Things You Should Know Before Starting a Business in Bangladesh
Doing business in Bangladesh: Things you MUST know
Bangladesh is gradually becoming an economically strong and financially settled nation. Many foreign investors are becoming interested in investing in the business sector of the country. Many companies and investors all over the world have chosen Bangladesh for investment purpose.
The main reason behind this is the incentives and policies provided by the government. The Government of Bangladesh provides excellent facilities and incentives to the foreign investors. This is why foreign corporations are nowadays interested in business in Bangladesh. However, before entering Bangladesh for business, there are few techniques, or tips, that must be followed. These mere behavior manners must be strictly maintained in order to improve one's personality and personal expressions.
Community and trade customs are sternly observed part in Bangladesh. It is very necessary to build a good relation with others like during lunch period or free time. A soft tone while communication is always welcoming to others. Therefore, one should speak softly but enthusiastically, without the words sounding like a murmur.
A handshake is an extremely common gesture in doing business in Bangladesh, but there are a few rules for this. Men should not offer theirs hand to a woman unless she offers first. Again, the use of right hand is preferable as well as compulsory. It is always important to keep a good stock of one's visiting cards in one's pocket while attaining any party. The people of Bangladesh prefer the exchange of visiting cards during a conversation.
While attending any party, one's attire should be clean and proper. Firstly, it is necessary to know whether the host has decided on any theme. If not, the men should wear trouser or an extended or short-sleeved type of shirt. Combination of jacket and tie are preferred in the more formal parties. The female population of Bangladesh wears the traditional 'Sari' and visitors from abroad prefer trousers and a formal blouse. Most Bangladeshi business persons have a fair communication skill and basic knowledge of English, but they prefer to communicate in the national language, which is Bangla.
Bangladeshis are generally punctual. Therefore, one should not be late in attending any parties or formal functions. Exchanging of gifts is a common exercise in Bangladesh, but in business parties, corporate gifts are more used. Bangladeshis are very fond of receiving gifts and returning the favor.
Shoes worn to a party must not be noisy. Most of the times, noisy shoes causes disturbances in business parties. In this case, small sole shoes must be preferred. The people of Bangladesh are formal, strict and more official than others. Therefore, one's behavior should be proper and precise.
All the tips suggested above must be followed in order to improve relationship with the residents of Bangladesh. Bangladeshis may be a little strict but they are neither rudely nor unfriendly. They are simply formal about business and follow certain rules. They are punctual and soft-spoken.
Therefore, before planning to do business in Bangladesh, the above mentioned points must be followed. Last but not the least, it is not difficult to maintain a business in Bangladesh as the people here are welcoming and friendly.