SATURDAY, APRIL 27, 2024
VIKANT SAHAY
With the outbreak of COVID-19 the scenario in the business sector has drastically changed. It has been a period of survival. The competition became very tough as the market was down and customer base got depleted as people did not have money to spend in the market. People adopted austerity measures purchasing only the bare minimum necessities and essentials. Business leaders had to be innovative to figure out what would sell in such a market.
“Although the COVID-19 pandemic has disrupted the ‘normal’ life around the globe, it is not necessarily a bad time to start a business. What I believe is whether you start a company before, during, or after a recession or global crisis does not necessarily mean you are going to be more successful in the long term. Many successful businesses began during or survived tough economic crises by recognising a new demand and rising to meet it. Rule number one of entrepreneurship: When things go wrong, you don’t just give up, crawl back into bed, and eat ice cream. You get to work,” said Irru S Kunkolikar, founder and promoter of Tape Technology which manufactures insulation tapes.
Kunkolikar further added that there was shortage and demand supply gap of personal protective equipment in market. Adequate production and distribution of equipment were crucial during the pandemic. The protective equipment were very heavily charged and that reflected to us the need to serve the nation with best of our capacity and started manufacturing personal protective equipment.
“Staying positive and working on the business policies will be more helpful to keep your nerves under control without losing sanity. Certainly there has been revenue input to our account due to the inclusion of a new product. After having started office in Goa, Hyderabad and a manufacturing unit in Bangalore, I want to start more. Running a business is exciting in its own right, and I continue to do so. With every new business, I am building on knowledge, brand visibility, marketing experience, and other resources, creating a business that is even better than the one before. Keeping them all functioning, however, has a set of unique challenges and thrills,” added Kunkolikar.
Ryan Vaz, MD of Audry Infra Pvt Ltd and founder of Infinyt3d narrated that soon after the lockdown Dr Anish Lawande contacted them and requesting them to make face shields for the medical staff in Goa Medical College as there was a serious shortage and the supply chain had broken down.
“Since we were one of the largest 3D printing Bureaus in Goa, we, along with CIBA (Centre for Incubation and Business Acceleration), jumped in without hesitation. We started innovating, not just face shields but many other products as the requests kept pouring in. In fact, during the first two months of lock down we developed nine different products from scratch, including five types of faces shields, masks, intubation boxes, testing kiosk, ultraviolet sanitizer, etc,” said Vaz
He went on to add that, “However, we focused on the Lovo, which is a touch free, sensor based, hand sanitizer dispenser, as a product to market, towards the beginning of April. We always wanted to try and get our own product into the market and after a lot of thought, we zeroed in on this one. It was something new. There were not enough people manufacturing in India and it seemed very exciting.”
When asked whether he feels that this new business is giving more return on investment, Vaz said, “This is a fairly new product so it is very difficult to say that it is giving more RoI then my current business. I am spearheading two business verticals right now and by God's grace, both are doing extremely well. The Lovo is a new addition to the family. It has added to our kitty of innovative offerings to our clients. Both my business verticals are doing splendid.”
Ram Sharan Prasad who is originally from Bihar retired from the armed forces and settled in Goa since early 1990s. He being the sole bread earner had to work as a travel agent in one of the leading hotels in Panjim but due to COVID-19 his business was down and he along with his wife Manisha and son Shaket S Prasad who is now a IIM student founded Man Mohini Foods and are making ‘Sattu’ (powder of roasted grams which is very popular in North India as a staple diet).
“The pandemic avalanche ripped the tourism industry apart like never before and my dad being a part of this industry was left with no option other than shutting down his business and thus losing his earning capability. By the time we got over this sudden financial shock, a few months had already gone by. My dad, like every other average citizen, had saved up for a contingency such as this, but that would not last long. We had to come up with something and adapt to the situation if not we were bound to be on the streets. It was breaking my heart to see my dad lose hope so my mother, a housewife, and I decided to embark upon a new business dealing with Sattu. We have all the things planned and ready to deliver. The paper works are yet to finalise and we will shortly be supplying a taste of Bihar's special Sattu to people in Goa. My plans for the future are to keep continuing this business, making it a stable source of earning for my family,” Prasad said.
Orson Dias, proprietor of a restaurant House No 2, in Ambora is setting up a new business and its name is yet to be decided. “The COVID situation gave us a lot of time to ponder and re-think our priorities. And through this I thought of doing something which would help the environment. That is why I thought of going in to organic clothing. The business has not yet been set up entirely, but currently we are in the first phase of establishing a good network for the product. The returns are not yet visible. Post COVID-19 I am hoping that I can continue with both businesses,” said Orson Dias.
Vikat P Verlekar, director of Saksham Innovation which deals with 3D printing and models firmly believes that the COVID-19 crisis led many businesses to shut down. Construction of new buildings and facilities also took a hit. He has floated a new company Aakash Eco Solutions LLP during COVID-19 times which deals bio-degradable solutions in bottles, containers, 100 per cent bio-degradable and non-toxic to environment and air.
“I felt 3D printing and 3D model requirement would also reduce. That is when I thought that instead I should think of different sector. Yes, the new business is totally different as compared to products already in market. The bio-degradable solutions which are offered will make a big impact on environment and help towards the betterment of society. I would continue the 3D printing and 3D models business as, 3D models was started by my father in 1984. So it is a passion for me,” said Vikat P Verlekar.
