foster business, industry and wealth. The case of billionaire and Media Mogul Robert Maxwell is a reminder of how a person with entrepreneurial skill, ambition, and lofty desires can reach excellent heights all alone.
Steiner, a 43-year old Hungarian engineer is a person whose works can inspire our people looking for opportunity, dynamism and market. Starting in 1981 Steiner built a backyard refrigerator repair-shop into an aggressive, sophisticated firm that is now poised for new growth. His Rolitron company has diversified into water purifiers andhomo-dialysis machines.
Starting as a small enterprise in the early 80s, Energypac of Bangladesh is now engaged in designing, manufacturing and marketing of high technology electrical products and services related to power generation, transmission and distribution, as well as execution of turnkey projects in other countries. This firm now exports its manufactured equipment to some Asian and African countries other than India.
The history of Rolitron in Hungary or Reliance in India or Energypac, or Square Group or Pran Group or Otobi in Bangladesh illustrates the problems that private enterprises in all countries have been facing.
Entrepreneurs in our country have to navigate through the thicket of red tape, inattention, and neglect, and race from one place to another. People have to wrestle with endless annoyances that make life horrible here.
But these budding talents, rich in innovative ideas, technical expertise and bubbling with the spirit of doing something that helps them and the country, have hardly got recognition at the proper moment. These people, it must be admitted, have a major challenge to meet to build up the economic bridges to the West and other Asian countries that will guarantee the hard-won freedom.
People in all sectors of the society and belonging to all shades of opinion see joint ventures with western and fast-developing Asian firms as a panacea for revitalising our stagnating economy. That calls for ensuring a climate for investment in the country.
With the government making a big allocation of Tk.3,000 crore in PPP programs in the the upcoming budget, it is expected that a substantial amount will be earmarked to induct new entrepreneurs waiting in the wings with novel projects.

Md. Asadullah Khan is a former teacher of physics and Controller of Examinations, BUET.
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