Tracing the trajectory of growth of a newly started business is both delightful and inspiring. While quality and service are key, understanding the consumer’s exact needs, accurately assessing the competition and adapting your offerings is the secret of transforming, say, a ‘wada pau’ business from being run on a cart to a small shed to, finally, a decent small restaurant.
Carrying forward and expanding inherited businesses, incorporating changes, improvements and new technology needs the will to explore and courage to experiment. deAsra strongly supports such motivated youth, starting their journey towards successful entrepreneurship. Their support extends to those wanting to expand their existing business, as well as to those struggling to stand on their own feet.
Here is the story of deAsra’s role in a young man’s struggle and subsequent success:
Rahul Kawade, having learned the ropes from his father and two brothers who already owned independent photography studios of their own, aspired to follow in their footsteps but lacked financial resources. He therefore, enrolled himself with the government department as an educated unemployed.
When deAsra offered to help participants, who had enrolled in a photography training program organized by a national bank, to set up their own businesses, Rahul approached the team.
They reviewed his situation and advised him to start a photo processor printing press to accommodate the work outsourced by his family while also providing a ‘one-stop-facility’ to customers. While Rahul’s family collected the 25% capital amount required, persistent follow up with the bank, by the deAsra team and a request to consider the loan under the Credit Guarantee Fund Trust for Micro Small Enterprises resulted in Rahul getting the loan without any guarantor or collateral. They further advised Rahul to appeal to the concerned government department to reconsider and sanction Rs. 10 lakhs for a photo processor printing press instead of a photo studio. This was favourably viewed and the bank decreased Rahul’s personal contribution requirement to 5%, resulting in him being reimbursed with 20% of the capital put up by him. Additionally, he got a 25% government subsidy.
Today, seven months after starting his business, Rahul has a minimum monthly turnover of Rs. 50,000/-, with photo printing jobs from 35 other photo studios in Pune, in addition to those from his family studios
In short, deAsra played a major role in Rahul’s success story: they visited his home and workplace to help him prepare a Project Report, accompanied him to the bank and guided him in getting a loan without furnishing any guarantor or collateral, had his case included under the Loan Repayment Scheme, got him a 25% government subsidy, as well as helped him get a Shop Act License and other legal documents. They continued monitoring his business, especially the timely repayment of loan instalments.
Rahul’s future goal is to acquire a Rs. 3 lakh photo framing machine and deAsra will undoubtedly support him.