Role of BSCIC in developing Entrepreneurship and Small Business

The process of discovering a new venture with creativity and innovation is called entrepreneurship. Entrepreneurship requires an assumption of risk and reaping of awards. It brings resources together and provides an option for self-employment to an individual.

Bangladesh Small and Cottage Industries Corporation (BSCIC) is the prime mover organization for the development of small and cottage industries in Bangladesh. It is an autonomous corporation under the Ministry of Industries. It was established by an Act of the parliament in 1957.

Here discuss the role of BSCIC in developing entrepreneurship and small business of Bangladesh –

BSCIC is a prime government organization entrusted for rapid industrialization of small and cottage Industries in the country. Under the direct or indirect initiative of BSCIC, plenty of entrepreneurs has been created and enterprises have been set up in the country. BSCIC is to provide facilities to the existing and new entrepreneurs to expand and develop their markets and to stay and sustain in the competitive environment.

Main Objectives of BSCIC:

An increase of industrial production and productivity in the SCI sector;

  • Creation of employment opportunities;
  • Poverty alleviation;
  • Balanced regional growth;
  • Ensure optimum utilization of economic and human resources;
  • Accelerate the overall economic growth of the country through SCI.

Bangladesh Small and Cottage industries Corporation (BSCIC) plays an important role in developing entrepreneurship and small business of Bangladesh. The roles of BSCIC are as follows:

  • Accelerating growth of small industries;
  • Ensuring optimum utilization of economic resources;
  • Providing infrastructural facilities;
  • Increasing productivity;
  • Creating and developing a market for products;
  • Increasing efficiency;
  • Processing the product and innovating technology;
  • Assisting in socio-economic development.