After a very successful Rashtriya Adhiveshan celebrating the Silver Jubilee of Laghu Udyog Bharati where over 2200 industrialists had gathered for a 3 day convention at Reshimbagh, Nagpur, we have started another stellar initiative for Empowerment of MSMEs across India, starting with the members of Nagpur Ekai. The Initiative started on the auspicious Occasion of Vishwakarma pooja which was held at Laghu Udyog Bharati’s registered office situated at Bhide Smriti Parisar, Shivaji Nagar, Nagpur.
Speaking on the occasion, financial experts and value consultants Shri Milind and Shri Nitin Alshi, both chartered accountants having extensive pan-India experience in the Industry laid out the fundamentals of how MSEMEs can change just a few things to achieve a major turnaround in their business performance and growth trajectory. “Balance sheet is our industry business’s mirror, and we must watch it as frequently and as carefully as we look at ourselves in the mirror before stepping out to face the day”
Another exceptional concept he mentioned they have come up with is an “Outsourced CEO – an affordable senior & experienced team member made availableu to MSMEs at a fraction of the cost of hiring a full time senior executive. Other things both of them mentioned and covered in details were MIHAN SEZ, prefer PSUs rather than private banks for finance, and several other issues.
President of Nagpur Ekai Shri Udayan Shrouti added some humour to the interaction by giving the “riding a tiger analogy”, wherein he said, “Every MSME entrepreneur is riding a tiger, can’t get off without being eaten off”. He was implying that more often than not, for a MSME owner, it is safer to continue down a dangerous path than quit it, as that is further risky
Shri Nitin Alshi suggested books for reading on issues which are seldom openly discussed within the MSME community like, “Exit routes”. When is the right time to plan for an “exit”, i.e. leaving, handing over the reigns or even selling your industry to someone. When to actually consider this option in a project/company’s life cycle and how to plan for it, how to execute it.
National secretary Shri Sunil Sirsikar put it quite bluntly that “Only people who can enjoy perennial uncertainty can be entrepreneurs!”, implying that the life of an MSME industrialist is full of uncertainties and those who can remain calm and happy in that kind of an adventure on a daily basis should definitely explore this career, but others should think several times if they would be able to fight out this uncertainty.
LUB Nagpur members were very thrilled to host Shri Ashok Lohia, founder of Breezy brand of coolers and fans, who is also an engineering graduate from the first batch (1969) of Vishveshvaraya National Institute of Technology, Nagpur and is currently planning to move to Nagpur from Akola and highlighted several issues and aspects of MSME Industry having run and grown an Industry for 40 years
Shri Alok Pahune, Secretary Nagpur Ekai, who runs a specialised Engineering Industry in Butibori, spoke in detail about problems faced by small businesses in small import-export consignments. Other members who also contributed with their ideas and took this discussion forward were Shri Shriniwas Pande, Shri Dhananjay Patrikar, Shri Sandeep Bhartiya.
Lastly, but importantly it was unanimously agreed to keep meeting on a regular basis, with experts like the Alshi brothers and several other Industry experts to channelise these meet-ups as a series of MSME Empowerment Initiative, with elaborate guide books, Do’s and Don’ts, Business Model and structure optimisation, etc. on a pilot basis for the members of Nagpur Ekai. Once it is formulated successfully the same model will be replicated on a National basis with more experts for the benefit of over 25 thousand members of Laghu Udyog Bharati
Vishwakarma Pooja ended on a high note with such a high impact initiative taking form and we are looking forward to more participation and contribution from the members.