[Challenge:Future] Small Medium Business
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The team helped generate employment for unemployed but skilled youth in Hala, Sindh, Pakistan by starting a small earthenware business. They convinced 7 heads of families to each invest $300 and secured a $700 loan to purchase equipment. The youth were trained and began producing and selling earthenware, which helped support their families. If expanded, such cottage industries could meaningfully contribute to the local and national economies through self-employment opportunities and exports.
[Challenge:Future] Small Medium Business
- 1. Self- Employment through Small medium Business Team Leader : Shahzaman Khuhro :Final Impacted Youth: Underpriviliged but skilled Youth of Hala, Sindh Submission Team mates : 3 Volunteers Hours spent : 7 hours x 6 days Impact : 7 families Period :6 days
- 4. Our Project Our Project is to Generate employment at a very local level in a cultural city Hala of Province Sindh, Pakistan, via Small cottage industry. Our Project was to find out skilled youth who are unemployed because they did not have an orientation to start any business or do any job. They were not able to do business because they were alone, and did not have sufficient funds. Our team played a role of intermediary amongst these 7 heads of families, who are young but they are the only bread earner for the family, persuaded them to start a small Earthenware business. We convinced them to arrange $300 each, and devised a business plan for them, we got them started with this business. We also raised loans from local venture capitalist, without any collateral. The loan amount is $700 and each will pay $100 after an year.
- 5. Our Target Group Our Target Group are the local youth of Hala city, of Sindh province. They are the only bread earners in their families, they are skilled but lacked the motivation and technique to start some business. Since they were trained to make earthenware, we thought to start a small cottage industry for them. We Chose the youth and earthenware business because Hala is famous in all over Pakistan for the earthenware products and handicrafts, hence this business has definite clients in the city and tourists and other people shall also be interested in these products. This business was started with a low investment, and such a cottage industry will not only improve the families living conditions but contribute to the economy of Pakistan. Our target was skilled enough and lacked a business plan, being a Business student, we devised them the plan, devised a Cost Profit analysis, did some marketing and got them started.
- 6. Our efforts and achievement Our target was to start a successful business which at the end of the day could fetch earning for the family of our target youth. We went to the City administrator and local businessmen, surveyed the business scenario and came to know about the demographics of the area. We met these 9 youth via our local guide and we were able to convince 7 of them, we told them about our devised plan, and told them the benefits of a cottage industry, about future earning and prospects. We spent 2 days in the city initially and raised money and capital, a local bank helped us with a $700 loan, which will be paid by all 7 after an year, and we utilized the small portion of one of the youth’s house as our warehouse and plant we spent 3rd day in buying necessary equipment, and guiding them with our plan, we spent last day in selling the earthenware products and we did some marketing for them too. We encouraged other people to learn and start something like that. And we offered our help whenever needed. Our youth will be able to earn bread for their family, they will be employed. They will set an example for others. Such efforts will reduce crime rate, which is at peak, this will generate employment for other related people and ultimately contribute to the national economy at the end.
- 7. Effectiveness of our project On the very 2nd day of the manufacturing we were able to sell the products, we brought profit. The target youth was enthusiastic, and when other people saw 3 young people coming in and setting up a business out of nowhere, they gained inspiration from this project. Our action was required because if skilled youth remains unguided, they will just waste their talent, and also their family will not be living a subsistence life. Our action generated employment and also set an example for people who sit idle and blame the government for not generating employment for them. This will induce a feeling of self support in people, and we could see locals supporting and praising us, they gave us a positive feedback. Our project if followed at a large scale, this will fetch revenue and if such efforts are done at organized level, this will give a sudden boost to the economy and GDP. This will help increase the income levels and consumption of people, resulting in lowering down the inflation and raising the value of our currency.
- 8. Innovation We would not say that our project was one of its kind, but our efforts to act like a moderator and intermediary have never been practiced here, people just do business for profit and employ these talented but underprivileged youth at meager salaries and skim the profits themselves. But we motivated them to start their own business, we did not give them one fish, we taught them, how to catch a fish actually, so they are self sufficient. A Lot of NGO’s claim to help people and young entrepreneurs to come forward and start their own enterprise but they do not do it at a very basic level, at a grass root level, which is required too. Cottage industries have never been encouraged here, and huge multinational, who have vested interests outside this country over shadow these small businesses and do not let them grow and sometimes shut them down too. So our project has initiated a stimulus and a spark in these youth so they can come up and help themselves to achieve something rather than waiting for a miracle to happen.
- 9. Potential of the project This project has a huge potential, if government and local people help us in promoting this, we can start such cottage industries in all over Pakistan in all small towns. If we talk about earthenware products, these products can be exported to our neighbor countries too, which will also bring us foreign exchange. If government authorities take steps to improve, they can help these small industries to be more organized, they can help them to get cheap raw material, they can help them to transport these to big markets and also to export them. And if necessary steps are taken, we can keep a coordination amongst these cottage industries all across the country and also from other countries, then specialization of labor and work can be done, they can distribute the work amongst them, and prepare semi finished products and other will finish them properly, this will bring perfection and will help in producing more. Orders can be placed from different markets all across the world and the goods can be exported. This has a great potential if properly exploited, we can create our markets all across the world and sell them, and invite other countries to sell their special products in our country, this will also lead to greater cooperation amongst the region, and this will give an impetus to the regional trade. Such steps can also break the monoply of trade for the superpowers and actually break the barrier of trading obstacles.
- 10. Team and our details Team Leader : Shahzaman Khuhro Contact number : 92-0331-236-4392 Members Farhan Marri Ahsan Aziz Channa We all are Business students living in karachi Pakistan Our College details: Institute of Business Management (IoBM) 92 21 111002004 www.iobm.edu.pk Address : Iobm, hyderi, korangi creek, karachi, Pakistan.