With a vision to promote small and medium enterprises (SMEs) for alleviating poverty, generating employment and thereby accelerating economic growth, SME Foundation has been conducting multifaceted development interventions since inception.
A widely practiced economic transformation accelerator is SME Cluster Development. Empirically, development of SME Clusters has been used as a “magic bullet” to address the issue of entrepreneurship development, employment generation, eradicating income inequalities, increase competitiveness, improve quality of the products , production capacity enhancement and alleviating poverty in many nations like India, China, Mexico, Kenya, Turkey, USA , Europe etc.
SME Foundation has conducted a study titled ‘SME Cluster Mapping’ and identified 177 SME clusters scattered across Bangladesh.
SMEs in the economy of Bangladesh have resulted in occupying the dominant source of industrial employment. Development of SME Clusters will definitely contribute progressively on addressing development priorities stated in the “Perspective Plan” of Bangladesh and “Vision 2021”. Cluster development initiative of SME Foundation is not about developing a group of businesses confined in a geographic area. Rather, it is more about creating geographically distributed employment opportunity, eradicating poverty, meeting basic needs of the people, turning a population into a labor force enhancing skill and creating growth induced job opportunities, ensuring a better future for the next generation and thus slowly but steadily transforming the nation.