The training programme “Generate Your Business Idea” (GYBI) of the ILO, Country office, Dhaka that was delivered in partnership with Bangladesh INSPIRED between February and July 2016,as the first module of the ILO flagship training programme, “Start & Improve Your Business (SIYB), proved to be very successful.
Building on that success, Bangladesh INSPIRED, once again partnered with ILO, Country office, Dhaka, to organise a series of training programme for SMEs, operating in high priority sectors and women entrepreneurs on “Entrepreneurship Development & Business Management (EDBM)”,as a part of the second module of Start & Improve Your Business (SIYB)” programme of ILO, with the support of Bangladesh Bank Training Academy.
The main objective of this training programme isto enable potential and existing small entrepreneurs, both women and men, to start viable businesses, and strengthen the viability and profitability of existing enterprises. The training programme is designed to include interactive business exercises, where the participants learn to understand theories of entrepreneurship and business development, develop understanding of the key resources required to develop an existing business such as ideas and finance, how to launch a new venture or initiate a business enterprise. By the end of the training participants would be able to gaine knowledge on the creation of business sustainability; identify the key factors and are able to apply the key entrepreneurial process of command and control and taking calculated risks.
One of the primary reasons for including SMEs operating in high priority sectors and women entrepreneurs is because many struggle to compete in their business due to the lack of knowledge and appropriate skills. This training programme is designed to eliminate those barriers and provided an opportunity to test and nurture the required entrepreneurial skills. The first session of the training was successfully completed with participation of 30 trainees group from different Business Intermediary Organisations (BIOs), National Association of Small & Cottage Industries of Bangladesh (NASCIB), and SME Foundation. This first five-day training programme took place between 23rd to 27thJuly 2016.
The second session the training programme was delivered between 20th and 24th August 2016, with participation of 25 trainees coming from different BIOs, which has resulted in enhancing the skill and knowledgeof the trainees of tee key concept in entrepreneurship and business management
The INSPIRED project aims at conducting up to two more training sessionson “Entrepreneurship Development & Business Management (EDBM) as part of improving the efficiency and competiveness of SMEs in Chittagong and Sylhet
The successful completion of the first two sessions of this training programme provided an example of how various concerned organisations: ILO, European Union-INSPIRED Project, Bangladesh Bank Training Academy and different BIOs can pool their resources and take initiatives to motivate, train and encourage SMEs and entrepreneurs.