Kanara Chamber of Commerce and Industry (KCCI) recently organised a seminar on opportunities and challenges for family business to dwell upon issues being faced by entrepreneurs of family businesses and to encourage it.
The programme was organised in association with The Indian Family Business Journal, said a release.
Director, Global Family Managed Business Programme, S.P. Jain School of Global Management, Mumbai, Parimal Merchant was the resource person at the event.
Prof. Jain dwelt upon the importance of family business and its contribution to the Indian economy during his presentation, which included the history of family businesses in India, universal challenges that family businesses face in India and how the age-old wisdom of ancestors of family business have over a period guided and nurtured these enterprises.
Mr. Merchant emphasised the need to inculcate strong values and beliefs in the younger generation with a view to building a strong business structure.
KCCI said that family businesses had played an important role in industrialisation, trade and commerce in the country. Some of the leading business houses of today have created enormous wealth, employment and made contribution to nation building, started as family businesses.
Dakshina Kannada is no exception with over 90% of the trade, commerce and industry having roots as family businesses.
The chamber has mooted the concept of Family Business Centre in the district considering its importance, the release said. The goal will be to provide all resources and support needed to nurture family businesses. KCCI said that family business is not given due attention unlike start-ups and corporations and that has been demotivating the younger generation of family business. Consequently, they are leaving well-managed ancestral family businesses.
Chamber president Shashidhar Pai Maroor and others were present. Decision-makers of over 30 business families of Dakshina Kannada with diverse interest in cashew, medical and pharmaceuticals, commodity trading and tourism participated in the initiative.