Development Of Entrepreneurship

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLESALER/RETAILER IN BARISAL CITY

PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY Date of submission: November

, 2008

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page

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DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLESALER/RETAILER IN BARISAL CITY

A Report

By

Group no. 02 Level 03; Semester II Session 2004-2005

COURSE TITLE: ENTREPRENEURSHIP

AND

SMALL

BUSINESS

COURSE CODE: MST 326

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page

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FACULTY OF BUSINESS ADMINISTRATION AND MANAGEMENT

PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY

November

, 2008

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLESALER/RETAILER IN BARISAL CITY

SUBMITTED TO Muhammad Mizanoor Rahman Hawlader Lecturer DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page

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Department of Marketing

Faculty of Business Administration and Management SUBMITTED BY Group no. 02 Level 03, Semester 02 Session 2004-2005

Group List

Abu-Al-Zubair Registration No. 00677 Roll No.018

Shofiq Uddin Khan

Registration No. 00682 Roll No. 023

Dipayan Chakma

Registration No. 00676 Roll No.017

PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page

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Letter of Transmittal

Date: November

, 2008

Lecturer Department of Marketing Faculty of Business Administration & Management Patuakhali Science and Technology University

Subject: Submission of report on Development of Entrepreneurship with reference to several Wholesaler/Retailer in Barisal city

Dear Sir, Here, we submitting our report on “Development of Entrepreneurship with reference to several Wholesaler/Retailer in Barisal city” prescribed by you in your course – Entrepreneurship and Small Business. For this purpose, we have gone through different books, interview of several respondents like wholesaler and retailer and class lecture for the relevant information of assigned topic.

Please call me for any further information at your convenient time place.

Yours truly, Group: 02 Level: 03; Semester: 02 Session: 2004-05

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Contents

TEXTS

Abstract ------------------------------------------------01

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page

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Keywords-------------------------------------------01 Introduction---------------------------------

02

Objectives-----------------------------------------

02

Methodology---------------------------------------

03

Limitation of the Study ------------------------------04 Rationale of the Study--------------------------------

04

Results and Discussions-------------------------------05 Survey Area (Barisal city)-----------------------------06 Socio-Economic Background of Sample Respondents---07 Age--------------------------------------------------Education----------------------------------------------

07 08

Annual Income--------------------------------------Family Size--------------------------------------------

09 10

Occupational Mobility of Sample Entrepreneurs-----11 Potentialities of Entrepreneurship Development-------12 Package

Program

Development-----

for

Entrepreneurship

13

How do the sample entrepreneurs look at such a program?--

14

SWOT analysis---------------------------------------

15

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Policy implication--------------------------------------16 Arrangement of Training Facilities---------------------17 Integrated

Package

Assistance------------------------

18 Motivation to Research on Entrepreneurship---------19 Conclusion -----------------------------------

19

References-----------------------------------20 Appendix-------------------------------------

21

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DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLESALER/RETAILER IN BARISAL CITY

Abstract Entrepreneurship is getting wider attention recently with increasing globalization and also the saturation of the job market due to the recent downturn in the various economies of the world. Bangladesh also emphasizes on a more entrepreneurial economy towards accelerating the economic growth by devoting necessary time and efforts. This study provides a snapshot of the situation by interpreting the opinion of respondents. A questionnaire survey was conducted to collect data for the study. A total of 50 interviewers of various shops at Barisal city were interviewed using a structured questionnaire. The study looked at the development of entrepreneurship with reference to several departmental shops\stores rising and subjective norms which are determinants of entrepreneurial intention and also attempted to find out the mean difference among the groups. All the determinants were found to be positively correlated with entrepreneurial intention. Further analysis of the major variables yielded differences in relation to age, income, education, parental

occupation,

family

size

and

also

prior

experience

with

entrepreneurship course/training. Implications for curriculum are further discussed.

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Keywords: Age, Income, Education, Parental occupation, Family size, Factors Indicating Potentiality of Entrepreneurship, Adequacy and Efficacy of Package Assistance for Entrepreneurship Development, Problems of Entrepreneurship.

