Problems and prospects of sole proprietory business in Bangladesh?

Answer 1

Sole proprietorships in Bangladesh face challenges such as limited access to finance, lack of business training, and regulatory hurdles, which can hinder growth and sustainability. Additionally, the informal nature of many sole proprietorships makes them vulnerable to economic fluctuations and competition from larger firms. However, the prospects for these businesses are promising, as the increasing digitization and government initiatives aimed at promoting entrepreneurship can provide new opportunities for growth and innovation. Furthermore, the low startup costs and flexibility of sole proprietorships make them an attractive option for many aspiring entrepreneurs.