A significant 83 per cent cottage, micro, small and medium enterprises (CMSMEs) did not get stimulus relief as the same was not tailored well and did not even consider the needs and challenges of the entrepreneurs of the Cottage, Micro, Small and Medium Enterprises sector.
This was maintained in a survey report carried out by the Business Initiative Leading Development (BUILD) and the Policy Exchange of Bangladesh, which was unveiled recently.
According to the report, of the respondents, 69 per cent reported that they could not pay wages to their staff in 2020 due to the COVID-19 pandemic even as 61 per cent of respondents think the situation has not improved and their revenue would fall in 2021.
The result of the survey — the survey was carried out this February and is based on the interviews of 50 CMSMEs (the CMSMEs represented major industries, including leather and leather goods, trading, textiles, light engineering, packaging, and agriculture) and top officials of private banks — was shared at a recent webinar titled, ‘Covid Stimulus and Links to Employment, Consumption and Investment: The Bangladesh Experience, Global Lessons, and Priorities for Next Round Support’.
