The government wants to create at least two home-grown enterprises to reach an international market valuation of more than USD 50 M or roughly Nu 4.2bn by 2030. However, it has yet to identify businesses or sectors that could reach that scale. The National Entrepreneurship Strategy 2026 plans to identify sectors with growth potential and support businesses in those areas to expand into international markets.
More than 30,000 industries are registered in Bhutan, including large-scale industries. The National Entrepreneurship Strategy 2026 now aims to help at least two enterprises reach a valuation of more than USD 50 M by 2030.
The Department of Employment and Entrepreneurship says it will identify businesses with strong potential to scale and generate revenue, and support them to grow.
The Department sees technology as one area with potential for high-growth businesses.
“Our approach would be to support, reinforce and enhance the existing support mechanisms for businesses that demonstrate scalability in their business models, with clear potential for revenue growth and traction in the market,” said Tashi Tenzin, Assistant Programme Officer of the Department of Employment and Entrepreneurship.
However, finance remains a major challenge for businesses trying to expand.
The Business Regulatory Review identified access to affordable and timely finance as a constraint, while the Bhutan Chamber of Commerce and Industry has pointed to collateral requirements as a bottleneck in accessing credit.
The Department says the strategy aims to address these financing challenges.
The Assistant Programme Officer said, “In particular the challenge is entrepreneurs not being able to unlock access to affordable finance. On this, the government is actively working to create funds and we are also working with banks to make the loans affordable and looking into avenues to make it accessible to the entrepreneurs.”
He says Jabchor 2.0, an equity financing platform, is designed to help entrepreneurs raise investment, while a Growth Accelerator with the Loden Foundation will help growth-stage businesses unlock financing.
The department also plans to continue skills development and mentorship and help businesses reach international customers through e-commerce.
According to the official, helping businesses scale is also linked to creating jobs, addressing youth unemployment and increasing the private sector’s contribution to the economy.
The government has set the 2030 target. The next step is to identify businesses with the potential to reach it and give them the capital, skills, and market access needed to grow.
Sangay Chozom
Edited by Sangay Chezom
