--By Prof Ujjwal K Chowdhury 

 

You look at Bhatbhateni, Sellways, Himalayan Java, F1Soft, Bajeko Sekuwa, Yeti Airlines and many more brands and business enterprises in Nepal and you feel that Nepali entrepreneurship is surely moving ahead. In spite of the economy having a very large component of local business owing to remittances from abroad and trading of imported goods, the homegrown companies surely are progressing. And, that refreshingly includes first generation entrepreneurs as well.

 

Years since 2000 have seen the gradual decline in armed struggles and resultant exodus to urban centres of Nepal, especially Kathmandu Valley, but democracy did also bring in political instability and an uncertain rule by a coterie of a few powerful leaders across four to five major parties, by turns. Instability in governance bred uncertain or ever-changing policies in business and many were consistent in their non-existence. There have been alongside regressive policies with regards to capping marketing expenses for some sectors of the economy, banning of FDI in a few others, and unclear labour policies in yet others.

 

In spite of all this, entrepreneurship in home-grown brands and businesses, including that of many first generation entrepreneurs, has grown, and remarkably so.

 

However, four upon five people having voted in the last elections, parties with liberal and centrist manifestos getting the lion share of popular support, we now come to a scenario where entrepreneurship can rightfully receive the big push, institutionally, in governance, in education and through media.

 

For long the heroes in families and in marriage negotiations have been the bank employees, the government servants, the dream-struck remittance seeking migrant professionals leaving their beautiful nation, and the like. 

 

The entrepreneurs have often been discouraged, sometimes warned, at times even threatened from within and beyond families, by the political cadre seeking easy cash, by banking and finance organizations which are supposed to boost up business initiatives, by media which looked askance at business adventurers, and by education which stressed on rote knowledge and safe managerial or clerical employment.

 

With the possibilities of the slogan of ‘Nepal for Peace and Prosperity’ becoming a reality first time in this decade given the public mood today, entrepreneurship as a function of a progressive economy needs the big push.

 

To start with, let there be a First Generation Entrepreneurship Promotion Policy of the new incoming popular government. Every government around the world in a developing economy does give tax holidays, funding concessions, training and skilling opportunities, global exposure, infra-structure facilities in government created Industrial Zones and the like especially for the first time entrepreneurs and business innovators.

 

Second, to make business incubation an interesting and ‘sexy proposition’ as against the so-called safe havens abroad or in banking and government jobs, let there be a policy of ‘business acculturation’ at Plus Two level (HS) across the nation where a workshop, a study material and a short examination leading to a Certificate in Introduction to Entrepreneurship be made a compulsory component of education, irrespective of the specialization in education.

 

Third, media’s role in promotion of business acumen and risk-taking has been abysmally low, except the occasional entrepreneur’s interview, done more with media PR in mind than a true commitment to it. There must be Entrepreneurship Gyan columns in relevant media. People must see or read Entrepreneur of the Week interview on the journey and challenges-joys of an entrepreneur, specially a first generation one, in print, television, radio and online media. There must be Business Plan contests on the lines of Business Baazigar in Zee Business and Pitch on CNBC in India, leading to winning proposals getting seed funded by banks and venture capital with full media glare. Doing business is the right thing: this message must be driven home hard making heroes out of entrepreneurs of substance.

 

Fourth, as done by National Entrepreneurship Network (NIN) in India, there should be contests with specific business problems and winning entries awarded, recognized, funded and highlighted in the media. Alongside, an advanced tool to evaluate entrepreneurship traits in youths at an early stage after they turn 18 years can be developed and practiced, called Entrepreneurship Attributes Assessment with tests, real life situations, problem-solving and a score given (like GMAT or GRE scores).

 

Fifth, as done by The Indus Entrepreneurs (TiE), a global body of entrepreneurs of Indian origin, there can be The Nepali Entrepreneurial Network (NEN) to bring home success stories of Nepali entrepreneurs within and outside Nepal, specially the first generation ones, and also fund new deserving projects with angel investment of NRNs (Non Resident Nepalis).

 

Sixth, entrepreneurship management education must take a definitive leap in Nepal. On the one hand, it must become a component of regular management courses at BBA and MBA levels in all institutes. On the other, specialized Entrepreneurship MBA must also have specific papers on social entrepreneurship, green and sustainable entrepreneurship, managing family business in subsequent generations, and the like. Every leading business school of the country needs to develop Business Incubation or Enterprise Development Centres to further advance the cause.

 

Seventh, people who have come into the cottage, small and medium enterprises already and are at different stages of performance can be assisted with new techniques and skills through short-term Entrepreneurship Certificate courses in specific domains: like Retail or ICT Entrepreneurship, Health or Educational Entrepreneurship, etc.

 

Let a thousand flowers bloom. There is no cause of worry if a large number of business talent turns more entrepreneurial than plain managerial. Even in large organizations, gone are the days of command hierarchical structures. People are now moving to flat organizations, outsourcing several support functions to outside entrepreneurial outfits, and hence they need less of on-command managers and more of bottomline-focused entrepreneurial managers.

 

(This article is prepared based on the author’s talk in and learning from the Entrepreneurship Enhancement Consultation meet organized by King’s College of Management, Kathmandu, on January 31.)