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28 Nov 2016 | Voices from the field

Entrepreneurship and Business Plan Development Training

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Training participants in Gaighat, Nepal

Entrepreneurship development programmes aim to enhance the capacity and willingness of business people to develop, organize, and manage their business ventures. The development of entrepreneurial skills and knowledge through structured training and institution-building programmes is often the ultimate goal of entrepreneurship development trainings.

In order for any business to be successful, it is crucial that it be given proper direction through a business plan. The primary purpose of business plan development is to define a business’ mission and future development. Thus, business plan development trainings strengthen participants’ abilities to structure and build their entrepreneurial visions.

From 10-12 November 2016, ICIMOD’s Himalica initiative conducted a three-day “Entrepreneurship and Business Planning Training” in Gaighat, Udaypur, in southeastern Nepal. The main objective of the training was to introduce participants (26 from three different VDCs) to the basics of entrepreneurship and business planning. Over the course of the three day training, participants gained knowledge on entrepreneurship and business development, marketing plans and product development, product and organization management planning, financial planning, record keeping and business registration. The training’s practical approach to instruction and knowledge-sharing meant that its participants gained hands on experience. All the participants, mostly farmers, ran their own farm-related businesses, and were guided through the process of making individual business plans for their respective ventures over the course of the training.

The concepts of cost of production, depreciation and return on investment—identified as being essential for business planning—were rather difficult for the participants to grasp. However, the farmers took keen interest and drafted their own business plans with the support of the facilitators and village coordinators. In cases where they could not write, facilitators wrote their plans out for them. Some farmers continued the activity at home, seeking help from family members.

By the end of the training, having drafted their business plans, all 26 participants had come to understand the importance of and need for business planning. The participants did not only consider themselves farmers any longer, they considered themselves business people as well.

Business development service providers have been selected to identify potential entrepreneurs in the communities to make impacts of the training more effective after the training ends. Entrepreneurs can spur economic growth and the event organizers hope this training will encourage everyone to view business development as an attainable and desirable goal for their local economies.

Participants’ Say

“I have been in the vegetable business for a long tim
e. There were only a few of us working to grow vegetables comme
rcially when I started. Now, with the support of Himalica, many farmers are trying to do the same. Traders are coming to o
ur village to collect the vegetables we produce. This training will help me better manage my business better.”
– Laxmi Chaudhari, Gaighat

 

“After receiving support from Himalica, I have earned around three million rupees in one year. Now with this business planning training, I can make more informed decisions and expand my business. I have also tried encouraging others to get into the vegetable business as this sector helped me pay by dues. Now, I am a happy man.”

– Ganga Rai, Khairini taar

 

 

“I have just started my own vegetable business and already earned fifty thousand rupees. Business planning will help me gain clarity in terms of my expenses and income. It can also help me figure out how to reduce cost and garner better profits in the future. Being self-employed has made all my dreams come true.”
– Ram Kumari Rai, Khairini taar

 

 

 

“After traveling to various countries, I realized that we can do more to earn a decent living at home. The vegetable business is a sector that can fetch me a good income. I am very happy that this business planning training took place as it has helped me realize that I have been doing business without any planning. This training has invigorated me and added value to my work.”
– Govinda Prasad Koirala, Tiruha

 

 

 

“After traveling to various countries, I realized that we can do more to earn a decent living at home. The vegetable business is a sector that can fetch me a good income. I am very happy that this business planning training took place as it has helped me realize that I have been doing business without any planning. This training has invigorated me and added value to my work.”
– Govinda Prasad Koirala, Tiruha

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