Entrepreneurs face new challenges

Entrepreneurs face new challenges particularly when the industries and businesses seek to explore new avenues for growth and diversification. Industries in Visakhapatnam, which had grown around the activities of public sector entities like Vizag Steel and Vizag Port Trust, have been reinventing themselves to align with the modern times where private sector and the competition play central role in wealth creation.

Vizagapatam Chamber of Commerce and Industry in association with Business Standard conducted a panel discussion on the challenges faced by the entrepreneurs particularly from this perspective. It has brought together the senior government officials who deal with the industries department and the established businessmen and entrepreneurs to discuss the solutions.

Shravan Shipping Services Private Limited managing director G Sambasiva Rao, IT Association of Andhra Pradesh president Ravi Eswarapu, Visakha Autonagar Small Scale Industries Association president A K Balaji, Joint Chief Inspector of Factories DCS Verma, General Manager of Vizag District Industries Center Ramalingeswar Raju, Lotus Wireless Technologies managing director Maninder Shingh Lal, Vizagapatam Chamber secretary A V Monish Row took part in the panel discussion.

 Rao and Balaji explained the problems of the local industry in general while requesting the government officials to be proactive in resolving the issues of those who seek the departmental help.

 Lotus Wireless MD Singh, who has made a mark in electronic industry with smart meter manufacturing in Vizag city, however, said all the challenges are in fact the opportunities for a successful entrepreneur. Senior officials Verma and Raju said the entrepreneurs should focus more on their business model and other basic details to avoid problems and unnecessary delays in the later days.