The Small & Medium Enterprise Foundation, widely known as SME Foundation, is a limited company licensed by the Ministry of Commerce as a not for profit organization and registered under the Companies Act (Act XXVIII) of 1994. It is running under the guideline as stated in the Memorandum and Articles of Association. SME Foundation is established by the Government of Bangladesh under Ministry of Industries as an apex institution for SME development in the country. The major activities of SME Foundation are implementation of SME Policy Strategies adopted by the Bangladesh Government, policy advocacy and intervention for the growth of SMEs, facilitating financial supports for SMEs, providing skill development and capacity building training, facilitating adaptation with appropriate technologies and access to ICT, providing business support services, etc. It is mentionable here that the Foundation is working for the development of enterprises and entrepreneurs who belong to micro, small and medium categories as per Industrial Policy 2010. Besides the general supports to the development of SMEs and entrepreneurs the Foundation is providing diversified supports to the existing and potential women entrepreneurs in order to position them into the mainstream business community.
Promote Small and Medium Enterprises (SMEs) for alleviating poverty, generating employment and thereby accelerating economic growth.
Assist for promoting the growth of small and medium enterprises of all the productive and service oriented enterprises of the national economy for facing the challenges of free market economy and globalization.
Aligned with the Memorandum of Association the objectives of SMEF could be listed as below:
a) To promote, support, strengthen and encourage the growth and development of SMEs.
b) To plan, program and finance interventions for delivery by private sector organizations.
c) To institute SME Awards in order to promote competitiveness among the SMEs.
d) To facilitate SME access to finance by creating and supporting appropriate strategies and institutions.
e) To rationalize public sector approaches and support structures for SME development.
f) To create a pro-growth and pro-poor business environment.
g) To create appropriate incentives, mechanisms and support structures to facilitate the formation of new enterprises.
h) To identify and report policy anomalies, market and institutional failures that are prejudicial to the legitimate interests of SMEs.
i) To create a database on SMEs and SME sectors.
j) To encourage in building linkage among the national and international institutions working for SME development.
k) To develop capacity of public and private sector SME service providers.
l) To enhance productivity,