INTRODUCTION Entrepreneurship development is a precondition for the economic development of a country. It produced the forces of change and also used them and eventually became the human generator that accelerated the pace of development throughout the world. Over the last several years, some developing countries recorded spectacular growth and success of small entrepreneurs. It is true that a congenial environment is indispensable to create and develop effective entrepreneurs in the country. The poor economy of Bangladesh can hardly afford entrepreneurship development other than in small-scale ventures. In fact, a balance development of the economy is largely contingent upon small- scale enterprises for a good many reasons, viz., huge unemployment, technological backwardness, poor infrastructural frame-work and scarcity of capital etc.

Review of the literature Review of the literature is helpful to find out the research work and reports with relevant to the proposed research and report topic. It aims to instruct in designing the future research problem and examining the validity of new findings. A good number of researches have been done on entrepreneurship development. A few studies have already been conducted regarding the topic which has given below:

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•

Individual Entrepreneurship Capacity and Performance of SMEs was published by Leit˜ao, Jo˜ao and Franco, M´ario University of Beira Interior, University of Beira Interior 09. April 2008

•

Development Of Entrepreneurship With Reference To Poultry Farms Of Chittagong this report was prepared by Mohammad Solaiman and Mohammad Tayub Chowdhury at 2006.\

•

Attributes of Entrepreneurs: Personality, was published by Versus Perspective Caron H. St. John.

Objectives of the Study The main objective of this study is to pin-point the favorable socioeconomic factors and relevant issues for entrepreneurship development with particular reference to developing the departmental stores. In the light of this main objective and the research problem cited above, the specific objectives of the study have been earmarked as follows: (i) To bring to focus socio-economic background of sample entrepreneurs. (ii) To examine the potentialities of entrepreneurship development with reference to sample different shops. (iii) To identify the problems faced by sample entrepreneurs. (iv) To suggest probable lines of action to overcome these problems. Methodology of the Study The present study was confined to the Barisal city. The reason for selecting Barisal was based on the consideration that it will fully represent the picture of a city and be homogeneous in terms of socio-economic environment. The main feature of the present study is the extensive use of primary data relevant to socioeconomic factors by the sample entrepreneurs of departmental store. In order to get the requisite primary data, a structured questionnaire was prepared in the light of the objectives DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 11

of the study. A pilot survey was conducted before the finalization of the questionnaire and expert opinion was also solicited in the finalization of the same. The sizes of sample entrepreneurs were limited to 50. The technique of purposive sampling was used to select the respondents. The size of shops is in about 2000 in the study area. Out of these, 50 shops were chosen for study purpose on purposive sampling basis. The main reasons for limiting the study to 50 shops of Barisal were easy access of the researchers to the sample shops, time and financial constraints at the disposal of the researchers. Requisite data and information were collected through direct interview method by the researchers personally. It may be mentioned that the data and information of this paper were collected during the period from July 2008 to September 2008. The relevant and supporting secondary data were collected through desk study in order to present the fact in a logical format. The desk study covered textbooks, research articles, research monographs and various published & unpublished materials on the subject. The data and information, thus collected were processed and analyzed in order to make the study more attractive, useful and informative to the readers. Various statistical tools namely average and percentages were used in the study. Factors indicating growth of entrepreneurs with reference to weighted scores rated departmental shops. Seven points bi-polar scale systems were used in measuring opinion of the sample respondents. The analyses of findings are made under the following main captions keeping in mind the objectives of the study.

Limitation of the Study This study involves a number of problem and short comings during the conduct of the study which are given below: 1. They are unwilling to provide sufficient primary data to us to prepare the report. 2. Owners of several shops always try to maintain the secrecy of the information.

