A New Approach to Cluster-Based SME Development
3 Pages Posted: 11 Aug 2013
Date Written: November 19, 2011
The small and medium enterprises (SMEs) are familiar as the engine of growth in developing economies. They are helping in economic development from two dimensions. Firstly by producing goods/services. Secondly by employing more labour with comparatively low investment. Employment generation and GDP growth both are very much important for sustainable development of an economy. Bangladesh is maintaining 4-6.5% GDP growth during last two decades. It experienced several downturn of GDP growth in the same period. But we do not know why this downturn occurred.
Sometimes we blamed natural disasters, political unrest and so on. But we actually never try to find out the real cause and take actions to avoid any further downturn. As a result, till now we are in and around 5-6 % growth.
Keywords: Cluster Development, Industrial Development, Industrialization
Suggested Citation: Suggested Citation