Bangladesh sees surge in entrepreneurs and jobs, ‘lack of capital’ for 86%, survey finds

A survey finds 86 percent of entrepreneurs are struggling to run their businesses due to insufficient capital

Bangladesh has witnessed a near 50 percent rise in the number of economic units -- permanent or temporary enterprises -- over the past decade.

According to the Economic Census 2024 released by the Bangladesh Bureau of Statistics (BBS) on Tuesday, the country has 11.72 million economic units, up from over 7.8 million in 2013 -- a 49.68 percent increase in 11 years.

These establishments employ more than 30 million people, compared with 24.58 million in 2013, marking a 25.03 percent growth in employment.

During the survey, 86 percent of entrepreneurs identified a capital crunch as their main challenge.

Other constraints included limited access to loans, a shortage of skilled labour, inadequate raw materials, rising production costs, marketing difficulties, weak infrastructure, and electricity and fuel shortages.

The census found around 7.39 million economic units in rural areas and 4.31 million in urban centres.

More than 53 percent of the units are permanent establishments, with a large share comprising micro and cottage industries.

Micro industries account for 56.67 percent of units, while cottage industries make up 38.74 percent.

State Minister for Planning Zonayed Saki said the government prioritises transparency, accountability, and evidence-based policymaking as part of its development philosophy.

Calling the survey a milestone, he said: “The results of the Economic Census 2024 present a comprehensive, dynamic and promising picture of our economy.”

Bangladesh conducted its first economic census in 1986, followed by the second in two phases in 2001 and 2003, and the third in 2013.

The latest census was conducted from Dec 10 to 26 last year under the Economic Census 2023 project, marking the first use of electronic devices for data collection.