Youth entrepreneurship a ray of hope

Bangladesh, with its rapidly growing economy, is experiencing a transformative shift led by its young entrepreneurs. These dynamic individuals are not just creating jobs but also driving innovation, reducing unemployment, and positioning Bangladesh as a key player in the global market. With a supportive ecosystem and the right policies, youth entrepreneurs are becoming the ray of hope for the country's economic future.
The entrepreneurial landscape in Bangladesh is undergoing a remarkable transformation, with a surge in startups across various industries. Young entrepreneurs are using digital platforms and innovative business models to create impactful solutions. The widespread adoption of mobile technology and the internet has accelerated this trend, enabling young business leaders to connect with global markets and attract international investors. Government initiatives and private sector investments are playing a crucial role in fostering entrepreneurship among the youth, with the Startup Bangladesh initiative providing financial assistance, mentorship, and incubation programmes.
However, many obstacles persist as youth entrepreneurship continues to grow at a promising rate. Lack of fund appears to be the top barrier for youth business founders because they find it hard to obtain startup funds because of their short financial track records or insufficient property assets. Business entities face two major obstacles: bureaucratic barriers and complicated regulatory systems during business creation and expansion.
The ability of young entrepreneurs to maintain and see their businesses grow is limited by their insufficient business management and digital skills and leadership abilities. The training provided in educational institutions for entrepreneurship remains insufficient because increasing synergy between academic institutions and industries remains essential to develop necessary competencies for young business leaders.
Bangladesh needs to invest in policies that support startups, encourage innovation, and improve access to finance to fully harness the potential of youth entrepreneurship. Public-private partnerships can provide mentorship, training, and funding opportunities for aspiring entrepreneurs. Fostering a culture of entrepreneurship through education, networking events, and incubator programmes can empower young individuals to create successful ventures. International collaboration and knowledge-sharing with successful startup ecosystems can accelerate the growth of Bangladesh's entrepreneurial sector.
By nurturing Bangladesh's youthful population, the nation can drive economic prosperity and global competitiveness, transforming the local economy and positioning the country as a dynamic player in the global business landscape.

Sumaiya Habib
Student, BBA Department, North South University
sumaiya.habib1@icloud.com