As a home maker Reetanjali Patra of GGP Colony, Bhubaneswar was happy. A small news about IED training completely changed her perspective. She decided to learn some techniques of business and enrolled herself as a trainee in IED during 2016-17. Here she discussed with faculty members possibilities of getting into business and the alternatives that she would face in the competitive tiny and small sector. By the time she finished her course, she decided that she would be in the furniture industry in a slightly different way.
She visited the modern furniture stores and noted down the style and utility of each piece of furniture and their respective prices. She prepared a project proposal in consultation with her faculties. She visited DIC, potential bankers, and made a small projection about the market demand. Her plan was to manufacture utility quality furniture with at least 20% less than the comparative market price. Her plan was approved by the Indian Overseas Bank for a loan amount of Rs. 20 lakh, her own contribution in equity being Rs 5 lakh. Her husband who was a carpenter became a good partner to study market designs, procure quality raw materials and supervise manufacturing including finishing of products.
Acknowledging that being an entrepreneur she faces huge risk, she is determined to carry on business and show her excellence. Her custom-made products have good demand and with lower margin and high turnover, she has started getting handsome profit while employing 20 skilled and unskilled workers and paying back her loan instalments. Although in the initial year of her business, she has made a plan for sustainable development of her enterprise. She gives due credit to IED for expanding her horizon of a home-maker to an empowered business entrepreneur.
