Empowering small businesses

The rise of large corporations in recent times has made it increasingly difficult for small business owners to survive and compete. While larger companies have access to more resources and can take advantage of economies of scale, it is small businesses that truly drive innovation, job creation, and community development.

Small businesses make up roughly half of all jobs in the private sector, making them the backbone of our economy. However, they face challenges such as limited access to capital, burdensome regulations, and rising operational costs. This disparity threatens the resilience and diversity of our local economies. I urge policymakers to prioritise the creation of pro-small business initiatives to address these challenges. These should include streamlined regulations, easier access to affordable loans, and tax incentives.

Supporting small businesses is not just about helping individual business owners; it is about fostering a vibrant and competitive economy that benefits everyone. By investing in these businesses, we can promote long-term economic growth and create opportunities for future generations.

Md. Shahriar Hossain

Student

North South University

shahriar.hossain09@northsouth.edu