Entrepreneurial Ecosystem Needs Improvement
3 Pages Posted: 22 May 2018
Date Written: May 8, 2018
Renowned investment banker Goldman Sachs and economist Jim O'Neill identified Bangladesh as one of the Next Eleven (N11) countries along with Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea and Vietnam back in 2005. In one of his recent articles published by BARRON'S on 28 April 2018, O' Neill praised Vietnam for its successful journey of economic development from 2005 to 2018. He described Turkey and South Korea as countries having living standards similar to the European countries. But he was completely silent about Bangladesh.
Similarly, JP Morgan identified Bangladesh as one of the Frontier Five (Frontier 5) countries along with Vietnam, Nigeria, Kazakhstan and Kenya in 2007. JP Morgan revised this list of Frontier Five in 2017 by keeping Ghana, Dominican Republic, Egypt, Peru, and Colombia in the list, which they felt have more investment opportunities and prospects. Bangladesh was again missing from this list as well. Therefore, it is time for Bangladesh to rethink its entrepreneurial ecosystem: Why we are absent from such influential global ratings? Is it because Bangladesh was more promising for investment in 2005 or 2007 than the developing Bangladesh of today? Or is it because our entrepreneurial ecosystem is becoming more complex due to absence of certain entrepreneurial tendencies or features?
Keywords: Entrepreneurship, Entrepreneurship Development, Environment to Develop Entrepreneur, Entrepreneurial Echosystem
JEL Classification: L26, L31
Suggested Citation: Suggested Citation