For Ramesh Chandra Pradhan of Khandiabandh, Gopinathpur, Puri district, decorating for social gathering and family function is not new. It is his family business. But the innovative way he managed his decoration business after his training in IED, is exemplary.
On a visit to DIC, Ramesh was informed that an EDP orientation in IED would help him to change his business plan to suit modern needs of decoration. He applied and was enrolled in the training programme at IED. His training over, he sat down with his mentors in IED and prepared a good business plan. He submitted this plan proposal of Rs 10 lakh to the Oriental Bank of Commerce which considered and approved a loan of Rs. 7.5 lakh.
Having money in his account and business idea ready, Ramesh plunged into business. He employs 20 persons with emphasis on gender (10 female) in his business. Because of his new orientation in designing decoration, his business has been growing. He is currently reaping good profit from his business.
Ramesh has shown the way to youngsters how innovative way of doing the same business can not only lead to business expansion but profits too.
After marriage, Sandhya Rani Barisal of Patrapada, Bhubaneswar, realized that in a large family of 10 members, it is not easy to thrive without doing some business. In any case, most adult members of this big family have been doing some individual business. She wanted to get into a business which would not only bring her additional income but would use waste products. In a way, it was her dream to produce wealth from waste.
After consultation with experts and discussing with family members, she applied for a loan from Andhra Bank, with a project cost of Rs 25 lakhs, which was duly approved. She finally set up a fly-ash brick unit with required equipments and some skilled personnel. Her husband and brother extended their supporting hands. She employs 24 persons.
Financial inclusion can help people sitting at the poverty line fence and make them entrepreneur. Narasingh Behera had to discontinue his studies due to his family’s poor financial conditions. In order to supplement family income,he worked as a helper in a roadside snacks shop. But with a good mind and ability to learn, he soon fully understood the composition of ingredients and the process of preparation of different sweets and snacks. He made up his mind to set up a business. He accessed some loans from relatives and friends and started a small unit for manufacturing sweets and snacks.
With his good manners and smiling face, he won over the hearts of his customers. He started making around Rs. 15000 per month, many times more than the wages received when he was working as a helper. After realizing the potential of his business and going through EDP training conducted by IED where he sharpened his business skills, he applied for a project loan from SBI, Sakshigopal, which is now under active consideration.
Sunil Kumar Rout of VSS Nagar, Bhubaneswar, with a degree in telecom engineering, was associated with MNCs like Vodafone, ATC, and American Telecom Tower Corporation in different job roles. But he was not satisfied with his career. He had a desire to become an entrepreneur, doing something on his own and creating employment opportunities for others. He was also supported by his father, wife, other family members and teachers, who encouraged him to take forward his inner desire.
He procured necessary machines and equipments, hired technical and general staff and started production of paper craft products. He did not face any problem for marketing the product, since he had made his own market survey before setting up the unit.
This 30 year old young man of Odia Matha Gali, Baseli Sahi, Puri, with a Bachelor Degree in Commerce, tried for a number of years to get a decent job. But that was not to be. Instead of getting frustrated like many of his genre, he decided to help weak students through online assistance for a small fee.
Madan Mohan is now a successful entrepreneur. He has employed a young lady and two young men with requisite knowledge and experience to provide coaching which he himself designs and prepares.
Jagannath Sahoo, Dumduma, Bhubaneswar had a passion for music and composition. He made up his mind to set up a company of his own using his taste for music. He joined the EDP training course provided by IED, Bhubaneswar to firm up his ideas. The two-week course and interaction with co-trainees and faculty helped him to prepare a project proposal to provide services in music including sound systems and videography.
He takes orders from reputed companies for various programmes. He earns good income from private functions and festival activities.
In modern days, many educated young men do not prefer to continue in their traditional family business. But Rabi Narayan Achary is different from others. He hails from a goldsmith family with business running in his blood line. While his friends in his age group were busy in searching for suitable jobs, Rabi was busy looking for an opportunity to expand his family business. He got an opportunity to undergo training on entrepreneurship development at the Institute of Entrepreneurship Development, Bhubaneswar. There he learnt the basics of business, which was a good foundation for him. He got a good project report prepared with the help of an expert, approached the local branch of a nationalized bank and was happy to know that the Punjab National Bank sanctioned a loan of Rs 22.50 lakh.
With this new source of capital, he expanded his show room, recruited ornament designers, who can design new concepts for young customers. His turnover has trebled in just one year plus. He has been paying regularly his monthly instalments to PNB and providing regular salaries to his artisans. He has taken a risk of competing with the best jeweller groups operating in Odisha. And for this risk taking, he is being amply rewarded in the form of returns. He is considered as a successful entrepreneur.
Not long ago, the state of Odisha was one of the leading producers of jute in India. But with the introduction of man-made fibre, importance of jute declined. However, in recent years, jute’s importance has been revived as a major raw material for strategic interventions, utility products as well as art products. This change of perspective has provided those who have innovative ideas to exploit existing markets and create new markets for various jute products.
Although the investment is small, she is earning good income per month varying between Rs 10,000/- to Rs. 15,000/-. This is, after paying salary to five lady artisans, who have been producing quality jute products. Her products are well recognized and procured by businessmen from her door steps.
Nirmal Chandra Mallick of Niladri Vihar, Bhubaneswar, like most educated, joined LIC after his post-graduate studies. But he felt that he did not quite fit into the job.. He was trying for a better alternative. He read an advertisement about the training programme conducted by IED, Bhubaneswar. He applied and was selected for the EDP course. After successful completion of training, he applied for a loan from Punjab National Bank to establish a cyber café. His proposal was approved and he was sanctioned Rs. 9.5 lakh.
He added subsequently, a few additional facilities to expand his business and to cater to the needs of his expanding clientele. He is also publishing a fort-nightly magazine, Jana Samasya, having local circulation.
He procured necessary machines and equipments, hired technical and general staff and started production of paper craft products. He did not face any problem for marketing the product, since he had made his own market survey before setting up the unit.
