Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.  

2. Topic :
“Challenges of
Entrepreneurship
Development in
Bangladesh”

3. INTRODUCTION
Entrepreneurship and economic development are intimately related. So, that
entrepreneurial process is a major factor in economic development and the
entrepreneur is the key to economic growth. Whatever be the form of economic
and political set-up of the country, entrepreneurship is indispensable for economic
development. Entrepreneurship is an approach to management that can be applied
in start-up situations as well as within more established businesses.

4. Objectives

5. Objectives:
There are two objective in entrepreneurship. These is :
1.Broad objective and
2. Specific objectives
Broad objective
The main objective is to identify the some challenges
and obstacles regarding Entrepreneurial activities in
Bangladesh.

6. Objectives:
Specific objectives:
Analysis about entrepreneurship facilities in
Bangladesh.
Identify the problems of entrepreneur in
Bangladesh.
Challenges faced by entrepreneurs in
Bangladesh.
Some recommendations regarding
entrepreneurship challenges in Bangladesh.

7. Methodology:

8. Methodology:
There are two types in data in methodology .these is:
1. Primary and
2. Secondary
Primary Data :
No primary data has been used for preparing this and no statistical analysis is
given. It is completely a qualitative analysis about the challenges of
Entrepreneurship development in Bangladesh. It is a web site based and
observational analysis of some famous and failure entrepreneurs in
Bangladesh.
Some limitations are there as time limitation and no practical data was found
about the given topic.

9. Methodology
Secondary Data :
All the data has been collected from secondary
sources. Some articles, journals, newspapers
etc are the main sources for preparing this
assignment. Books and some recent news
also some legal rules were observed for
preparing this assignment.

10. Main Discussion about Challenges of
Entrepreneurship Development in Bangladesh:
A special group of entrepreneurs, creators of the
corporate new ventures, identified technically
as entrepreneurs, create new products and
processes within large organizations. They do
not start a new enterprise or industry but
create new products with their innovative and
inventive ideas. Their corporate
entrepreneurship opens up new horizons of
opportunities for the corporate structure where
they serve.

11. Main Discussion about Challenges of
Entrepreneurship Development in Bangladesh:
Entrepreneurship:
Entrepreneurship can be defined by describing
what entrepreneurs do. For example:
“Entrepreneurs use personal initiative, and
engage in calculated risk-taking, to create
new business ventures by raising resources to
apply innovative new ideas solve problems,
meet challenges, or satisfy the needs of a
clearly defined market.”

12. Main Discussion about Challenges of
Entrepreneurship Development in Bangladesh:
The Entrepreneur & Features:
According to J.B Say, ‘Entrepreneur is an economic
agent to unite all the means of production.’ An
entrepreneur is an individual who takes moderate
risks and brings innovation. Entrepreneurs are
often contrasted with managers and
administrators who are said to be more
methodical and less prone to risk-taking. So, they
have many of the same character traits as
leaders. Similarly to the early great man theories
of leadership:

13. Advantages:

14. Advantages :
1. Develop new markets:
Entrepreneurs are resourceful and creative. They can
create customers or buyers which makes
entrepreneurs different from ordinary businessmen to
perform traditional functions of management.
2. Discover new sources of materials:
Due to their innovative nature, Entrepreneurs persist on
discovering new sources of materials to improve their
enterprises and enjoy a comparative advantage in
terms of supply, cost and quality.

15. Advantages:
3. Mobilize capital resources:
Entrepreneurs are the organizers and coordinators of the major
factors of production, such as land labor and capital. They
properly mix these factors of production to create goods and
service with initiative and self-confidence in accumulating and
mobilizing capital resources.
4. Introduce new technologies, new industries and new
products:
Entrepreneurs can introduce something new or something
different through entrepreneurial spirit. Every year, there are
new technologies and new products. All of these are intended
to satisfy human needs in more convenient and pleasant way.

16. Advantages:
5. Create employment:
The biggest employer is the private business
sector. Millions of jobs are provided by the
factories, service industries, agricultural
enterprises, and the numerous small-scale
businesses. So, the entrepreneur can
increases demand for goods and services as
well as more employment.

17. Disadvantages:
In Bangladesh there is no abundance facilities for
developing entrepreneurship rather exist a large
number of obstacles, which are liable for not
developing entrepreneurs in Bangladesh
described in below.

18. Disadvantages:
1. Improper publicity of Govt. facilities:
Sometimes Govt. provides facilities for developing
entrepreneurs in limited basis. Those have not
informed properly to the remote villagers.
2. Insufficient arrangement for pre-investment
advice:
Pre-investment advice is essential to ensure best
use of investment. In our country there is no
sufficient arrangement of pre-investment advice
for this reason most of entrepreneur can’t study
market feasibility for the product and business.

