Insight to Furniture Industry in Mirpur Essay
Contents Introduction 3 Industry Overview 3 Furniture Industry in Mirpur 3 A Brief Introduction to SMEs 4 The Entrepreneurs 5 Current Scenario 6 Factors affecting Industry 6 Factors affecting company 6 Perception of Entrepreneurs 7 …show more content…
Furniture Industry in Mirpur
This cluster began its operation in 1991 and currently contains about 150 furniture manufacturers in the Mirpur area of Dhaka. Among these companies, there are 4 large furniture companies while the rest falling into the SME category as defined by the Ministry of Industries. All of these companies produce their own furniture either in their own shop or in a factory in another city. The furniture is then placed for sale in the same shop with the company effectively acting as both manufacturers and retailers. Most of these medium and small companies are sole proprietorships with a few being partnership.
A Brief Introduction to SMEs
Small and medium enterprises (SMEs) or small and medium-sized businesses (SMBs) are companies whose personnel numbers fall below certain limits. Small enterprises outnumber large companies by a wide margin and also employ many more people. SMEs are also said to be responsible for driving innovation and competition in many economic sectors. SMEs are recognized