3. Lack of proper secondary information that is very essential to prepare the report. 4. Previous research papers related this type of research is not available. 5. Vast scope and descriptive nature of study

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6. This study is based upon collected information of 50 samples respondent, which is not

adequate. If the study covers more areas and more samples the results and conclusions of the study might be more meaningful and more useful. Research Gap The literatures reviewed above clearly indicate that the professionals and researchers pay comparatively little concentration to the study upon the socio-economic condition, potentiality, problems etc. considering the development of entrepreneurship. The attributes underlying the successful entrepreneur in Bangladesh have been mostly unexplored. Though entrepreneurship development can accelerated the economic growth but the researchers in Bangladesh do not appear to have much attention too to the studies on such issues. Therefore, no sophisticated research paper or research monograph is available to the researchers.

Rationale of the Study Bangladesh is one of the most populous countries of the world. Within a small territorial area of 55,598 square miles a population of the size of about 15 crores live, majority of them, are illiterate, poor, unemployed. Again, the economy of Bangladesh is day by day becoming industry base and which contributes a big percent of GDP. Entrepreneurship development is one of the most important items in this sector. Thus, by providing employment opportunities, Departmental stores\shops help in reducing unemployment, under-employment and disguised unemployment on one hand and it may play a positive role in increasing economic activities. Again, the Government of Bangladesh for sometimes back has been giving emphasis on balanced economic development. In the latter context, departmental stores/shops has received increased attention of the Government and the people of our country is now involving shops without any hesitation. Economic development and self-reliance for the people have been an important issue in the political and economic arena of the country. Again, the entrepreneurial spirit/initiative is very much present among the people of Bangladesh. So the issue of the entrepreneurship development of Bangladesh in the context of shops development needs to be carefully analyzed. DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 13

RESULTS AND DISCUSSIONS

Entrepreneurship is essentially creative in nature. It is a matter of exploration and initiation of new things, new way of doing things, new methods of production, new use and new market for products or services. But scholars have explained entrepreneurship much above this general definition. Entrepreneurship, according to Schumpeter, is essentially a creative activity, the entrepreneur being an innovator introduces something new into the economy, a method of production not yet tested by experience in the branch of manufacture, a product with which consumers are not familiar, a new source of raw material or new market hitherto unexplored and other similar innovations (Schumpeter 1955: 51-52). Federick Harbison states that the organization building ability is the most critical skill needed for the industrial development. According to him, entrepreneurship means the skill to build an organization (Harbison 1956: 364). However, entrepreneurship is commonly understood as an act of drive, initiative, organized effort and achievement-oriented outlook to perform DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 14

specific function for undertaking productive activities and the capacity to bear associated risk and uncertainty. Obviously, entrepreneurs are keystones in a private enterprise system. They are man of drive, ability, ambition and technical knowledge. They are man of drive, ability, ambition and technical knowledge. They emerge in the society by virtue of their personality characteristics with necessary support from the socio-economic environment of the country.

Survey Area (Barisal City)

Barisal is a district in southern Bangladesh. It is also the headquarters of the Barisal Division. The city lies in the Padma (Ganges) River delta on an offshoot of the Kirtonkhola River. In 1876, Barisal was incorporated into a municipality and later upgraded to City Corporation consisting of 30 wards in 2002. Due to its location and easy access to both riverine and marine navigation channels, it has become a transshipment center for rice, hides, and pulses. Bakery, textile, pharmaceutical products are output of a few industrial installation.

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Socio-Economic Background of Sample Respondents Age Existing literature reveals that there is a relationship between socioeconomic background and entrepreneurship development. The trading and industrial activities call for certain values viz., acquisitive rationality, financial rationality and rationality of work etc. These can be acquired by systematic efforts. But, in a socio-economic inheritance process some benefits, resources and privileges are passed on from the father and other family members to the next generations.

