INNOVISION Consulting has partnered with the SME Foundation to update Bangladesh’s National SME Policy, aiming to create a more resilient, inclusive, and sustainable business environment. A signing ceremony and inception meeting took place on March 2, 2025, at SME Foundation, Agargaon, Dhaka.
With SMEs contributing 25% to GDP and employing 24 million people, the revised policy will address financial inclusion, digital transformation, sustainability, and global market integration. The process will involve consultations with policymakers, SME leaders, financial institutions, and industry experts, alongside regional policy dialogue workshops and a review of international best practices.
“We are proud to collaborate with SME Foundation on this important initiative. We now need a revised definition of a SME as the current definition is setting the primary barrier for SMEs to flourish,” said Md. Rubaiyath Sarwar, Managing Director of INNOVISION Consulting. He also added that the focus should shift from increasing the number of SMEs to increasing the value current SMEs are providing and that can only be realized if we ensure the demand through favorable and inclusive SME policy. He believes that this policy revision will modernize Bangladesh’s SME landscape and ensure long-term economic growth.
The updated SME policy, set to be finalized soon, will strengthen Bangladesh’s SME sector and contribute to the country’s LDC graduation and industrialization goals.