While scanning through the May issue of New Business Age and reading about various businesses and their respective entrepreneurs, I suddenly started pondering over entrepreneur skills and leadership qualities. I don’t think the people who follow the trend always turn successful entrepreneurs. In today’s world of intense competition, one is unlikely to succeed by blindly following other’s successes. Such people simply keep on hopping from one business venture to the other in the hope of attaining success. It is more important to understand own limitations and have a long-term vision before plunging into entrepreneurship.
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To survive in a particular line of business for long, one must do things differently. One must believe in what s/he is doing and be dedicated towards the business of choice. Innovation is the mantra for success for any budding entrepreneur. Be it the service industry or manufacturing, innovation is perhaps one of the most important qualities to have for any business venture to succeed.
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I believe a lot of aspiring entrepreneurs in Nepal too can achieve unprecedented success levels if they are innovative in their approach towards their businesses. Fortune favours the brave, goes a well-known saying. If someone is afraid to take the risk, s/he should drop the idea of making a mark in the world of business. A lot of Nepali youngsters today are missing the spirit of entrepreneurship. Most of them have been nurtured since childhood in such a way that they are content with seeking jobs rather than turning entrepreneurs themselves and create jobs.
- Sabina Bhandari
Kathmandu
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An Uncertain Tomorrow
It is common knowledge that Nepal is one of the least developed countries (LDC) of the world. From a commoner’s viewpoint, Nepal’s LDC status is here to stay for an indefinite period of time to come. At least, that’s what the current national socio-political economy of our country suggests. There is uncertainty all around which seems to not go away anytime soon. People accept whatever their fate brings to them and they seem to be content with their situation. Perhaps, people know that nothing good can happen to the country - they are resigned to their fate. Nothing spectacular is happening with the economy to ignite people’s hope for a prosperous future.
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It makes one wonder that given the successive governments’ apathy towards the well-being of their countrymen, which direction the country is heading after all. The business community has its own complaints amid such complexities and like anyone else; they have their own miseries to deal with. This signifies that we still need decades if not centuries to change our status from being an LDC to at least graduate to the status of an under developing country. A famous saying goes that the world rests on hope. So, let’s hope that something of substance will happen to this country to make this an economically prosperous nation rather sooner than later.
- Sashanka Subedi
Gothatar
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Trade is Nepal’s Future
Even though it was not a rosy picture, Nepal’s trade around a decade ago was not as hopeless as it is today. Yes, the trade situation has definitely improved over the years but only in terms of import which is as dicey a proposition as it can get. Imports are increasing year-after-year while exports are increasing but only marginally resulting in escalating trade balance.
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The forever political uncertainty in the country has hit the industrial production hard. We are not in a position to produce exportable goods in substantial quality and quantity. Garment, carpet, vegetable ghee etc were some products that were once welcomed in the international market. Today, we have failed to carve a competitive edge in the international market which has resulted in our losing export base for many products while some others are failing to find any overseas market at all. Even the ones that have export potential have not been given due importance. Coffee is one such example. Lack of branding, inadequate supply and numerous supply-side constraints have impeded the reach of Nepali products in the world market.
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It fails my understanding why Nepal is always eyeing the European and American markets when we have two of the world’s fastest growing economies in either side of our international borders. Even if we could explore the market potential of our neighbouring countries, we do not have to look elsewhere. Though of course, for this to happen, we need to compete with the quality of Indian and Chinese products which is not easy. But we can certainly identify goods which we have competitive advantage in, to begin with. I am sure efficient production and supply of products having competitive advantage will hold us in good stead. Nepal should correct the internal flaws that exist and simplify the trade environment. Also, a stable political climate in the country will definitely invite more investment in manufacturing and services sectors.
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Experts say we have competitive advantage in sectors like tourism, hydroelectricity and other service oriented businesses which has the potential to shape the future of Nepali trade. We must take measures to ensure that the ever-widening trade deficit be narrowed to a reasonable extent. The role of the government must be to facilitate trade and help the national economy prosper.
- Abinash Ghimire
Durbarmarg
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