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Entrepreneurship just cannot be considered an individual phenomenon and strictly intrinsic to the personality involved. As such, in order to measure the socio-economic background of the sample entrepreneurs, the main indicators such as – age, education, annual income, family size and occupation have been considered more relevant to the purpose of the study. Age at the Time of Starting, plays an important role in the development process of entrepreneurship. It has been gathered that analyzing the socioeconomic characteristics by age groups is an effective tool in judging the personality of an entrepreneur in entry stage of a venture. The collected data in this regard have been shown in Table – 1. Table-1 Age of sample entrepreneurs at the time of starting their shops\stores Age (in years) Below-20 21-25 26-30 31-35 36-40 41-45 46-above Total [Source: Field Survey]

Number of sample entrepreneurs 3 7 13 15 6 4 2 50

Frequency in percentage 6% 14% 26% 30% 12% 8% 4% 100%

Table- 1 The owners that the sample entrepreneurs had an average (modal) age of 31.91 years at the time of starting their shops. Out of the 50 respondents, 38 (76%) established their shops up to 35 years of their age and only 24% of the total sample entrepreneurs established their shops after reaching 36th year of their ages. The scenario is also the same for other cities entrepreneurs. It is also argued that this is the age when men can exert his talent, skill on one hand and seems to be motivated to contribute towards innovation, risk taking, acquisition of managerial capabilities and in marshalling resources for small ventures like developing departmental store in building his career, on the other. Education

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The formal education has always been considered an important asset of an individual in building his occupational career. Further, education may eradicate inferiority complex and provide social ladder for occupational mobility. However, a minimum level of education seems to be needed to evaluate the opportunity structure and attain the skill to exploit the available opportunity. The collected data in this regard have been shown in Table – 2. Table-2 Table showing education of sample entrepreneurs Education Less than S.S.C S.S.C H.S.C Graduate, Post-graduate Technical & other Total [Source: Field Survey]

Number of sample entrepreneurs 8 15 19 5 3 50

Frequency in percentage 16% 30% 38% 10% 6% 100%

Table-2 reveals that the education level of sample entrepreneurs ranges from 38% in the “H.S.C.” category, followed by 30% respondents having educational background at S.S.C. level. Again, it has been shown that 16%, 10% and 6% of the sample entrepreneurs have educational background Less than S.S.C., being followed by “graduate” and “post graduate, technical and others” respectively. However, it has been gathered that 86% of the Malaysian entrepreneurs have some formal education although the percentage of higher education is not high. Again, most Nigerian entrepreneurs are primary school leavers and Hong Kong entrepreneurs have lower level of academic achievement and Chinese generally thinks business as a substitute for education. But, the formal education is expected to increase the supply of entrepreneurs by making available more skill, which is necessary to entrepreneurial endeavors. Annual Income Income may be conceived as a motivating factor, which induces a man to play a positive role in sharpening his career and skill. Moreover, the income level is one of the significant ingredients of financial incentives and thereby, ultimately affects development processes of

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entrepreneurship. Against this background, the monthly income of sample entrepreneurs have revealed in Table- 3. Table-3 Table showing sample Entrepreneurs According to Income level Income Group (In taka)

Number of sample Entrepreneurs

Frequency in percentage

Below – 4000 4001 – 7000 7001 – 8000 8001-11000 11001-12000 12001- 15000 15001 and above

3 7 10 15 8 5 2

6% 14% 20% 30% 16% 10% 4%

Total [Source: Field Survey]

50

100%

Table- 3 shows that out of 50 sample entrepreneurs interviewed, 30% have monthly income between Taka 6001-9000, followed by 20% with income distribution of Taka 5001-6000 and by 16% with income between Taka 9001-10000. It further portrays that the sample entrepreneurs numbering 7 (14%), 5 (10%), 3 (6%) and 2 (4%) fall with in the income groups of Taka 2001-5000, 10,001-13,000 below 2000 and 13001 & above respectively. It is also true that economic gains are always conceived as a means to or as an indicator of social status. This observation elucidates the faith on money power to gain status in the society (Siet 1974: 27). Family Size This factor has definite bearing on level of savings and investment and therefore on the emergence and development of entrepreneurs. The small family size of Hong Kong entrepreneurs has enabled them to carry on business with own savings. This has perhaps encouraged greater amount of profit recycled for expansion and growth. In such a context, the survey results have been shown in Table – 4. Table – 4 Distribution of Sample Entrepreneurs According to Family size Family size

