INSPIRED is the acronym for Integrated Support to Poverty and Inequality Reduction through Enterprise Development, the name of a programme funded by the Government of the People’s Republic of Bangladesh and the European Union. Its objective is to develop SMEs in Bangladesh – SMEs are Small and Medium Sized Enterprises – the driving force behind modern economies.
- Deliver a multi-sectoral and inter-ministerial national strategy and action plan for SME development which addresses all aspects of SME support including improving the business environment in line with accepted international best practice;
- Develop a strengthened national capacity to plan and implement SME development;
- Establish effective SME networking mechanisms aimed at sharing best practice;
- Provide a SME Competitiveness Grant Scheme of €6.5m to Business Intermediary Organisations such as Chambers Of Commerce and Industry or cluster associations to work with groups of SMEs to improve their competitiveness in the following sectors: agro-processing, natural fibres, leather, plastics, light engineering, electronics, furniture and textiles;
- Support clusters by using value chain development initiatives that seek to increase SME competitiveness in agreed sectors and provide capacity building to business intermediary organisations (BIOs) in lobbying, advocacy, networking, public-private sector dialogue and the provision of business development services (BDS) to their members.