North Eastern Development Finance Corporation Ltd (NEDFi) in collaboration with Entrepreneurs Associates, Nagaland jointly organized a ‘Business Meet’ at hotel Lake Shilloi, here Wednesday.
Speaking on the theme ‘Entrepreneurs Awakening on Projects Viability’, Business Association of Nagas (BAN) chairman, Thungbemo Murry said Nagaland had been a total subsidised and a welfare state where funding for any industrial project or a business undertaking initiated by any Naga had to be pursued under certain special schemes or policies wherein the applicants should refer to themselves as under, “reserved, backward, and scheduled tribes etc.” which were limitations in itself.
He said, as state level policies and funding regulations were badly affected which discouraged lots and lots of Nagas in so many ways. He said these centrally sponsored schemes destroyed many businessmen and women and families, even churches and societies.
Citing a common business strategy practised in Nagaland where an individual starts a venture just to get subsidies and loans, Murry said all these practices which had been common in the state but were not sustainable in nature and does not contribute to the state’s economy in any way.
He also noted that many business establishments fail to survive all because of their own folly in misreading and unable to judge and discern our state’s economic instability plus their kind of undisciplined lifestyle and carelessness.
But in spite of various shortcoming that exists, a new breed of young and innovative youths trying to set up new business ventures with creative ideas, Murry says, and that there was a need for elders and experienced business men and women to guide them and keep them informed of the conditions and situations of the state’s economy.
On that note, he said, BAN was prioritizing to initiate such awareness programmes with would help in moulding and guiding the younger upcoming business persons.
Entrepreneurs Associates Thrift & Credit Cooperatives Federation Ltd (EATACOL) chairman Tiatemsu Longchar, while sharing words of encouragement said, EATACOL in partnership with NEDFi was trying to conduct business meet all over the state in order to make the youths more financially independent by means of venturing into business.
He said entrepreneur was a new trend that has been picking up quickly and therefore EATACOL and NEDFi’s partnership was to ensure maximum help to the local entrepreneurs and youths.
Complimenting the womenfolk for their success and consistency, Longchar said, there was no gender bias, 33% reservation or any quota system in the entrepreneurial world but those who were sincere and consistent were flourishing in the system.
He added that Nagaland was looking for a vision since off late it has become a state with no leader, be it in politics, government or social platforms, who could speak beyond their our needs and wants.
He also underscored that with the implementation of the Goods and Services Tax (GST), even the fresh entrepreneurs and business persons were given a level of play field at par with those into business for decades.
Earlier Chartered Accountant (CA), Lipokmeren, shared on project making and financial importance.
Local entrepreneurs Temsusenla representing Fusion and Imtisunep shared on their experiences.
NEDFi, branch manager-Vimeyiel Richa gave the welcome address, Charisma School, Dimapur proprietor-SN Lotha pronounced the invocation while NEDFi assistant manager-Detono Tepa gave the vote of thanks.