STAR BUSINESS REPORT

The SME Foundation, with support from the World Bank, organised a two-day “Buyer-Seller Summit 2025” at the Institute of Architects Bangladesh in the capital’s Agargaon, starting yesterday.

The summit seeks to strengthen market linkages for products crafted by entrepreneurs from SME clusters nationwide, while helping established businesses source diverse suppliers.

A total of 46 women-led enterprises and 25 SME clusters are showcasing their products and supply capacities to commercial buyers, institutions, and established businesses.

The participants represent different sectors, including leather, light engineering, handloom, hosiery, fashion and home textiles, nakshi kantha (embroidered quilts), wood and bamboo-cane products, pottery, and jewellery.

Md Nuruzzaman, additional secretary of the Ministry of Industries, inaugurated the summit as chief guest, according to a press release.

The event was chaired by Md Musfiqur Rahman, chairperson of the SME Foundation. Highlighting the importance of clusters, he said a 2013 study by the foundation identified 177 clusters across the country involving nearly two million workers, of whom 74 percent were male and 26 percent female.

“About 70,000 companies in 177 clusters across 51 districts generate an annual turnover of around Tk 30,000 crore. Subsequently, 20 more clusters have been identified,” he noted.

Among the most significant clusters are those in light engineering, handloom, embroidery, small garments, handicrafts, furniture, bamboo and rattan, jewellery and leather goods.

Rahman observed that cluster entrepreneurs continue to face challenges in marketing, access to finance, technical and managerial capacity, quality improvement, workplace safety, and health standards.

To address these issues, the SME Foundation is implementing a broad range of development initiatives, including infrastructure enhancement, adoption of modern technology and machinery, introduction of new designs and product diversification, training to improve quality standards, and the production of diversified goods through recycled raw materials.

The foundation is also pursuing policy advocacy for industrial product recognition and geographical indication (GI) certification, alongside cluster-based credit, experience sharing, ICT support, and the establishment of common facility centres.

“With the aim of developing small and medium industry clusters, the foundation regularly assesses their needs and designs cluster-specific interventions accordingly,” Rahman added.

The foundation has completed needs assessments in 95 clusters, with ongoing development initiatives currently active in 40.

Under its credit wholesaling programme and incentive package, the SME Foundation has disbursed loans worth about Tk 185 crore to nearly 2,800 entrepreneurs across various clusters.

It has also supported entrepreneurs in building banking capacity through specialised training and engagement with banks and financial institutions.