Entrepreneurs share methods on ways to improve their businesses

Thirty-six-year-old Sherine Peerez owns a small business in Colombo, Sri Lanka, which makes clothing that she designs and sells locally.

Since it was set up a year and a half ago, Ms Peerez built her business to the point where she turns over a steady, but small profit, but she was still open to new ideas to improve her enterprise.

Ms Peerez was one of 70 participants who attended a week-long programme held in India from 8 to 13 June 2008 which aimed to develop the competitiveness of micro, small and medium enterprises (MSMEs).

“Straight after the programme I was also able to make improvements to my business by introducing suggestions made by other participants and Indian MSME owners who I met, such as offering incentives to my staff,” she said.

“During the workshop I also learned a lot about loan schemes,” Ms Peerez added, explaining that she is currently exploring various loans using the knowledge she gained to buy land so she can expand her business by building a warehouse.

Since the workshop, Ms Peerez has increased the number of staff she employs from five to 13 with all new arrivals working out of their homes: “This allows them to take care of their children whilst working and also improves their productivity.”

Now, as she looks ahead to the future of her business, Ms Peerez wishes to tap into the international export market, primarily through connections made at the workshop.

The Commonwealth Secretariat and Government of India, organisers of the Eighth Commonwealth-India Small Business Competitiveness Development Programme, invited participants from 27 Commonwealth countries to learn and share experiences with Indian MSME owners. They also examined links between micro-enterprise, poverty alleviation, job creation and export development.

Another participant, Dr Jerrol Thompson, Minister of Telecommunications, Science, Technology and Industry in St Vincent and the Grenadines, explained that he is introducing some of the ideas he learnt into a national policy on small business development, for which the government is in the process of contracting a consultant to draft.

At the workshop Dr Thompson also met A C Jose, Chairman of the Coir Board. Following their meeting Mr Jose is now assisting St Vincent and the Grenadines with “equipment, designs and marketing strategies” for the best use of banana and coconut fibre in St Vincent and the Grenadines.

Mr Jose is also the Chairman of the United Nations Intergovernmental Group (IGG) on Hard Fibres. The IGG on Hard Fibres has targeted to spend US$2.5 billion for the growth of the world coir sector which has significant economic potential.

Mr Thompson said that the country is indeed looking forward to the potential trading relationship that may develop with India over time as a result of attending the workshop.

The Commonwealth-India Small Business Competitiveness Development Programme is a pan-Commonwealth institutional capacity-building initiative in the area of MSME competitiveness development that was initiated between the Commonwealth Secretariat and Government of India.

Secretariat Links:

• Country Profile: India
• Special Advisory Services