In Bangladesh, people of every stage, even the students, are now trying to do something to earn money ant stand up on own feet. It is very positive for future economy of Bangladesh.
But, is it so easy to do business in Bangladesh? The answer is “No”.
To do business, especially to establish an industry, in Bangladesh is very much difficult for some official problems. The problems are different for different people and business types.
They may be:
- Trade License, fee is too much for starting a business, from 3500 tk. to 10,000 tk.
- Company Registration fee is from 10,000 tk. to 3,50,000 tk.
- Environment license, so much harassment in this department, sometimes need addition cost. Take too much time.
- Fire License, same as environment department. Take too much time.
- BIDA Registration and permission. No comment.
- Bank Loan: It is probably the most difficult step for starting a new business in Bangladesh. There are huge irregularity, bank officers’ unwillingness to work, some bank officers’ business of visiting projects (they visit customers project for money, but do nothing for loan), under table transaction (speed money) in every step and many more difficulties in Banks.
For the above situation, people are searching for foreign loan at easy conditions.
Using this opportunity of eagerness of entrepreneurs, some cheating groups are now active in foreign loan sector. They are offering foreign loan without mortgage, without any document, only on PI (proforma invoice). Being the target of these cheater groups, many people have lost their last deposits.
Even though, we believe that, some genuine party may exist who are working to arise foreign loans for industrial projects in Bangladesh. But we do not know who they are.
If you are also looking for foreign loan, please be careful about cheaters.
Some characteristics of cheater groups in foreign loan sector:
- They will not receive phone calls from unknown numbers
- They will not provide you their customer list
- They will offer you loan in very short time as two days to one week.
- They will require only Proforma Invoice (PI).
- They will not ask you about your land and other business strength.
- They will require a small fee for opening LC.
- They will offer you so many options.
- They will give opportunity to do anything with their loan (no headache about what you will do with their loan).
- They will offer you large amount of money, even what you do not require.
- They will provide you unclear documents.
- They will be angry if you want to know more information about them.