Saifullah Gazi was none but one of those unemployed youths who did not have any capital to start a small business. He left no stone unturned to manage a job. He went to India in quest of a job but could not find the holy-grail. However, he came back from India learning how to breed ornamental fish in hatchery. In India, he visited some hatcheries and explored ornamental fish cultivation there. But coming back, he again started searching for jobs. One day he explored a store of ornamental fish at Mirpur in Dhaka. He noticed that the store opens only for a single day in a week. However, meeting the storekeeper, Saifullah asked him why the store remains closed most of the time. Storekeeper replied that he does not need to open the store every day as ornamental fishes come from abroad. Saifullah said he knows how to breed ornamental fish and asked the shopkeeper to give him an opportunity to breed fries of ornamental fish. Thus Saifullah started ornamental fish business and now he has become a millionaire with the grace of ornamental fish breeding.
The success story of Saifullah demonstrates how good business ideas blended with knowledge, focus and fervour can help the country down the tempo of its growing unemployment rate. The rhythm of unemployment has been on rush over the years and the country’s job sector is struggling to absorb its huge unemployed population.
The dream of getting a job has become synonymous with nightmare, leave unemployed persons with nothing but depression. There is no denying that the country has achieved remarkable economic growth over the last years but unemployment still seems a perpetual dilemma, hindering holistic development. Still employment opportunities are not available comparing to the number of labour force entering the job market every year. Another reason for the growing unemployment rate is the inconsistency between job market and country’s education system. Addressing unemployment as a major problem hindering the country’s holistic development, departments concerned including employers and business communities should come forward to instil a culture of entrepreneurship among unemployed people. Experts claim that it would not be an easy task to generate adequate employment opportunities in consistent with the number of workforce entering the job market. Hence, it is high time to encourage the unemployed to take entrepreneurship as profession which will not only reduce the country’s swelling unemployment rate but also help them lead a dignified life.
World Economic Forum (WEF) reported that unemployment is the main obstacle to the stride of Bangladesh’s economic growth. Reports show that currently the number of youths, who are not involved in employment, education and training, is 74 lakh. Such a huge number of workless youths, who could play a pivotal role in reinforcing the country’s economy, do not provide anything and thus their potential is getting wasted. Instead of being the wealth, they are turning into a burden on the country. Economist Intelligence Unit (EIU) reported that at present 47 percent of the total graduates are unemployed in Bangladesh. According to BBS labour force survey, in fiscal 2016-17, the country offered a total of 13 lakh new employments against 14 lakh applicants. Thus in one year, 1 lakh jobseekers were left unemployed.
In such a situation, it is important to encourage youths to become entrepreneurs by offering easy loans. We need to implant a culture of entrepreneurship into our students. Though entrepreneurship does not constitute such a social security as employment in large companies, still it can reduce the country’s growing unemployment and contribute to economic growth. It is therefore necessary to adopt measures which will help people become self-employed to achieve a dignified life. In this regard, an apt family orientation has become very much pertinent to plant a culture of entrepreneurship among youths. Family orientation can help youths choose thoughtful and dynamic career. We expect that by creating entrepreneurs we can reduce the pressure on the country’s job market and reinforce the country’s economic growth.
Entrepreneurship is indispensable for a country’s economic development and in order to encourage entrepreneurship, we must disseminate education on it. Though such education has already been integrated in developing countries to create awareness and motivate fresh graduates to take up business as profession, such subjects or majors have not been widely covered in the various levels of education system in our country. Hence, the departments concerned should look into this issue with due seriousness. Also in order to encourage more youths to take business as their profession, there is a need to create a supportive atmosphere for the freshers and promising young entrepreneurs and facilitate them with appropriating tools. In order to exploit the huge young population of Bangladesh, it is
necessary to skill them in technical education, encourage them to
become entrepreneurs by ensuring bank loans.
S H B Shuvro is a member of the Editorial Team of Bangladesh Post