Business fails because people give up too soon: M’laya CM to entrepreneurs

Meghalaya Chief Minister Conrad Sangma, who had himself dealt with and surmounted challenges in entrepreneurship at a young age, on Tuesday urged local entrepreneurs to persevere despite obstacles, while noting that most business ventures fail not because of weak ideas but because people give up too soon.
“If you believe in your idea, keep going. We will stand with you,” the Chief Minister assured the rural entrepreneurs at the RURALPRENEUR ‘25, a two-day event organised by PRIME Rural and the Meghalaya Basin Management Agency here.
The two-day event, which runs until August 20, brings together rural entrepreneurs, policymakers, industry experts, and partner institutions to celebrate entrepreneurial success stories and strengthen the state’s business ecosystem.
Reflecting on the state’s entrepreneurial journey over the past seven years, Sangma recalled how, in 2018, the government began by awarding the Chief Minister’s Entrepreneurship Prize of Rs. 1 lakh each month to recognise and encourage budding entrepreneurs.
“From that modest beginning, we moved toward building a culture of entrepreneurship—a culture of taking calculated risks, finding opportunities in challenges, and moving beyond dependence on government jobs,” he said.
Sharing his own experiences as a young entrepreneur in the late 1990s, Sangma spoke about starting an internet service provider with limited resources at a time when support systems were almost non-existent.
“Even a word of encouragement would have meant so much. Those struggles shaped the policies I design today because I understand how even small support can make the difference between giving up and holding on,” the Chief Minister said.
Highlighting his government’s ongoing commitment, Sangma said the state government has invested more than Rs. 1,700 crores in entrepreneurs through various programmes like PRIME Urban, PRIME Rural, PRIME Collectives, CM Elevate, and various skilling initiatives.
“Self-help groups (SHGs) and skilling programmes are now pathways to micro entrepreneurship. SHGs that once handled Rs. 30 crore now manage over Rs. 1,000 crore. We are setting up food processing units, PRIME hubs, and other infrastructure across the state,” he said.
“Our focus is beyond funding but also about building ecosystems, creating market linkages, and providing mentorship,” the Chief Minister said.
Underscoring the importance of community support in entrepreneurship, Sangma also called on institutions, schools, companies, and even government departments to promote local entrepreneurs by purchasing their products.
“This year, I want to ensure that even the Christmas gift hampers I send to the Prime Minister and other leaders are made entirely from local entrepreneurs’ products, with their stories included,” he affirmed.
Sangma praised the partnership with the SELCO Foundation, which has powered rural health centres with solar energy, improving services and saving lives.
Sangma noted that the Rs. 18 crore support package includes a loan component, a 25 per cent SELCO subsidy, MBMA grants, and contributions from entrepreneurs themselves.
“I place on record my appreciation to SELCO for their transformative work,” he said.