Number of sample entrepreneurs

Frequency in percentage

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Up to- 2 3-4 5-6 7-8 9 and above Total [Source: Field Survey]

5 15 21 7 2 50

10% 30% 42% 14% 4% 100%

Table – 4 reveals that out of 50 respondents, 21 (42%) have family size between 5 – 6, followed by 15 (30%) with family size between 3 – 4 and by 7 (14%) with family size between 7- 8. The table further shows that the sample entrepreneurs numbering 5 (10%) and 2 (4%) fall within the family size of up to 2, on one hand, and 9 & above on the other. It is, thus, asserted that the larger family size of sample entrepreneurs perhaps causes lower rate of savings and investment, which, in turn, may lead to adverse impact on the flourishment of entrepreneurship. Occupational Mobility of Sample Entrepreneurs The occupational mobility in a society, where an individual has greater freedom of choice, is mainly determined by factors like motivation, efforts of an individual and opportunities available. Moreover, it is argued that the socio-economic position of the father, as indicated by his occupation, helps the entrepreneurs financially in building their occupational career as entrepreneurs. In such a context, the collected data in this regard have been shown in Table – 5. Table – 5 Distribution of Sample Entrepreneurs According to parental occupation Parental occupation Farming Service Official Business Laborers Total [Source: Field Survey]

Number of sample entrepreneurs 4 9 7 27 3 50

Frequency in percentage 8% 18% 14% 54% 6% 100%

Table-5 shops owners that the occupational mobility of 27 (54%) sample entrepreneurs out of a total of 50 have been business, followed by 9 (18%) with service. It has been further DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 20

revealed that 7 (14%), 4 (8%) and 3 (6%) of the sample respondents pointed out service in office, farming and labour as their parental occupation. Moreover, the parental occupation is an enabling factor since the bundles of skill, experience and training necessary to sense, view, evaluate and exploit given opportunity can be obtained from parental circle free of cost, easily, quickly and without undergoing exploitative apprenticeship system (Chowdhury 1988: 6). It has been gathered that 84% of Indian, 79% of Hong Kong and 84.5% of Malaysian entrepreneurs originate from non-farm parental occupation background. It is found that relevant parental occupation counts for success in entrepreneurship (Ouh 1978). Potentialities of Entrepreneurship Development The link between entrepreneurship and economic development is important for any country. The determinants of entrepreneurship development are based on the socio-economic conditions of a country. However, foreign scholars who have studied the socio-economic and cultural setting of Bangladesh appear to think that Bangladesh has youths with potentiality to be developed as entrepreneurs (Habibullah 1985: 49). A.F.A. Hossain fined that the entrepreneurs in Bangladesh possess sufficient intelligence and smartness to take advantage of available business opportunities (Hossain 1963). Study of Abdullah Farouk shows the same result (Farouk 1983: 79). These are indicative of the potentialities of entrepreneurship that can be developed. In such a context, the collected data in this regard have been revealed in Table-6. Table – 6 Factors Indicating Potentiality of Entrepreneurship Development Factors

Entrepreneurs Ranking of factors No.1 No. 2 No. 3

Weighted scores

Rating percent

Rank No.

To be self employed

33

9

5

122

32.70

1

To earn more money

9

23

6

79

21.70

2

To gain social status

13

9

7

64

17.68

3

To use abundant material & cheap human resources

7

10

6

47

12.98

5

13.81

4

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To choose shop keeper as a career

11

6

Total [Source: Field Survey]

