Small and Medium Enterprise Foundation
ক্ষুদ্র ও মাঝারি শিল্প ফাউন্ডেশন | |
| Abbreviation | SMEF |
|---|---|
| Formation | 2007 |
| Type | Government |
| Legal status | Autonomous organization |
| Purpose | Promotion and development of Micro, Small and Medium Enterprises (MSMEs) |
| Headquarters | E-5/C-1, Agargaon Administrative Area, Dhaka-1207 |
| Location |
|
Region served | Bangladesh |
Official language | Bengali and English |
Parent organization | Ministry of Industries |
| Website | smef |
Small and Medium Enterprise Foundation (SMEF) (Bengali: ক্ষুদ্র ও মাঝারি শিল্প ফাউন্ডেশন (এসএমইএফ)) is a state-owned autonomous organization of the Government of Bangladesh that supports the development of micro, small, and medium enterprises (MSMEs). The foundation provides training, policy advocacy, and financial assistance to entrepreneurs across Bangladesh.[1][2]
The foundation operates under the administrative control of the Ministry of Industries.[3] It collaborates with government agencies, financial institutions, international development partners, and industry stakeholders.
Md. Mushfiqur Rahman is the chairman of the SME Foundation.[4]
History
The Small and Medium Enterprise Foundation was established in 2007 with an initial fund of Tk 2 billion provided by the Government of Bangladesh. It was incorporated under the Companies Act as a non-profit company limited by guarantee.[5] The foundation was created to strengthen the MSME sector, which is a major contributor to employment and economic growth in Bangladesh.
Activities
Training and Capacity Building
SMEF organizes training and skill development programs for entrepreneurs, including seminars and workshops in partnership with financial institutions and commerce organizations. For example, Standard Chartered Bank, the Chittagong Women Chamber of Commerce & Industry, and SME Foundation jointly hosted a financial literacy program for women entrepreneurs.[6]
SMEF also collaborates with international organizations, such as signing a Memorandum of Understanding with the United Nations Development Programme (UNDP) to boost entrepreneurship and promote green business practices across Bangladesh.[7]
Financial Support Programs
The foundation provides low-cost funds to small and medium entrepreneurs through various financing schemes. In 2024, SMEF extended loans at competitive interest rates to support businesses affected by economic challenges and to foster growth in priority sectors such as manufacturing, services, and technology industries.[8]
Events and Outreach
During the 2023-24 fiscal year, SME Foundation implemented more than 690 programs, including national SME awards, product fairs, buyer-seller meetings, and digital support initiatives for women entrepreneurs.[4]
Governance
SMEF is governed by a Board of Directors consisting of representatives from relevant ministries, financial institutions, and SME trade associations. Board members are often drawn from partner organizations and industry bodies.[9]
References
- ^ "Government support for SMEs". The Daily Star. 24 April 2008. Retrieved 7 April 2020.
- ^ "Role of micro, small and medium enterprises in economic dev". Daily Sun. Retrieved 7 April 2020.
- ^ "এসএমই ফাউন্ডেশনের পরিচিতি" (in Bengali). Retrieved February 19, 2026.
- ^ a b "Over 34,500 entrepreneurs receive services from SME Foundation in FY24". The Financial Express. 11 May 2025. Retrieved February 19, 2026.
- ^ "SME Foundation limps with fund crunch". Dhaka Tribune. 17 September 2019. Retrieved February 19, 2026.
- ^ "StanChart, CWCCI, SMEF train women traders on financial literacy". Bangladesh Post. 26 June 2023. Retrieved February 19, 2026.
- ^ "UNDP, SME Foundation sign MoU to boost entrepreneurship in Bangladesh". The Business Standard. 19 July 2023. Retrieved February 19, 2026.
- ^ "SME Foundation extends low-cost funds to small and medium entrepreneurs". The Business Standard. 27 January 2026. Retrieved February 19, 2026.
- ^ "এসএমই ফাউন্ডেশনের পরিচিতি" (in Bengali). Retrieved February 19, 2026.