Global Entrepreneurship ranking

To start a new week, we look at how Bangladesh has been doing in the context of international entrepreneurship standards.

Bangladesh ranks 125th out of 132 countries in GEI 2016
Granted Bangladesh is slowly emerging as a middle income economy, where export diversification is less than dynamic, the Middle and Affluent Class is rising and RMG and leather are the main noteworthy export items driving our economy. Entrepreneurship is booming on the e-commerce front, which is a young sector by all means. Social business is attempting a breakthrough with important groundwork being held in its early stages/ Other than this, business processes are slowly being transformed with the help of online payment and mobile banking options, while registration and utility connections are still lagging far behind. Rental difficulties are related to finance, while financial flexibility is one of the struggling issues businesses face in any economy, including Bangladesh. Taking all this into consideration, let us focus on an international entrepreneurship index and witness how Bangladesh performed recently.
The Global Entrepreneurship Index (GEI), measuring what the name suggests has been published for 2016 by the US-based Global Entrepreneurship Development Institute. Bangladesh, came in 125th out of the 132 countries that have been measured, ranking at the bottom of the Asia-Pacific countries, along with the global context. Our scores were 15.2 out of 100 in the GEI and the sub-indices were 14.6 in entrepreneurial attitudes, 21 in entrepreneurial abilities and 10 in entrepreneurial aspirations.

The region is highly diverse in terms of performance, including in it some of the best (Australia, Taiwan) and the worst (Myanmar, Pakistan, Bangladesh). Weakest aspects are Attitude towards entrepreneurship, while Abilities and Aspirations are roughly similar. However, for this factor-driven low performers,

entrepreneurial performance is surprisingly steady. With a considerable young population, countries lik Cambodia, Myanmar, Laos and Bangladesh possess huge potential, with the right institutional groundwork and human capital development.