Small and Medium Enterprise Foundation

Small and Medium Enterprise Foundation (SMEF) (Bengali: ক্ষুদ্র ও মাঝারি শিল্প ফাউন্ডেশন (এসএমইএফ)) was established by the Government of Bangladesh through Ministry of Industries. In line with the SME Policy 2019, Industrial Policy 2016, 8th Five Year Plan, Vision 2021, SDG 2030 and Vision 2041, SMEF has been implementing multifaceted activities like business support services and market linkage support for SMEs, improve access to institutional finance for SMEs, design and implement development interventions for SME clusters, identify problems and prospects of SMEs by conducting necessary research, strengthen regulatory and legislative framework in favor of SMEs, promote up-gradation and adoption of appropriate technologies, increase SME business efficiency by using ICT-based tools, provide capacity building trainings for developing adequate human resources for SMEs, and assist women entrepreneurs. SMEF’s one of the major focus is the Cluster-based SME development. Professor Dr. Md. Masudur Rahman is the chairman of the Small and Medium Enterprise Foundation.[1]

Small and Medium Enterprise Foundation
AbbreviationSMEF
Motto"এসএমই খাতের উন্নতি, শিল্পায়নের চালিকাশক্তি"
Formation2007
TypeGovernment
Legal statusAutonomous Organization established by the Ministry of Industries, Government of the Peoples' Republic of Bangladesh.
PurposePromote Micro, Small and Medium Enterprises
HeadquartersDhaka, Bangladesh
Location
  • E-5 C/1, Agargaon Administrative Area, Dhaka-1207.
Region served
Bangladesh
Official language
Bengali and English
Parent organization
Ministry of Industries, Government of the Peoples' Republic of Bangladesh.
Websitesmef.gov.bd

History

Small and Medium Enterprise Foundation was established in 2007 with an initial fund of 2 billion taka. The first SME Policy was formulated in 2005 with a view to creating an enabling environment for the SME sector development. Following the policy, the Bangladesh Government established Small and Medium Enterprise Foundation (SMEF) as a pivotal platform for the delivery of all planning, developmental, financing, awareness-raising, evaluation and advocacy services in the name of all MSME development as a crucially-important element of poverty alleviation. There is a commitment in the National Industrial Policy 2016 to prepare a specific and time-bound SME development plan with a view to proper implementation of SME Policy. Under these circumstances, the government has approved the SME Policy 2019 with appropriate action plan. The responsibility for overall implementation of the strategies and action plans is entrusted to the Small and Medium Enterprise Foundation (SMEF). Now, for the overall development of the country's MSME sector, SMEF has been conducting its activities in accordance with the Hon'ble Prime Minister's Election Manifesto-2018, SME Policy-2019, Industrial Policy-2016, 8th Five-Year Plan, Vision-2021, SDG-30 and Vision-2041.

References
  1. "Small enterprises make big contribution". theindependentbd.com. Retrieved 7 April 2020.
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