Attraction Of Small And Middle Level Enterprize Due To Ongoing Innovations
About Attraction Of Small And Middle Level Enterprize Due To Ongoing Innovations
Each new venture and business enterprise has a story behind it. The spark or seed of an idea originates from our society. With time, it witnessed that start-ups have changed over the last 5-7 years. But it can be assured that startups are heading in a good direction. Our government has also realized the importance of entrepreneurships or new venture creation and has significantly announced start-up fund of NRs. 500 Million. Entrepreneurs see an opportunity even through pain and discomfort in the society. These opportunities which are at first in seed later turn out to be a major life changing event. Many investors at first wouldn’t like to invest a huge amount due to probability of fewer returns. However, there is much smaller business which gives huge return even after small investment. The major factor is persistence and growth. Strategic advantage of Small scale business is by pushing the product and brand name from which not only product gets circulated and create an image but also you have more and more people at new stations every time.
By making your product accessible to the customers you are gaining your reputation. But the key to this strategy lies in the hands of customer satisfaction. Those businessmen who are inclined and interested can make their grand entry by knowing the culture of small and middle scale enterprises in Nepal. It is highly recommended that you have a strong base or foundations then only you can thrift in the market. Reportedly, the number of successful startups is estimated more than 50. From the growth of local talents, low risk investment and low operations cost, Nepalese entrepreneurs are able to compete in the global market. Innovative companies which are expanding due to revolution of information technology are doing business beyond borders of Nepal and competing globally. Even incubators are seen thriving in the international markets as their vision is crossing the borders. If we look further, we cannot guarantee that small and medium scale ventures are risk free. They also carry high risk while operating in the market like product and brand failure.
Every product launched in the market has their own life cycle. What are fads today can be replaced tomorrow by a launch of more innovative and sharp idea or a product. So here also success cannot be guaranteed in a long term. Startups also face challenges in financing as they don’t get loans without collaterals from bank. Other challenge is finding the right person for the right position in the job. Factors like load shedding, multi layered government process and unclear laws are making startups ambiguous. Entrepreneurship is the back bone of economic growth and development. It creates something in value by devoting necessary time and effort assuming accompanying risk and receiving the resulting rewards. Considering that we have lower level of employment opportunity, capabilities and competencies, unsupportive business environment many youth migrate abroad. Remittance inflow has also loopholes particularly through extra marital affairs, high divorce rate and other social disorders. Entrepreneurial skills keep the active manpower in the Country. It is the efforts of an individual, the entrepreneur who goes against the odds in translating a vision to successful business enterprise. Entrepreneur education and training is one of the major action areas. Government must tackle the stigma to create supportive environment to entrepreneurial activity.
Some works which are done regarding Small business investment opportunities:
- Car wash business
- Groceries store
- Dry cleaning business
- Consignment shops
- Electric repair shops
- Tourist guide
- Farming business and poultry
- Business Centers
Seed idea. “Open a public transportation service that only travels in the evenings and is reliable and on time”. (If you are thinking that there is lack of security, maybe the vehicle will have its own security guard)