73

57

5

29

50

362

100.00

-

[Note: The ranking factor indicates 3, 2 and 1 points respectively. The overall rankings have been made on the basis of the percentage of total weighted scores for each facilitating factor.] Table – 6 reveals the major factors as opined by sample entrepreneurs regarding potentiality of entrepreneurship development. It shows that more than 32% respondents regard “self employment” as a significant factor. It occupies the highest position in the overall ranking. Again, 33 of them ranked it first, 9 ranked second and 5 of the sample respondents ranked it third. The table further reveals that the factors of potentiality ranges from use of abundant material & cheap human resources having 12.98% at the lowest, ranked at fifth, to earning more money with 21.82% at the second highest, i.e., ranked at second position. It is further observed that 9 sample respondents ranked it as factor number one, 21 as factor number two and 6 as the third potential factor. It is also revealed that the other factors of potentiality are gaining social status and choosing poultry farming as a career and in terms of rating are 17.68% and 12.98% respectively. From the above facts it can be inferred that the potentiality of entrepreneurship development in the study areas of sample respondents is of very high degree.

Package Program For Entrepreneurship Development: It’s Adequacy In order to build up a stout and healthy nation, self employment is essential. The economic development of the country can be augmented by raising entrepreneurship in a large scale. Entrepreneurship development involves the development of the entrepreneur himself, the human factor, and also creation of an environment where entrepreneurial activities can flourish. Moreover, it depends on multiple factors, which may be offered in an integrated package program. This type of program includes: DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 22

(i) Stimulatory activities, (ii) Supportive activities and (iii) Sustaining activities.

How Do The Sample Entrepreneurs Look at Such A Program? How far such a package program is adequate? How far such a package program is adequate? These pertinent questions require attention. Recognizing the need for knowing the attitude of the entrepreneurship development, relevant information has been collected from the sample entrepreneurs. Table – 7 reveals the opinions expressed by the sample respondents regarding the factors of adequacy and efficacy in the area concerned have been processed through 7 – points bi-polar scale system. In this scale, + 3 indicates full satisfaction, + 2 medium satisfaction and + 1 least satisfaction and, on the contrary, - 3 indicates complete dissatisfaction, - 2 moderate dissatisfaction and – 1 least dissatisfaction.

Table – 7 Opinions of the Sample Entrepreneurs Regarding Adequacy and Efficacy of Package Assistance for Entrepreneurship Development Variables

Average Score

Remarks

Techno-economic information is available

1.4

Insignificant

Motivational training for entrepreneurship is purposeful

1.6

Insignificant

Entrepreneurial education is adequate

1.5

Insignificant

Stimulatory activities:

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Publicity for entrepreneurial opportunities is

1.5

Insignificant

Availability of land, electricity etc.

2.0

Insignificant

Provision for tax relief is adequate

1.7

Insignificant

Arrangement of fund is adequate

2.3

significant

Marketing facilities are adequate

2.1

Significant

Full capacity utilization is ensured

1.7

Insignificant

Modernisation, diversification & expansion programme is purposeful

1.4

Insignificant

1.72

Insignificant

Supportive activities:

Sustaining activities:

Total [Source: Field Survey.]

Table-7 respondent that the average score for all the 10 sub-variables taken together is 1.63. The range of score is from 1.5 to 2.0. It is indicative of the inadequacy and inefficiency of the integrated package assistance measures for entrepreneurship development in selected areas of sample farms. It is observed that some components of the programmed, viz., publicity for entrepreneurial opportunities, availability of land water etc. indicate significance, which indicates adequacy and efficiency.

Problems of Entrepreneurship Development

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Many problems engulf the processes of entrepreneurship development among the sample entrepreneurs of study areas in selected retailers and wholesalers. Based on empirical data a number of problems has been identified which are revealed in Table- 8 in order of magnitude. Table – 8 Opinions of the Sample Entrepreneurs Regarding Problems of Entrepreneurship Development Problems

Frequency in percentage

Instability of Govt. policy in the issue concerned Lack of adequate financial support

100

Absence of entrepreneurial courses in the curriculum of educational organization

67.33

Ineffective motivational programs

50.66

Lack of effective training programs

40.55

Absence of effective management information system (MIS)

