Leaving a corporate sector job with thirteen years of experience in iron and steel sector, Sumanta Kumar Sahoo of Kalinga Vihar, Bhubaneswar took a decision to become an entrepreneur producing hollow-cement block construction bricks. The decision was not easy. His participation in a course on youth entrepreneurship development in IED Bhubaneswar, strengthened his resolve to take the risk. The doubts that he had in his mind vanished after he attended the course. The promise that he got from the Institute to hold his hand at the time of need during the project cycle made him think that he has been already empowered. And thereafter, he whole heartedly plunged into the venture.
With just Rs. 1.25 lakh seed capital, he started the unit investing Rs. 20 lakh in fixed capital and Rs. 5 lakh as working capital. With a very high loan component (Rs. 23.75 Lakh), he adopted a strategy to have the best available proven technology and skilled personnel. He himself supervised input supply and operations. He is now a successful entrepreneur, earning between 80,000 to 90,000 rupees per month. Because he himself supervises the operations and ensures supply of good quality products, the demand from construction industry for his products is quite high. He intends to expand his operation soon.
From a diploma holder in electrical engineering and a technician in a corporate house, with much lower than his expectation about his salary, he has become a full-fledged entrepreneur, a risk taker. He is currently providing employment to 10 persons, all female. He has been repaying his loan instalments regularly and banks in his area are eager to provide him adequate finance for expanding his business.
He says, thanks to guidance received during his training in IED and follow up advice, as and when he needs. The young people in his area are looking forward to him. He thanks his trainers in the Institute and the government functionaries for helping him in his earnest endeavour.