Al Hajj Shamsul Haque is a seasoned jute trader from Kanaipur Bazaar, Faridpur. In his region, he is a pioneer of raw jute trading in the local jute mills and has been in this industry for a long time. Although the business picked up in the 90s, it started stagnating in the early 21st century. He was looking for new ways to improve and even involved his son to the business so that they can expand it together.
Group: Jute Trader Group 1
Original Product: Raw Jute
Area of Diversification: Mini Jute Mill, JDP
Amount of Investment: 1.5 Crore BDT
Source of Finance: Bank, Self
After joining Unnoty,an accelerator program of LC Impact, Mr. Haque came to know about product diversification and how it can help generate more revenue by diversifying portfolio.
Equipped with the knowledge, he met a bank with a plan to get financing for new business. He has successfully accumulated an amount of 1.5 crore taka and established a mini jute spinning mill. He has also involved his son to his business