The Development of Youth Entrepreneurship in Bangladesh

Young people aged 18 to 35 constitute one-third of the total population of Bangladesh and youth unemployment has significant negative consequences for society and the national economy. The Department of Youth Development (DYD) has been given the responsibility for transforming the youth into a productive workforce in Bangladesh. From its inception, DYD has trained up 3.2 million young people of which about 1.8 million are now self employed. This study finds that the growth of youth entrepreneurship in the DYD supported Programme is being inhibited by factors like inadequate financing, collateral burden, low managerial and technical skills, high cost of raw materials and production machineries, natural catastrophe, turmoil political and legal system, lack of infrastructural facilities and utility services, social and cultural barriers and low stability of the youth. Despite the negative factors, some positive factors like life skill training, the encouragement of trade, low interest rates, grace period and less time expenses in getting credit are acting positively to boost up entrepreneurship under the concerned programme.