Self-employment: Prospects and Challenges

Abstract

The unemployment problem in Bangladesh is getting more complicated. Around one-sixth of the total population is unemployed, and 1.8 million youths enter into the job market every year. In this backdrop, Bangladesh will have to create 2.1 million jobs every year which is a daunting task for the Government. under these circumstances, self-employment is considered to be the quickest and easiest way to create employment. This article explores the role of self- employment in economic development. It compares the data on the socio-economic background of the non-farm self-employed in various places of Dhaka city. It also gives an insight into the challenges of self-employment, and training and the support required by the self- employed. The findings are important for policy implications to overcome the challenges "by providing possible support to the serf-employed so that more people are encouraged to create their own jobs rather than waiting for someone else to give them a wage employment.