Celebrating entrepreneurship

While Sri Lankans continue to grapple with inflation, money printing and the reason for this – much of which is discussed inside in a detailed report today --, there were two momentous occasions this week that Sri Lankan entreprenuers should be proud of.

The Bernard Group launched by its founder Bernard Boteju celebrated its 60 years in business while Grant McCann Erickson, Sri Lanka’s top advertising agency, founded by veteran adman Reggie Candappa completed 50 years.

Bernard Boteju started with small beginnings as a single machine tailoring outfit at Kohuwela, the property on which the company’s corporate headquarters remains, and like many entrepreneurs of the 1940-1950s generation struggled till he found his feet.

At Grant’s, it was pure nostalgia at a press briefing this week when staffers including Stanley Carvalho, a pioneer in the company, recalled past moments in the 50-year history of the company with Reggie’s name and presence invariably emerging in every single event.

Both Bernard’s and Grant’s have grown with the times and succeeded in a much more competitive environment now where quality, price and good management are the keys to success. Bernard is a top exporter of garments with manufacturing facilities out of Colombo while Grant’s is one of the biggest ad agencies around.

Boteju and Reggie belonged to a generation where risk-taking, perseverance and hard work prevailed, a fact seen in some – not all however – sectors of the economy today. Sri Lanka has a reservoir of entrepreneurs who can be a Bill Gates, Warren Buffett or Ratan Tata any day, given the proper chance and opportunity.

The new breed of entrepreneurs like the Amalean Brothers, Laugfs’ W.K.H. Wegapitiya or Cargills’ Ranjit Page have to some extent worked their way to the top using drive, initiative and perseverance. But can that be said about others with potential but lacking in drive and enthusiasm?

Some successful businessmen believe risk-taking is a problem for many who blame the conflict and the economy for not venturing into the unknown. “Instead of blaming the conflict, entrepreneurs should pursue their dream without finding excuses. Leave the conflict and country’s issues to the government, policy makers and politicians, let’s go out and work to turn ideas into an industry, turn ideas into a successful product that would benefit people, the society,” said a veteran industrialist.

Notwithstanding this, Sri Lankan entrepreneurs have made good and there is many a success to show overseas particularly like the Damro’s, large segments of our garment industry and Dilmah tea. In recent times, Sri Lankan companies in the leisure sector have taken the initiative to venture out with groups like Aitken Spence, John Keells and Jetwing managing and owning properties in India, the Middle East and some other parts of the world.

One must however recognise the fact that in today’s economy where globalisation plays a key role, the services sector especially telecommunications and financial services is growing at a tremendous rate far ahead of other sectors like manufacturing or agriculture. That’s because people are looking for convenience, contactability and are always on the go.
There are hundreds of small entrepreneurs who are in the food business for example, making hay while the sun shines – so to speak – selling fast-moving-easy-to-eat lunch packets or having small outlets offering fast-food dinners in the form of stringhoppers, hoppers, buriyani and supplementary curries.

As we said earlier Sri Lanka has a reservoir of entrepreneurial spirit and talent and provided the right direction – inspite of the 25-year old conflict – can prove to the world that our quality garments, quality tea or quality furniture is no flash in the pan.
Hats off to Bernard’s and Grant’s for reaching their respective milestones since to celebrate 50 years or even more in a competitive business environment is an achievement by any standard.