Bangladesh Bank has reset the definitions of small and medium enterprises as per the National Industrial Policy Order 2010.
The redefinition was done for the benefit of banks and financial institutions, a Bangladesh Bank circular on Monday said.
In manufacturing, medium industry/enterprise would be those with assets worth Tk 100 to 300 million (minus land and factory building, and including replacement value) and/or 100 to 250 workers.
In service industry and in business, medium enterprises will be those which employ 50 to 100 and have assets (defined as above) worth Tk 10 to 150 million.
The circular said if a business fits into any of the criterion for a large industry, it will be considered a large industry though its other characteristics may be that of a medium one.
In manufacturing, small industry/enterprise would be those with assets worth Tk 5 to 100 million (defined as above) and/or 25 to 99 workers.
In service industry and in business, small enterprises will be those which employ 10 to 25 and have assets (defined as above) worth Tk 5,00,000 to 10 million.
In manufacturing, micro industry/enterprise would be those with assets worth Tk 5,00,000 to 5 million (defined as above) and/or 10 to 24 workers or less.
In service industry and in business, micro enterprises will be those which employ 10 or less people and have assets (defined as above) worth Tk 5,00,000 or less.
In manufacturing, cottage industry/enterprise would be those with assets worth Tk 5,00,000 to 5 million (defined as above) and/or 10 to 24 workers or less.
In service industry and in business, cottage enterprises will be those which employ 10 or less people and have assets (defined as above) worth Tk 5,00,000 or less.
If a woman is the proprietor of a proprietary business or the owner of at least 51 per cent of a partnership or a private company registered under joint stock companies, then she would be considered a woman entrepreneur.
The circular said cottage and micro industries would from now on be included in Bangladesh Banks SME loan policies and programmes.