33.33

Lack of research on entrepreneurship problem

26.67

100

[Source: Field Survey] Table –8 owners that instability of Govt. policy and lack of adequate financial support are two most important problems in the process of entrepreneurship development. Absence of entrepreneurship courses in the curriculum of educational institutions affect the entrepreneurship development adversely which ultimately frustrate the sample entrepreneurs in taking right decision in right time like shifting to new production technology or expanding new venture. Motivational programs offered by Government and other development agencies do not reportedly cover the prospective entrepreneurs. Scope of training to develop skill is far from satisfactory. It appears from the observation that MIS and research on entrepreneurship problems are absent in study areas. Thus, it has been found that the sample entrepreneurs are deprived of receiving right information in right time and their attitude towards integrated package program do not corroborate in the formulation of programs of entrepreneurship development of the country.

Policy Implications DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 25

Although the present study was confined to some selected shops, it may be appropriate to state briefly the policy implications arising from the findings of the study. In this context, the following policy actions may be considered worthwhile. Courses on Entrepreneurship may be Introduced in the Curricula of Educational Institutions Courses on entrepreneurship may be introduced in the curricula of Secondary and Higher Secondary Education in Bangladesh so that school/college dropouts are exposed to possibilities of independent economic status. Further, the youngsters, on completion of school college education may emerge as a jobcreator instead of job seekers. In Bangladesh, profitable investment avenues are available in various fields like departmental stall involving simple technology, small capital and low gestation period. Availability of Credit Facilities Adequate institutional credit facilities may make available to sample poultry farmers so that they do not fall prey to moneylenders. Further, red-tapism of the bank officials needs to be simplified, so that prospective entrepreneurs can avail themselves of credit facilities offered by concerned agencies.

Arrangement of Training Facilities Training to entrepreneurs has become an essential factor at this moment. For better assessment of training needs, training of entrepreneurs is most essential. It is also necessary to train the trainers ASIAN of entrepreneurs. Further, local resources, technology and existing stock of problems may be considered in designing training courses for entrepreneurs like shop keepers. In this context, educational institutions, professional bodies can also cooperate and collaborate.

Integrated Package Assistance Integrated package assistance, viz., stimulatory, supportive and sustaining services may be offered by the governmental and promotional agencies to the sample entrepreneurs in order to develop entrepreneurship in study areas. For this purpose, clear-cut policy decisions may be advocated.

Motivation to Research on Entrepreneurship

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Government and other funding agencies like CIDA, USAID, ADB and others may motivate research works by concerned parties on relevant aspects of entrepreneurship development which, in turn, may lead to solve the problems of entrepreneurship development of the country.

SWOT Analysis SWOT means strength, weakness, opportunities and threat. It is essential for evaluation of a entrepreneurship development and its future. It provides information and condition/ status on the present situation. From this the government could take an appropriate decision for further market development. Strength For development of entrepreneurship as the development of wholesaler and retailer, the strength of Barisal city are well arranged internal communication, high adoption ability of the customer for new product concept, the involvement of whole seller and retailer in entrepreneurship at a very early age etc. Weakness Ineffective motivational programs, Absence of entrepreneurial courses in the curriculum of educational organization, instability in profession, high reflection by the customer - these are the main weakness for the development of entrepreneurship in Barisal city. Opportunities The opportunities for entrepreneurship development are- high education level, large market size, and high consumption rate of customers etc.

Threats Several threats are presented in Barisal such as- instability of Govt. policy in the issue concerned, lack of effective training programs, lack of adequate financial support, lack of research on entrepreneurship problem, low power supply and tax burden.

CONCLUSION

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In conclusion, it may be opined that the study area has growth potentials of entrepreneurship in various sectors like departmental store building. Therefore integrated package program may be launched for solving existing problems there to. Thus, the concerned agencies may take appropriate policy action for entrepreneurship development in various sectors like departmental store building in the study area as well as in Bangladesh too.

