Understanding the Concept of SMEs in Driving Economic Growth and Development in Bangladesh

Small and Medium Enterprises (SMEs) play a vital role in Bangladesh's economy and have been recognized as a significant catalyst for poverty reduction programs and economic growth. Therefore, it is essential to have a comprehensive understanding of the concept of SMEs and their role in driving economic growth and development. Consequently, this study endeavors to explore the definition of SMEs, their present status, and their contributions to the development of Bangladesh’s economy. Using a quantitative research method, the study performed a descriptive statistics analysis on data gathered from diverse sources, including academic, governmental, and private institutions, as well as pertinent literature from researchers, academics, and scholars. The study has found that the definition of SMEs in Bangladesh has undergone changes over time. The study findings also revealed that the growth of SMEs has had a significant impact on various economic indices in Bangladesh, contributing positively to the country's economic development. Hence, the findings of this study can provide valuable insights to readers seeking a comprehensive understanding of SMEs in the context of Bangladesh. Moreover, policymakers can utilize these findings to introduce well-suited policies and initiatives that will foster the future development of the SME sector

Understanding the Concept of SMEs in Driving Economic Growth and Development in Bangladesh

Small and Medium Enterprises (SMEs) play a vital role in Bangladesh's economy and have been recognized as a significant catalyst for poverty reduction programs and economic growth. Therefore, it is essential to have a comprehensive understanding of the concept of SMEs and their role in driving economic growth and development. Consequently, this study endeavors to explore the definition of SMEs, their present status, and their contributions to the development of Bangladesh’s economy. Using a quantitative research method, the study performed a descriptive statistics analysis on data gathered from diverse sources, including academic, governmental, and private institutions, as well as pertinent literature from researchers, academics, and scholars. The study has found that the definition of SMEs in Bangladesh has undergone changes over time. The study findings also revealed that the growth of SMEs has had a significant impact on various economic indices in Bangladesh, contributing positively to the country's economic development. Hence, the findings of this study can provide valuable insights to readers seeking a comprehensive understanding of SMEs in the context of Bangladesh. Moreover, policymakers can utilize these findings to introduce well-suited policies and initiatives that will foster the future development of the SME sector

Leadership in SMEs: A Review of Different Leadership Styles and their Relevance to SME Management

This review study was motivated by the premise that the relevance of leadership concepts to small and medium enterprises (SMEs) is a key factor to effective management. Because the use of an appropriate leadership style enables the SME management to move forward and to be successful in achieving organizational goals. This academic evaluation examines the concepts of leadership, leadership styles and their relevance towards the improvement of SME management. It begins with a concise overview of the meaning and concept of leadership and then follows with an examination of different leadership styles usually relevant to SME management. This study followed a qualitative research approach where secondary research data from previously published research articles, books, journals, conference papers, reports, and dissertations was integrated and interpreted. Based on the existing reliable literature, this review study validates that the identification and application of the most appropriate leadership style or the combination of leadership styles is highly important in achieving the common goal, which ultimately results in the SME's overall success