Why youths must escape the stability trap

Bangladesh's young people are playing it safe. Stability has become a cultural compass for young people. Most of them dream and waste prime years of youth for government jobs, bank positions, or similar steady paychecks. A huge number of youths look beyond the borders, aiming for opportunities abroad. These choices offer security but they often limit the potential for the self and the country. True progress for society comes from taking risks, learning fast, and creating value. This is why entrepreneurship should be made the priority for Bangladeshi youths.

A stable job is reassuring in a nation where economic instability is a major concern. The prestige of passing the BCS exam or landing a stable bank job holds immense cultural weight. But this mindset comes with a cost. It prioritises personal safety over societal growth. Stability doesn't demand creativity. It doesn't ask for problem-solving or push individuals to grow. Entrepreneurship does. However, building a business pushes people to develop new skills. These efforts not only improve the entrepreneur but also grow the economy.

Bangladesh doesn't need to look far for examples of entrepreneurship's impact. Pathao, starting as a ride-sharing service, has become a household name, expanding into food delivery and logistics. bKash has completely transformed financial transactions by bringing millions of unbanked individuals into the formal economy. iFarmer is empowering farmers by connecting them to financing and markets as well as has cracked the model for crowdfunding in agro. In e-commerce, Chaldal has enabled online grocery shopping with its innovative and robust supply chain model. ShopUp, a B2B platform, empowers small businesses with logistics, digital credit, and access to online marketplaces. Shuttle provides affordable, safe, and structured commuting solutions, especially for women. Meanwhile, Zantrik is revolutionising vehicle maintenance by digitising repair services, and improving access and convenience for car owners. 10 Minute School has remodelled online education by offering accessible learning to millions of students across the country. Rokomari.com, one of the first e-commerce platforms in the country, has reshaped e-commerce for books and essentials, extending its reach to underserved areas and making knowledge more accessible.

IT firms like Ollyo, Startise, and Apex DMIT are creating software products and providing services that serve clients globally. These companies are proof that with determination and innovation, Bangladeshi entrepreneurs can build businesses that solve real problems and compete globally.

However, most Bangladeshi youths see stability as the only path to success. This thinking isn't unique to Bangladesh. In the 1980s, Taiwan faced a similar problem. The government had to push its citizens to take risks, offering incentives for startups in the semiconductor and electronics sectors. That gamble worked. Taiwan is now a global leader in chip manufacturing.

Bangladesh has a similar opportunity. The ready-made garments (RMG) sector is already a global force, but its focus on low-cost production limits its potential. Innovating within this space--developing high-value garments or sustainable production methods--can create more profit and global recognition. Other sectors, like renewable energy, healthcare technology, and software development, also offer untapped opportunities. Then again, many young people are afraid of failure. They think success is only possible if they exploit the system. But this isn't true. Countries like Estonia show how ethical entrepreneurship can thrive. After gaining independence in 1991, Estonia embraced digital innovation. The government simplified business processes, reduced corruption, and invested in education. This created a culture where startups like Skype and Bolt could flourish.

Bangladesh can follow a similar path. Making it easier to start and run a business, reducing bureaucratic barriers, and ensuring fair competition can encourage more people to take risks. Ethical entrepreneurs need to be celebrated, showing young people that success doesn't require compromising integrity. The country has the talent to build industries that go beyond garments and exporting basic human labour. Semiconductors, IT services, and even renewable energy manufacturing could be the next big opportunities. But this requires investment in education, infrastructure, and policies that attract foreign partners. We also need support from our NRB diaspora. We already have a young, hardworking population. With the right steps, it could attract foreign investors to fund new industries or even bring more innovation to the existing ones. Reforming our weak institutions to promote accountability and transparency is critical here. Countries like Rwanda have shown how this can work. After years of instability, Rwanda simplified its tax code, reduced corruption, and promoted investment. Today, it's one of Africa's fastest-growing economies.

The media and people in positions need to change how they portray success. Stories of entrepreneurs like startup founders and ethical businesspeople should be celebrated. Schools should teach young people about creating value. Young entrepreneurs also need guidance. Mentors who have built successful businesses can offer advice and open doors. Programmes that connect entrepreneurs with experienced professionals can help them avoid common mistakes. Bangladesh needs to make it easier for foreign investors to invest here. Simplifying processes, ensuring the rule of law, and allowing profits to be repatriated can build trust and attract more capital.

Entrepreneurship isn't just about starting companies; it's about building things such as products, systems, and industries that solve problems and create value. This is what lifts societies. It's how wealth is created and shared. Bangladesh has the talent, ambition, and drive to become a nation of builders. But to do this, its youths must escape the stability trap. They need to see risk and failure not as a danger, but as an opportunity to learn and grow. They need to believe that they can succeed honestly, through hard work and innovation. And they need the support of mentors, investors, and a government that values entrepreneurship. The world is changing fast. Countries that embrace entrepreneurship will thrive. Hence, Bangladesh has a choice to make. Let's hope its youths choose to build the nation.

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