Chitwan Association for Industries
The seventh session on ‘Entrepreneurship Talk Series’ was conducted on April 23rd at 4:00 PM in the evening. The speaker for the session was Raju Poudel sir, the President of Chitwan Association of Industries and the MD for Livecare Pharmaceuticals. The topic of discussion was ‘Role of CAI in promoting Entrepreneurship’. We still managed to have around 40 participants despite the tough weather and ensuing power cut.
The session was very informative and insightful for new entrepreneurs and provided a short glimpse of roles of Chitwan Association for Industries. Mr. Raju Poudel gave his thoughts for entrepreneurship stating that it involves designing, launching, establishing new ideas and converting risk into profit. Mr. Poudel shared information that what an aspiring entrepreneur needs to consider during the business venture.
He pointed out some of the major problems that an entrepreneur will face such as the lack of funding, bad decisions by entrepreneurs, sudden economic crisis and lack of market demand. He quoted that entrepreneurship makes us capable of recognizing the commercial potential of new innovation.
Mr. Poudel briefly elaborated some of the roles of Chitwan Association for industries such as help to organize capital, utilize the available talent and other tax related issues. He advised us that entrepreneurship is a continuous process to deal with new situations and business environments. He quoted the famous saying of Warren Buffet, “Don’t keep all your eggs in one basket” and advised us to invest our money in different business ventures. He also mentioned that ups and downs are normal in business and therefore, entrepreneurs shouldn’t be daunted by downfalls.
He emphasized on the importance of personal scanning and doing the SWOT analysis of yourself. Rather than trying to copy the business ideas of others, entrepreneurs should base their entrepreneurial decisions on their own interest. Cheating habits and lying are bad for entrepreneurs because what they do in real life manifests to their professional life. Integrity and self-discipline are prerequisite for entrepreneurship according to Mr. Poudel.
On the role of CAI Mr. Poudel talked about the different industries that were registered with the association and how they oversee them. He mentioned that CAI has become an umbrella organisation for many types of businesses from SMEs to multinational industries, and from agro-industries to service based industries. CAI coordinates with various other governmental and non-governmental institutions including the CDO office, Municipality, and so on.
The Industrial Enterprise Development Institute (IEDI) was involved in providing training to entrepreneurs like accounting, marketing, proposal writing and so on. The CAI is involved in updating their associate industries on new laws and directives, lobbying for policy making decisions, conducting trade fairs and exhibitions as well as providing vocational and technical training. Based upon the policy changes CAI provides training. For instance, the social security programme was introduced last year and now CAI is supporting its member industries to comply with the new legislation.
He also mentioned that CAI works in building industrial infrastructure and cited the example of impending Shaktikhor Industrial Estate where CAI is leading and facilitating the industries. Likewise, it is also working to establish a technical training center to create manpower equipped with technological knowledge to work in industries that will help to fulfill the demand for skilled manpower..
Mr. Poudel also talked about his vision to establish a Rojgar Bank which will function as a bridge between the employees and employers. Members of CAI and entrepreneurs can receive loans of up to six lakhs from Sakos, a microfinance institution that is established by CAI, with the personal guarantee of three individuals. He also mentioned the Disaster Fund that helps industries during crisis and other accidents. The CAI secretariat also guides entrepreneurs to help them register their business and get advisory services from them.
All in all, the event was fruitful with some takeaways for students and entrepreneurs alike.
- By Niraj Aryal & Sumina Pradhan
Niraj is the Program Associate of Skill Lab and a BBA 7th Semester student at Boston International College.
Sumina is the Program Assistant at BIC Startups, and a MBA 3rd Trimester student at Boston International College.