REFERENCES Ahmed, Shahid Uddin (1985), “Entrepreneurship Development with some Reference to Bangladesh” in Abdul Mannan (ed.), Entrepreneurship and Management in Bangladesh, Chittagong University: Bureau of Business Research. Bangladesh Economic Survey (2000—01), Ministry of Finance, Government of Bangladesh. Chowdhury, A. J. M. Nuruddin (1992), “Problems of DFI- Financed

DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 28

Entrepreneurs in Bangladesh” in K. A. Nabi (ed.), development Financing Institutions (DFI) of Bangladesh: Policy, Performance, Problems and Prospects, Dhaka: Goeth- Institute. Chowdhury, Abdul Mannan (1980), “The Emergence and Growth of Entrepreneurs in some Developing Countries”. The Dhaka University Studies Prat-C, Vol. 9(1). Deshpande Manohar U. (1982), Entrepreneurship of Small- Scale Industries, New Delhi: Deep Publications. Enke, Stepen (1978), Economics for Development, New Jersey, Prentice-Hall Inc. Farouk A. (1983), “Lessons from a Biographical Survey of Bangladesh Entrepreneurs”, The Dhaka University Studies, Part- (c). Habibullah, M. (1985),“Entrepreneurship Training & Development” in Abdul Mannan (ed.), Entrepreneurship and Management in Bangladesh Chittagong University: Bureau of Business Research. Harbison, Federick (1956),“Entrepreneurial Organization as a factor in Economic Development”, Journal of Economics, Vol. LXX, No. 3.

APPENDIX. A AN INTERVIEW SCHEDULE ON DEVELOPMENT OF ENTREPRENEURSHIPWITH REFERENCE TO SEVERAL DEPARTMENTAL STORES\SHOPS RISING OF BARISAL CITY

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Sample no:

Name: Name of the organization: Age: Sex: Address: Phone:

01. At which age you have started your store? A.Below-20

E.36-40

B.21-25

F.41-45

C.26-30

G.46-above

D.31-35

02. At which level of education you have completed? A. Less than S.S.C B. S.S.C C. H.S.C D. Graduate, Post-graduate E. Technical & other

03. What about your Income level? A. Below – 4000 B. 4001 – 7000 C. 7001 – 8000 DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 30

D. 8001-11000 E. 11001-12000 F. 12001- 15000 G. 15001 and above

04. What is your Family size? A. Up to- 2 B. 3-4 C. 5-6 D. 7-8 E. 9 and above

05. What was your parental occupation? A. Farming B. Service C. Official D. Business E. Laborers

06. Factors Indicating Potentiality of Entrepreneurship Development A. To be self employed B. To earn more money C. To gain social status D. To use abundant material & cheap human resources E. To choose shop keeper as a career

Entrepreneurs ranking of factors No.01

No.02

No.03

07. Factors Indicating Potentiality of Entrepreneurship Development

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Variables

High satisfaction

Medium satisfaction

Least satisfaction

Least dissatisfaction

Moderate dissatisfaction

Complete dissatisfaction

Stimulatory activities: • Technoeconomic information is available • Motivational training for entrepreneu rship is purposeful • Entrepreneu rial education is adequate • Publicity for entrepreneu rial opportunitie s is Supportive activities: • Availability of land, electricity etc. • Provision for tax relief is adequate • Arrangemen t of fund is adequate Sustaining activities: • Marketing facilities are adequate • Full capacity utilization is ensured • Modernizati on, diversificatio n& expansion program is purposeful DEVELOPMENT OF ENTREPRENEURSHIP WITH REFERENCE TO SEVERAL WHOLE SALER/RETAILER IN BARISAL CITY Page 32

08. Opinion of the Sample Entrepreneurs Regarding Problems of Entrepreneurship Development

Problems Instability of Govt. policy in the issue concerned Lack of adequate financial support Absence of entrepreneurial courses in the curriculum of educational organization Ineffective motivational programs Lack of effective training programs Absence of effective management information system (MIS) Lack of research on entrepreneurship problem

09. General opinion----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Date: Signature of the interviewer

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