Development of Entrepreneurs and Managers
People with initiative and leadership skill are necessary for economic development. Small and medium industries in developing countries have been providing consumer goods as well as serving as nurseries of entrepreneurial and management talents. Bangladesh for centuries has been experiencing a shortage of entrepreneurs, resulting in poor economic development. a study of bureau of business research, University of Dhaka, pointed out that inadequate measures for development of entrepreneurs are mainly responsible for the poor development of the small and medium industries. Over and above these factors, Bangladesh lost the best managers and entrepreneurs twice- first in 1947, with the partition of British India, most of the non-Muslim managers and industrialists left Bangladesh for the Indian union; second with the Liberation of Bangladesh the majority of non-Bengali managers and entrepreneurs left Bangladesh for Pakistan. These have had tremendous effect on the management personnel and industrial entrepreneurs in Bangladesh. Thus the most important contribution which the small and medium industries in Bangladesh can make to the national economy is in the area of manpower development. Economic growth requires on a continuing basis an appreciable number of men with qualities of initiative and leadership, combined with skills in organization and management. Small factories could provide a channel through which suitably talented and motivated individuals can find their way to new and constructive types of economic development. Indeed the small and medium industries serve a newly industrializing country not only by their output of goods but also by function as a nursery of entrepreneur and management talent.
What is needed the most in Bangladesh is the creation of a conducive atmosphere, wherein the entrepreneurs of small and medium industries can promote and develop their business. They should get adequate assistance in technical advice, credit and marketing guidance. Even under and protected home market, with fair and open competition within the country, the market will be reasonable ground for the testing of these entrepreneurs. The process will enable the successful entrepreneurs to advance from small to medium and from there to large scale industries. In other words, alert entrepreneurship in small industry is needed to put more flesh on the skeleton of industrialization provided by large units, to make the whole industry a living, adoptable organism that serves the needs of the people in detail as well as in gross.
In short, creation of proper environment, growth of small scale feeder industries and symbiotic linkage between the large and small industries will greatly contribute towards the economic development of Bangladesh.