In recent years, Bangladesh has experienced a significant increase in sustainable entrepreneurship, largely due to the Sustainable Enterprise Project (SEP) funded by the World Bank, the Palli Karma-Sahayak Foundation (PKSF), and the Government of Bangladesh. This initiative has not only effectively addressed the challenges encountered by sustainable enterprises, but has also underscored the intricate relationship between economic development, environmental stewardship, and social responsibility.
Sustainable enterprises in Bangladesh encounter numerous obstacles, including difficulties in marketing their products, limited access to modern technology, and securing funding for expansion. Recognizing these challenges, there is an urgent need to provide assistance in waste management, technology adoption, and sales strategies. The SEP focuses on the adoption of eco-friendly technologies, improving marketing strategies, and enhancing branding capabilities for microenterprises in the agribusiness and manufacturing sectors. The SEP has partnered with over 60,000 microenterprises, with the goal of integrating environmental protection measures within this sector. Through strategic interventions, the project has made significant progress in addressing environmental issues and reducing pollution.
Over the past six months, the project has successfully organized collaborative workshops, bringing together hundreds of micro-entrepreneurs to share challenges and devise innovative solutions using a design thinking approach. A recent youth conference, titled ‘Exploring Sustainable Enterprises: Challenges and Solutions for Micro-entrepreneurship and Youth Empowerment in Bangladesh,’ emphasized the collective commitment to promoting sustainable entrepreneurship. The conference convened 150 youth, 100 micro-entrepreneurs, policymakers, PKSF, and World Bank officials in Bangladesh, resulting in a declaration known as the “Youth Declaration on Promoting Sustainable Enterprises.”
The conference stressed the importance of entrepreneurship and youth engagement, emphasizing the need for comprehensive training, education on eco-friendly products, and recognition systems for environmentally friendly practices. The attendees of the youth conference, along with micro-entrepreneurs from across the country, have articulated a set of urgent calls to action to promote sustainable micro-entrepreneurship.
The youth and micro-entrepreneurs have highlighted the following points in their calls to action:
1. Developing a supportive ecosystem
2. Empowering women entrepreneurs
3. Stakeholder support for the youth
4. Consumer responsibility
5. Promotion of microenterprises by the youth
6. Sustainable sourcing
7. Eco-certifications and dialogues
8. Direct consumer sales
9. Control over market manipulation
10. Cooperation between micro-entrepreneurs and micro-finance organizations
11. Initiatives by PKSF and the World Bank
Through these combined efforts, the youth of Bangladesh and representing micro-entrepreneurs envision a greener, more resilient future. Together, they aim to shape a sustainable ecosystem that benefits businesses, communities, and the environment. The SEP declaration can pave the way for a brighter sustainable tomorrow.
Dr. Sayed Saikh Imtiaz is a professor at DU’s DWGS, and Dr. Ifterkharul Amin Shatil is a professor at DU’s IBA.
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