Reports on overcoming business challenges in BD

The University of Liberal Arts Bangladesh’s Center for Enterprise and Society, in collaboration with MRB Bangladesh, has published a comprehensive report on the strategies that entrepreneurs use to overcome the obstacles faced when setting up businesses in Bangladesh. The report was based on the Overcoming Business Challenges Survey (OBCS) and it explores effective strategies _MG_1257_aleading to positive outcomes in the respective sectors.

The OBCS is a survey of 536 CEOs and Managing Directors from small, medium, and large firms across three established industries – real estate development, information technology (IT), and furniture manufacturing. The study, a joint project of the Center for Enterprise and Society at the University of Liberal Arts and Sirius Marketing and Social Research Ltd. was completed in early 2013. Through the survey, the report explores entrepreneurial responses to four types of challenges: (1) obtaining financing, (2) developing reliable forward and backward linkages, (3) obtaining government permissions and services, and (4) hiring and developing effective human resources. Provided these obstacles, the report focuses on three broad categories of strategies that entrepreneurs might take to overcome the challenges they are faced with. These include strengthening the business as an institution, using personal and professional networks, or simply working harder and relying more on one’s entrepreneurial skills.

Findings from the survey indicate that employers express greater satisfaction with their employees than expected and rely less on family and friend networks than anticipated. Nonetheless, only a minority of firms has adopted more formal approaches to human resource management and there is considerable reliance on head-hunting firms.

Syed Nasim Manzur, President, Metropolitan Chamber of Commerce and Industry graced the event as the chief guest. Dr. Daniel M. Sabet, Team Leader and Former Director, CES, ULAB presented the report.

About CES

Created at the beginning of 2012, the University of Liberal Arts Bangladesh’s Center for Enterprise and Society (CES) seeks to advance understanding of the opportunities and challenges to entrepreneurship and enterprise development in Bangladesh by conducting objective research on various industries which are designed and conducted at an academic research level. CES also develops local business case studies on a regular basis to be used as teaching tools for the business schools.

About ULAB

The University of Liberal Arts Bangladesh (ULAB) was founded as a place of learning where well-rounded students would be fully steeped in the values of their own heritage and a sense of service to their country, in addition to being trained to excel in the modern global workplace. ULAB was formally launched on October 1, 2004.