In recent years, entrepreneurship in Nagaland has witnessed steady growth driven by young entrepreneurs, visionary individuals, business organisations, and some government departments creating opportunities for Local entrepreneurs.
These successful entrepreneurs have looked at problems that need solutions and by fostering innovation, many of them are building sustainable business that create wealth, employment and drive economic development.
This growth can be attributed to several factors:
1) Young people will to take the risk and to location close to international borders our start a small business.
2) Parents and society more open to encourage their children to take management and business.
3) Financial institutions, banks and private The adoption of technology and innovation firms lending capital into the private business.
4) Government, working with incubators who in turn mentor and support aspiring existing business. One such initiatives is the Startup Nagaland initiative under the Department of Industries and Commerce.
While basic Infrastructure like Power, water, Roads, Lights, access to finance limit growth and scaling, this is where the Government needs to step in. The wave of entrepreneurship in the state is rising and a good eco system will help boost employment and private sector growth however without the support of basic infrastructure, this will halt the growth of business and many promising Startups will end up as self employed entities.
Our biggest advantage remains our strategic location close to international borders our English fluency – – the language of business, Nagaland’s abundance of natural resources, skilled human capital, and a diverse cultural heritage offer ample opportunities for sustainable and inclusive business models. The adoption of technology and innovation will only support driving the growth of entrepreneurship in Nagaland. With the and penetration of the internet and digital One such initiative is the platforms, businesses are reaching a wider audience, and e-commerce is gaining traction.
Nagaland’s entrepreneurs are embracing digital solutions, e-commerce platforms, and mobile applications to reach a wider audience and streamline their businesses. Given the state’s agricultural potential, agripreneurship is expected to gain momentum. Driven by global demand for authentic and handmade goods and The adoption of financial technology (fintech) financial inclusion and easing access to financial services for businesses and individuals in remote areas. Initiatives to enhance entrepreneurial skills and provide training and mentorship will witness expansion, empowering more individuals to pursue their business ideas. As the wave of entrepreneurship grows, the Govt must be ready to build the eco system for our entrepreneurs while on the other hand our entrepreneurs must build their own business skills so they can grow and scale their business. At ESB we say – “Before you do business, Learn business.”
