SMEs advised to increase use of technologies to face 4IR

Experts at a webinar on Thursday laid emphasis on the use of technologies by the country’s small and medium enterprises to cope with the challenges of the fourth industrial revolution to remain competitive in markets at home and abroad.

Skilled and knowledge-based workforce in the SME sector would play a vital role to utilise the optimum production capacity, they said.

The intellectuality-run fourth industrial revolution would open up the business boundary across the world and it would create more scope for employment, they said.

The discussants made the remarks at the webinar titled ‘Opportunities & Challenges of 4IR: SME Context’ organised by the SME Foundation.

The foundation chairperson Professor Dr Md Masudur Rahman spoke as the chief guest, which was moderated and chaired by the foundation Managing Director Dr Md Mafizur Rahman while its General Manager Farzana Khan delivered the welcome speech.

Masudur Rahman said that the sector entrepreneurs should emphasise recruiting a knowledge-based workforce to utilise their ability and the production capacity.

There is no alternative to increasing the use of technology in the SME sector to create new markets, said Masudur. He also laid stress on adapting to the global competitive markets.

“If we can ensure employing skilled workforce then we will attain different global facilities through any technological channel that might create more recruitment scope by eliminating the fear of unemployment after the introduction of the new technology,” he added.

Different educational institutions, including universities, non-government institutes and training centres can play a significant role to create skilled manpower by maintaining comprehensive coordination among them, he said.

The government and individuals also should increase investment in a knowledge-based workforce, he commented.

Mafizur Rahman said, “We should ensure skilled workforce to utilize the advantages of the fourth industrial revolution.”

The SME Foundation will take the necessary step for an awareness campaign among the entrepreneurs and workers over the fourth industrial revolution and knowledge-based workforce, said the foundation Managing Director.

Dr Shamim Ahmed Dewan, Chairman of the Department of Robotics and Mechatronics Engineering at Dhaka University, said that the entrepreneurs should ensure recruitment of workforce having technical knowledge to sustain in the global market.

AKM Sajedur Rahman Khan, Deputy Governor of Bangladesh Bank, said that the SMEs would get priority-based loans and special stimulus package facilities to overcome the Covid-19 fallout.

Md Tanvir Faisal, Deputy Manager of SME Foundation, said that the application of new technology enables achieving new business opportunities for any business entity.