POBNEWS24, Desk report Oct 1,2021 :Young entrepreneurs want to survive in this time of coronation. These small capital entrepreneurs want to get uninterrupted opportunities. But their complaint is that new entrepreneurs are in trouble step by step.
Some of the young entrepreneurs have said that they have to be members of the association to get money for export incentives. They have to pay Rs 50,000 to Rs 1 lakh for this. Some have said that it is harassing to register for VAT. The young entrepreneurs also complained about the lack of sufficient information to start and run a business.
The young entrepreneurs raised these issues at a meeting at the Prothom Alo office in the capital’s Karwan Bazar on Thursday. The rules for young entrepreneurs to do business should be simplified.
IDLC SME Award 2021 organized by Prothom Alo organized on the occasion of the meeting of young entrepreneurs in the first light . Prothom Alo editor Matiur Rahman addressed the meeting . The program was conducted by Munir Hasan, head of youth activities of Prothom Alo . At the meeting, the entrepreneurs shared their problems and stories of moving forward.
Prothom Alo editor Matiur Rahman said, “We want to bring up the possibilities and problems of young entrepreneurs. We know there are a lot of problems. Despite this, young entrepreneurs are contributing to the economy. He said the SME Award has been launched in association with IDLC to encourage and recognize young entrepreneurs. Hopefully, this arrangement will continue.
Where young entrepreneurs get stuck
Habibur Rahman, a young entrepreneur and CEO of Moonlight Pet Flex, said at the meeting that one has to be a member of the concerned association to get incentive money by exporting products. If you are not a member of the association, the incentive money will not match. As a new entrepreneur, you have to pay Rs 50,000 to Rs 1 lakh to become a member of those associations.
Tania Wahab, head of the artisan, pointed out the problem of tax deduction at source at a high rate at the supply level. He said 6 per cent advance tax is deducted if goods or services worth more than Tk 2 crore are provided. It is now very difficult for a trader to make a profit of 7% by selling a product worth one hundred rupees.
Nasima Akhtar, president of Women in E-Commerce, said doing business requires different types of paperwork. It took a year to prepare these documents. New entrepreneurs are discouraged from doing business because it takes so long.
* Export incentives do not match without registration of the association. * Harassment to get VAT registration * It takes various documents to get a loan. * Entrepreneurs fall behind due to lack of information.
Gazi Touhidur Rahman, managing director of FM Plastic Industries, said that the lack of credible information is also a big obstacle in starting a business. He said young people want to be entrepreneurs instead of jobs. But you don’t know what to do to start a business, what kind of paperwork you need. Moves from one office to another. If all the information was in one place, it would be easier for those who want to be entrepreneurs.
An organization called ‘Protein Market’ trades in animal meat products. Safiul Alam, managing director of the company, said the rent for a 200-square-foot space in Bangladesh is Tk 20,000-30,000. But in India the same amount of space rent is only six thousand rupees. How can the entrepreneurs of this country survive with so much rent?
Sabbir Ahmed, co-founder of MediAid, a medical service provider, shared his experience of harassment at the VAT office. He said, ‘I did not get the registration even after a week of applying for VAT registration. A call to the hotline a week later said the contract with the hotline operator had expired. After that I went to the VAT office of the National Board of Revenue (NBR) but could not find a solution.
Shahinas Helpline advises young entrepreneurs. Aminul Islam, the founder of the organization, said that one has to pay up to one lakh rupees to become a member of the association. But everyone is small and medium entrepreneurs. The fee for their membership should be one.
IDLC Chief Marketing Officer Jane Alam, Government Idea Project Consultant Alaul Kabir and others also spoke on the occasion.
