Problems and Prospects of Small Business Development in Bangladesh
Section One: Definition & Characteristics of Small Business

Our essay is divided into five sections. Section one will discuss about the definition, nature and scope of Small Business. In section two we will get the opinion of some entrepreneurs according to our questionnaire. Section three will deal about some common problems that our Small Business firms face, according to the answers of previous section, which will be followed by some suggestions from our group in section four. And our discussion will come to an end with some concluding remarks in the last section.
Section One: Small Business
DEFINATION:
* According to Small Business act 1934,” A business which is independently owned and operated and not dominant in its field” is a Small Business. * Bolton Report on the commission of the inquiry on Small Business firms, 1977,”Small firm is one that has a relatively small share profits market.” * Stoner, Freeman, & Gilbert, 1995, “Small Business refers to business locally owned and managed, often with very few employees working at a single location”. * US Government, “A Small Business is one with fewer than 500 employees.”
According to executive committee for national economic development,”A Small Business one of which process at least two of the following characteristics: * -Managers are the owners, * -Capital supplier and the owner is individual or a small group, * -Worker and the owners are local, market may not be so. * -Relatively smaller compared with the biggest unit of the industry [Sales, employees etc.]
From all of the above definitions we can make a general definition of Small Business. A business not dominating in its field, does not engage in any new marketing, workers are local, working at a single location, produced units are relatively