19. Disadvantages:
3. Lack of required financing:
This is the fundamental problem of developing
entrepreneurship in Bangladesh. Here, entrepreneurs
faces problem in collecting required working capital
and fixed capital most of the financing organization
demand for supporting papers and apply rigid
condition as a result most of the entrepreneurs can’t
get required capital to operate their activities
smoothly.
4. Scarcity of raw materials and other factors of
production: In our country there is an immense
shortage of basic raw materials to operate industrial
activities smoothly such as skilled manpower
technology capital and so on, for why the have to
import basis raw materials and supplementary factors

20. Disadvantages:
5. Lack of knowledge regarding technology and
management: In developed country, most of
the business and industries are technology
oriented and they follow modern management
technique.
For going are the obstacles or problems in
developing entrepreneurs and
entrepreneurship in Bangladesh.

21. Challenges of entrepreneurship
development in Bangladesh

22. Challenges of entrepreneurship
development in Bangladesh
In Bangladesh, there is no specialized Institution organizing
entrepreneurship development program. The Institution
mentioned above offers entrepreneurship development
programs. They are designed to help individuals achieve
income generating and self-employment or skill development.
The following are some of the problems of these programs:
* The concept of entrepreneurship development through formal
training programs is completely new to the participants. The
entrepreneurship development course, has been introduced
in some courses has not been introduced in other disciplines.
* Lack of awareness that business could be a good profession is
another problem for the training.

23. Challenges of entrepreneurship
development in Bangladesh
*Frequent changes of government and its policy.
* Most training programs were designed without
formal assessment of the needs of the
trainees.
* Neither the trainers are not well trained to give
training nor are methodology used in the
program appropriate. Training programs are
not followed by appropriate provision of
support assistance.

24. Challenges of entrepreneurship
development in Bangladesh
Entrepreneurship development training programs are
inadequate and suffer from many weaknesses to
create major impact on entrepreneurship development
in the country. The major weaknesses, as identified,
are:
(i) Missing needed attention at policy level, (ii) Shortage
of qualified, leaders and trainers, (iii) Lack of training
program need analysis,
(iv) Absence of integrated education and training
approach for youth
(v) Insufficient application of innovative training methods
materials,
(vi) Lack of co-ordination between concerned institutions
at National, Regional and International level.

25. Challenges faced by women
entrepreneurs :
Access to Finance & Financial Institutions
In Bangladesh women entrepreneurs face various
hindrances to access to finance. Insufficient initial
capital is one of the main problems for the women
entrepreneur.
Lack of Knowledge
Lack of knowledge among the women entrepreneurs is
another barrier. Many of them have no education over
class eight or SSC level. Knowledge about business
enterprise, business management , environment ,
entrepreneurship, economics and policy are
important in today’s business. Lack of knowledge in
these disciplines acts as a major obstacle to women
entrepreneurship in Bangladesh.

26. Challenges faced by women
entrepreneurs :
Lack of Training
In Bangladesh most of the rural women are uneducated, poor
and lack sufficient arrangement to protect them from
insecurity and illiteracy.
Lack of Entrepreneurial Training
For processing, manufacturing, livestock and fisheries activities
entrepreneurial training is essential.
Family Responsibilities
Family responsibilities such as household work, caring for
elders and rearing children prevent them from gaining
skills, knowledge properly since they cannot usually find the
suitable time to be more proficient.

27. Recommendation :

28. Recommendation :
1. Emphasis on stimulating, supporting and sustaining
activities:
The success of EDPs depends upon the stimulating, supporting
and sustaining activities.
2. Focus on achievement motivation:
It is important to develop achievement motivation amongst
prospective entrepreneur through proper training and
conducive environment to create right type of impact of
training. Entrepreneurs should be helped ideas into reality.
3. Designing of viable projects:
A viable project is feasible to implement in terms of availability of
resources and market potentials.

29. Recommendation :
4. Selection of trainees:
Trainees should be selected after proper
examinations and tests. Educated unemployed
youth should be selected on priority. Persons
having traditional background in the chosen
economic activity should be preferred.
5. Training of trainers:
Success of EDPs depends on abilities skills and
experience of trainers. They must be committed,
competent and qualified

30. Conclusion:

31. Conclusion:
Entrepreneurship in new member states has
been assessed as a driving force of
decentralization, economic restructuring and
movement in the direction of market economy.
Moreover, Development of entrepreneurship
has been a dynamic process.
Entrepreneurship forces "creative destruction"
across markets and industries, simultaneously
creating new products and business models.
In this way, creative destruction is largely
responsible for the dynamism of industries and
long-run economic growth.