The Role Of Small And Medium Enterprises In The Economic Growth Of China:Lessons For Bangladesh

Small and Medium Enterprises-SME’s is considered as the empowering tool for the citizenry and economic growth worldwide.This has been intertwined with fast economic growth of the well developed countries across the world.To compete with the economic challenges,small businesses are developing new ideas,employing additional workers,and producing innovative products and services.This study,The Role of Small and Medium Enterprises in the Economic Growth of China: Lessons for Bangladesh,was undertaken to examine the significant role of small and medium enterprises(SME’s)on Chinese economy.This paper also scrutinizes some success factors of Chinese enterprises what Bangladesh can take as a standard to develop its SME’s for economic acceleration,job creation and poverty alleviation.In addition,there has been given an effort to depict a sketch of the current status of SMEs in China and Bangladesh.In spite of having different types of development policies SMEs in Bangladesh have been failure to fulfill its goals.So a close attention has been given to this aspect and then the ways about how can this flaw remove has also been discussed here.To fulfill the objective of this study,the paper analyzed SME related books,articles,journals,newspapers and magazines of both countries.As China in terms of technology,policy making and financing is more advanced than Bangladesh,so the standard or idea what they are applying in SME sector Bangladesh can follow for the development of its SMEs and can pack up the highest benefit of that policies.However,it has been clear about this study that Chinsese SMEs is more successful and productive than that of Bangladeshi SMEs.Different policy initiatives that have been taken and implemented by Chinese government made it possible.These initiatives include steps regarding convenient business environment,taxation,subsidies,political stability etc.In addition,timely reformation and establishment of different institutes and organizations to oversee the reality prevailing among SMEs accelerate the productivity and rapid development of this sector.For Bangladesh all these factors and techniques can be the pathway to make its SME sector much more successful and productive.