Vishü Rita Krocha
Kohima | April 3
About 85-90% of women entrepreneurs who just recently completed the YouthNet Women Entrepreneurship Fellowship (YWEF) have seen a growth in their business especially in terms of revenue generation and achieving their targets. A total of 14 women entrepreneurs were selected to be part of the first cohort of fellowship under the initiative of YouthNet supported by the directorate of Industries & Commerce, which formally commenced in September 2020.
Speaking to The Morung Express, Velütalü Puro, Project Coordinator YWEF said that the fellowship is an outcome of their experience with the Made in Nagaland Centre initiative, which was designed with the purpose to serve as a platform for local entrepreneurs. “Through our experience, we have had the opportunity to observe, study and learn the potential for growth is immense, but our entrepreneurs are faced with challenges in their businesses be it external or internal,” she highlighted.
Referring to the Godrej Good & Green (GCPL) for the Beautypreneur project, where they have trained more than 800 women and girls in the Beauty and Wellness sector, she said that the project has been a great success being able to help over 30 young women turn their business models around by equipping them with Life Skills, empowering them and handholding their business since 2016-2020.
This, she added, has led them to take forward the project for women entrepreneurs not only in Beauty and Wellness sector but also those engaged in other sectors. With women more involved with household chores and social obligations, she impressed upon that they also tend to become lavish and are not able to focus on their business savings. “If they want to grow in business, they also have to consider these things”, she put across while asserting that “even if it is 50 paisa, business is business.”
Considering different factors that come in the way of business for women, the fellowship was designed as a means to help women entrepreneurs with the objective to change their business dynamics, facilitate change and growth in their business while addressing the issues of each entrepreneur individually. Since the induction of the fellowship program, the mentors worked with the fellows on individual goal setting and targets to be achieved for the business.
The key offerings of the fellowship included business financial management, assessment of the market, holistic understanding of competitive pricing, benefit of a support and network system amongst the fellows and one-to-one mentoring with experts. The programme was also designed to help them assess their business- profitability, make future projections, working capital management, eligibility for applying to schemes and funding opportunities, etc.
Through the YWEF’s intervention, most of the fellows who did not have business saving accounts were able to open one. The lean business canvas model was utilized for them to map their businesses and made it easier for them to achieve their business specific goals. The fellows’ targets included generating money for extension of work space or new work space, increasing sales by 50%, distribution of products, recovering 50% investment, procuring new machinery, investing in new tools, achieving daily business savings, clearing old stocks to boost new revenue, launching new product line, and starting new ventures.
After the completion of the fellowship in February this year, the status of target achievement showed progress with the fellows also being able to push themselves to innovate, create and generate income. They were able to achieve their targets wherein they saw their work space under construction or completion of new work space being set up, business savings account which started with 50% of profits now standing at recovery of 100% business investment, expansion of distribution of products to other states in North East, starting of new ventures etc.
The 14 women entrepreneurs who completed the first cohort of the YouthNet Women Entrepreneurship Fellowship included Amenla Aier, Alemjungla Jamir, Ketholeno Kense, Tasangkala Imchen, Vizosenuo Sekhose, Ruopfuzhano Whiso, Nancy Kense, Lipok Esther, Aienla Jamir, Shurhotuonuo, Limala, Anitoli, Neivino, Alole Thopi, Benny Tep, Supongtula, Asanei, Khriezobeinuo, Imtisenla, and Asano Peseyie.
