YBSL supports youth entrepreneurs in Jaffna
Jaffna is bustling with renewed energy these days; new shops are
opening up, shops now carry more stocks, people who have vacated Jaffna
are coming back, transport is no longer as big a problem as before,
people from the South visit Jaffna; all good signs of a brighter future
for the area. There is an atmosphere of hope, for business to take off
again, says Pushparaja Janaki, a 26 year old mother from Point Pedro,
who runs a hand bag /school bag manufacturing business with her husband.
During the last few months, our business has expanded. We were able
to get more orders from our participation at the Jaffna International
exhibition held recently, she adds.
Pushparaja Janaki is one of the beneficiaries who received financial
assistance to start and expand her small business through the Young
Business Sri Lanka (YBSL) program being implemented by the Chamber of
Commerce and Industry of Yalpanam.
This entrepreneur support scheme has helped young entrepreneurs, who
are either running self employment businesses or have an idea of
starting a business, but did not have capital to do so. Being isolated
for a long period due the conflict, these youth do not have any
collateral to raise funding or securable assets, or guarantors. In
addition to providing an avenue to improve livelihoods, these youth have
resurrected the traditional businesses Jaffna was famous for.
Thivendran Sujeevan of Nallur, restarted his father's business of
making aluminium pots for household use, and now manufactures large pots
with new casting moulds and increased capacity with the funds from YBSL.
Larger pots have a higher demand and we get a good profit, he says.
His makeshift foundry does not have enough space for increased
production and he is planning to shift to a spacious location.
We are glad the CCC selected the Yalpanam Chamber for YBSL funding
support and through the program we have supported fifteen Jaffna youth
to start businesses and they are doing very well, says Chief Executive
Officer of the Chamber Yogarajah Sarawanamuttu.
We select the most deserving and disadvantaged youth with viable
businesses and link them with an experienced business mentor, and the
repayments are 100%. The funds are given at a concessionary interest and
have to be repaid back in twelve months.
The Yalpanam Chamber plans to disburse more loans from its revolving
fund.
We see YBSL as a proven model to assist youth to realise their
dreams, by promotion of engagement in business.
This is not yet another micro finance project, the cause goes beyond
that says Secretary General of the CCC Harin Malwatte. The Jaffna
program highlights what could be achieved by investing in youth, and the
CCC is willing to support further as a social responsibility to uplift
the living standards of Jaffna youth, he said. YBSL is operational in
six districts of Sri Lanka. The funding for the YBSL Jaffna program was
provided by CACCI Foundation and International Alert.
YBSL (www.ybsl.lk) is an accredited program of Youth Business
International (YBI), a charity dedicated to supporting young
entrepreneurs and is the leadership body for a network of youth business
programs implemented in thirty eight countries worldwide. |