Morung Express News
Dimapur | August 30
North Eastern Development Finance Corporation Ltd. (NEDFi) in association collaboration with Entrepreneurs Associates Nagaland, organized a one-day ‘Business summit’ on the theme “Entrepreneurs awakening on projects viability” here at Hotel Lake Shilloi on Wednesday. President, Business Association of Nagas (BAN), Thungbemo Murry, the theme speaker of the summit in his address said knowing and understanding the prevailing local economic scenario is as important as it is for the viability and success of whatever business venture that one might undertake.
The BAN president said after the creation of Nagaland state under the 16 Point Agreement, Nagaland became a “total subsidized” and that funding for any industrial project or business undertakings initiated by any Naga had to be pursued under certain special schemes or policies by declaring himself or herself as “reserved, backward, and scheduled tribes etc.” Also the limited state level policies and funding regulations badly affected and discouraged lots of Nagas in so many ways.
Murry said during the 1990s till 2005, the most common business activities in the state were vehicle repair workshops, steel fabrications, and some few retailing shops, most of them in Naga names but run by non-locals. Then by 2005, new wave of business activities came up including poultry, piggery and fishery. Murry said initially these were mostly to apply for PMRY, other loans and subsidies (easy money) and so many such ventures did not surtvive. He however said things have changed for better in the present context as many dynamic Naga youth who after completion of their professional studies from outside, are now setting up all sorts of businesses with new innovative and creative ideas and concepts.
Murry also dwelled on different aspects of project viability including viability analysis, viability through the eyes of financier, technical viability, financial viability, market viability and legal viability. He further said with NEDFI coming up with so many attractive schemes meeting the needs of first generation entrepreneurs, upcoming entrepreneurs should take advantage of them and assured BAN’s support “to work together for the betterment of our business society.”
NEDFi Dimapur branch manager, Vimeyiel Richa, gave a power point presentation of NEDFi’s activities and schemes in the North East and Lipokmeren, a chartered accountant, highlighted on ‘Project making and financial importance.’ A couple of upcoming local entrepreneurs also shared their experiences. Chairman, EATACOL, Tiatemsu Longchar, in his “words of encouragement’ said the proactive role of NEDFi is changing the entrepreneurial spirit in the North East. He also assured that Entrepreneurs Associates along with NEDFi would walk the extra mile to help upcoming entrepreneurs to make a mark both in the local and outside markets.
