Agriculture contributes 20% to Bangladesh’s GDP but employs 45% of the workforce. Approximately 80% of the working population involved in agriculture are employed in SMEs. However, the overall SME support ecosystem is underdeveloped with a handful of services and misaligned incentives. As a result of this immature system, Ag-SMEs receive little market-relevant business development support, practical opportunities to accelerate growth, and opportunities to link with growth-orientated funding opportunities. Additionally, SMEs are often unaware of the latest Ag-techs, have minimal understanding of forward market dynamics and operate via extractive business strategies.
To take on this challenge, LC Impact signed an agreement with ACDI/VOCA to develop a Business Scale up Program “Unnoty” to provide business development support via accelerator programs and investment readiness training. The initiative will help women Ag-entrepreneurs and Ag-SMEs to become fully investable growth businesses. The program estimates value chain development of 50+ Women lead SMEs over a period of nine months.