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Challenges and Prospects of SME Sector

Challenges and Prospects of SME Sector q5a6G
Although SME is considered to be the engine of economic growth, Bangladesh lags far behind compared to neighboring countries, including India and china, when it comes to contribution to the Gross National product (GDP). SME constitutes 90 per cent of total enterprises in Bangladesh, as opposed to approximately 97 per cent in India, around 99 per cent in japan, and 60 per cent in Pakistan. Moreover, local SME contribute 25 percent to the GDP, which presents low figure in comparison to other emerging countries. It is worthwhile to mention that SME policy 2019 aims to increase the sector’s contribution to the GDP to 32 percent by 2023. Apart from this, it is predicted that ICT sector in Bangladesh would generate 30 lakhs employments by 2025. Despite having myriad opportunities to flourish this sector substantially, there remain a few challenges. The scarcity of skilled labor, fiscal incentives, access to finance are the key factors behind poor contribution to the economy. Amid the ongoing economic shocks stemming from Covid-19 pandemic, the scenario has become more aggravated due to the liquidity crisis, shifting to ecommerce practices. Moreover digitalization and automation of the industry has emerged as new challenges to SME sectors. The regulatory bodies concerned must sit with expert and address the issues of this sector so that this sector are able to more contribute to our economy and generate employments for the youths and women. The government should shrink the tax on SME sectors to give a boost to this sectors.
Although SME
is considered
to be the engine of economic growth, Bangladesh lags far behind compared to neighboring countries, including India and china, when it
This phrase/word (depending on the context) can be potentially replaced with :
comes
to contribution to the Gross National product (GDP).

SME constitutes 90 per cent of total enterprises in Bangladesh, as opposed to approximately 97 per cent in India, around 99 per cent in japan, and 60 per cent in Pakistan.
Moreover
, local SME contribute 25 percent to the GDP, which presents low figure
in comparison
to other emerging countries.

It is worthwhile to mention that SME policy 2019 aims to increase the
You use this word too often, consider replacing it with
sector’s
contribution to the GDP to 32 percent by 2023. Apart from this, it
is predicted
that ICT
You use this word too often, consider replacing it with
sector
in Bangladesh would generate 30 lakhs employments by 2025.

Despite having myriad opportunities to flourish this
You use this word too often, consider replacing it with
sector
substantially
, there remain a few challenges. The scarcity of skilled labor, fiscal incentives, access to finance are the key factors behind poor contribution to the economy. Amid the ongoing economic shocks stemming from Covid-19 pandemic, the scenario has become more aggravated due to the liquidity crisis, shifting to
Possible spelling mistake found.
ecommerce
practices.
Did you forget a comma after a conjunctive/linking adverb?
Moreover
digitalization and automation of the industry has emerged as new challenges to SME sectors.

The regulatory bodies concerned
This phrase/word (depending on the context) can be potentially replaced with :
must
sit with expert and address the issues of this
You use this word too often, consider replacing it with
sector
This phrase/word is too simple and can be replaced with:
so
that this
You use this word too often, consider replacing it with
sector
are able to more contribute to our economy and generate employments for the youths and women. The
This phrase/word (depending on the context) can be potentially replaced with :
government
should shrink the tax on SME
You use this word too often, consider replacing it with
sectors
to give a boost to
Did you mean "these"?
this
You use this word too often, consider replacing it with
sectors
.
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IELTS essay Challenges and Prospects of SME Sector

Essay
  American English
5 paragraphs
249 words
This writing has been penalized,
text can't be
less than 250 words in Task 2
and less than 150 words in Task 1
5.0
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
  • ?
    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 6.0
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 5.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
Labels Descriptions
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