NEPAL - WHEN ECONOMIC TIMES ARE TOUGH, WOMEN IN SMALL BUSINESSES GET TOUGHER
NEPAL , Community News 11-20-2009
With export performance adversely affected by lack of buyers from traditional markets in developed countries, as a result of the global economic recession, woes of developing countries have become cause for concern. No less than the United Nations has taken notice of the 90 million more people across the developing world that has been pushed to extreme poverty.
In crisis situation, pooling ideas to come out with collective response often results in a practical solution. Such was the action taken by a group of small entrepreneurs from Nepal at workshop on how to survive during global economic recession.
Sponsored by the Women Entrepreneurship Development Committee of the Federation of Nepalese Chamber of Commerce and Industry and the Enterprise Development Network, small business owners and members of the WINNER (Women into the New Network for Entrepreneurial Reinforcement) Network in Nepal exchanged views on how to respond to the economic crisis. With a noted economist, Dr. Hemant Dabadi, as main resource person, the participants shared their thoughts on how the economic recession impacted their businesses.
To make through the recession with minimal effects on business, Dr. Dabadi said “keeping cash reserves and maintaining good relations with all clients, including those who cancel orders, are practical steps to business survival.” He added: “Keeping track of goods that sell well during economic recession and adjusting the organizational structure accordingly will cushion the full impact of an economic crisis.”
Participants in the forum on business survival during economic recession are women entrepreneurs who export products to developed countries, particularly in western Europe. Representatives of Handicraft Association of Nepal, Handicraft Design Center, Women Entrepreneurs Association of Nepal and the WINNER Network were also present at the workshop. Because of the slippage in exports, majority of the small business exporters have been forced to downsize their operations resulting in job cuts, among other problems. But to ride the economic recession, these small businesses have resorted to looking at markets closer to home and have used the crisis as an opportunity to engage in building their capacity and engage in product innovation to prepare their businesses for the time when the world trade system emerges from the current economic downturn.
Being a landlocked country, Nepal’s exports are mainly agricultural produce and processed and manufactured products that cater to overseas markets. Nepalese women, comprising 51 percent of the population of 30 million, are mainly involved in agriculture-based industries related to handicrafts, knotcrafts, lokta paper, floriculture, silver jewellery, garments and textiles. |
NEWS